Lot 797
1878. NGC graded Proof 65 Cameo. Fully white Gem Proof. Only 600 struck. Although the Western silver producers were selling large amounts of silver to the mints at a decent price in the early 1870s, due to the acquiescence of the Mint Director, Linderman, it never seemed quite enough. Nevada Senator Jones attempted to improve the situation by introducing legislation for a twenty-cent piece, producing the absurd claim that storekeepers in the West were shortchanging customers on the grounds that no five-cent pieces were on hand. There were plenty of half dimes yet in circulation in that area, but no one bothered to mention that fact.
At any rate, Congress did authorize the new coins, but they were the "original" Susan B. Anthony dollars and about as popular as the later model. Authority to coin them was revoked in 1878 and they were quickly forgotten, except by shrewd numismatists.
Stunning original brilliance and mirror "depth" on this one, with simply outstanding surfaces. Even the strike is 100% complete, while we find no distracting handling marks. If you have been searching diligently for a top end Gem of this important Proof-only issue, then here is a high-end example for the brilliant-coin lover. Philadelphia coined Proofs only in 1878; the denomination was put out to pasture, as it were, after 4 short years of very limited production. Worth a premium for the majestic beauty and cameo effect, and certain to please the advanced collector. Pop 16; 7 finer, 5 in 66, 2 in 67.
Estimated Value $8,000 - 8,500.
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