Lot 2192
1883 Liberty Seated Half Dollar. NGC graded MS-65 Prooflike. A nice white coin. Fully prooflike. Low mintage business strike issue with only 8,000 struck. Pop 1; none finer at NGC. Only 2 Prooflike examples graded at NGC (PCGS # 6365) .
There was an expansion of silver coinage in the mid-1870s. Then, toward the latter quarter 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 $5,000 - 6,000.
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