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Lot
5348

1853 G$1 MS69 PCGS. CAC....

2014 January 8 - 12 FUN US Coin Signature Auction - Orlando #1201

 
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Auction Ended On: Jan 9, 2014
Item Activity: 10 Internet/mail/phone bidders
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Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:
1853 Gold Dollar, MS69
Extraordinary Credentials on a Record-Mintage Issue
1853 G$1 MS69 PCGS. CAC. The interrelationship of gold and silver in the early 1850s is inextricably tied up with the mintage and meltage figures of coins made from those precious metals, during a period that was among the most turbulent and historic in American numismatic (and demographic) history. The discoveries of vast quantities of shiny, precious gold in California in 1848 (and leading to the Gold Rush of 1849) was the precipitating event of a great westward migration of fortune-seekers, dreamers, diggers, merchants, miscreants, and ordinary working men and women, all seeking a better life or, at least, the chance to pan, plunder, or profit in one fashion or another.

Vast quantities of newly mined gold made their way not only to the early private minters in California, but to the Federal mint facilities already standing in New Orleans and Philadelphia, Dahlonega and Charlotte, and the tardy San Francisco Mint which would finally open and make gold coins sporadically in 1854. The abundance of gold during the era made silver overpriced in relation to gold; soon it became more profitable to melt silver coins than to use them in commerce. In the early years of the 1850s, little domestic silver coinage could be found in circulation. The situation grew more and more acute during the 1850s, finally coming to a head in 1854, when Congress reduced the net silver content.

In the interim, the hardy little gold dollar, introduced in 1849, performed yeoman service as the fill-in coin for vanished silver. In 1851-53 the Philadelphia Mint struck, respectively, 3.3 million, 2.0 million, and 4.1 million coins, 1853 being the high-water mark for production in the entire series.

Mint State survivors of the 1853 gold dollar issue are relatively plentiful; circulated examples are legion. The honey-gold surfaces on this impeccable piece, of course, put it into a tiny class, not quite all by itself, but close; PCGS has seen only three submissions in this grade and has never certified a "perfect" MS70 example. The strike appears full throughout both sides, with lighter glints of yellow-gold alternating with the dominant deeper honey-gold. An ordinary issue in extraordinary condition, with equally impeccable credentials.
From The David & Sharron Akers Collection.(Registry values: N1) (NGC ID# 25BU, PCGS# 7521)

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