Cert #8660 7724745

Coin Number 130

Another super low mintage date with a scant 1,790 pieces struck for the entire year. Today there are between 50 and 65 pieces around, and this is the only one certified in any grade of mint state by both PCGS and NGC and thus likely the finest known of the entire mintage. Notice the soft mint luster in the protected areas and the generally sharp strike. This one is as nice as this date has ever been found. As the monetary disruptions for the Civil War financing using unbacked paper currency continued to confound the markets, gold and silver coins virtually stopped circulating from 1862 until 1879, when the price of gold and paper money finally equalized. As of 1871, gold was trading at a significant premium to the paper greenbacks. This is the reason most of the mintages of this era were so tiny, although it does appear more gold coins were in circulation in the west where merchants preferred gold and silver coins over paper.

Ex Admiral Collection