LOT #1759 |
Sold on Jul 31, 2008 for: Not Sold
1863 $1 PR67 NGC....
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Sold on Jul 31, 2008 for:
Not Sold Description
Spectacular 1863 Seated Dollar, PR67
Tied for Finest Certified
1863 $1 PR67 NGC. Although the Union was assured of a short
and easy victory at the outset of the Civil War (April 12, 1861,
the bombardment of Fort Sumter, S.C.), by 1862 numerous battles and
victories on both sides had brought about monstrous casualties; the
determination of the conflict was anything but certain. Banks
suspended specie payments (payouts in the form of gold coins) in
December 1861. Gold, silver, and all coinage began to be hoarded in
the East. The price of silver (and gold to a lesser extent) as
measured against paper "greenback" notes began to rise. By the
second week of July 1862, all coins--even copper-nickel Indian
cents--had vanished from circulation. Only scrip, paper money,
Civil War store cards and patriotic tokens, and fractional currency
remained for Americans to try to conduct commerce. (The situation
was far different in the West, where gold and silver circulated
freely throughout the war. There were ample supplies of gold and
silver, and market adjustments from one coast to another were not
readily absorbed; the transcontinental rail link was not completed
until 1869.)Mint officials introduced a two-tiered pricing system for proof coins beginning in 1862, with a higher price for greenbacks or bank drafts, another (like for like) for payment in coins. Bowers' Silver Dollar Encyclopedia points out that, while customers may have had increased difficulty acquiring proof gold and silver coins from 1862 forward, those who did may have held onto them not only because of the historic times in which they were issued, but also because of their increased apparent rarity.
The fields on this magnificent example are deeply mirrored on each side, and the devices display a noticeable overlay of mint frost on the devices--enough to give the coin a cameo effect (although undesignated on the insert). The central portions of each side are a lovely rose patina, encircled by shimmering light blue at the margins. An essentially defect-free example of this important date.
This spectacular Seated dollar is one of five of the issue so certified in this top echelon, including four pieces at NGC and a single example at PCGS. There are only a bit more than six dozen Seated dollars, including all dates, Cameos and Ultra Cameos, certified PR67 at NGC (6/08).(Registry values: N10218)
Coin Index Numbers: (NGC ID# 252H, PCGS# 7006, Greysheet# 7313)
Weight: 26.73 grams
Metal: 90% Silver, 10% Copper
Auction Info
2008 July-August Baltimore, MD (ANA) US Coin Signature Auction #1114 (go to Auction Home page)
Auction Dates
Jul-Aug, 2008
30th-3rd
Wednesday-Sunday
Bids + Registered Phone Bidders: 5
Lot Tracking Activity: N/A
Page Views: 496
Buyer's Premium per Lot:
15% of the successful bid per lot.
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