Lot 784
1875. PCGS graded Proof 66. Beautiful blue toning on both sides. Only 700 minted. A sparkling gem of the optimum quality for this actively collected Seated Liberty With Motto design. Intense reflective luster blends effortlessly with toned mirror-Proof highlights on the outstanding surfaces. Pop 9; 1 finer in 67 (PCGS # 6436) .
Monetary conditions in the 1870s: The 1870s were a time in American history where the monetary chaos that resulted from the Civil War was alleviated, and the country got back to using silver and gold money backing suitable paper money certificates. Between 1873 and 1879, conditions were still stabilizing when this Proof Half Dollar went into production. For years, the country had had to deal with fraction currency notes of denominations from 3c to 50c. Silver coins were either hoarded or exported. Few circulated. Gold carried a preium over "par" with Par being $100 in greenbacks equal to $100 in gold coin. After 1877, the fractional notes ceased to be used as a general currency. The large production of new coins by the mint from 1873 to 1877, and the influx of old coins from abroad in the latter year, gave the country a supply of small silver change greatly in excess of its needs, and the public preference for metal over paper in those days led to a rapid withdrawal of the fractional notes. In one respect the notes were superior to coins. They were convenient and safe in remittances of small sums by mail.
Estimated Value $4,200 - 4,400.
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| Realized $4,935 |
