The 1895 Morgan Dollar – The King of Morgan’s
The 1895 Morgan Silver Dollar is known as the “King of the Morgan Dollars” because it is the rarest and most valuable of the entire Morgan Dollar series. PF-68 specimens of this rare coin have sold for upwards of $120,000 at auction and today it is estimated that it would sell for well over $200,000.
According to U.S. Mint records, there were 12,000 regular circulation Morgan Silver Dollars struck for 1895, and 880 Proof specimens struck. However, only 75 to 80 of the 1895 Morgan’s have been accounted for, all of them Proofs. Where did 12,000 plus coins go?
Scholars are divided in their opinions as to why the 12,000 business strike specimens of the 1895 Morgan Silver Dollar have vanished into history. Most believe that the coins were never minted in the first place, and that this notation in the Mint accounting ledgers is in error. Many experts believe that the coins were minted, but melted down for various unknown reasons.
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