1878 G$1 MS67 PCGS. CAC....

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Sold on Aug 12, 2015 for:

$32,900.00 Bid Source: Live: Floor bidder

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1878 Gold Dollar, MS67
Elusive Low-Mintage Issue

1878 G$1 MS67 PCGS. CAC. Faintly reflective fields appear on both sides of this brilliant lemon-yellow Superb Gem gold dollar. This splendid, sharply defined piece exhibits wisps of blue toning. Most of the few scattered marks are planchet flakes, as struck, rather than post-Mint imperfections.

Variety and Die State: Breen-6099. Normal Dies. Struck from unblemished dies with no evidence of die wear or use.

Population (6/15): This is the sole MS67 example at PCGS, and none are finer. NGC reports one MS67 and one MS67 ★ .

Commentary: The Bland-Allison Act was passed on February 28, 1878, creating the Morgan silver dollar and forever changing the numismatic scene. Devised by Western silver interests, the Act required the government to purchase many millions of ounces of silver and convert it into silver dollars. The New Orleans Mint reopened in 1879 to produce silver dollars, and all of the branch mints virtually discontinued production of subsidiary silver coinage for the foreseeable future.

Meanwhile, other legislation brought parity to gold coinage and paper money. The expectation was a boon to gold coinage and its use in circulation, but the result was a continued public acceptance of paper money. Gold dollar mintages remained low, including only 3,000 circulation strikes in 1878.

Douglas Winter Commentary: Despite a similar mintage to the 1877, high-quality business strikes of this date are much scarcer, and Superb Gems are extremely rare. The Duckor coin is the only MS67 example of the date that has been graded by PCGS, and it totally blows away any other 1878 gold dollar I have seen. Steve bought this coin for a record-shattering $37,375 in a mano a mano auction duel with another prominent collector of gold dollars.

It remains to be seen if the demand for this coin will bring it back up to the price it achieved in the February 2012 Stack's Bowers sale where it first surfaced, but I can assuredly tell you that you will never find a better business strike example of the 1878 gold dollar.

Provenance: Stack's Bowers (3/2012), lot 4249.
From The Duckor Family Collection of Gold Dollars.(Registry values: N1)

Coin Index Numbers: (NGC ID# 25DG, PCGS# 7579, Greysheet# 8041)

Weight: 1.67 grams

Metal: 90% Gold, 10% Copper

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