LOT #4514 |
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1870 G$1 MS66 PCGS....
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Sold on Jul 9, 2010 for:
$5,750.00
Bid Source: Internet bidder
Description
1870 Gold Dollar, MS66
With Prooflike Surfaces
1870 G$1 MS66 PCGS. The skimpy mintage of 6,335 gold dollars
in 1870 came at a time when a plethora of unbacked fractional
currency left over from the Civil War drove "good money" out of
circulation, as Gresham's Law--"bad money drives out good
money"--dictates. The situation was aggravated by postage currency,
copper-nickel cents and three cents that were technically
unredeemable, as were copper and bronze half cents, cents, and two
cents. This currency patchwork quilt may have led to the retirement
of a few of the shiny new 1870 gold dollars, which were then
retained due to their low denomination and novelty value.This Premium Gem coin displays repunching at the base of the 0 in the date, seen on most examples. Frosty orange-gold surfaces are noticeably prooflike, a byproduct of the low mintage, and only the tiniest ticks appear on either side. A super example of this low-mintage postbellum issue. Population: 4 in 66, 7 finer (6/10).(Registry values: N4719)
Coin Index Numbers: (NGC ID# 25D6, PCGS# 7569, GSID# 8032)
Metal: 90% Gold, 10% Copper
Weight: 1.67 grams
AGW: 0.04838oz
Mintage: 6,335
Auction Info
2010 July Orlando, FL (Summer FUN) Signature US Coin Auction #1142 (go to Auction Home page)
Auction Dates
July, 2010
8th-11th
Thursday-Sunday
Bids + Registered Phone Bidders: 6
Lot Tracking Activity: N/A
Page Views: 724
Buyer's Premium per Lot:
15% of the successful bid per lot.
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