Goldberg Coins and Collectibles

Sale 75

September Pre Long Beach

Seated Liberty Quarter Dollars
Lot Photo Description Realized
Lot 1430
1878. NGC graded MS-65. A dazzling gem. Well struck and frosty throughout. Natural russet and electric blue toning surrounds the borders. Pop 8; 4 finer in 66. Estimated Value $2,000 - 2,400
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Lot 1431
1887. NGC graded MS-66. CAC Approved. A blast white frosty mint gem. Much scarcer than a Proof. Only 10,000 struck. Pop 13; 11 finer, 10 in 67, 1 in 68.
Why such a low mintage of small denomination silver coins in 1879 to 1889? According to Neil Carrothers in "Fractional Money", "In the winter of 1877 there suddenly reappeared in circulation literally hundreds of millions of the silver 3 cent pieces, 5 cent pieces, dimes, quarters, and half-dollars that had as suddenly departed in 1862. They streamed in from Canada, from Central America, from South America, and from the West Indies. A small quantity, probably, was brought out from domestic hoards. With the value of silver going down and the value of greenbacks rising toward parity with gold a point had been reached where these long absent coins were worth more at home than they were in foreign countries. The most interesting feature of this unexpected home-coming was the information it afforded as to the fate of the coins in 1862. It showed that they had not been melted or exported to Europe as bullion, although there was a definite profit in melting the coins at that time. They had gone to Latin-America, served as local currency for fifteen years, and then returned. Sherman in 1880 estimated the value of the coins returned in the preceding two years at $22,000,000, and a large amount came back after that time.

"The immediate effect of this development was to stop the sale of new coins. [Treasury Secretary] Sherman suspended subsidiary coinage in the last month of 1877. A later result was the gradual accumulation in the Treasury of an embarrassing volume of excess coins. More than $10,000,000 was stored in the vaults by 1880. The coins came in through small tax payments, postal operations, and various change transactions at Treasury offices. Eventually they became a Treasury problem." Estimated Value $3,000 - 3,200
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Lot 1432
1888-S. PCGS graded MS-62. A brilliant frosty white example. Pop 12; 54 finer. (PCGS # 5521) Estimated Value $700 - 750
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Lot 1433
1891. NGC graded Proof 67 Cameo. Only 600 minted. A dazzling brilliant white cameo gem specimen. Moon-glow bright silver-white frosted luster radiates on both main devices of this exquisite example. With tops of stars, date and legends also cameo frosted against the smooth, rolling mirrors. Additionally, this date is easier said than done to find fully struck. The centers pack full detail into the design from a decidedly precision strike. Pop 9; 4 finer, 2 in 67 Star, 1 in 67+Star, 1 in 68. Estimated Value $4,000 - 4,500
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