1879 $1 Morgan Dollar, Judd-1613, Pollock-1809, Low R.7, PR63 Cameo NGC....
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|Auction Ended On:||Jan 7, 2009|
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Orange County Convention Center
Design. The obverse is the regular-issue Morgan dollar die, but the reverse is yet another modified version like the Judd-1611 and Judd-1612, with the eagle similar but lower in the field. UNITED STATES OF AMERICA is in large letters (compared to the remainder of the lettering), with ONE DOLLAR at the bottom smaller, and IN GOD WE TRUST in similarly small letters in an inner arc above the eagle. Struck in silver with a reeded edge.
Commentary. To collectors of the day (and to Treasury and bank officials), Morgan dollars were mostly an unneeded and unwanted nuisance, with a couple of exceptions. But Neil Carothers' seminal book Fractional Money--published in 1930 (reprinted 1988 by Bowers and Merena) but a timeless education for serious numismatists--cites two interesting scenarios where the Morgan dollar was popular:
"The coins were, in general, very badly received. In two regions they were accepted in large numbers. In the South they circulated because of an interesting social situation. As a class the recently emancipated slaves were illiterate. There were no gold coins in circulation, and the colored population refused to use greenbacks with their printed symbols. They gladly accepted the new silver coins, and from this situation came the custom of using silver dollars in the South ...
"In the West the aversion to paper money and the general desire to support silver led to the acceptance of the silver dollar. The North and East would have none of them."
Physical Description. Accents of saffron-gold cling to the rims on both sides of this piece. Some moderate hairlining and contact marks in the fields on both sides are noted, accounting for the grade, but this piece is nonetheless attractive and quite rare. More than a dozen are known. The combined NGC/PCGS certified population totals 18 pieces, a figure that undoubtedly includes a few pieces jumping around from one service to another. NGC Census: 1 in PR63 Cameo, 4 finer. PCGS Population: None in PR63 Cameo, 6 finer (12/08).
From The Lemus Collection, Queller Family Collection Part Two. (PCGS# 61991)
Service and Handling Description: Coins & Currency (view shipping information)