1895 Morgan Silver Dollar. Proof-66 Cameo (PCGS).This is a mesmerizing example of this legendary rarity with a faint patina of vanilla hues gracing each side. The fields are deeply mirrored and reflective, imparting a strong contrast with the frosty devices that undoubtedly flirts with a Deep Cameo designation. Sharply struck and free from even a single distracting blemish. Just 12 coins have been certified finer by PCGS in this designation. As the sole Proof-only issue in the popular Morgan silver dollar series of 1878 to 1921, the 1895 has long enjoyed near-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 were of the 880-piece Proof issue. Some said the circulation strikes were never released and were subsequently melted as part of the 270,232,722 silver dollars destroyed under the terms of the 1918 Pittman Act. Others believed these coins were never struck at all and the 12,000-piece figure represented nothing more than a bookkeeping error on the part of Mint personnel. Modern numismatic scholarship, however, suggests that the 12,000-coin mintage reported for 1895 represents a bookkeeping adjustment by the Mint to account for a final delivery of 1894-dated silver dollars. In any event, every collector seeking to assemble complete a date and mint set of Morgan dollars must acquire a Proof for the 1895. Only the most advanced collectors, however, will recognize the opportunity offered in this example.
