1860 $1 MS(PCGS#6949)

June 2022 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1374

等级

MS64+

价格

92,528

详细说明

Condition Census 1860 Silver Dollar Underrated Circulation Strike Issue. 1860 Liberty Seated Silver Dollar. OC-1. Rarity-3+. MS-64+ (PCGS). CAC. Offered is a truly exceptional example of this often overlooked issue among No Motto Liberty Seated dollars. It is a wonderfully original near-Gem dressed in blended mauve-gray and steel-olive patina, the peripheries with vivid cobalt blue undertones. Both the strike and luster are full, and were it not for a few ancient marks on the obverse this coin would certainly have secured a Gem Mint State grade. The reverse alone, in fact, is an MS-65+ in quality. A PQ example worthy of the strongest bids. Circulation strike silver dollar production remained strong in 1860 in response to heightened demand for these coins to use in the export trade with the Orient. The Philadelphia Mint's issue of that year was produced to the extent of 217,600 pieces -- one of the highest totals in the entire Liberty Seated dollar series. Much of the precious metal for this issue was supplied by increased output from the Comstock Lode, which was largely shipped to the East and South where bullion brokers deposited it at the Philadelphia or New Orleans mints and requested dollars for use in the export trade. As with the 1859, many examples of the 1860 were probably included among the more than 1,250,000 silver dollars shipped to China in 1859, 1860 and 1861. Other 1860 dollars were held domestically by banks, merchants and bullion brokers until acquired and subsequently melted by the Mint to provide bullion for the large mintages of subsidiary silver coins at Philadelphia in 1861 and 1862. Indeed, R.W. Julian believes that the recently produced 1859 and 1860 Philadelphia Mint issues may have been disproportionately affected by this mass melting since they would have been the two issues most widely represented in bank reserves at the time. The wholesale destruction of coins through melting -- either after export or at the Mint -- explains why the 1860 is far rarer in all grades than the substantial mintage would suggest. Due to this discrepancy, the 1860 is one of the most underrated Liberty Seated dollars, a distinction it shares with such other relatively high mintage issues as the 1859 and 1869. In Mint State the 1860 is very scarce in lower grades through MS-64 and rare any finer. This PCGS/CAC MS-64+ example is solidly in the Condition Census and ranks among the finest known for the issue. It is strongly suggestive of a coin that found its way into numismatic hands, or was otherwise handled with great care, immediately upon leaving the Mint in 1860. Provenance: Ex Bill Nagle, March 2007; Eugene H. Gardner; Heritage's sale of the Eugene H. Gardner Collection, Part II, October 2014, lot 98595; unknown; Osprey Collection, December 2021; Narva River & Lake Balaton Collection, March 2022. PCGS Population: 2; 6 finer (MS-66+ finest). CAC Population: 7; 3. The former total includes coin certified both MS-64 and MS-64+. PCGS# 6949. NGC ID: 24Z2. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA.