Finest Known 1889-CC Morgan Dollar Sells for Record $881,250 | Silver Coins

Finest Known 1889-CC Morgan Dollar Sells for Record $881,250

In American numismatics there are some coins that are in a class of their own, frequently since of their rarity or because of their high quality. 1 of the offerings at Stack’s-Bowers’ ANA auction in Chicago on August 15 undoubtedly falls in both categories. Presented was the finest recognized instance of the 1889-CC Morgan Silver Dollar, a classic rarity within the series preserved in the unimprovable grade of MS-68, certified by PCGS and with a pedigree that virtually goes back to the day it was minted in Carson City, Nevada. The coin realized $ 881,250 like buyer’s charge, establishing a new record value for the situation.

The 1889-CC Morgan Dollar is properly identified as the scarcest issue of the series struck at the iconic Carson City Mint. In addition to its low mintage of 350,000 pieces, heavy attrition also took its toll as the majority of examples had been placed into circulation, and any uncirculated survivor is a rarity on its personal. As opposed to numerous other dates within the series, the 1889-CC has by no means been identified to have been incorporated in quantity in the treasury releases of the 1960’s, and it appears extremely most likely that there are really few examples of this elusive date nevertheless waiting to be discovered.

1889-CC Morgan Dollar PCGS MS68

The pedigree of this piece is impeccable, and the list of owners more than the previous 125 or so years is comparatively brief. The story is that this piece was handpicked by effectively-identified 19th century collector John G. Mills shortly soon after minting. This, in its personal, is already a very uncommon occurrence as very handful of (if any) collectors paid interest to mintmarks for the duration of this time period. Most were content to acquire 1 Proof coin from the Philadelphia Mint and did not bother to get the circulation strikes from the various branch Mints about the nation.

The coin was first publicly provided for sale when the Mills collection was sold in 1904. It was bought by J.M. Clapp, who passed it on to his son John H. Clapp, in whose estate it was included and eventually sold in 1942. It was purchased in the sale by Louis Eliasberg, possibly 1 of the most iconic coin collectors that this country has ever recognized, the man recognized for assembling the only total collection of United States coinage. This piece resided in his collection for 55 years, cherished and saved, till the Eliasberg collection was sold by Bowers and Merena in 1997 (according to the auction catalog of the present sale the coin was conservatively graded MS-66 in that catalog). The coin than reappeared a number of occasions, in 2001 and 2005, despite the fact that it went unsold at the latter sale, exactly where it was portion of the popular Jack Lee collection.

The coin was last presented for sale by Heritage Auctions at the Entertaining auction in January 2009 as portion of the Jack Lee estate sale, where the coin realized $ 531,875. Even even though this was only slightly higher than the previous time it was sold (in 2001 it realized $ 529,000) this was amidst a global downturn of the economy and a time exactly where very couple of investments proved to hold its worth so effectively. With less than ten owners in between 1889, when it was minted, and 2013 this is one particular of those coins whose pedigree speaks for itself. And offered the fact that this MS-68 is the finest certified by PCGS by 3 complete grades that pedigree just compliments an already phenomenal coin.

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