1878-S 50C MS(PCGS#6360)

August 2011 Chicago ANA - Rarities Night

拍卖行

Stack's Bowers

批号

7135

等级

MS63

价格

1,175,339

详细说明

1878-S Seated Liberty Half Dollar. WB-101. MS-63 (PCGS). CAC. An impressive coin for the delicate russet-gold toning with tinges of blue around the rims. Considered a Proof by B. Max Mehl when sold in the Atwater Collection, although he also noted it could be an early die striking, which is most likely the case. The fields are reflective which contrasts with the more satiny devices. There are a couple of tiny handling marks in the right obverse field and left of the eagle. Toned in classic gunmetal-gold and gray, perfectly matched and balance on both sides, with a frame of silver-blue at the rims. All stars and devices are crisply struck up. Minor hairlines are present from a gentle wiping years ago, but a strong loupe is needed to see these. Certainly one of the finer examples to survive of this prohibitively rare issue, and likely within the top 10 known for the date if not the top six. Curiously, there are about 50 known survivors of this elusive key date. Their condition breaks down as follows, 16 are Fair to VG, another 16 are Fine to AU, and the balance are AU-58 to Mint State&mdash;this from a&nbsp;mintage of just 62,000 pieces for the year. The balance were likely melted and recoined at a later date as worn silver coinage was turned into the mints.<br /> <br /> &nbsp;&nbsp;&nbsp;&nbsp;In 1878 the silver mine owners finally accomplished a great coup. Senators Bland, Allison, Kasson and Kelley managed to through Congress, over President Hayes veto&mdash;a bill that was passed into law on February 28, 1878, the same day Mint Director Henry Linderman approved of George T. Morgan's silver dollar design. Under the Bland-Alison Act, the mints had to purchase between $2 and $4 million worth of new silver bullion each <em>month</em> to coin into silver dollars. Not just <em>any </em>silver bullion, it had to be domestically produced and new--not recycled. Thus foreign sources could not take advantage of these sweetheart deals and backroom agreements. These new coins