1894 Proof Morgan Dollar

Coin Details

Auction Record

$83,375 PR69 07-28-2005 Heritage Auctions

Description

The 1894 Proof Morgan Dollar is a proof dollar struck at the Philadelphia Mint, part of the Morgan Dollars 1878-1921 series. With a mintage of 972, this is an extremely rare issue — the lowest mintage among 4 mint variants, representing only less than 1% of total production. The obverse features Liberty facing left wearing a Phrygian cap adorned with wheat and cotton, encircled by stars and the reverse displays an eagle with outstretched wings clutching an olive branch and arrows, surrounded by a wreath. Struck during the Gilded Age of rapid industrialization and the great silver debates, when monetary policy shaped elections and economic destiny. As a proof issue, this coin was struck multiple times on specially prepared polished planchets using polished dies, producing mirror-like fields and frosted design elements prized by collectors. Struck at the original U.S. Mint facility, in continuous operation since 1792. Estimated market value is approximately $5.0K. Struck in 90% silver, 10% copper, weighing 26.73 grams, 38.1 mm in diameter, with a reeded edge. Cataloged as PCGS #87329.