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Sale 54
Lot 1456
1883 Hawaiian Dollar. NGC graded Proof 62 Cameo. Light golden toning. Only 26 struck in Proof. This is an extremely rare example of the Akahi Dala, or One Dollar (same weight and fineness as the U.S. Morgan silver dollars of this period). Only slightly more than two dozen were struck as Proof issues for the Hawaiian Government from dies prepared at the Philadelphia Mint. Curiously, the copper pattern issues for Hawaiian coinage were prepared and coins struck at the San Francisco Mint. These dies were engraved by Charles E. Barber. Months after the transaction was completed, it turns out that Claus Spreckels, the sugar baron, who used his influence to have the coins made for the Hawaiian Government, had clandestinely pocketed a $100,000 to $150,000 "seignorage" profit on the transaction, much to the annoyment to the government authorities. When they found out, there was little they could do about it besides fume.
We note some almost invisible hairlines in the fields, accounting for the still very choice grade. The devices, as on the other example in the sale, are all supremely sharply struck and well frosted, giving everything its cameo appearance. Toned a bit at the rim with russet brown, and with nothing untoward to describe in the way of detractions. Struck in .900 Fine silver with a reeded edge, which is visible in the NGC holder. Long known as a classic rarity, and certain to be the highlight of any specialized Hawaiian collection.
Some time after the coins were produced, the original dies (obverses only) were defaced with chisel marks and now reside in the Hawaii State Archives in Honolulu (small building next to the popular tourist attraction of Iolani Palace. Few have ever seen them but they can be viewed upon request, they are not on display. Scant auction records are recorded for these, they simply do not sell frequently with so few made. Pop 2; 2 in 63 Cameo.
Estimated Value $12,000 - 15,000.
From the 9/09 Hawaii Collection.
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| Realized $21,850 |
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