|
Sale 13
|
|
press UP arrow key to increase the zoom ratio.
press DOWN arrow key to decrease the zoom ratio.
press RIGHT arrow key to increase the zoom window size.
press LEFT arrow key to decrease the zoom window size.
|
|
Lot 1002
1853 Liberty Seated Half Dollar. Arrows and rays. NGC graded Proof 65. Here is a spectacular specimen of this extremely rare and desirable one year type coin. It is instantly recognizable by a small planchet streak in the right wing of the eagle as the Eliasberg coin, plus this fact is announced on the NGC insert. Toned with champagne and light gold colors throughout over the deeply mirrored fields. Perhaps 10 were struck, and no doubt just a handful are known today. The current NGC Population Report shows 4 are graded by that service, 1 as PF-63; this coin as PF-65; and 2 as PF-66 and in addition 1 coin is listed as a Mint State Specimen-66 by NGC. PCGS has graded 5 examples as follows: 3 as PR-63, 1 as PR-64 and 1 as PR-65. Therefore, this coin is certainly one of the better ones known, and extremely important as a one year type coin, the only year the both arrows and rays were used to announce to the world that the silver content had been slightly reduced reflecting the wild swings in prices caused by the California Gold Rush and tons of gold coming to market. This caused the price of silver to actually rise relative to the price of gold, as the gold price fell. By 1852 virtually all silver coins had disappeared from circulation, and were in fact worth more than face value. The situation was so bad that silver coins could actually be taken from circulation and melted for a sizable profit. Therefore, very little silver was brought to the mints for coinage, and mintages fell. Congress acted by reducing the required amount of silver for half dimes through half dollars (the silver dollar for some reason left out of this adjustment, as few were coined anyway at that time). To identify these new lighter weight coins, the Mint added arrows at the date and rays around the eagle. These arrows and rays were added so the new coins wouldn't join the older ones in the melting pot, and thus the shortage of small silver coins in circulation could finally be corrected.
Research has shown that no 1853 proof sets were coined (see Bowers Eliasberg sale, lot 1956) and thus mintages of proofs were scattered and depended on orders. Needless to say, this is an extremely rare coin, and the opportunity to purchase one may not occur again for many years.
Extensive die file lines are visible on Liberty, around the eagle, and through the reverse legends, and these are detailed in the Eliasberg description of this same coin. A foremost rarity in any grade, and this stunning gem example will undoubtedly become the centerpiece of a most advanced connoisseurs collection.
Estimated Value $100,000 - 150,000.
From Bowers and Merena's Louis E. Eliasberg, Sr. Collection, Part II, April 1997, Lot 1956, with no prior pedigree listed, although likely from the George H. Clapp collection and purchased from an unknown source by him.
|
| |
| Realized $126,500 |
|
