Lot 1521
1933 SC$1 HK-820 Rarity 5 Montana Dollar. NGC graded MS-65. Beautiful rainbow toning on both sides, a boldly struck Gem. The Montana Silver Association, with headquarters in Helena, Montana, had as its purposes "To unite and encourage, through organization, those who believe in the restoration of silver in the monetary system of the United States and other leading powers throughout the world."
Frank H. Cooney, Montana governor, and J. E. Erickson, U. S. senator, were prominent among members of the advisory council. Council and board of directors were composed of U. S. congressmen, state senators and representatives and other state, college and private industry leaders.
As a means of financing its activities the organization adopted a silver medal, to be issued to members instead of a membership card upon payment of $1 dues. The medal contains one tray ounce of silver.999 fine. Net profit to the association was about 55 cents after silver and die costs had been paid. According to C. R. Brazier, organization secretary, 2225 medals were ordered struck, with initial shipment consisting of 300 pieces; distributed by Union Bank and Trust Co., Helena. Actual number of pieces issued cannot be established, but many medals were melted and most authorities agree that there are substantially fewer than 100 specimens extant today.
Estimated Value $1,000-UP.
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