Lot 2947
1874 Liberty Seated Half Dollar. Arrows. PCGS graded Proof 65 Cameo. Lovely multicolor toning on both sides. Only 700 proofs minted. Gorgeous surfaces that show absolutely no signs of handling or any similar problem. Wonderfully toned with blues and dark crimson to gold, and we note some lighter rose hues within the amalgam of color. A rare Proof two-year type coin, and certainly one of the most impressive Proof 65s known; in fact, the PCGS Population Report shows this is tied with only two others in the grade, a remarkable achievement. A coin for the finest Proof type set in the land. The arrows variety with motto were made for just 1873 and 1874, and in very limited quantities. To locate a high end gem is almost a Sisyphean task, so don't pass this one by. Pop 3; None finer at PCGS. (PCGS # 86435) .
Despite all of the later rhetoric by backers of free silver coinage (primarily in 1876-1877), the 1873 Coinage Act actually favored silver coinage. It did abolish the silver dollar (which had not circulated anyway), the three-cent silver, and the half dime, but the latter were of little use considering the new five-cent shield nickels. The two cent piece also was abolished under this act. In line with the metric five-cent piece of 1866 (copper-nickel), the legislators made the minor silver coins into even metric weights by adding a tiny amount of silver less than one-half of one percent. The change was marked in 1873 and 1874 by the addition of arrows at the date.
The major point of the legislation of 1873 was the Trade dollar. Although the Treasury was empowered to set a slight fee for costs of coining, the bullion depositor was able to bring his bullion to the mints for conversion into Trade dollars.
Estimated Value $10,000 - 14,000.
|
| |
| Realized $14,375 |
