Lot 1147
1926 $2.50 Indian. PCGS graded MS-62. People often ask whether gold coins such as this Indian quarter eagle actually circulated in the 1920s. Your cataloger can say definitely, Yes! He had an uncle, since deceased, who as a young man of 18 worked in a bank in Detroit, Michigan in 1930 and 1931. One of his craft-paper pay envelopes passed down through the family line to his mother and then to your cataloger's mother. In it was one week's pay consisting of two Indian Head quarter eagles (a 1910 and a 1925-D) in approximately EF45 condition, plus a Canadian $5 gold piece dated 1912 in the same grade. Ten dollars in gold. Bear in mind, Canada's gold $5 and $10 coins weighed the same as our US gold coins of similar denominations. They were acceptable at par in the US and were seen often in the border states such as Michigan. By some chance of fate, this gold coin wage packet was saved. (The bank later went bankrupt in 1931, during a series of banking panics that marked the era.) (PCGS # 7950) .
Estimated Value $325 - 350.
|
| |
| Realized $483 |
