Silver Dollar, 1895-O, PCGS MS 65

An unusually well-preserved example. The quality of the strike is significantly more robust than most examples encountered. Although the hairs above Liberty’s ear are not completely full, the rest of the coin is as fully and evenly struck as one could hope for; the eagle’s breast feathers are well-delineated, and the beading is sharp. Wayne Miller noted that “full strikes are obtainable, but are almost invariably abraded.” This example is a notable exception to that observation. The surfaces are nearly mark-free; the most noticeable being two small ticks on Liberty’s cheek which appear to be mint-caused inclusions. There is a small field mark before the eagle’s beak, and an indentation on the chest caused by a piece of foreign matter that was struck through. Otherwise a splendidly clean example; the lustre, is, as with most examples, subdued. The lustre, is not, however, chalky, but rather gentle and satiny with a bit of reverse flash, and the whole overlaid with a very pale golden hue. There is some slight doubling of some letters in the obverse legend. One of the top examples known

Kenny Duncan; Jack Lee (December 1991); probably Jefferson Coin and Bullion (circa 1993-1995); Ralph Stone Collection; thence by descent.

FORMERLY IN THE JACK LEE COLLECTION.

The 1895-O is another example of the New Orleans mint working flat out to produce as many silver dollars as possible in the minimum amount of time. The result was a mintage of 450,000 coins, of which most were exceptionally poorly produced. Both Bowers and Guth have written that the 1895-O: “In lower Mint State levels from MS-60 to MS-63 … is the rarest New Orleans Mint dollar today” (Bowers, Encyclopedia), and that “The 1895-O Silver Dollars is one of the most difficult of the series to find in nice condition. The quantity of truly Mint State 1895-O Dollars is very low.” (Guth, PCGS CoinFacts).

This coin was Jack Lee’s primary example as of June 1992, and so-noted on the listing he provided to John Highfill for inclusion in the Complete Encyclopedia (2017 ed.), pp. 478-488. At that time he owned two examples, both PCGS MS 65; one, from John Highfill’s collection was obtained in 1991-2; the other, this coin, was purchased from Kenny Duncan in December 1991. It was deaccessioned by Lee following his purchase of the former Wayne Miller specimen in George Bodway’s collection in 1994; that coin was certified PCGS MS 67 (sold Heritage, November, 2005, lot 2324, $575,000). The two most recent appearances of PCGS MS 65 examples are: Stack’s Bowers, November 2017, lot 10102, $180,000 and Legend, October, 2014, lot 194 [CAC], $258,500.
Certificate Number: 8015969 (Generation 3 holder). PCGS notes four comparable graded examples; three MS 65+; two MS 66; and the single MS 67. (02-18)