1850 $1 MS (PCGS# 6937)

The November 2011 Baltimore Auction

  • Auctioneer:
    Stack's/Bowers
  • Lot Number:
    2644
  • Grade:
    AU58
  • Price:
    $5,175.00
Lot Description
A ""magic date"" in the Liberty Seated silver dollar series of 1840 to 1873, 1850 witnessed limited business strike deliveries in both the Philadelphia and New Orleans mints. The Philadelphia Mint's delivery is actually the lower of the year at just 7,500 coins struck. With silver prices continuing to rise due to the vast quantities of gold being mined in California, little bullion was deposited in the Philadelphia Mint for silver dollar coinage in 1850. In fact, it is possible that the entire mintage for the 1850 was achieved on government account and not at the request of bullion depositors, which was customary during the 1840s. Regardless of on whose account they were struck, 1850 silver dollars saw limited commercial use, at least within the United States' borders, most examples either being destroyed for their bullion content or finding their way to the Orient as part of the United States' export trade in the years before the introduction of the trade dollar. A (much) smaller number of coins were retained as part of bank reserves within the United States, these pieces almost certainly accounting for the majority of survivors in numismatic hands.<br /> An otherwise brilliant near-Mint example, the coin we offer here does display a blush of pale apricot iridescence over the left central reverse. Satin to semi prooflike luster is readily evident, and the devices are fully defined with little (if any) wear that would seem to preclude a Mint State grade. In fact, light hairlining and a touch of glossiness to the surface texture might be the only explanations for the AU-58 designation returned by PCGS. A visually appealing example of an elusive Seated dollar issue, and a coin that would make an important addition to an advanced collection.
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