1921-S ZERBE PROOF MORGAN DOLLAR

100 years ago, the 1921-S Zerbe proof Morgan Dollars were struck at the request of prominent numismatist Farran Zerbe. The coins are great rarities in the Morgan dollar series, much more elusive than their Philadelphia counterparts. The official mintage total is unknown, but the most-often quoted figure is just 24 pieces struck. At least five examples of these mysterious coins survive today. PCGS has graded a total of five coins, possibly including some resubmissions, while NGC has not certified any examples of this issue.

Stuart Mosher told the story of the origin of these coins in an article in the July 1955 issue of The Numismatist:

"About 10 years ago, Farran Zerbe, father of the Peace dollar and our first American numismatic missionary, told me an intriguing story regarding a branch mint Morgan dollar issued in proof.

"In 1921 he was in California awaiting the arrival of the dies that were to be used to strike the first Peace dollars at the San Francisco Mint. The Mint phoned him that the dies had arrived and he hastened there to see them put into operation. The new 1921 dies had arrived all right but they turned out to be dies for the old Morgan design which had not been coined since 1904, and not the dies for the Peace dollar which he had worked so hard and long to promote.

"Mr. Zerbe told me that he suggested to the chagrined Mint officials that they could assuage his disappointment somewhat if they would strike off a few Morgan dollars from the new 1921 dies in proof condition. They were happy to oblige and manufactured about two dozen which he bought and later handed out to his various coin collecting friends throughout the country. While I have never seen one of these proofs it is logical to suppose some of them are extant."

Heritage will be offering one of the 5 known examples in April. With 2021 being the 100-year anniversary of these intriguing coins and with the new celebration of the Morgan and Peace Dollar being struck by the US Mint in 2021, the timing seems ideal for this rarity. The example up for bid is graded Specimen 64 by PCGS and verified by CAC.