Lot 1838
1878. PCGS graded MS-63. CAC Approved. Well struck. Following the Resumption Act of 1875, which the government established to return paper money to par against gold coins, swift progress was made in stabilizing the money markets. By late 1878, smaller denomination gold coin production had increased dramatically. January 1, 1879, and bank payout in gold at 100 cents on the dollar against paper money came back into play after 14 years of often-times chaotic money markets. This attractive, frosty 1878 Half Eagle played its part in returning the country to the gold standard. De facto only, an official gold standard was not put in place until the Gold Standard Act of 1900 was passed by Congress and signed by President Cleveland. Pop 25; 18 finer at PCGS. (PCGS # 8345) .
Estimated Value $1,400 - 1,500.
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| Realized $1,645 |
