Lot 1460
1879 Liberty Seated Half Dollar. NGC graded MS-67. Gorgeous multi-color iridescent toning on both sides. For the Seated Half this meant an era of limited Philadelphia Mint deliveries with 1879's production of only 4,800 business strikes and 1,100 proofs. Fortunately for today's buyers, many examples were set aside for posterity at the time of issue when a few astute "hoarders" (early day collectors with money in the bank) snapped up the business strikes from the banks. All the same, few have survived with truly pristine, gorgeously toned surfaces like the present Proof 67. The gorgeous iridescent highlights are evident at direct angles, as well as fully brilliant Proof qualities. A razor-sharp Superb Gem for the collector who needs the utmost in quality for his collection. Pop 8; 2 finer; 1 in 67 Star; 1 in 68.
There was an expansion of silver coinage in the beginning in 1873-75. Then, toward the latter part of 1877 vast numbers of previously exported silver coins began returning to the United States from abroad, principally from Central America and Canada. Tens of millions of coins (worth perhaps as much as $30 million in the estimate of Robert W. Julian) returned like a whirlwind from the past. This vast "inpouring" continued well into 1880, much to the amazement of observers.
In response to this inpouring, the Treasury ordered the suspension of minor silver coinage in early 1878 and did not resume it for some years because of the accumulation in the Treasury. It is Julian's contention that contrary to popular belief, the coinage of Morgan dollars had nothing to do with the interdiction of subsidiary silver mintage in the years 1879-90.
Estimated Value $7,000 - 8,000.
|
| |
| Unsold |
