1 Dollar (售价 $10500.0)

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1878. 7 TF Reverse of 1879. PCGS graded MS-66. A nice white gem tied for the finest graded at PCGS. The surfaces range from silvery to downright gorgeous hard white frost. A lustrous and well struck Gem. Far in advance of most, this 1878 Reverse of 1879 was struck with systematic exactness including (not excepting) the often seen central weak areas in the design. Devices foursquare and bold throughout. Pop 18; none finer at PCGS (PCGS # 7076) . Historic note: From the late-1870s onward, there was an excess of silver coins in the country, first evident in 1877, but becoming a serious problem even before specie resumption began in 1879. At the time, only the silver dollar was legal tender for any amount. Lesser denomination had caps that varied over time, but merchants or banks or government offices could, and did, refuse payment beyond the specified amount. The general public managed to get rid of the smaller denomination coins in various ways, chiefly through purchases of stamps, payments to the government wherever the Treasury offices would accept them, and deposits in the banks. They poured into the Treasury in a steady stream from 1876 to 1880. Meanwhile the Treasury was paying out new subsidiary Seated Liberty coins in redemption of fractional notes after 1875. When the Bland-Allison Act began to add silver dollars in 1878, the country was called on to absorb in large numbers new subsidiary coins, old subsidiary coins from abroad, trade dollars, and the new standard silver dollars we now call Morgan dollars. Fortunately, the Morgan dollars were used in large part as backing for Silver Certificate paper money, and so were stored in Treasury and bank vaults for the most part. Estimated Value $8,500 - 9,000. Categories: Morgan Dollars

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