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Sale 59
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Lot 1011
1877 Trade Dollar. NGC graded Proof 65. Star. Only 510 Proofs struck. Lovely blue and lilac toning on both sides. A lovely coin. In 1877, the government attempted to prevent the dumping of trade dollars on the domestic market by requiring bullion depositors to prove that they were going to export abroad. About all this accomplished was to encourage false manifests and declarations. New regulations did force the bullion depositor to export an additional number of coins, but a great many still wound up at home. Toward the end of 1877, for all practical purposes, the coinage of trade dollars was stopped, but great political pressure was brought to bear on Treasury officials, who caved in. For a short time in 1878 heavy coinage resumed at San Francisco (4.2 million pieces), but in early April they were halted for good. After that only Proof coins were made for collectors until the series ended in 1883.
The 1877 Proof is a rarity, confirmed by the mintage and doubly established by simple everyday experience. For of every Proof 1877 Trade Dollar offered, we have handled multiple times that many Proofs from the 1879-1883 era. This is more eye-opening as one moves up the grading scale. Truly, here is a marvelous Gem that has few equals among similarly dated Proofs of this design. The colors are fantastic. The detail, keen as a knife's edge. The fields sparkle; devices shine with frosted iridescence. Bidders will want to make a note of this and plan accordingly. NGC Pop 1.
Estimated Value $9,000 - 10,000.
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| Realized $9,775 |
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