1850 $1 MS (PCGS# 6937)

The August 2010 Boston Rarities Sale

  • Auctioneer:
    Bowers & Merena
  • Lot Number:
    1078
  • Grade:
    AU50
  • Price:
    $2,473.00
Lot Description
A sharp increase in silver prices brought about by vast discoveries of gold in California in 1848-1849 resulted in an immediate reduction in the amount of bullion being deposited in the Mint for Silver Dollar coinage. Indeed, the 7,500 Seated Liberty Dollars produced in 1850 may have been on government account and not at the request of depositors, but in either case this issue did not reach general circulation at any time during the 1850s. Rather, many 1850 Seated Dollars were probably exported during the mid-to-late 1850s, and the few survivors represent coins retained stateside that were later retrieved from bank stores and local bullion reserves.<br /> &nbsp;&nbsp;&nbsp;&nbsp;With little wear to sharply impressed devices, this coin would accept nothing less than an AU grade. Both sides are brilliant, the fields revealing flickers of a prooflike finish as the coin rotates under a light. A few moderate-size abrasions are scattered about in the fields--a fairly common attribute for a circulated Silver Dollar of this type. Definitely an important bidding opportunity for the advanced collector.
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