Lot 1850
1883 Hawaiian Half Dollar. PCGS graded MS-63. In a new secure plus holder. Pop 61; 74 finer. Evenly toned on both sides, well struck and lustrous. Although there were 700,000 half dollars minted ($350,000 face amount), many were melted. Records shows that 612,245 were redeemed and so melted. On January 14, 1903 President Theodore Roosevelt approved an act of Congress providing for redemption of the Hawaiian silver coins at par with U.S. coins. The Kalakaua coins were not legal tender after January 1, 1904. It is estimated by Medcalf "that no more than $200,000 remained outstanding from the original mintage of $1,000,000." This high melt rate explains the rarity of the dime, half dollar, and silver dollar in choice Mint condition (PCGS # 10991) .
Estimated Value $1,400 - 1,500.
The Forsythe Collection.
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