Lot 1094
1853. Arrows and rays. PCGS graded AU-58. PQ. Light golden toning. Much luster retained in the fields. This is a desirable one-year Type. The long 100+ year slide toward silverless coins began with the "subsidiary" issues of 1853 -- half dimes, dimes, quarter dollars, and half dollars. Because the Silver Dollar's weight was set by law as the standard for the monetary UNIT or DOLLAR, it remained at the statuary weight. This created an anomoly that lasted down to the present. Four quarter dollars, such as this 1853 Arrows and Rays, have slightly less silver content than one Silver Dollar. But the Coinage Act of 1853, which authorized this, did ease the silver coin shortage. Thereafter, small change was abundant until the outbreak of the Civil War in 1861 (PCGS # 5426) .
Estimated Value $650 - 700.
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| Realized $764 |
