Lot 1470
1853. Arrows and Rays. PCGS graded MS-64 PQ. CAC. Mostly untoned and frosty. A lovely type coin that displays classic satiny-gold and gray toning on both sides over lustrous surfaces. As the Gold Rush unfolded in California in 1849-53, the price of silver rose due to the abundance of gold coming to market. The situation became so dire that silver coins were being gathererd up and melted for a profit. Congress finally acted in early 1853, reducing the silver content in the coins from the half dime to half dollar (the dollar standard left alone for traditions sake). As most silver coins had disappeared from circulation, the need for lighter weight coins was tremendous. The Arrows coinage of 1853 was struck in great numbers, but few were saved in high grades like the present offering. Most were spent and entered circulation and stayed for many years. Thus finding a near gem like this is a real pleasure! Pop 213; 35 finer at PCGS. (PCGS # 6275) Estimate Value $4,500 - 5,000
|
| |
| Realized $8,400 |
