Lot 736
1855. PCGS graded Proof 64. Lovely even old time toning with purple and light golden colors on both sides. A tiny mark on the obverse, otherwise a gem proof. Only 60 examples minted and from this meager start about 30 to 40 exist today. This is one of the finer pieces as it is both technically sound and quite handsome. Notice the depth of frost on Liberty, for this coin must have been close to earning the Cameo designation as its contrast is more than usually seen on a typical proof. 1855 is both a low mintage date as well as one with a modest number of proofs struck. The reason for this is the original silver dollar weight was left unchanged in 1853 when the silver content was reduced for coins of less than $1 face value. The value of silver had risen in 1853 to be worth approximately $1.07 per dollar in coins due to the fluctuations in the metals market caused by the California Gold Rush, which began in earnest in 1849. While small denomination silver coins flooded back into the channels of commerce to replace the millions apparently metled for the profit, the silver dollars continued in production at the same prior high value. Hence few were struck in order to keep them from being melted in quantity. The few proofs struck for collectors were generally saved for their amazing beauty and surface quality. Here is a particularly nice example with the famous leaning 55 in the date as designed by Engraver Jamed B. Longacre. Pop 9; 8 finer at PCGS, 3 in regular Proof, 5 in Proof Cameo. (PCGS # 6998) Estimated Value $14,000 - 15,000
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