1889-CC $1 MS64 Prooflike PCGS. Brilliant and sharply struck with impressive cameo contrast created by fully mirrored fields and lustrous devices. This piece has a far superior strike to most, and it displays excellent eye appeal. The '89-CC is easily the rarest Carson City Mint Morgan dollar, and it is one of the most famous dates in the series, along with the 1893-S and the 1895 proof issues. While all 1889-CC Morgan dollars are rare in Mint State grades, especially so in Choice and Gem condition, many of those pieces have prooflike surfaces, perhaps half or more of all Mint State examples.
It seems that many or most of the 350,000 coins minted were placed in circulation toward the end of the 19th century, ensuring a supply of circulated examples for collectors today. While most collectors certainly desire a Mint State coin, the reality is that few have the budget to obtain such a coin. For those who do, this example is a remarkable piece that will be enjoyed for years to come.
At one time, this date was actually considered to be overrated in Mint State grades. However, such days are long past, and now market prices for this issue in higher grades may actually be too low. Periodically, beginning in the 1930s, small groups of '89-CC dollars were distributed by the Treasury department. While rumors of bag quantities persist and were especially rampant in the 1950s, none have ever turned up. Dave Bowers reported declining an opportunity to buy a bag of this date from Ben Stack many years ago. Population: 7 in 64 Prooflike, 0 finer (2/07).
From The Jackson Hole Collection.(Registry values: P9, N7079)