Morphy Auctions will host a Premier Coins Auction on Monday, May 19th, at 9 a.m. Eastern Time in Denver, Pennsylvania. The auction will feature 187 lots from a single-consignor collection with a total value of over $3 million. All lots will be sold unreserved.
The collection includes a unique grouping of high-grade Morgan Silver Dollars from the first year of production (1878) and the last year of production (1893) at the Carson City Mint, as well as the largest offering of rare Mormon gold coins ever to be publicly auctioned.
The highlight of the Morgan silver dollar lineup is an 1893-CC Silver Dollar, which is PCGS-graded MS65. This coin was struck during the Carson City Mint’s final year of operation. By 1893, the small Carson City Mint no longer had access to its ore supply after the Comstock vein was completely exhausted, leaving no other option but to close down. The stellar 1893-CC Morgan $1 coin is expected to sell for $60,000-90,000. It has already attracted a $30,000 absentee bid.
Also from the Carson City Mint, an 1889-CC Morgan Silver Dollar is PCGS-graded MS64 Gold River, an industry reference to the ore’s source, e.g., a river, or area adjacent to a river where gold was once mined. This coin is estimated at $40,000-60,000.
A Capped Die 1879-CC Morgan Silver Dollar is PCGS-graded MS65+ and CAC-certified. This coveted Carson City coin, described as “Capped Die” because of a die anomaly that required it to be restruck, is exceptionally rare. Only one-third of the total mintage of 1879-CC Morgan Dollars are of the Capped Die variety, and of those, only 19 examples have been graded in Mint State 65 condition. On top of that, only five such coins are graded even higher, including the MS65+ auction example, which is estimated at $30,000-50,000.
The auction will also feature several highly collectible Morgan Silver Dollars struck at the San Francisco Mint. An 1893-S Morgan, PCGS-graded AU55, comes to auction with an estimate of $35,000-45,000, while an 1892-S Morgan Silver Dollar PCGS-graded MS60 is assigned a $30,000-40,000 estimate.
The spectacular beauty of Cameo Silver Dollars sets them apart from other Morgans. “Cameo” refers to the contrast between the design – whether raised or recessed – and the background field, which renders a frosted appearance with a polished, mirror-like background. The collection’s 1895 Morgan Silver Dollar, PCGS-graded PR63+CAM (Proof Cameo), is CAC-certified and estimated at $40,000-60,000. An 1896 Morgan is PCGS-graded PR67+DCAM (Deep Cameo), the latter referring to Proof coins that exhibit a deep, even frosting on the devices, or design elements, thus creating a strong contrast against a mirrored field. CAC-certified, it has an estimate of $30,000-40,000.
The cameo effect adds a gorgeous extra quality to gold coins as well. A 1900 $20 gold coin in the auction is described as PF64 Ultra Cameo, meaning it exhibits a superior level of cameo contrast as compared to a standard Cameo Proof. The estimate on this coin is $50,000-70,000.
An exciting category that has generated widespread interest since the auction catalog was first published online is Mormon gold coinage. Privately issued by The Church of Jesus Christ of Latter-day Saints between 1848 and 1860, Mormon gold coins were struck in $2.50, $5, $10, and $20 denominations. All of the coins were minted in Salt Lake City, initially from gold found at Mormon Island, California, and during the last year of production, from a Colorado source. In total, around 4,000 coins were made, some bearing an inscription in the Deseret alphabet: “Holiness to the Lord.”
Mormon gold coins are highly prized but very rarely available to purchase at auction. There are 15 of these wonderful coins in the Morphy’s auction, and based on the inquiries so far, the
