Lot 1374
1883 Hawaiian Ten Cents. NGC graded MS-65. Lovely blue and gold toning over gleaming fresh luster. This is a noteworthy example whose lovely patinated surfaces show their careful preservation throughout and are entirely free of distracting contact marks. A sharp impression was left by the recoil of the dies that struck this, as well, confirming the Gem MS65 grade. Pop 16; 6 in MS66. (PCGS # 10979) .
"The Kalakaua coinage of 1883 resuited from an adroit combination of two apparently unrelated laws: The Coinage Act of 1880 and the National Loan Act of 1882. The coinage act provided that the Minister of Finance could buy gold and silver bullion "with any moneys which may from time to time be in the Treasury." With the bullion he could have gold coins minted of certain specified denominations and 'Silver Coins of the value of One Dollar, Fifty Cents, Twenty-five Cents and Twelve and one-half Cents.' All coins were to be of the same weight and fineness as coins of the United States.
"The National Loan Act provided for the lending of $2,000,000 for specific purposes, the most important being encouragement of immigration and agriculture, and construction of roads, bridges and government buildings. Under the law, the proceeds were not to be used for current expenses of the government. Bonds under the loan act were to be issued at not less than par, with an interest rate of not more than six per cent a year. Principal and interest were to be payable 'in United States gold coin or its equivalent." [Joseph Adler, 1960].
Estimated Value $3,000 - 3,300.
From the 9/09 Hawaii Collection.
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| Realized $7,188 |
