Lot 1290
1854-O. Arrows. PCGS graded MS-66. Lovely toning and boldly struck. While these are desirable features they fail to capture the essence of this condition rarity. While the New Orleans Mint stuggled to keep up with the demand for half dollars that year, most of those produced entered circulation and stayed there. Here is one that did not, but was set aside and carefully preserved. Notice the fields, the devices, even the rims, all are in nearly perfect order with no distracting nicks or cuts. The Arrows signify a reduction in the silver content of the planchets, done in order to bring the half dollar coins back below their melt bullion value, a by product of the Gold Rush in California which caused the value of silver to rise while the abundant gold price comparatively dropped. Old tenor coinage of early 1853 (without arrows) had generally been melted for the profit to be gained, and businesses struggled to find coins to make proper change. Pop 11; 3 finer, 1 in 66+, 2 in 67. (PCGS # 6280) .
Estimated Value $13,000 - 14,000.
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| Realized $18,213 |
