Lot 1379
1859-S. PCGS graded MS-62. Mostly untoned. Only 20,000 struck. Trade between the United States and Asia increased to a large extent by the late 1850s. The federal government found it was forced to use the San Francisco Mint for Silver Dollar production. It may be surprising that this event did not occur sooner, what with San Francisco's proximity to Asian markets with the attendant ease and security of overseas shipments from that facility. Regardless, the 1859-S has the distinction of being the first S-mint Silver Dollar in the history of the United States Mint. It is also a scarce-to-rare coin with just 20,000 pieces produced, many of which were melted or otherwise lost overseas. To date, PCGS has seen just six coins in this grade (see below).
Pleasingly sharp in striking detail on the obverse and reverse (with none of the usual weak reverse definition seen on other specimens over the eagle's neck feathers). This striking excellence, along with the select Mint State grade are quite desirable. The silver color show few swirls of slightly deeper frost scattered about mainly within the legends on the reverse, and we are unable to find any abrasions that are worthy of undue concern, though there is one small mark on the reverse rim at N of UNITED. The '59-S is one of the most challenging Seated Dollars to obtain in higher grades, and it is an issue the presence of which is always the sign of an important collection. Pop 6; 7 finer in 63 (PCGS # 6948) .
Estimated Value $12,000 - 13,000.
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