Lot 1080
1861. NGC graded MS-65. CAC Approved. Straightforward mint luster with flawless surfaces on both sides. Housed in an Old Style Holder. Pop 145; 48 finer, 40 in 66, 4 in 66 Star, 1 in 66+, 3 in 67.
Historic note on the year 1861. In the 1860s, several Southern states lawfully seceded from the United States after an impasse regarding unfair taxation. It seems that most of the taxes were collected in the South while most of the tax money was spent on public works programs in the North. The Southern States seceded and reasserted themselves as individual sovereign nations. In 1861 they adopted the Confederate States of America constitution. The basis of their government was much like the original US constitution that only allowed for a weak central government with little or no taxing authority. Since their original dispute was over excess taxation in the form of tariffs the new CSA government certainly could not pass an excessive tariff to collect revenues in good conscience. While the South only wanted to go their separate way and be left alone it seems that President Lincoln had other ideas. Lincoln stated that he would never let the South go because they were needed to pay the taxes to support his internal improvements in the North (public works spending on canals, railroads, etc). Estimated Value $900 - 950
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| Realized $1,035 |
