I read the article Rewriting the 1921 Proof Story (Jack Lee - National Silver Round Table). It's a fascinating story which has raised some questions I haven't been able to find clears answers. An article on PCGS states, "In 1921, Henry Chapman went to the Mint and had some mirror-surface Proofs struck to his order. This was done clandestinely by or for George T. Morgan, chief engraver, who had a little 'rare coin business' going on the side." (http://www.pcgs.com/books/silver-dollars/Chapter15Listings-232.aspx) In another article (which I can't find atm despite trying) it was conjectured that Chapman had seen advertisements in a newspaper for George Morgan's proof 1921 silver dollars and decided he wanted his own. I guess the events leading up to these events are mostly conjecture, but I would think this is verifiable since newspapers are preserved. Has anyone tracked down the original advertisements for Zerbe and Chapman Proof 1921 Morgans? Could mint employees legally sell themselves and others coins hot off the press? I'm just having a hard time grasping the logistics. Were these coins sold in auctions or those old mail-order circulars? 1921 Chapman NGC MS65 - HA $61,687.00 4/28/2013 1921 Zerbe PCGS MS66 $27,600.00 8/14/2011 1921-S Zerbe PCGS SP65 - HA $117,500.00 8/10/2013
Very interesting. I have never done much research on these, typically dont on what I cant afford, but very interesting. I think I would like to track down a coin once owned by and then sold by George T Morgan. That would be a heck of a pedigree.
How did this one get a 66 grade with those two HUGE bagmarks on the cheek? https://coins.ha.com/itm/proof-morg...8-7380.s?type=surl-1158--7380&short=1158*7380
From what I've read, the 1921 Morgan was so undesirable at the time the proofs held relatively low premium. Chapman reportedly purchased one of his own coins for ~$5 in a 1922 auction for the person to whom he had sold the coin to originally. At the time, that was an unheard of amount and it was speculated he was trying to raise the value of the coin to increase his own coins' worth. If I understand correctly, the Zerbe Proof sales were similar to a modern day television coin show product. So, it was well within the reach of an average collector at the time. wow factor? The San Fransisco 1921 morgans were notoriously poorly minted. So, ... maybe it was graded on a sliding scale?
What I'd like to know is how it got the bagmarks at_all if it were caught in cloth, as Jack mentioned in the article.
