NOT SOLD (BIDDING OVER)
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This item WAS NOT SOLD. Auction date was 2002 Feb 19 @ 18:00UTC-08:00 : PST/AKDT
Half Dollars 1853 Arrows and Rays. NGC graded Mint State 65. <b>A coin from an old-time collection whose superiority is obvious at first glance and even more stunning upon close-up examination. To begin, this, as the heading reveals, has toning. Both sides, in fact, are exquisitely toned. Upon a base of "antique silver" there shine forth subtle nuances of color ranging from dusky sunset reds and golds to heather brown and blue. Some of the blue blends into steely blue iridescence which is very attractive and a hallmark of old collection pieces. As if the toning on this important one year Type coin weren't enough to set your vision expanding, then the strike and luster characteristics should complete the picture. For this has to be one of the sharpest Arrows and Rays strikes around in its grade. Full head, gown, shield, and sandal foot on Liberty, most stars bold except the three or four just to the left of where Liberty is gazing off into the distance, these are slightly rounded but in no fashion weak. The luster spans the obverse, rich and frosted with almost no luster breaks in the form of tiny bagmarks, just a few here and there. Light die clash marks are evident at the elbow, and we will shortly describe the reverse clash marks as well. So combined, the toning, the luster, and the boldness all bespeak of a hand-selected gem. The reverse is similarly well struck and blessed with abundant frosty luster. For the first time with the 1853 issue, rays appear above the eagle, to his side, and below the tail in a form of a "glory" -- the effect making it look as though the sun is shining from behind. The rays were added in 1853 to signifying compliance with the Coinage Act of 1853 which reduced the coin's weight slightly in order to improve its serviceability in commerce. All rays are needle-sharp. The eagle, with its shield-upon-breast motif, is similarly bold. This includes the neck feathers which are sometimes poorly formed, as well as full clawed feet, another area that is seldom found so sharp. All lettering in the legends as well as rim dentils are crisp. Indications of die clashing are evident within the shield stripes. The same multihued toning graces both sides in an even, balanced, and quite gorgeous fashion! For the connoisseur of America's 19th century seated coins, this lovely gem 1853 Arrows and Rays has to be a highpoint in the sale. We advise a hefty bid to insure this coin finds a place in your collection.</b> Because the quantities of gold exported from California during the gold rush lowered the price of bullion reckoned in silver, in effect forcing up the price of silver reckoned in gold dollars, bullion houses began melting silver coins as worth more than face value. Silver vanished from circulation; little reached the Mint for coinage, and there was nothing between the cent and the gold dollar in circulation aside from irredeemable private scrip. Issue of billon 3c coins in 1851 helped only a little. Something had to be done, and quickly. Mint Director George N. Eckert proposed to Congress that weights of silver coins (except, the dollar) be lowered to a point at which melting would no longer be profitable. Congress did not understand why this would work, but passed his proposal nevertheless; it became the Act of Feb. 21, 1853. Henceforth half dollars would weigh 192 grains = 12.44 grams, compared with their former 206.25 = 13.36 grams. A distinguishing feature on the coins appeared necessary, despite lack of time to prepare and obtain approval of new designs. Eckert therefore ordered addition of arrows flanking the date and rays surrounding the eagle on all standard silver coins below the dollar. <p align="center">Superior Galleries was founded in 1929 and has been a leader in
the numismatic auction business since 1971.</p> <p align="center"><b>Consignments wanted for June 2 & 3, 2002 Pre-Long Beach Sale.</b></p> <p align="center"><b>Call Steve Deeds</b> at (800) 421-0754 ext 230.</p>
Auction Location:
United States
Previewing Details:
2/11-2/15 from 9am-5:30pm by appointment only; 2/16-2/17 from 9am-5:30pm no appointment necessary
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