1921 S$1 PEACE

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Superlative 1921 Peace Dollar From the "Emperor Norton Collection"

We are pleased to offer for public auction the second highest graded Peace dollar set ever assembled, the so-called Emperor Norton Set. While not directly linked in any way to the mid-19th century San Francisco eccentric, who in 1859 proclaimed himself Norton I, Emperor of the United States and Protector of Mexico (he later dropped the Protector of Mexico considering it impossible to protect such an unsettled nation), the collector of this remarkable set of Peace dollars is a descendent of one Samuel Norton, who came to California in 1852. Like Emperor Norton, he too planned to make his fortune selling goods and services to the miners of California and Nevada, rather than panning for gold himself. He trekked to Virginia City, Nevada where the first goods he carried from Boston were a sellout. On his next trip from Boston, he walked from San Francisco to the early pueblo of Los Angeles. Preceding the railroad and telegraph, the news Samuel Norton brought from the East Coast, along with his goods, brought hospitality at haciendas and often the loan of a horse for his next day's journey. The profits from his second trip gave rise to a successful dry goods business in Los Angeles.
The maternal great-grandparents of the owner of the Emperor Norton Collection came to San Francisco in the 1870s. The assembler of these splendid Peace dollars also grew up in San Francisco and wished to honor his mother, Adrienne Norton. Although not related to Emperor Norton I, the owner of this set also wished to honor Joshua (Emperor) Norton, whose scrip still recalls his eccentric man and the dashing ways of early Californians.
1921 MS 66 PCGS. 1921 Peace dollars are one of the coins in U.S. numismatics that have a high degree of visibility. They are known to novices as well as advanced collectors, they are the only Peace dollar struck in high relief, and yet this date perpetually seems to be undervalued compared to other coins. Perhaps this is in part because the high relief the coin was struck in caused the overwhelming majority of dollars to be incompletely struck. While this piece lacks an absolute full strike, all the feathers on the eagle are present if not completely brought up. Likewise, on the obverse the hair detail over the ear of Liberty lacks the pinpoint detailing of a proof, but it is as full as one is likely to find on a coin that combines near-completeness of strike, outstanding luster, and mark-free surfaces. It has been many years since we have handled a 1921 Peace dollar that had the overall visual impression of this coin. In fact, the only rivals that come to mind are a pair of toned 1921s consigned to one of our auctions in the summer of 1979 by Rick De Francis. Those pieces realized a substantial market premium, and we expect this coin to fetch more than the "average" MS 66 offered in the marketplace. From the Emperor Norton Collection and accompanied by a Classic Photo Proof.

Coin Index Numbers: (NGC ID# 2U4E, PCGS# 7356, Greysheet# 7887)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS