Lot 1037
1849 $1 Gold Liberty. Open wreath. PCGS graded MS-64. Delightful, golden-yellow surfaces, bright with luster and fully consistent with the assigned grade. Small Head, with Longacre's initial "L" on truncation (albeit weak), clear doubling of the 1 of the date. First year of the new, gold dollar denomination, prompted in part because of the California Gold Rush.
Once a scarce commodity, gold became quite "common" in 1848, after huge quantities were discovered in California. The country needed coins, and something had to be done with all that gold, so why not try out two new denominations: the gold dollar the Mint had experimented with a few times and the $20 double eagle -- the lowest and the highest denominations of circulating U.S. gold coins (PCGS # 7502) .
Estimated Value $1,900 - 2,200.
|
| |
| Realized $2,185 |
