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7260

1859-S $1 MS63 NGC....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 5 Internet/mail/phone bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:
1859-S Seated Dollar, MS63
Low-Mintage Condition Rarity
1859-S $1 MS63 NGC. The coinage of silver dollars in San Francisco in 1859 had a twofold purpose: it was more economical for the mint to strike one silver dollar than two half dollars or 10 dimes, and dollars were also produced to try and cut into the Mexican market for Trade dollars in the Orient. Addressing this second point, the August 1859 Mercury Magazine stated: "every vessel leaving San Francisco for Chinese ports takes a large amount of Mexican dollars." As a result, most surviving 1859-S dollars are VF or XF. Hardly any were intentionally set aside at the time of issue. This is one of the finest examples known of this condition rarity. Only 10 coins have been certified in MS63 with a single piece finer (7/11). Each side has bright fields and intermixed rose and gray toning. The strike is generally strong except on the eagle's plumage. Light abrasions are evident with a magnifier, the most obvious ones being a cluster over the breasts of Liberty.(Registry values: N7079) (NGC ID# 24YZ, PCGS# 6948)

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