By CoinWeek ….
Later tonight, bidding comes to a close on GreatCollections.com for this impressively struck 1895 Morgan dollar graded Proof 66 by NGC.
The 1895 Morgan dollar struck in Philadelphia was a Proof-only issue, with a mintage of 880 (the existence of 1895 Morgan dollar business strikes from Philly is a notorious numismatic mystery, worth mentioning here as one of the great what-ifs of American coin collecting). Keeping in mind the probability of crossovers, NGC has graded 22 examples at Proof 66 and PCGS has graded 15. At higher grades, PCGS reports four certified Proof 67, one certified 67+, and a top pop of one at Proof 68. The NGC census is slightly more populous, with one certified Proof 66+, 10 graded 67, one certified 67+, three graded Proof 68, and one certified 68+. So according to the population reports of the top two third party grading services, the current example offered by GreatCollections is at a top level for grade while still being a highly collectible coin.
And auction results over the last couple decades bear out an increase in demand for the issue.
Fifteen years ago, prices for an NGC PF-66 1895 Morgan were in the $36,000 – $56,000 range, going by the January Heritage Auctions FUN sale ($36,800 USD), Superior Galleries sale of the David Wallace Collection ($48,875), and Heritage Auctions Long Beach Expo Signature sale in May ($56,350).
By the 2005 FUN Show, an 1895 NGC PF-66 was going for $80,500 (Heritage).
Following a dip in 2011 ($74,750 at the April Central States Heritage Auctions Platinum Night sale), records from last year show a marked increase in what bidders have been willing to pay. A May 2018 Sotheby’s auction saw a specimen sell for $150,000. PCGS-certified Proof 66s have not lagged that far behind, either; a November 2018 Heritage auction in Dallas featured an example that sold for $102,000.
So with the end of bidding on GreatCollections fast approaching tonight at approximately 9:20 Eastern Time, at the time of publication the price for the present piece sits at $57,500 after 14 bids.