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4317

1903 G$1 Louisiana Purchase/McKinley MS68 NGC....

2011 June Long Beach Signature US Coin Auction #1156

 
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Auction Ended On: Jun 3, 2011
Item Activity: 6 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

1903 Louisiana Purchase/McKinley Gold Dollar
Virtually Perfect MS68 Example
1903 G$1 Louisiana Purchase/McKinley MS68 NGC. Two gold dollars were issued in 1903 to commemorate the Louisiana Purchase, one featuring Thomas Jefferson on the obverse and the other displaying a bust of William McKinley. More than 250,000 coins were minted, but only about 35,000 examples were sold at the asking price of three dollars per coin. The sales were about evenly split between the two varieties. Within a year the price had fallen to less than two dollars per coin, leaving a sour taste in the mouths of collectors and having a deleterious effect on the sales of Lewis and Clark gold dollars issued the following year. Collectors prize the issue today, as the coins were well produced and many examples have been carefully preserved.
The present coin is a nearly perfect example of the McKinley issue, with pristine orange and rose-gold surfaces. The devices are razor-sharp and the vibrant mint luster provides exquisite visual appeal. A minute die crack is evident between the rim and the second I in LOUISIANA. Currently, NGC has graded only three examples in MS68, with none finer, while PCGS has certified a single coin in MS68, also with none finer (4/11).(Registry values: N7079) (NGC ID# 26HB, PCGS# 7444)

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