Lot 1965
1873. Closed 3. PCGS graded EF-45. Housed in an Old Green Holder. Lovely golden toning. The Closed 3 date style is used on the early dies made prior to Chief Coiner A.L. Snowden's complaint on January 18th regarding the similarities of the look of the date to 1878.
The Coinage Act of 1873 changed the United States policy with respect to silver. Before the Act, the United States had backed its currency with both gold and silver, and it minted both types of coins. The Act moved the United States to the gold standard, which meant it would no longer buy silver or mint silver coins from the public on demand, but instead only from approved (that is, politically connected) Western mine owners. No modifications were made to the gold coins, however (PCGS # 8966) .
Estimated Value $1,800 - 1,900.
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| Realized $2,056 |
