Proof Like Morgans - The Finest!
What is a "Proof Like" Coin?
The term Proof refers to the method of manufacturer - a coin that is individually struck, usually more than once, with highly polished dies, creating a mirror like image. A "Proof Like" coin is actually a regular business strike, but the coin has the look and feel of a proof. How? When the US Mint puts a coin die into service it is polished just like a proof die, but it strikes thousands of coins before it is taken out of production. The first few coins struck on these polished dies have the look and feel of a "Proof", but because they are not struck twice they can't be termed "Proofs." The term we use in the industry is "Proof Like."
How Do We Know?
When you see the coin you know it is special. But the simple test most of us use to classify a "Proof Like" is putting a finger or an object a few inches away from the coin - if you can see the reflection (like a mirror), you have one of those special first strikes.
Rarity ... No Questions
The US Mint made less than 1000 Proof Morgans each year - rare coins. When you add it up a "Proof Like" is not that different. They are the first few coins off a production run die, then retired and replaced with a new die and a similar cycle. When you look at mintage figures, they are also extremely rare.
Each coin is encapsulated and presented in a display box.
1898 Morgan Silver Dollar - Philadelphia Mint - Proof Like
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