Lot 1865
1878 Trade Dollar. NGC graded Proof 65. Magnificently toned. A lustrous, outstanding specimen with a grand display of deep amber reds to golds, lavender, blue, and electric blue iridescence on both sides. Nicely struck, in fact fully so at the stars and two main devices so that its charm is enhanced immeasurably. Pop 74, 55 finer. (PCGS # 7058) .
Read what America's premier coin curmudgeon, Walter Breen, had to say about how Trade Dollars got foisted upon the naive public:
"The issue of this coin was an expensive mistake -- its motivation mere greed, its design a triumph of dullness, its domestic circulation and legal-tender status a disastrous provision of law leading only to ghastly abuses, its repudiation a source of hardship for Pennsylvania coal miners and other laborers held in virtual peonage by company stores, its recall a long overdue but very mixed blessing, and its collection a source of decades of frustration."
Of course, one may argue Breen's point about Trade Dollar design being a triumph of dullness. Compare its so-called dullness to today's lovely Susan B. Anthony and Ike Dollars. Does not such an opening paragraph whet your appetite to learn more about the Trade Dollar's remarkable story? We haven't the space to give more here, but if this has piqued your curiosity, why not pick up a copy of Breen's mammoth Encyclopedia of US and Colonial Coins and read it through. He has much more to say about these splendid coins.
Estimated Value $6,000 - 7,000.
|
| |
| Realized $7,475 |
