1082

Lot 1082 - 1934-D Peace Dollar PCGS MS66

Currency:USD Category:Coins & Paper Money Start Price:1,500.00 USD Estimated At:3,000.00 - 5,000.00 USD
Lot 1082 - 1934-D Peace Dollar PCGS MS66
1934-D Peace Dollar. The surfaces range from silvery to hard white frost. A luminous and nicely struck Gem. Precision strike on every device, in fact, including Liberty's hair along with the eagle's wing and leg feathers.

In 1933, the incoming Roosevelt administration assaulted the monetary order of the country, forcing it off the old gold standard, confiscating the gold of American citizens and putting it under the ownership of the Federal Reserve. It then placed an embargo on the export of gold and devalued the dollar to $35 an ounce, where once an ounce of gold could be had for about $20. Next, it went about rushing through a new coinage bill in 1934 that greatly expanded silver coinage (hence the renewal of Peace dollar minting in 1934-35) along with a veritable waterfall of silver certificate paper money. All this was an attempt to inflate the nation out of the Great Depression. Despite the sound and fury, the Depression continued well into 1942 before a war boom and the draft swept up the out of work population.
(#7376)<p><i>The Portia Collection of Silver Dollars</i>