1923-D $1 MS (PCGS# 7361)

2013 June 5 - 9 US Coin Signature Auction - Long Beach #1186

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    Heritage Auctions
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Lot Description
1923-D $1 MS67 PCGS. The 1923-D Peace dollar claims a nominal mintage of just over 6.8 million pieces and few examples were known to contemporary collectors. It seems that the majority of the issue was not released into circulation until years later, and an article in the July 1925 edition of The Numismatist revealed that collector E.S. Thresher had been diligently searching for an example for more than two years without success. When collecting Peace dollars became widespread in the 1930s, first issue of the series to be considered a rare date was the 1923-D. By 1938, Q. David Bowers reports Uncirculated specimens were selling for a healthy premium of from $12.50 to $20. Fortunately for present-day collectors, the Treasury began releasing bags of 1923-D Peace dollars in the autumn of 1938, and the issue has been reasonably available since that time. The long period of storage did have its effect on most examples of the 1923-D, however. While the issue is often seen with good luster, most examples show extensive surface marks from coin-to-coin contact in the Mint's canvas storage bags. The dies seem to have been used too long, as well. Many specimens, including the coin offered here, show an extensive network of die breaks on the obverse. The 1923-D is often softly struck on the central reverse, due to improper spacing of the dies. While PCGS and NGC have combined to certify just over 100 examples of the 1923-D in MS66, the present coin is the only MS67 specimen seen at either service (4/13). The ivory surfaces of this delightful Superb Gem are enhanced by shades of gold and amber toning in selected areas, with vibrant mint luster throughout. Close inspection with a loupe reveals no mentionable distractions on the pristine surfaces. The strike shows some of the typical softness on the central reverse, but details are sharp in other areas. Eye appeal is terrific for this important better date. This coin should find a home in the finest collection or Registry Set.
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