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1878-S 50C WB-101, Die Pair 1, R.5 -- Reverse Scratched -- NGC Details. AU....

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Sold on Jul 7, 2016 for:
$39,950.00 Bid Source: Internet bidder
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Description

1878-S Seated Half Dollar, AU Details
Storied Series Rarity

1878-S 50C WB-101, Die Pair 1, R.5 -- Reverse Scratched -- NGC Details. AU. There is no clearer evidence of the power of the silver lobby and the clout of western mining interests than the enactment of the Bland-Allison Act of 1878. Massive silver discoveries led by the Comstock Lode in the late 1850s infused a mountain (literally) of silver into the economy with the inevitable downtrend in silver prices as reckoned in gold. The quickest and easiest solution was to mint more silver dollars in preference over smaller denomination silver coins -- far more dollars than were wanted or needed in commerce. Mintages of quarters and half dollars diminished to only token amounts. Just 12,000 halves were struck in San Francisco in 1878, and they were hard-used in circulation. The 2009 Bill Bugert reference suggests only about 60 pieces survive in all grades. Far fewer have been offered in public sales.

This surviving example avoided excessive wear from circulation, but shows a trio of scratches on the reverse -- most notably, a deep scratch from the eagle's head across the scroll to between S and O of the legend. A smaller scrape runs through the U of TRUST. Less-noticeable pinscratches zig-zag across U of UNITED to the nearest leaf tip. Numerous small marks are scattered across the silver-gray surfaces that deepen in color slightly at the margins. Sharp definition remains, with glimpses of the original prooflike surfaces in the recesses.

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Auction Info

2016 July 7 - 10 Summer FUN US Coins Signature Auction - Orlando Summer FUN #1237 (go to Auction Home page)
Auction Dates
July, 2016
7th-10th Thursday-Sunday
Bids + Registered Phone Bidders: 26
Lot Tracking Activity: N/A
Page Views: 1,223

Buyer's Premium per Lot:
17.5% of the successful bid per lot.

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Sold on Jul 7, 2016 for: $39,950.00
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