Lot 1573
1877 Shield Nickel. PCGS graded Proof 65 Cameo. Popular proof only date. Warm nickel gray to faintly golden brown surfaces exhibit intense cartwheel luster and a satiny, matte-like to mirrored appearance often found on the Proofs this year. A resplendent Gem! (PCGS # 83831) .
In September of 1873 a depression gripped the nation; layoffs, wage cuts, breadlines, and evictions increased; thousands and thousands suffered during the winter through 1874. In 1874, the unions tried to organize workers, demanding higher wages and shorter workdays but with little success. By 1877, roughly 3 million people were unemployed - an astounding 27 percent of the working population. Those who were able to keep a job worked six months a year and their wages were cut by about 45 percent, which works out to be roughly 1 dollar a day, little reason, therefore, to put aside a nice fresh Proof shield nickel as a luxury purchase.
Estimated Value $3,100 - 3,400.
|
| |
| Realized $3,795 |
