JFS Registry Set of Proof Morgan Dollars to be Offered by Heritage!

Dallas, Texas: Heritage Galleries & Auctioneers (HG&A) will offer the finest set of Proof Morgan Dollars, the JFS Registry Set, at their official January 3-7, 2006 Florida United Numismatists Signature Auction.

"This is a spectacular collection," said Greg Rohan, President of HG&A, "including, as it does, several branch mint proofs."

Rohan continued, "The set now stands as:

#1current and #1 all-time Morgan Dollars Basic Set Proof (1878-1904) #1 current and #2 all-time Morgan Dollars with Varieties Proof (1878-1921) #1 current and #1 all-time Morgan Dollars with Branch Mints Proof (1878-1921)."

"One of the highlights of this collection," Rohan said, "is the 1893-CC $1 PR64 PCGS. This is only the fifth example of this extremely rare branch mint proof striking we have handled in the past 15 years. Wayte Raymond stated many years ago that only 12 such coins were struck, but we do not know what documentation he used to support this claim. The surfaces of this piece are every bit the equal of proofs struck in the Philadelphia Mint during this era. The coin meets all the criteria for a branch mint proof as set out in an October 1995 Coin World article by HG&A Chief Cataloger Mark Van Winkle, based on direct examination of the branch mint proofs contained in the Anita Maxwell Trust of Silver Dollars."

"The surfaces of this piece are brilliant," Rohan said, "except for a thin line of grease that was struck into the planchet at the time of manufacture which angles downward from the junction of Liberty's throat and neck. The fields are deeply reflective, and are every bit the equal of a P-mint proof struck in this year. In fact, in some ways it is actually superior--the strike on this coin is absolutely complete, whereas on Philadelphia proofs from 1893 they often show central weakness. The devices are lightly frosted and provide a noticeable two-toned contrast against the deeply mirrored fields. This piece is of the greatest rarity and importance to Dollar collectors."

"Another fine piece from this collection is the 1921-S $1 PR64 PCGS, continued Rohan. "The appearance of a 1921-S proof Morgan dollar at a public sale is cause for excitement. It is thought that fewer than 25 of these coins were struck, and their appearance on the market is infrequent. Walter Breen, in his 1977 Encyclopedia of United States and Colonial Proof Coins, refers to what may be the first report of the '21-S proof Morgan: 'Wayte Raymond told me in 1951 that Farran Zerbe had those coins made at San Francisco to go with the Philadelphia proofs from the first dollar dies received at the mint.' Stuart Mosher, who was in charge of the coin collections in the Smithsonian Institution, elaborated on Zerbe's 1921-S Morgan proof involvement in an article he published in the July 1955 The Numismatist. Mosher said that Zerbe was in California in 1921 awaiting the arrival of the dies that were to be used to strike the first Peace dollars that he had designed. The dies that did arrive turned out to be those for the old Morgan design that had not been coined since 1904. The story goes that Zerbe told the chagrined Mint officials that they could mollify his disappointment 'if they would strike off a few Morgan dollars from the new 1921 dies in proof condition. They were happy to oblige and manufactured about two dozen which he bought and later handed out to his various coin collecting friends.'"

The nearly brilliant surfaces of the specimen offered in the present lot display a thin veneer of barely discernible champagne color," Rohan said, "accented by occasional speckles of gold-tan patina in the border areas. The design elements are well executed, save for minor softness on Liberty's ear lobe, in the hair above the ear, and on the eagle's breast feathers. A few minor contact marks on Liberty's face and neck, and some wispy hairlines scattered about, preclude a higher grade. Pronounced die striations are also noted around portions of the reverse margins, an angling die scratch is visible through the top of the second 1 in the date, two spots of die polish are seen below the fold in the upper part of the cap, and there is complete die polish between the back of the eagle's neck and left (right facing) wing. The above diagnostics on this issue were first identified by Van Winkle in his investigation of several branch mint proof Morgan dollars (including the 1921-S) from the Anita Maxwell Trust consignment to the 1995 ANA and published in the aforementioned issue of Coin World."

The set, in its entirety, includes:

1878 8TF $1 PR66 PCGS.
1878 7TF Reverse of 1878 $1 PR67 PCGS.
1879 $1 PR66DC PCGS.
1880 $1 PR68CA PCGS.
1881 $1 PR67 PCGS.
1882 $1 PR68CA PCGS.
1883 $1 PR66CA PCGS.
1884 $1 PR67 PCGS.
1885 $1 PR66CA PCGS.
1886 $1 PR66 PCGS.
1887 $1 PR67 PCGS.
1888 $1 PR65CA PCGS.
1889 $1 PR68 PCGS.
1890 $1 PR67CA PCGS.
1891 $1 PR68CA PCGS.
1892 $1 PR68CA PCGS.
1893 $1 PR67DC PCGS.
1893-CC $1 PR64 PCGS.
1894 $1 PR67 PCGS.
1895 $1 PR67DC PCGS.
1896 $1 PR66DC PCGS.
1897 $1 PR67CA PCGS.
1898 $1 PR67DC PCGS.
1899 $1 PR68CA PCGS.
1900 $1 PR67DC PCGS.
1901 $1 PR66CA PCGS.
1902 $1 PR67 PCGS.
1903 $1 PR66 PCGS.
1904 $1 PR67 PCGS.
1921 Zerbe $1 PR66 PCGS.
1921 Chapman $1 PR64 PCGS.
1921-S $1 PR64BM PCGS.

For more information about Heritage's auctions, and a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit our Permanent Auction Archives at HeritageGalleries.com.

To reserve your copy of any Heritage auction catalog, please contact Nicole Jewell at 1-800-872-6467, ext. 272, or visit HeritageGalleries.com to order by email.