1900 SC$ HK-787 MS(PCGS#19000)

August 2020 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

2156

等级

AU55

价格

21,675

详细说明

Seldom Offered HK-787 Lesher Dollar First Type, with No. 5 1900 Lesher or Referendum Dollar. First Type. HK-787, Zerbe-1. Rarity-6. Silver. No. 5. AU-55 (PCGS). 35 mm, octagonal. Offered is a richly original, uncommonly well preserved example of an elusive Lesher type. Handsome steel-gray, pewter and deep olive patina blankets both sides, the surfaces revealing pretty cobalt blue undertones as the medal dips into a light. Traces of original luster persists, the surfaces overall smooth in hand with mostly faint, wispy handling marks that are easily overlooked. Accuracy, however, does compel us to mention a thin, shallow scrape at the upper right obverse border that bisects the letter M in REFERENDUM. PCGS has mounted this medal with the reverse up in the holder. The following is from the December 1900 issue of monthly bankers periodical "Dicker man's United States Treasury Counterfeit Detector 'REFERENDUM' Dollars." -- A Victor, Col., dispatch to the Denver Evening Postsays: "A unique enterprise has been established in Victor by Joseph Lesher, a Colorado pioneer and silver mine owner. He has procured a die, laid in a supply of silver bullion, and manufactured several silver coins, each containing one ounce of pure silver. He calls his coins 'referendum' dollars, because they are to be referred to the people for acceptance or rejection. Mr. Lesher proposes to demonstrate that the 'intrinsic value' theory is a delusion and a snare. His silver at the present quotation costs him 65 cents per ounce, the expense of coining is 15 cents -- 80 cents in all, but he values his dollars at $1.25, and intends to keep them above par. Although he is confident that the silver alone is really worth $1.29 an ounce, he admits that other people may be prejudiced: therefore he promises to pay $1.25 in United States money on demand for each 'referendum dollar.'" HK-787 was the first type of Lesher dollar issued, and a mere 100 were struck and distributed. Of those Wilde's survey recorded 46 examples of this type, and most are in lower grades than seen here. This one is engraved with the number 5 near the lower reverse border. A great way to start collecting these popular pieces is to obtain both rarity and high grade, this one certainly has both, along with a great pedigree. Click here for certification details from PCGS.