Lot 1496
1883 Hawaiian Eighth Dollar Silver. NGC graded Proof 62. Mostly untoned with some light golden tone. Only 20 pieces struck. Identifiable by a faint lint mark behind the king's head; also a series of faint parallel lines in the lower right obverse field. As before, the coin features a bare head right of Hawaii's last King, Kalakaua, a design in Proof that matches that appearing on the circulation strike 1883 silver coins. The reverse bears the Hawaiian denomination HAPAWALU in laurel wreath, the English equal below, EIGHTH DOL. with royal motto as legend, The Life of the Country is Perpetuated [or Preserved] in Righteousness. Splendid deeply gleaming silver contrasts with fascinating deeper border toning for outstanding visual impact.
Scarcer than the other denominations in Proof, this is one of only 20 Proof Hapawalus struck from a single pair of dies and included in Proof sets made for presentation to Hawaiian notables. It was only much later that these reached the numismatic community, after many had been inadvertently mishandled by their first owners. This seemingly off-beat denomination was first specified because it was equal to the old Spanish Real valued at 12½ cents that had long circulated in the islands and, until 1857, in the mainland U.S.A. When regular coinage began, the dime was substituted, since the San Francisco Mint already had dime planchets on hand whose use would speed the flow of the coinage. The 10-cent denomination was also a part of the American decimal system of dime, quarter, half dollar and dollar.
No Hapawalu pieces were made for circulation. This served to intensify collector pressure on the few Proofs once they learned the fact. Hapawalus have been eagerly sought by collectors for over a century now. This Proof denomination is very seldom encountered at auction. As indicated by the NGC census, this is of a mere handful certified by NGC, while the other leading grading service, PCGS, has certified two examples as Proof-66, none higher. The unparalleled auction appearance of so many rarities provides an historic pricing reference for collectors of the rare Hawaiian Proof and Mint State issues, and a chance that may not occur again in for many years. Pop 1; 3 in 61; 1 in 66.
Estimated Value $25,000 - 35,000.
From the 9/09 Hawaii Collection.
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| Realized $28,750 |
