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$1 1896-O PCGS MS64

Original Lot at Legend Rare Coin Auctions

Lot #
105
Grade
MS64
Sale Price
$39,950.00

Auction Details

Firm Sale Type Name Date Notes Lot
Legend Rare Coin Auctions Auction The Regency Auction 26 May-2018 FROM THE P.F.M. COLLECTION. Here is a coin that was clearly hand selected by a very fastidious collector--one look at it and you know that it is better than most seen. For the date, the strike is quite bold. Liberty's curls and eagle's breast feathers show only the slightest hint of weakness. The luster is frosty, displaying a pearlescent, satin glow. The devices and fields are both devoid of any serious marks or ticks. A glass does reveal a few teeny ticks and a single minor hairline along the cheekbone, all of which are taken into account by the PCGS assigned grade. The 1896-O is one of the most lackluster, poorly struck date in the entire series, and as expert Wayne Miller wrote, "the 1896-O is the rarest of all Morgan dollars in truly gem condition." Most of the 4.9 million struck were released directly into circulation, where they were to remain for a long time. Many probably were melted in pursuant to the 1918 Pittman Act, and though a few bags were released from Treasury holdings in the 50s and 60s, they were typically in lower Mint State grades, MS60-62. PCGS 29, NGC 11. No doubt these figures include some duplication in the attempt of receiving an MS65 grade. This effort has been clearly futile, as in over 30 years of operations, combined, PCGS and NGC have graded a half dozen coins finer--Wayne Miller's words are clearly proven by the grading statistics. The most recent example to sell in auction realized $30,000 in the 2018 FUN auction. Prior to that, one sold in November 2013 for $32,900. The current Collector's Universe value is listed at $40,000. Even the Coronet Collection the #1 PCGS Hall of Fame set was also a 64 and sold in 2015 for $47,000 in our October 2015 Regency Auction XIV. Keep in mind that nothing finer has sold since 2005! This near-GEM example of this classic Morgan dollar condition rarity will certainly attract strong bidding from any advanced collector! We can see it bringing a very strong price when the gavel falls. Cert. Number 4987427 PCGS # 7242

Coin Details

PCGS # Service Cert # PCGS Pop PCGS Pop Higher PCGS Price GuideSM Value Set Registry
7242 PCGS 04987427 31 3 $40,000.00 View a set that requires this coin
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