1921 $1 Morgan Silver Dollar Zerbe Proof NGC PR64

There comes a time in the life of every numismatist when he or she is presented with the opportunity to purchase a special coin--an exceptional rarity--that truly captures the imagination. If that were not the case, you would not be reading about a coin such as this one right now. Well, that opportunity is here--and now. Yes, Morgan dollars are a very popular series, one that many collectors enjoy. And yes, among them are rarities--truly classic coins that give you pride in ownership. At this time, however, you have the chance to own a quite unique piece of numismatic history: a 1921 Morgan Dollar Zerbe Proof.

Classic coins always have a great story to go along with them--and the story behind the Zerbe proof does not disappoint. Farran Zerbe was president of the American Numismatic Association (ANA) from 1908 to 1910. The ANA's most prestigious service award, the "Farran Zerbe Memorial Award," is named after him. When serving as ANA president, he bought the ANA's magazine, The Numismatist, from the heirs of Dr. George F. Heath after his passing in 1908. He sold it to the ANA in 1911. Zerbe was active in promoting and selling commemorative coins from the 1893 "Columbian Exposition" and the 1904 "Louisiana Purchase Exposition." It was after World War I that Zerbe proposed a general circulation commemorative coin that honored America's role in the postwar peace process. That coin became the famed "Peace" dollar.

We are told that Zerbe traveled to the San Francisco mint during 1921 to witness the striking of the very first Peace dollars from dies that had been shipped from the mint in Philadelphia. To his chagrin, the dies that arrived were the newly crafted design for the 1921 Morgan dollar. In order to mollify the renowned coin promoter and dealer, mint officials struck a number of 1921 "S" Morgan dollars for him as presentation strikes--which were referred to as proofs. Zerbe gave many away to friends and about five are thought to still exist; however, they rarely surface.

There are numismatists who have claimed that Zerbe also purchased as many as 200 proof examples of the 1921 Morgan dollar from the Philadelphia mint. These have been long known as Zerbe proofs, in addition to the S-mint examples discussed above. It is common knowledge that George T. Morgan, who was the chief engraver in Philadelphia at the time, worked a side business striking "special orders" for collectors. Numismatic scholar Walter Breen, in his book, Walter Breen's Encyclopedia of United States and Colonial Proof Coins, 1722-1977, discusses the 1921 Zerbe proofs. He presents the diagnostics of these rare coins, and then discusses 13 different pieces. They include 1921 Zerbe proofs housed at the Smithsonian and the ANS (American Numismatic Society). Breen writes, "One I authenticated for Stephen Ruddel....I have since seen and authenticated six others, impaired to varying degrees by cleaning and scrubbing." Breen discusses controversies surrounding the 1921 Zerbe proofs: "This coin occasioned several slanderous attacks by persons convinced that no genuine 1921 Morgan proofs were made. The coins in the Smithsonian and the ANS should be sufficient evidence to the contrary..."