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

1369

1859 S$1 PR65 NGC. The year 1859 was a seminal one in

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1859 S$1 PR65 NGC. The year 1859 was a seminal one in
<B>1859 S$1 PR65 NGC.</B></I> The year 1859 was a seminal one in American numismatics. In the years before, supplies of silver mined domestically in the United States were scarce. Although silver coins (except for silver dollars, which did not circulate because they were overweight, in terms of minor silver coins, by more than 9%) had circulated effectively since the weight reduction of 1853, most of the silver came from foreign coins turned into the mint, melted, and recoined. The discovery of vast stores of silver in the form of Nevada's Comstock Lode in 1859 changed all that. Although it took a couple of decades for the Comstock to reach peak production, one modern estimate (from Bowers' <I>Silver Dollar Encyclopedia</B></I> places the total production through 1882 at $397 million.<BR> Even business-strike 1859-dated Seated dollars are scarce. Most of them were likely shipped to the Orient and melted. Although the <I>Guide Book</B></I> lists 800 proofs, the Mint's experiment with offering (and advertising) proofs to the general public was still in its infancy, and it appears that the Mint struck many pieces that went unsold and were later disposed of in some way. Between NGC and PCGS, slightly less than 300 pieces, less duplicates, have been certified in all grades. This piece offers lush cobalt-blue and pinkish-gold surfaces with an extremely bold strike, and much luster radiates outward, despite the fairly deep patina. A nice, nice coin for the grade. Census: 15 in 65, 20 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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