Lot 926
1903-O. NGC graded MS-62. Light even toning. Popular O-mint date and well struck. Often in those days, New Orleans complained of getting bad dies. Complaints had been repeated for several years. In 1900, the Mint director sent an engineer from Philadelphia to New Orleans to investigate. In his findings, he determined that the dies, press set up and other operations were fine. He traced the trouble to an annealing furnace that could not handle the quantity of planchets the mint was attempting to process through it. When the flow-rate was reduced, the problem vanished, the dies worked fine.
After the engineer left, the director's office insisted New Orleans go back to striking 1 million dollars per month or more. The problem reappeared and generally continued through 1904 (PCGS # 7286) Estimated Value $300 - 325
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| Realized $334 |
