LOT Old Heritage Auctions  /  2007 May/June Long Beach, CA Sig. US Coin #438  / 

1346

1852 S$1 MS62 NGC. Starting after 1849''s discovery of

Currency:USD Category:Coins & Paper Money / US Coins Start Price:2,200.00 USD Estimated At:1.00 - 1,000,000.00 USD
1852 S$1 MS62 NGC. Starting after 1849''s discovery of
<B>1852 S$1 MS62 NGC.</B></I> Starting after 1849's discovery of gold in California, the plentiful supplies of the precious metal flowing into the nation's mints and channels of commerce made the relative price of gold fall, and silver rise, as measured against other monetary standards. By 1851, as silver coins' melt value exceeded their face value, they promptly disappeared from circulation. Silver prices continued to be quite high in 1852, and the Mint accordingly struck few silver dollars for circulation. Notwithstanding the high price of silver, most domestic transactions could be handled by the gold dollar, in production since 1849 and becoming popular by this year.<BR> As a result of all of those factors (and perhaps other undocumented today), the Mint produced only 1,100 business-strike Seated dollars in 1852, plus a token proof mintage of 15-30 originals (proof restrikes were produced at a later date, or on several later occasions, likely as early as 1858 and perhaps until the late 1860s or early 1870s). Per the Bowers silver dollar <I>Encyclopedia,</B></I> "Mint State coins seen by <B>owers have satiny, lustrous surfaces with minute die striations." This piece certainly matches those criteria, with fine diagonal (southeast to northwest) striae evident under a loupe on each side. A few stray abrasions--one that is nearly straight, in the left obverse field, a few other scattered ticks--are responsible for the grade. The surfaces show much luster that radiates from beneath pinkish-gray and blue patina on each side. The strike is fairly well executed, with a touch of softness noted on the obverse stars, Liberty's left (facing) arm, and her head and upper gown. But the star centrils are complete, if not bold, and the strike weakness is minor. What is major is the enormous eye appeal, and significant rarity, of this elusive and illustrious piece. NGC and PCGS combined have graded only 13 pieces MS62, with eight coins finer. Census: 8 in 62, 2 finer (4/07).<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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