1892 $1 PR50 OGH PCGS CAC

This 1892 Morgan Dollar, certified PR50 by PCGS and housed in an early-generation Old Green Holder, is a scarce circulated proof example. Struck in Philadelphia as part of a limited mintage of just 1,245 coins, this issue was produced at a time of increased numismatic interest surrounding the debut of the Barber coinage. As noted by Q. David Bowers, many unsold 1892 proof dollars were eventually released into circulation at face value, making lightly circulated examples such as this one the direct beneficiaries of that historic dispersal. Despite the modest PR50 designation, the present coin retains unmistakable proof characteristics: squared rims, sharply defined devices, and reflective depth in the protected areas of the fields. The muted reflectivity still present in protected areas adds an understated elegance consistent with lightly circulated proofs. This coin is one of just three examples graded PR50 by PCGS, and it is the only piece in this grade to carry a CAC endorsement. With a CAC Price Guide value of $1,500 but no relevant comps except for a similar but different year 1896 $1 PR50 OGH PCGS CAC for $1,680 03/23 ST, this piece offers compelling value within the segment of circulated 19th-century proofs. Proof Morgans in circulated grades remain a challenging niche for collectors, and the 1892—though relatively available in higher proof grades—becomes notably elusive in CAC-approved circulated condition oddly enough. Finding a CAC Proof Morgan Dollar under $2,000 represents excellent value in todays market.

PCGS Cert Verification #4474589

• PCGS POP - 3/389
• CAC Price Guide - $1,500
• CAC POP - 1/37
• PCGS Coin# 7327