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Lot 2990
1921. Zerbe. NGC graded Proof 67. Full white gem. Pop 1; none finer at NGC. The Finest graded. The origin of the Zerbe Proof Morgan Dollars can be found in the Mint's failure to place the new Peace Dollar into circulation before the end of calendar-year 1921. The American Numismatic Association, and its influential booster Farran Zerbe, was a proponent of the new Peace Dollar. Despite Zerbe's urging, however, he was unable to expedite production and release of the first examples of the new design. To appease Zerbe, the Mint made a limited number of special-purpose "Proof" 1921 Morgan Dollars at the Philadelphia and San Francisco Mints for Zerbe. Bowers (1993) seems to suggest that the 24 Zerbe Proofs struck at the San Francisco Mint preceded those of the Philadelphia Mint, the exact mintage from the latter facility being unknown. In fact, Wayne Miller, in the book The Morgan and Peace Dollar Textbook, actually provides the rather wide range estimate of 20-200 pieces for the mintage of 1921-P Zerbe Proof. What numismatists do agree upon is that the Zerbe Proofs are almost always--and we stress the word "almost"--of lesser quality to Proof Morgan Dollars struck from 1878 through 1904. Then there's the coin in this lot.
Far and away the most impressive 1921 Zerbe Proof Morgan Dollar that this cataloger has ever seen, this coin is unquestionably bright in terms of mirrored reflectivity in the fields. The scattered die polish lines (as made) that are always evident on this issue are visible under magnification (but they are by no means distracting), while the diagnostic die scratch (also as produced) from the second U in UNUM to the denticles is discernible too. A razor-sharp strike provides perhaps the fullest definition that one is likely to encounter on a Proof 67 1921-dated Morgan. The fields are the most vibrant we can remember, with the normal die polishing lines visible, and surfaces are brilliant the whole time, showing lightly frosted devices. The bold strike is like that of a Proof of 1878-1904. Contrasting most Zerbe Proofs, there are no obvious marks, but we note the diagnostic light die scratch is also faintly visible above the second U in UNUM. Irrefutably one of the most extraordinary survivors of this mysterious presentation issue, this 1921 Zerbe Proof would serve as a pride and joy in even the most specialized collection of Morgan Dollars (PCGS # 7341) .
Estimated Value $50,000 - 55,000.
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| Realized $52,900 |
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