Lot 1118
1859-S. PCGS graded MS-62. Fully white with semi reflective fields on both sides. San Francisco and the production of Silver dollars got off to a rough start in 1859. Although there seems have have been an ample supply of silver in that wild Gold Rush city, none had been coined locally into silver dollars. Limited production of dimes, quarters and half dollars had been undertaken in the late 1850s, but no silver dollars. The San Francisco Mint Superintendent Hempstead wrote to Mint Director James Ross Snowden in November if 1858 and requested dies and permission to coin silver dollars. Snowden agreed, and 10 pairs of dies were sent west. These initial San Franscico silver dollars mostly went overseas to China, where they were accepted in trade but most were melted, as the Chinese preferred the Mexican silver coins. None of these 1859-S silver dollars were hoarded and saved when they were released, hence survival is random. Mint State coins are the hardest to find, as most known examples show considerable wear from years of service in commerce. Here is one of the few that did survive with all its mint frost and luster intact. A delight for the date specialist! Only 20,000 struck. Pop 9; 9 finer, 7 in 63, 1 in 63+, 1 in 64+. (PCGS # 6948) Estimate Value $9,000 - 10,000
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| Realized $11,400 |
