Lot 1319
1893-S. PCGS graded MS-62. A desirable and frosty S-mint Eagle. Pop 158; 57 finer at PCGS. (PCGS # 8728) .
Historic Association: 1893 was a year of Panic in the US, Britain and Europe. On the 30th of June, President Grover Cleveland called an extra session of Congress for the 7th of August "to the end that the people may be relieved through legislation from present and impending danger and distress." In recent years, the fact has come to light that his health was at that time in a condition so precarious that it would have caused wild excitement had the truth been known, for only his life stood in the way of a free silver President, William Jennings Bryan. On the same day on which he issued his call for the extra session, President Cleveland left for New York ostensibly for a yachting trip, but while the yacht was steaming slowly up the East River, he was in the hands of surgeons who removed his entire left upper jaw to remove a cancerous lesion. On the 5th of July they performed another operation in the same region for the removal of any tissues which might possibly have been infected. These operations were so completely successful that the President was fitted with an artificial jaw of vulcanized rubber which enabled him to speak without any impairment of the strength and clearness of his voice. Immediately after this severe trial, which he bore with calm fortitude, Cleveland had to battle with the raging silver faction, strong in its legislative position through its control of the Senate.
When Congress met, the only legislation which the President had to propose was the repeal of the Silver Purchase Act of 1890, the so-called Sherman Silver Purchase Act that had caused the economy untold grief and brought the Treasury department to the brink of ruin. The law Congress repealed had provided for the purchase of 4,500,000 ounces of silver a month, "or, so much thereof as may be offered at the market price" with most of this being coined into silver dollars as backing for silver certificates and Treasury notes.
Estimated Value $700 - 750.
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| Realized $940 |
