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Lot
7642

1863 S$1 PR64 NGC. Coinage struck during the Civil War is scarce and the object of so many collectors because of the unusua...

2005 St. Louis, MO (CSNS) Signature Auction #372

 
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Auction Ended On: May 5, 2005
Item Activity: 7 Internet/mail/phone bidders
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Description:
Choice Brilliant Proof 1863 Seated Dollar
1863 $1 PR64 NGC. Coinage struck during the Civil War is scarce and the object of so many collectors because of the unusual procedures one had to go through to acquire such pieces. Since the government would not accept its own paper currency at par in exchange for coins, the buyer had to purchase coinage from brokers or others at a premium, who in turn had to remit them to the mint with a proofing charge. This awkward procedure explains the reduced mintages for proofs also; in this case only 460 proof Dollars were produced. This is a splendid example that displays an essentially fully brilliant appearance, and just a few scattered hairlines that serve to limit the grade.(#7006) (Registry values: N2998) (NGC ID# 252H, PCGS# 7006)

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