1893-CC Morgan Dollar NGC MS65
PCGS Pop: 13/2 NGC Pop: 7/1
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Morgan Dollar enthusiasts may just let out a collective gasp upon viewing this coin in-hand for the first time. From its clean, original surfaces to its absolutely extraordinary luster for the issue, it is one of the most spectacular examples for the date that you’ll ever see. The 1893-CC typically exhibits very abrasive cheeks and fields due to heavy bag clashing. That is why finding a specimen better than a MS63 can be difficult.
The present specimen exhibits razor sharp detail in the devices – including entirely full feathers on the wings, breast and head of the eagle – as well as pinpoint accuracy in strike throughout the hair. One major attribute is that it’s devises are frosty giving the coin a cameo effect, something that is not normal for a business strike.
This Gem MS65 survivor is among the finest in existence, with just 3 having been recorded in the census in a better grade. The coin is extremely fresh and I could just as easily see this coin in an MS65+ holder.
Six coins have been seen in public sale since 2015 with an average price realized of $96,000. Most notable is the May 2019 record which was an impressive price of $152,750 – a testament to just how extremely desirable this date is in Gem condition! Upon inspection of that coin, it is no more desirable than the present specimen.
1893 saw the election of President Grover Cleveland. The Wild West was roaring, but problems out east caused a massive number of gold coins to be melted. The Morgan Dollar had long been a workhorse since it was introduced back in 1878, but it became even more-so during the 1890’s.This accounts for low survival rates in gem condition for many dates of Morgan Dollars minted throughout the 90’s. Particularly for those coins minted in the western mints of San Francisco and Carson City.
The 1893-CC is among my favorite “go to” coins of the entire series, and a vastly underappreciated issue in MS65 in relation to others. In fact, NGC has graded a mere 7 examples at the Gem level with a single coin known finer. PCGS reports 13 with 2 finer. My experience tells me that both of these reports undoubtedly include re-submissions of the same coin attempting to seek a finer grade – leaving the true number of Gem survivors considerably less than the 20 reported.
If I were to add one of the major sleepers of the series in Gem condition to my portfolio, it would be this one. A low population in comparison to how popular the series is to collect by date, with an unlikelihood many others will ever turn up in such a grade. These factors make it a formidable addition to any world class collection of America’s most beloved series’ of coinage.
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