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1890 Liberty Seated 25C NGC PF67 UCAM

Currency:USD Category:Coins & Paper Money / US Coins Start Price:2,750.00 USD Estimated At:5,500.00 - 8,000.00 USD
1890 Liberty Seated 25C NGC PF67 UCAM
An extraordinary cameo Proof quarter dollar -- ultra fresh, ultra impressive -- a coin with exquisite eye appeal, a bold strike, and glistening mirrors. Sharp and appealing, and easily worthy of the Superb grade.

There was an enormous expansion of silver coinage in the mid-1870s. Then, toward the latter part of 1877 vast numbers of previously exported silver coins began flooding back to the United States from abroad, principally from Central America and Canada. Tens of millions of coins (worth perhaps as much as $30 million in the estimate of Robert W. Julian) returned like a whirlwind from the past. This vast "inpouring" continued well into 1880, much to the amazement of observers.

According to Julian, silver miners and their political partners were not only amazed by the unexpected inflow, but were enraged, because the mints were no longer buying silver for minor coinage. There was no demand for such coinage and the channels of trade were clogged with it. Because there was no inflation in prices paid for goods and services with the added coinage, the long suffering the farmers were not helped.

In response to this inpouring, the Treasury ordered the suspension of minor silver coinage in early 1878 and did not resume it for some years because of the accumulation in the Treasury. It is Julian's contention that contrary to popular belief, the coinage of Morgan dollars had nothing to do with the interdiction of subsidiary silver mintage in the years 1879-90. Proof sales continued along at slightly above or below one thousand pieces each year, however, as the ranks of coin collectors seeking eacy year's proof set remained steady. (#95591)