Lot 1925
1873 Open 3. ICG graded MS-62. Mostly untoned. The Philadelphia Mint continued to strike gold coins in 1862-79 even though the banks (as well as the Treasury Department) refused to pay them out at "par" for paper money. To acquire gold coins in those years by tendering paper dollars or by cashing a check, one had to pay a premium of anywhere from 4 to 8 percent or higher, thus $108 in paper would buy $100 face value in gold coins. The market didn't stabilize (return to par) until January 1, 1879.
Estimated Value $400 - 440.
|
| |
| Realized $322 |
