Most Expensive Morgan Dollar Ever Sold At Auction
The Morgan Dollar is a silver coin that was minted in the United States from 1878 to 1904, and then again in 1921. These coins were named after their designer, George T. Morgan, who was an assistant engraver at the United States Mint.
Over the years, many Morgan Dollars have been sold at auctions for high prices due to their rarity and historical significance. However, there is one Morgan Dollar that stands out as the most expensive coin ever sold at auction.
The 1895 Morgan Dollar
The 1895 Morgan Dollar is a unique coin that was never released into circulation. Only 12 of these coins were ever minted, as the United States Mint stopped producing them that year. Today, only 9 of these coins are believed to exist, making them incredibly rare and valuable.
In 2013, one of these coins was sold at auction for a staggering $10 million. This coin, known as the "King of Morgan Dollars," was graded as Proof-64 by the Professional Coin Grading Service (PCGS). This particular coin had been in the possession of the famed collector Louis E. Eliasberg Sr., who had amassed one of the most complete collections of United States coins in history.
The Rarity of the 1895 Morgan Dollar
The reason that the 1895 Morgan Dollar is so rare is due to a decision made by the United States Mint. In 1895, the Mint decided to stop producing silver dollars for circulation, as they were no longer needed for commerce. However, a few coins were still minted for collectors and as presentation pieces.
For some reason, the Mint did not record how many of these coins were produced, and it is believed that only 12 were made. Of these 12 coins, it is believed that 9 still exist today. The remaining coins are highly coveted by collectors and investors, and are considered to be some of the rarest and most valuable coins in the world.
The Historical Significance of the Morgan Dollar
The Morgan Dollar is not only rare, but it also has historical significance. The coin was introduced in 1878, and was used in everyday commerce until 1904. It was then reintroduced in 1921, but was only produced for one year. The coin was minted in several different locations across the United States, including Philadelphia, New Orleans, San Francisco, and Denver.
The Morgan Dollar was used during a time of great change in the United States. It was used during the height of the Industrial Revolution, and during a time when the country was expanding westward. The coin features an image of Lady Liberty on the front, and an eagle on the back. It is a symbol of American history and progress, and is highly sought after by collectors and investors alike.
Conclusion
The 1895 Morgan Dollar is the most expensive coin ever sold at auction. It is incredibly rare, with only 9 known examples in existence. The coin is not only valuable, but it also has historical significance, as it represents a time of great change and growth in the United States. The Morgan Dollar is a symbol of American history and progress, and will continue to be highly coveted by collectors and investors for generations to come.