Lot 1582
1878. 7 tail feathers, reverse of 1878. PCGS graded MS-65. Housed in an Old Green Holder. A frosty white coin. Pop 469; 21 finer, 2 in 65+, 19 in 66 (PCGS # 7074) .
Historic note: The Comstock Lode, one of the greatest silver strikes in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide by the 1870s. In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars. When the dollar was minted in 1878, it was the first dollar issued for American commercial use since the last Seated Liberty Dollar of 1873.
Estimated Value $650 - 700.
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| Realized $834 |
