Lot 331
1853. NGC graded MS-64. Fully white and boldly struck for this key date issue. The eye appeal is extraordinary with satiny luster through the fields and frosted devices. This is a low mintage date too, with precious few that have survived on the cusp of the gem grade. It would be expected that a considerable number of those minted ended up being melted, as these actually contained more silver value than their face value of $1. In fact, if a bank wanted to buy "silver dollars" of 1853 and later, they had to pay $1.08 for each one from the Mint. Recall that silver coinage was being melted for the bullion up until 1853 when Congress reduced the silver weight required in coins from the half dime through the half dollar, the silver dollar was left at the old weight standard out of traditions sake. Hence most of the silver dollars struck in the later 1850s went overseas some being melted or traded for goods at a price of slightly over $1 reflecting their true bullion value. Thankfully for collectors today, some of these did survive these tumultuous times. The surfaces are semi reflective on this splendid coin, and it is as elegant as it is historic. Only 46,110 struck. Pop 33; 2 finer, 1 in 65, 1 in 66. Estimated Value $7,000 - 7,500
|
| |
| Realized $8,700 |
