Heritage's Signature Rare Coin Auction in Houston last week proved to be as spectacular as ever, but during the sale on December 2-3 one particular coin garnered the most attention, and it's easy to see why.
The star item of the sale was an incredibly rare 1895 Morgan Dollar, rated PR68 Ultra Cameo and one of the most sought-after coins of its type on the market.
After some fierce bidding the coin eventually sold for $121,643, beating its pre-sale estimate of $90,000.
The coin's rarity was due to both its near perfect condition, with deeply reflective mirrors and thickly frosted devices, and the fact that only proofs have been verified for the 1895 issue.
 This 1895 Morgan Silver Dollar is one of the finest examples in existence, and sold for an incredible $121,643 |
Out of 880 proofs struck, just a half-dozen coins were ever graded PR68 or finer with the Ultra Cameo or Deep Cameo contrast modifier.
Rumours abound of possible circulation-strike survivors but none have materialised, meaning there are only 880 chances for collectors to complete their date set. And with the coin being one of the six finest examples in existence, the competition from collectors across the world was intense.
This sale was another example of how the competition for the rarest and best quality collectibles has intensified over recent years, with many collectors now seeing such items as high-end alternative investments.
As we move into 2011, the expansion of developing economies means this competition is certain to intensify as millions of new collectors worldwide look for the very best items. Which can only be good news for the collectibles market.
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