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1889-CC Morgan Dollar PCGS MS64 DMPL CAC

2023-09-06 21:10:00
1889-CC Morgan Dollar PCGS MS64 DMPL CAC

1889-CC Morgan Dollar PCGS MS64 DMPL CAC

Rick Tomaska's Live Auction Featured Coin

Thursday, September 7th, 2023

 

Join our auction live at 5 PM PST / 8 PM EST

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Our Private Advisory Coin Team has early access to our weekly auction coins. Pre-bidding is now open for this week's stunning selections. Call our Private Advisory Coin team at (800) 778-0624 to join our auction bidding. Your Personal Advisor can accept your confidential bid for this coin.

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  • Mintage: 350,000
  • NGC Population: 13/0
  • PCGS Population: 21/0
  • C.A.C. Population: 8/0
  • CU Price Guide: $255,000 (Non-CAC)
  • In 1859, America’s earliest and at the time richest silver bonanza was discovered and would remain the dominating event in Nevada history for the next twenty years, the Comstock Lode. At its peak years from 1876-1878 silver ore worth about $36,000,000 was extracted annually.
  • With the San Francisco Mint being the closest branch mint there was a clear need for a more central location to deposit the massive silver quantities. Abraham Curry, founder of Carson City, advocated for the new branch mint to be built in Carson City due to its proximity to the mines.
  • In 1863, Congress passed legislation for the creation of the new U.S. branch mint in Carson City, Nevada. Three years would pass before construction of the new mint began and under lead designer Alfred Mullet, who would later design the famous Granite Lady building of the San Francisco Mint, the Carson City Mint finally stood tall in 1869.
  • The Carson City Mint would strike its first silver and gold coins in 1870 and produced them through 1885, when there was a temporary shut down for four years. Production would then resume in 1889, but as the Comstock Lode continued to dry up there was less of a need for the Carson City Mint and in 1893, coining operations ceased indefinitely
  • The Carson City Mint struck far fewer Morgan Dollars than any of the other branch mints, including the Denver Mint which only struck Morgan Dollars in 1921.
  • Morgan Dollars struck at the Carson City Mint in 1889, when production resumed, are considered the “King of Carson City Morgan Dollars.”

  • The minuscule 350,000 examples struck in those last months of 1889, were circulated heavily and some believe that as many as 250,000 coins were melted down when it was all said and done.
  • Approximately 7% of all coins certified for the 1889-CC $1 reside in MS condition. The next lowest Carson City Morgan date being the 1893-CC at roughly 39%.
  • While all Uncirculated 1889-CC Morgan Dollars are rare and difficult to obtain, the issue becomes incredibly scarce in MS64 and finer condition. Among the roughly 1,200 Mint State examples (MS, MSPL & MSDMPL) certified for the 1889-CC $1, fewer than 150 specimens have survived in MS64 or finer condition.
  • Furthermore, NGC & PCGS combined have certified roughly 7.7 million Morgan Dollars across all dates and grades. Only about 2.5% contain any sort of Prooflike surfaces and less than 1% show enough contrast between the frosty devices and mirrored fields to be classified as Deep Mirror Prooflike (DMPL).
  • Although there are zero MS65DMPL specimens known, there are two MS65PL examples known which have traded in the last decade for an average priced realized of $294,000!
  • To simplify, the specimen on display is one of the finest known examples in existence for one the scarcest issues in the entire Morgan Dollar series, the King of Carson City Morgan Dollars!