1895 $1, CAM PR(PCGS#87330)

Summer 2025 Global Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

3136

等级

PR63CAM

价格

728,354

详细说明

A handsome specimen with delicate silver and pale gold iridescence that yields to virtual brilliance as the surfaces are viewed under direct lighting. Fully impressed and satiny in texture, the design elements contrast noticeably with mirror-finish fields. Nicely preserved and well composed, this is a noteworthy survivor of a key Morgan dollar issue.<p>The sole Proof-only issue in the popular Morgan silver dollar series, the Philadelphia Mint 1895 has long enjoyed legendary status. Early generations of collectors were puzzled by an entry in Mint records that showed a circulation strike delivery of 12,000 coins for this year, and many theories arose to explain why the only 1895-dated examples found were from the 880-piece Proof issue. Some said the circulation strikes were never made at all and the 12,000-piece figure represented a bookkeeping error. Others suggest that the 12,000-coin mintage reported for 1895 represents an adjustment to the Mint's ledgers to account for a final delivery of 1894-dated silver dollars. In an article titled "King of Morgan Dollars Revisited" (2006, 2018), Roger W. Burdette provides conclusive evidence from available government documents that, indeed, the Philadelphia Mint did produce 12,000 circulation strike Morgan dollars from 1895-dated dies on June 28 of that year. With the exception of six circulation strikes provided to the Assay Commission (along with four of the Proof 1895 dollars), the entire mintage of this issue must have remained in storage until the coins were destroyed as part of the 270,232,722 silver dollars melted under provision of the Pittman Silver Purchase Act of 1918.<p>To date not a single circulation strike 1895 dollar from the Philadelphia Mint has been confirmed, although the possibility exists that at least a few examples might have survived and await discovery. Of the aforementioned six examples forwarded to the Assay Commission, Burdette shows that only two were destroyed during the Commission's work. One or more of the four remaining coins might have been purchased as souvenirs by Commission members (which was customary in most years), while any that were not would have been mixed with other coins and released from the Mint to banks and sub-treasuries as a matter of routine. Assuming that was the case, and assuming that at least one of those coins avoided being returned to the Mint in later years for melting (or meeting a similar fate at the hands of commercial smelters), anywhere from one to four circulation strike 1895 dollars from the Philadelphia Mint might still exist. Quite a few circulated 1895 dollars are known, however, and it is far more likely that such coins are survivors from the Mint's disposal of unsold Proofs through release into circulation - a common practice during the era, and confirmed by our recent offerings of lightly circulated Proof Liberty Head gold coins of the 1890s and early 20th century from the extensive Fairmont holdings. Returning to the 1895 Morgan dollar, until a circulation strike is positively identified, every collector seeking to assemble a complete date and mint set of this series must acquire a Proof for the Philadelphia Mint 1895. This pleasing Proof specimen will attract strong bids from advanced Morgan dollar collectors.<strong>Thomas N. Shipp Jr.</strong> was a respected U.S. numismatist, best known for assembling a remarkable collection of American Morgan Dollars and gold coins. In September 1986, a portion of his collection was sold in a dedicated auction featuring 803 lots-including proof and mint-condition pieces-underscoring his discerning eye for rarity and quality. The catalog from that sale remains a vital reference for collectors and scholars of U.S. coinage, a testament to Shipp's deep knowledge and connoisseurship.<p>Though publicly available details about his personal life are limited, those who knew him remember a man of the highest ethical standards and enduring generosity. Humble by nature, Shipp valued strong partnerships and contributed quietly to numerous charitable causes. His legacy lives on not only in the coins he so carefully curated, but also in the values he exemplified-integrity, humility, and a genuine commitment to the numismatic and broader philanthropic communities.<p>Now, 40 years after his death, additional lots of his collection are being offered to the public-many of which have remained with his family for decades. These coins, preserved with the same care and discernment that defined Thomas N. Shipp Jr.'s collecting philosophy, provide a rare opportunity to own pieces from one of the most thoughtfully assembled private collections of U.S. coinage. Their release not only honors Shipp's enduring legacy but also invites a new generation of collectors to appreciate the historical and aesthetic significance he so deeply valued.<p>