Market Analysis: Two beautifully toned Proof Morgan dollars

Market Analysis: Two beautifully toned Proof Morgan dollars

By Steve Roach , Coin World, Published: Apr 5, 2023, 9 AM

The James Allaire Millholland Collection, offered at auction by Stack’s Bowers Galleries March 21, will likely be best-remembered for its exceptional Proof coins with beautiful toning, the result of long-term holding in wooden cabinets, “being tucked away rather than constantly handled.” One third of the 540 coins in the collection were 19th century Proof strikes.

Among the most beautiful was an 1882 Morgan dollar graded Proof 67+ by Professional Coin Grading Service that realized $24,000.

The cataloger wrote, “Mottled olive-russet, bronze, steel-blue and sandy-gray are seen both sides. As the surfaces dip into a light, however, one is treated to a veritable explosion of underlying colors that are particularly vivid and varied on the obverse.”

A lovely Proof 67 1891 Morgan dollar brought $22,800, with a razor-sharp strike and intense mirrors. Here the cataloger noted, “vivid reddish-apricot iridescence adorns the obverse while steel-blue, deep rose and pinkish-gold undertones light up the reverse.”