100¢
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Dollar coins have been minted in the United States in gold, silver, and base metal versions. Silver dollars, the first dollar coin issue, were minted beginning in 1794.
The term silver dollar is often used for any large white metal coin issued by the United States with a face value of one dollar; although purists insist that a dollar is not silver unless it contains some of that metal. Gold and gold-colored dollars have also been produced by the United States. The Sacagawea and Presidential dollars are usually referred to as "golden", despite not containing any gold, as they are a "golden" color.
Dollar coins have found little popular acceptance in circulation in the United States, despite several attempts since 1971 to phase in a coin in place of the one dollar bill. This contrasts with currencies of many other developed countries, where denominations of similar value exist only in coin, such as the Canadian Loonie and Toonie, British 50 pence coin (as well as the 1 pound and 2 pound British coins), the 1 and 2 Australian Dollar coins, the 50 New Taiwan dollar coin, 100 and 500 Japanese yen coin, 1 Euro coin and 2 Euro coin. These coins have largely succeeded because of a removal (or lack) of their corresponding paper issues, whereas the US is resistant to the removal of the dollar bill from production and circulation.
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[edit] 100¢ ($1) Coin of the United States of America
- Value: 1 U.S. dollar
- Mass: 8.100 g (0.260 troy oz)
- Diameter: 26.5 mm (1.043 in)
- Thickness: 2.00 mm (0.079 in)
- Edge: Edge lettering
- Composition: 88.5% Cu, 6% Zn, 3.5% Mn, 2% Ni
- Years of Minting: 2007–Present
Obverse
- Design: Portraits of presidents, with a new coin released every three months
- Designer: Depending on Portrait
- Design Date: 2007–2016?
Reverse
- Design: Statue of Liberty
- Designer: Don Everhart
- Design Date: 2007
[edit] Colonial and Post-Colonial Dollar Coins
Before the Revolutionary War, coins from many European nations circulated freely in the American colonies, as well as decimal coinage issued by the various colonies. Chief among these was the Spanish silver "dollar" coins (also called pieces of eight or eight reales) minted in Mexico and other colonies with silver mined from Central and South American mines. These coins, along with others of similar size and value, were in use throughout the colonies and later the United States and were legal tender until 1857.
In 1776, the Continental Congress authorized plans to produce a silver coin to prop up the rapidly failing Continental--the first attempt by the fledgling US at paper currency. Several examples were struck in brass, pewter, and silver, but a circulating coin was not produced, due in large part to the financial difficulties of running the Revolutionary War. The Continental Dollar bears a date of 1776, and while its true denomination is not known, it is generally the size of later dollars, and the name has stuck. The failure of the Continental exacerbated a distrust of paper money amongst both politicians and the populace at large. The letters of Thomas Jefferson indicate that he wished the United States to eschew paper money and instead mint coins of similar perceived value and worth to those foreign coins circulating at the time.
[edit] Early Dollar Coins (1794–1803)
The Coinage Act of 1792 authorized the production of dollar coins from silver. The U.S. Mint produced silver dollar coins from 1794 to 1803, then ceased regular production of silver dollars until 1836. The first silver dollars, precisely 1,758 of them, were coined on October 15, 1794 and were immediately delivered to Mint Director David Rittenhouse for distribution to dignitaries as souvenirs. Thereafter, until 1804, they were struck in varying quantities. There are two obverse designs: Flowing Hair (1794-1795) and Draped Bust (1795-1804). There are also two reverse designs used for the Draped Bust variety: small eagle (1795-1798) and heraldic eagle (1798-1804). Original silver dollars from this period are highly prized by coin collectors and are exceptionally valuable, and range from fairly common to incredibly rare. Due to the early practice of hand engraving each die, there are dozens of varieties known for all dates between 1795-1803. As the earliest examples of the largest circulating coins ever struck by the United States Mint, they bear a certain mystique that has enthralled collectors for two centuries.
It is also one of only two denominations (the other being the cent) minted in every year from its inception during the first decade of mint operation. However, the order was given by President Thomas Jefferson to halt silver dollar production due to the continued exportation of US dollars. The Spanish 8 Reale, which was slightly heavier than the US dollar, nonetheless traded at a 1-to-1 ratio. So US dollars went to the Caribbean, were traded for heavier 8 Reales, and those were then brought back to the US, where they would be recoined for free into more US dollars, and the difference in silver was kept by the exporter. This ensured that no dollars would circulate in the US, but would instead be exported for their heavier counterparts overseas, leaving little but old, foreign money to circulate in the United States in a process known as Gresham's Law.
This highlights a dilemma that would continue to haunt the United States mint well into the 20th century: if a coin was too heavy in precious metal, it would simply be melted and sold for more as bullion. If it was too light, it would be exported for heavier weight coins from foreign governments. Maintaining this precarious balance is eventually what led to the abandonment of gold as specie worldwide in the 1930s and 40's, and silver rapidly following suit by the late 1960s and early 1970s.
[edit] The 1804 Silver Dollar
The 1804 silver dollar, a United States dollar coin, is one of the rarest and most famous coins in the world, due to its unique history.
[edit] Class I
In 1804, United States Mint records indicate that 19,750 silver dollars were struck. However, in keeping with common Mint practice at the time, these were all minted from old but still-usable dies dated 1803, and are indistinguishable from the coins produced the previous year. 1804-dated silver dollars did not appear until 1834, when the U.S. Department of State was creating sets of coins to present as gifts to certain rulers in Asia in exchange for trade advantages. The U.S. Government ordered the Mint to produce "two specimens of each kind now in use, whether of gold, silver or copper". Since the silver dollar was still in use, but had last been produced in 1804, Mint employees struck several dollars with an 1804 date. Perhaps unknowingly, they therefore created a coin that had not previously existed. They also struck several proof 1804 eagles ($10 gold pieces) about the same time for inclusion in the sets. (The 1804 proof eagles have not attracted the same attention since there are many specimens of the 1804 regular issue eagle. The 1804 eagle is perhaps more provocative than the dollar because it is not the legally defined weight for a gold piece of that value struck in 1834.)
The first 1804 silver dollars minted in 1834 were presented as gifts to the King of Siam and the Sultan of Muscat. These silver dollars are known among numismatists as “original” 1804 dollars. Eight of these coins are known to exist. One currently resides in the Smithsonian Institution, one is in the American Numismatic Association museum, and the other six are in private collections.
[edit] Class II & III
Between 1858 and 1860, a small number of 1804 silver dollars were illegally struck by an employee of the Mint named Theodore Eckfeldt, and sold to coin collectors through a store in Philadelphia. The number of coins minted is believed to be between ten and fifteen, struck with two separate coin dies, known to numismatists as "Class II" and "Class III" strikes. The illegally minted coins (which are not classified as counterfeit because they were actually produced at the United States Mint) were hunted down and retrieved by officials of the Mint. Most were destroyed. Today, only one Class II coin exists. This unique piece, currently residing at the Smithsonian Institution, appears to have been struck over a Swiss Shooting Thaler. There are six known Class III specimens, which can be distinguished from Class I pieces by their reverse design.
[edit] Owners
Popular legend states that the rare coin given by King Rama IV of Siam to Anna Leonowens, as seen in the story of “Anna and the King of Siam” and the movie The King and I, was indeed the same 1804 silver dollar produced in 1834 as a gift to Siam. This coin was kept in Anna’s family for several generations, until in the 1950s it was sold by a pair of British ladies claiming to be Anna’s descendants. This coin was displayed as part of the “King of Siam” collection at the Smithsonian Institution in 1983, where it was given the name “the King of Coins.” It was purchased by an anonymous collector in 2001, who purchased the entire set of coins from the King of Siam collection for over $4 million.
On August 30, 1999, an “original” 1804 silver dollar from the 1834 minting was sold at auction for over $4 million.
[edit] Counterfeits
Various silver mints have produced “commemorative” replicas of the 1804 dollar over the years, and these replicas are widely available to coin collectors. The replicas have little worth as collectors’ items, with their silver content fetching them a typical price of between ten and twenty-five dollars. These duplicate 1804 silver dollars can frequently be found on Ebay and other auction sites. Con artists and perpetrators of fraud have been known to attempt to sell these replicas for large amounts of money, claiming that they are the original 1804 silver dollar.
[edit] Seated Liberty Dollar (1836–1873)
The Seated Liberty Dollar is a silver dollar coin issued by the United States government from 1840 to 1873. The coin is named for the obverse design which was uniform and matched the Half dime, Dime, Twenty-cent piece, Quarter, and Half dollar. Its obverse and reverse were both designed by Christian Gobrecht.
[edit] Seated Liberty Dollar of the United States of America
- Value: 1.00 U.S. dollars
- Mass: 26.73 g
- Diameter: 38.1 mm
- Thickness: ? mm
- Edge: reeded
- Composition: 90% Ag, 10% Cu
- Years of Minting: 1840–1873
Obverse
- Design: Lady Liberty seated holding the Union Shield
- Designer: Christian Gobrecht
- Design Date: 1837
Reverse
- Design: A Bald Eagle holding arrows and an olive branch with the Union Shield on its chest
- Designer: Christian Gobrecht
- Design Date: 1840
[edit] Specifications
- Obverse design: Lady Liberty seated holding the Union Shield
- Reverse design: A Bald Eagle holding arrows and an olive branch with the Union Shield on its chest
- Edge: reeded
- Weight: 26.73 g
- Diameter: 38.1 mm
- Composition: 90% silver, 10% copper
- Silver Content: 0.77344 troy oz (24.057 g)
[edit] History
Seated Liberty Dollars were introduced in 1840 and were minted in larger quantities than the sparsely minted Gobrecht Dollar that preceded it. The dollars were used in general circulation until 1853. In 1853, the value of the silver was more than the face value of the coin. The coin was continued to be minted mainly as a trade coin to be used in the Orient. This ended in 1870 when the price of silver lowered allowing the dollars to be placed back in normal circulation.
[edit] Mints
Mintmarks appear underneath the eagle's talons on the reverse. Mintmarks include:
- Blank (P - Philadelphia Mint in Philadelphia, Pennsylvania)
- CC (Carson City Mint in Carson City, Nevada)
- O (New Orleans Mint in New Orleans, Louisiana)
- S (San Francisco Mint in San Francisco, California)
[edit] Rarities
This series boasts some spectacular rarities. Of this series, the most valuable coin is the 1870-S, with 12-15 known. However, the rarest of the series is a single known 1851-O, a coin struck under unknown and mysterious circumstances. It is not listed in the Guidebook of United States Coins, and is also unlisted in Breen's Complete Encyclopedia of US and Colonial Coins. It's value likely far exceeds that of the 1870-S, but as it has not been offered for sale publicly, nor any private sale confirmed, it's value at this time is unknown.
Also quite rare are the issues of 1851, 1852, 1858 (which was a proof-only restrike in the 1860's-1870's), 1871-CC, 1872-CC, and 1873-CC, all with only 50-500 pieces of each known to exist.
The 1866 No Motto piece is correctly described as a fantasy piece, created in the 1870's along with the No Motto quarter and half dollar, for a favorite Mint customer. There are 2 known, and they are classified as patterns, and not regular issues nor restrikes.
[edit] Gold Dollar Coins (1849–1889)
The gold dollar was a United States dollar coin produced from 1849 to 1889. Composed of 90% pure gold, it was the smallest denomination of gold currency ever produced in the United States. When the US system of coinage was originally designed there had been no plans for a gold dollar coin, but in the late 1840s, two gold rushes later, Congress was looking to expand the use of gold in the country’s currency. The gold dollar was authorized by the Act of March 3, 1849, and the Liberty Head type began circulating soon afterward. Because of the high value of gold, the gold dollar is the smallest coin in the history of US coinage.
[edit] Gold Dollar of the United States of America
- Value: 1.00 U.S. dollar
- Mass: 1.672 g
- Diameter: 13 mm (1849-1854), 15 mm (1854-1889)
- Edge: reeded
- Composition: 90.0% Au, 10.0% Cu
[edit] History
The gold dollar had its origins more than a decade before the Act of March 3, in the Carolina gold rush of the 1830s. The sudden availability of gold caused the US government to make several changes to its coinage system. Gold coins were minted in considerably larger quantities, and new mints were opened at Charlotte and Dahlonega solely for the production of gold coins. It was around this time that the first gold dollars were minted in the United States, but not by the government. A North Carolina jeweler by the name of Alt Christoph Bechtler capitalized on the gold rush, by offering to turn prospectors’ raw gold into coins. He began offering this service in the early 1830s, and by 1840 he had produced over $2.2 million in gold coinage. Nearly half of this was in the form of gold dollars.
Bechtler’s actions were perfectly legal at the time, but his success attracted the attention of the US government. It was suggested by members of the government that the US Mint take part in this new, profitable venture and begin minting gold dollars of their own. In 1836, Congress authorized the US Mint to do just that, but Mint Director Robert Patterson opposed the idea, and nothing came of the matter for the time being. In 1849 however, things changed. A new gold rush in California had sparked demand yet again for more gold coinage. Director Patterson still objected, but was unable to dissuade Congress. The Act of March 3, 1849 authorized production not only of gold dollars, but another new coin, the double eagle. Production of both denominations would soon begin.
[edit] Liberty Head Type (1849–1854)
Designed by James B. Longacre, the first type of gold dollar is known as the “Liberty Head” type or the “Type I” gold dollar. The obverse of the coins depicts Liberty's head circled by thirteen stars. She faces to the left and wears a coronet inscribed with the word "LIBERTY". The reverse depicts a simple wreath encircling the date and value of the coin, and the inscription “UNITED STATES OF AMERICA”. Weighing 1.672 grams, the coin had a composition of .900 gold and .100 copper. It therefore contained .04837 ounces of pure gold. Starting in 1849, a quantity of the Liberty Head gold dollar was minted each year at Philadelphia and Dahlonega. The coin was also minted at Charlotte, New Orleans, and San Francisco. The quantity minted in total each year ranges from 511,301 in 1850 to 4,384,149 in 1853. However, a problem soon arose with this type. The Liberty Head gold dollar had a diameter of only 13 mm. At less than three-quarters the size of the present-day dime, it was the smallest coin in U.S. history. Because it was so small, it could be easily lost despite its high value. As a result of this issue, many people were highly critical of the new coin. In response to their objections, the US Mint began experimenting with new designs. It was important that the weight of the coin remain the same because of gold values, so they soon began experimenting with putting a hole in the middle of a larger coin. These plans were scrapped when James Snowden became Mint Director in 1853. His idea was that the coin simply be made wider but thinner, and that James Longacre redesign its faces.
[edit] Indian Head Type
[edit] Small Head (1854–1856)
In 1854 the US Mint issued the redesigned gold dollar with an increased diameter of 15 mm. As planned, neither its weight not its composition was changed. James Longacre designed a new obverse for the coin based on his work with the three-dollar piece. The head depicted on the obverse has commonly been described as an "Indian princess," and gave this type its name. However, historians have suggested that the design is actually based on a Roman marble figure, to which a headdress was added by Longacre. More specifically, it has been suggested that he based the design on “Crouching Venus” a statue on display in the Philadelphia museum. In addition to the obverse, the reverse of the gold dollar was also modified somewhat, and the inscription “UNITED STATES OF AMERICA” was moved to the obverse. The overall wreath design remained unchanged however. In the few years of this type's production, only six date mint mark combinations were created: 1854, 1855, 1855C, 1855D, 1855O, and 1856S. The quantities minted in total each year were 783,943 in 1854, 824,883 in 1855, and 24,600 in 1856. Although the diameter of the gold dollar had been considerably improved, the new Indian Head type was not free from problems. The height of the relief was such that very few of the coins produced were fully struck, and as a result the design was not sturdy enough for circulation. The Mint would have to redesign the gold dollar once again.
[edit] Large Head (1856–1889)
In 1856, a newly durable gold dollar was released by the Mint. Dubbed “the Large Head type,” Longacre's new design was very similar to that of the Small Head type, but the size of the Indian head on the obverse increased, while at the same time it became more flat. The headdress changed location as well, and the details of the face were slightly altered. The new type was minted continuously at Philadelphia, but in certain years quantities were also produced at Charlotte, Dahlonega, and San Francisco. In addition, proofs were minted at Philadelphia from 1859 on. The quantity of proofs minted each year ranges from an estimated 15 in 1856 to 1,779 in 1889. In total, the quantity of coins minted each year ranges from 420 in 1875 to 1,764,396 in 1856. Production of the gold dollar was discontinued in 1889, but the coin continued to circulate in some areas until the country abandoned the gold standard in the early 1930s.
[edit] Trade Dollar (1873–1885
The Trade Dollar was a silver dollar coin issued by the United States solely for trade in the Orient with China, Korea, and Japan. It is 420 grains in weight, composed of 90% silver and 10% copper, as opposed to the 412 grains of a standard US silver dollar of the time period.
[edit] Trade Dollar of the United States of America
- Value: 1.00 U.S. dollars
- Mass: 27.2 g
- Diameter: 38.1 mm
- Thickness: 3.1 mm
- Edge: Reeded
- Composition: 90% Ag, 10% Cu
- Years of Minting: 1873-1885
Obverse
- Design: Lady Liberty seated holding an olive branch towards the west
- Designer: William Barber
- Design Date: 1873
Reverse
- Design: A Bald Eagle holding arrows and an olive branch in its talons. Coin specifications minted below. 420 GRAINS, .900 FINE
- Designer: William Barber
- Design Date: 1873
[edit] History
The Trade Dollar was produced in response to other Western powers, such as Great Britain, Spain, France, and particularly Mexico, circulating large, crown size silver coins in Asia. Trade Dollars had a slightly higher silver content than the regular circulation Seated Liberty Dollars and Morgan Dollars, to compete with these foreign trade coins. Most Trade Dollars ended up in Asia during their first two years of production, where they were very successful. Many of them exhibit chopmarks which are counterstamps from Asian merchants to verify the authenticity of the coins. Many trade coins of the western powers and large silver coins from China, Korea, and Japan also bear these chopmarks. While most chopmarked coins are generally worth less than those without, some of the more fascinating chopmarks can actually give the coin a modest premium.
Trade Dollars did not circulate in the United States initially, but were legal tender for up to $5. Things changed, however, in 1876, when the price of silver spiraled downward as western producers dumped silver on the market, making the Trade Dollar worth more at face value than its silver content. That resulted in Trade Dollars pouring back into the United States, as they were bought for as little as the equivalent of 80 US cents in Asia, and were then spent at $1 in the United States. This prompted Congress to revoke their legal tender status, and restrict their coinage to exportation demand only. However, this didn't stop unscrupulous persons from buying Trade Dollars at bullion value, and using them for payment as $1 to unsuspecting workers and merchants.
Production of the Trade Dollar was officially halted for business strikes in 1878, and thereafter from 1879-1885, produced only as proof examples of the coin. The issues of 1884 and 1885 were produced surreptitiously, and were unknown to the collecting public until 1908.
In February of 1887, all non-mutilated outstanding Trade Dollars were made redeemable to the United States Treasury, and approximately 8 million of them were turned in. They remain the only US coin to ever be permanently demonetized.
[edit] Mints
The majority of Trade Dollars were minted at the mints in San Francisco and Carson City, as these mints obviously had easier access to Asia at the time. Many dollars were also minted in Philadelphia including all proofs. The mint mark is located on the reverse above the letter "D" in DOLLAR.
- Blank (P - Philadelphia Mint in Philadelphia, Pennsylvania)
- CC (Carson City Mint in Carson City, Nevada)
- S (San Francisco Mint in San Francisco, California)
[edit] Rarities
In the series of Trade Dollars, all examples are fairly valuable, even chopmarked examples. The dates with the most value are the last six years, 1879-1885. These coins were minted only as proofs and in much smaller quantities than other dates:
- 1879: 1,541
- 1880: 1,987
- 1881: 960
- 1882: 1,097
- 1883: 979
- 1884: 10
- 1885: 5
The proof only issues of 1884 and 1885 were unknown until 1908, although there were hints and rumors of their existence as far back as March, 1884. The 1879-1883 proofs all have circulated examples in existence.
==Morgan Dollar (1878–1904; 1921) The Morgan Dollar is a silver United States dollar coin. The dollars were minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan, who designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty's neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams) per coin.
[edit] Morgan Dollar of the United States of America
- Value: 1 U.S. Dollar
- Mass: 26.73 g
- Diameter: 38.1 mm
- Thickness: 3.1 mm
- Edge: Reeded
- Composition: 90.0% Ag, 10.0% Cu
- Years of Minting: 1878–1904; 1921
Obverse
- Design: Lady Liberty
- Designer: George T. Morgan
- Design Date: 1878
Reverse
- Design: Eagle holding arrows and olive branch
- Designer: George T. Morgan
- Design Date: 1878
[edit] History
The Comstock Lode, the greatest silver strike in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. The greatest silver strike in history was followed by the greatest coinage boondoggle in history. In 1878, to protect the interest of the western states, Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars. The mintage was far more than was needed in circulation. These excess silver dollars quickly began piling up. Some original mint bags of Morgan dollars remained in treasury vaults until the 1960s. This strange past has led to one of the greatest collectible series in American coins providing collectors with many dates and mint marks readily obtainable in mint state condition along with challenging rarities.
When the dollar was minted in 1878, it was the first dollar issued for American commercial use since the last Seated Liberty Dollar of 1873. The Trade Dollar was minted during this time period but was for trade in the orient. The dollar was continuously minted until 1904 when the supply of dollars in circulation was high and there was an absence of silver bullion. Then in 1918, the Pittman Act called for over 270 million coins to be melted for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by the Peace Dollar commemorative that would become standard issue. Since 1921, many Morgan Dollars have been melted, mostly when silver prices escalate and they yield silver bullion.
Caches of Morgan Dollars produced at the Carson City Mint were discovered and were sold to coin collectors by the federal government in the early 1970s. These dollars were uncirculated and are called GSAs (named after the General Services Administration) and come in holds that mimic the holds used for proof silver Eisenhower dollars.
[edit] Mints
Mintmarks appear underneath the tail feathers of the bald eagle on the reverse between the letters D and O in Dollar. Mintmarks include:
- Blank (Philadelphia Mint in Philadelphia, Pennsylvania)
- CC (Carson City Mint in Carson City, Nevada)
- D (Denver Mint in Denver, Colorado)
- O (New Orleans Mint in New Orleans, Louisiana)
- S (San Francisco Mint in San Francisco, California)
Of all of these mints, the dollars from Carson City hold more value because of their usually low mintages, as well as a western connection. All proofs for the Morgan series were minted at Philadelphia but proof 1921-S coins are known to exist.
[edit] Deep Mirror Proof Like (DMPL)
DMPL coins are regular Morgan Dollars that were struck for circulation but have unusually frosted legends and devices and very reflective, mirror-like, fields. There are coins that are heavy DMPL, meaning that they are very frosted/mirrored, and coins that are light DMPL, meaning they are not completely frosted/mirrored. These coins occur most frequently during the pre-1883 run of San Francisco dollars. Even with these examples, these coins are worth much more than a regular coin by the same grade.
[edit] Special Varieties/Errors
- 1878-P: 8 Tail Feathers
- 1879-CC: Clear CC
- 1882-O over S
- 1887-O: 7 over 6
- 1888-O: Doubled Obverse ("Hot Lips")
- 1900-O over CC
- 1901-P: Doubled Reverse
[edit] Rarities
As with any coin series, when it comes to Morgans, original mintage does not always determine value. Some coins with a higher mintage have more value due to fewer coins having survived to the present day. Below is a list of rarities:
- Any Carson City Coin
- 1883-S: Uncirculated Grades are Scarce
- 1884-S: Uncirculated Grades are Scarce
- 1892-S: Uncirculated Grades are Scarce
- 1893-S
- 1894-P
- 1895-P
- 1895-O
- 1895-S
- 1896-S
- 1899-P
- 1901-P: Uncirculated Grades are Scarce
- 1903-O
- 1903-S
- 1904-S
[edit] 1899-CC, 1893-S, 1895 Proof
These three dates/mints are the most difficult to find and the most valuable of the entire Morgan series. This is mainly due to their low mintage figures.
- 1889-CC: 350,000
- 1893-S: 100,000
- 1895 Proof: 12,880
Of these, the 1895 Proof is one of the most valuable with a PF-65 coin worth $66,000 according to the 2007 Red Book. If the recognized theory that all circulation strike 1895 Dollars were melted shortly after their minting or never struck, a maximum number of 880 proof coins can be known to exist. The true number is probably lower as some coins for certain have not survived the test of time. This rarity has caused attempts to forge an 1895-P by removing a mintmark from an also rare 1895-O or 1895-S.
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