Lot 508
1853 Liberty Seated Dime. No arrows. PCGS graded MS-66 Premium Quality. A mind boggling example of this low mintage date (95,000). The luster is mint fresh, and the toning is gorgeous with deep blue surrounding the date, bright at the top of the obverse, and matching on the reverse. Fully struck, and virtually without signs of handling. One of the most magnificent coins in the Benson collection, and worthy of a very strong price. PCGS has graded 6 this high, with 5 graded higher (best MS-68).
The discovery of gold in California in 1848 changed America's coinage. By 1853 Congress had to reduce the silver content in order to keep coins in circulation as the price of silver was now much higher than the price of gold (dropping because of the golden flood arriving from the California gold mines). Hence silver coins were worth more than face value, and few entered circulation. In order to get coins back in circulation, the amount of silver in each denomination had to be reduced. This was done in March of 1853, and the slightly smaller, but worth less than face value, coinage was denoted with "arrows" at the date on all except the silver dollar, whose silver content remained unchanged, perhaps due to tradition.
Estimated Value $3,000 - 4,000.
From the Benson collection and purchased from James G. Macallister on February 20, 1945 for $7.50.
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| Realized $8,338 |
