Lot 1623
1852 Pattern Gold Dollar. Brass, Plain Edge. Judd-148b Rarity 8. PCGS graded Proof 63 PQ. CAC Approved. Tied for the finest at PCGS. A rare Pattern annular Dollar struck from cracked dies in brass. During this period the silver coins were disappearing from circulation due to the fact that they contained more bullion than their face value. Hence there was a demand for gold coins of the dollar and half-dollar denomination. Walter Breen found in the Archives a letter from the Director of the Mint, George N. Eckert, to Senator R. M. T. Hunter dated January 27, 1852, which shows that the half-dollar and larger ring-gold dollar were the first pieces made.
Fortunately the stopgap Act of 1853 reduced the silver content of the coins, making them worth less than face as bullion. This increased the circulation of silver coins and relieved the need for the small gold pieces. Although the Act improved things, it caused greater problems down the line. Pop 2; none finer at PCGS (PCGS # 11618) .
Estimated Value $15,000 - 16,000.
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| Realized $17,038 |
