1901 $1 MS(PCGS#7272)

November 2020 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

6385

等级

MS65

价格

1,888,453

详细说明

Exceedingly Rare Gem Mint State 1901 Silver Dollar The Wayne Miller-Larry H. Miller Specimen 1901 Morgan Silver Dollar. MS-65 (PCGS). CAC. OGH. This very rare Gem 1901 features among the most significant Morgan dollars in the Larry H. Miller Collection. In his Morgan and Peace Dollar Textbookpublished in 1982, Wayne Miller described this special coin as, "The only fully gem 1901-P [sic] dollar the author has seen." One can imagine his excitement when he acquired it for his personal collection from Hannes Tulving in February 1980. When Superior auctioned Miller's Morgan and Peace dollar collection in 1986, this coin featured prominently among the highlights. It was graded Mint State 65 in that catalog, a grade later confirmed by PCGS and, recently, verified by CAC. This coin has been widely recognized as a true Gem Mint State 1901 silver dollar for at least 40 years -- a rare achievement in its own right. When imaged for both Wayne Miller's Morgan and Peace dollar textbook and Superior's auction catalog of January 1986, this coin displayed "superb deep toning" (in the words of the Superior cataloger). Its appearance has since changed, obviously the result of having been dipped, but both sides have retoned nicely in light to medium iridescent gold. The reverse also displays blushes of steel-gray at the letter U in UNITED and along the upper left border. That the Larry H. Miller and Wayne Miller specimens are one and the same is confirmed by the presence of a few tiny identifiers. On the reverse of the coin these include a shallow nick in the field between the letters GO in GOD and AT in STATES, a tiny mark near the upper edge of the eagle's right wing in front of the beak, and a minuscule spot in the field below the upright of the letter D in UNITED. On the obverse we note a tiny mark in the field below the right edge of the E in E PLURIBUS UNUM, a couple of minuscule marks at the bottom of Liberty's cheek behind the chin, and a few equally trivial marks in the field below the letter M in UNUM. These marks require persistence to find and do not limit the grade in any way. The surfaces are smooth overall and exceptionally well preserved for the issue. The vast majority of Mint State 1901 dollars are heavily abraded with poor striking detail and indifferent luster. The present example also excels in these areas. Full, softly frosted luster is exceptional for the issue, and the strike is razor sharp throughout, even at the centers at the hair curls over Liberty's ear and the eagle's breast. With its technical superiority and strong visual appeal, this coin would be difficult to improve upon. With nearly seven million circulation strike silver dollars produced at the Philadelphia Mint in 1901, it would be reasonable to think that it would be one of the most common Morgan dollars around. This is certainly the case in lower circulated grades, where the 1901 is plentiful. Clearly, many were placed into circulation beginning at or near the time of striking. In About Uncirculated the 1901 is also readily obtainable, but it trades at a premium at that level, due to the scarcity and key date status of this issue in Mint State. Indeed, the 1901 is the rarest Philadelphia Mint Morgan silver dollar in Mint State. It is thought that whatever bags were kept from circulation by the Treasury Department were melted as a result of the Pittman Act of 1918. Q. David Bowers (1993) is not aware of any releases from government holdings during the 1940s, 1950s or 1960s. Auction records from the early to mid 20th century are also few and far between for Mint State examples, and Bowers suggests that many dealer listings for such pieces during the 1950s and 1960s were probably for coins that would be graded About Uncirculated by today's standards. This issue in scarce and eagerly sought in properly graded MS-60 to MS-63 and rare in MS-64. Gem MS-65 and MS-66 specimens are among the great condition rarities in the Morgan dollar series; they are so rare, in fact, that collectors of high grade silver dollars usually opt for a Gem Proof to represent this date in their collections. Only one 1901 Morgan dollar has been certified finer than the Larry H. Miller specimen, and that is the Jack Lee-Coronet Collection specimen sold by Legend Rare Coins in October 2015. That coin has been graded MS-66 by PCGS; as of this writing it has not been verified by CAC. PCGS reports two grading events for this issue in MS-65, neither of which has resulted in an auction appearance (of which we are aware) before the current offering of the Larry H. Miller Collection. Clearly this could be a once in a lifetime bidding opportunity for advanced Morgan dollar enthusiasts. It is certainly an exceedingly rare opportunity to acquire a legendary condition rarity, a coin with technical and aesthetic merits possessed by precious few 1901 Morgan dollars. Provenance: From the Larry H. Miller Collection. Earlier ex Hannes Tulving, February 1980; Wayne Miller; Superior's sale of the Wayne Miller Morgan and Peace Dollar Collection, January 1986, lot 1327. The plate coin for the issue in Wayne Miller's 1982 Morgan and Peace dollar textbook PCGS Population: 2; 1 finer in all category (MS-66). There are no PL or DMPL examples certified finer than MS-63 and MS-61, respectively, at this service. CAC Population: 1; 0. PCGS# 7272. NGC ID: 256J. Click here for certification details from PCGS.