LOT #1754 |
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1865 $1 MS65 NGC....
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Description
Unsurpassable 1865 Seated Dollar, MS65
Tied for Finest Certified
1865 $1 MS65 NGC. The Civil War was not only a human
disaster of unparalleled proportions in the history of the United
States to that time, it was a numismatic disaster as well. As in
other times of uncertainty throughout our nation's history, people
turned to hoarding currency for worse times that were anticipated
to come. By "currency" we mean gold and silver, which began
disappearing from circulation in December 1861, when New York banks
suspended so-called "specie payments," or payouts in silver coin
for gold or paper currency. By the summer of 1862 all regular-issue
U.S. coinage (and any precious-metal foreign coins as well) had
disappeared from circulated, even Indian cents. Merchants turned to
the production of patriotic Civil War tokens and "store cards" to
try to conduct business, to which hated paper currency and scrip
provided a meager supplement.Silver coin production at the Mint declined drastically during the war years, and whatever silver coin was produced was promptly either tucked away or exported. Bowers' Silver Dollar Encyclopedia maintains that most of the 1865 Seated dollar issue was exported to Central and South America.
Regardless of the precise disposition of the coins nearly 150 years ago, today there is incontrovertible evidence that the issue is quite rare in Mint State grades. Both NGC and PCGS have each certified a couple of dozen Uncirculated pieces, but nearly all of them are MS64 or below. At the Gem level the certified population drops off of the proverbial cliff, with but a single example graded at each service (6/08).
This piece displays wonderful gold-tinged silver-gray surfaces with nary a visible distraction. What little contact can be seen is of the most picayune kind, and the piece has generous eye appeal overall. Light diagonal die polishing marks are visible on both sides. A bold strike has brought up all the star centrils, Liberty's gown clasp, and the eagle details. A marvelous example, likely unsurpassable in today's marketplace.(Registry values: N7079)
Coin Index Numbers: (NGC ID# 24Z8, PCGS# 6955, GSID# 7214)
Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 46,500
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: 15
Lot Tracking Activity: N/A
Page Views: 2,167
Buyer's Premium per Lot:
15% of the successful bid per lot.
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