LOT Old Heritage Auctions  /  2007 Sept Long Beach Tokens & Medals Auction  / 

81431

1901 Lesher Dollar, HK-794, MS61 Uncertified

Currency:USD Category:Coins & Paper Money Start Price:260.00 USD Estimated At:1.00 - 1,000,000.00 USD
1901 Lesher Dollar, HK-794, MS61 Uncertified
<B>1901 Lesher Dollar, HK-794, MS61 Uncertified.<BR></B></I> Silver, 32 mm. Joseph Lesher was a Colorado businessman and silver mine owner who was, logically, a proponent of the widespread use of silver. Even though the Democrats lost the 1896 and 1900 elections, thereby quelling the Free Silver movement, Lesher still advocated unlimited metal dollar coinage. He issued a series of octagonal pieces that he called "Referendum Souvenirs," so shaped to avoid breaking any Federal laws. Although each piece only contained $0.65 worth of silver at that time, he promised to pay $1.25 in U.S. money for each piece redeemed to him for the first type dated 1900 and $1 each for the 1901-dated pieces.<BR><BR>This lot contains an example of the imprint type Lesher dollar, meaning that a blank space on each piece was provided for cooperating merchants to imprint their name and a serial number. A merchant would have purchased a group of Lesher dollars at the stamped value and then either circulated them or used them as trade tokens. HK-794 is the merchant D. W. KLIEN & CO., PUEBLO, COLO. It is rarely offered for sale and is undeniably rare. HK-794 is one of the few Lesher dollar issues that has not been certified at NGC.<BR><BR>Dr. Philip Whiteley lists eight examples from this merchant, with serial numbers between 971 and 1096. His plate example has the merchant name and city stamped. The present piece has the merchant name expertly hand engraved. The stamped serial number is 7. Other Lesher merchants are also known with hand engraved names, such as Zerbe-12 to 16. For Zerbe-12, Whiteley comments, "Goodspeeds & Co. ... engraved a few and expected to have some stamped at a later time, but only the engraved ones were issued." Zerbe-12 also has unusual gaps in the serial numbers of survivors: 27, 1015, 1020, 1027. D.W. Klein apparently had several engraved prior to receipt of an appropriate stamp. This attractive piece exhibits a rich, natural patina with only a few inconsequential marks visible. A fascinating and rare item that will surely see spirited bidding activity.<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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