Lot 1305
1934-S Peace Dollar. PCGS graded MS-65. Popular key date. A nice frosty white coin. Both sides put on view the distinctive "look" for this scarce S-mint delivery: smoothly frosted surfaces, rolling cartwheel effects, and boldly original devices. There is nothing timid about this Gem! Among the rest of the characteristics, the coin displays clear-cut devices including full hair waves and rays from the crown, all of which ascribe to it having been giving a full strike by the dies.
In 1934, the year of this silver dollar, the U.S. government began an inflationary program of money creation in the hopes this would lift the economy out of the doldrums. If one checks the mintage figures for all denominations from 1934-on the jump in production is apparent at once. $5 and $10 silver certificates were also produced bearing the 1934 Series date as well (followed by 1935 Series $1 bills) -- their backing being these silver dollars which, for the most part, remained with the Treasury as security for the paper notes. Many silver dollars were later melted. Of all of the 1934-35 strikes of Peace dollars, 1934-S is the most famous. It's fame rests squarely on the shoulders of its low mintage: 1,011,000. Pop 174; 23 finer in 66. (PCGS # 7377) .
Estimated Value $6,000 - 6,500.
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