Owner Comments:
1878 $1
Judd-1562, Pollock-1753
Rarity: High R.6, PR67 RB CAC Endorsed
Ex: Simpson.
Struck in copper with a reeded edge
Obverse: The obverse bears William Barber's Liberty Head design facing left with E PLURIBUS UNIM above and the date below. Miss Liberty is wearing a cap inscribed LIBERTY in incuse letters. The cap band is ornamented with ears of wheat, cotton leaves and bolls. Thirteen stars are at the border (7 left / 6 right).
Reverse: Inscribed within a laurel wreath, GOLOID / 1 GOLD. / 24 SILVER / .9 FINE / 258 GRS. ONE DOLLAR and the national identification are at the periphery.
Comment: The various metallic compositions that Dr. William Wheeler Hubbell patented as "goloid" in 1877 were so much wishful thinking, and they appear not have inspired much enthusiasm, either at the Mint (save for Mint Director Linderman, ever eager to strike off-metal designs for his own benefit) or Congress. Although they had a predetermined fixed (melt) value of 24 parts of silver to one part of gold (the official federal ratio at the time), they all allowed for considerable deviance from those ratios (for example, the ratio of silver to gold could range for 20:1 to 30:1), and they all had to have a harder metal, copper, alloyed with the soft gold and metal elements (as today) to produce .900 fine (or "coin silver") blanks of sufficient hardness and durability. But beyond technical limits and qualifications, they had a more basic flaw: A small amount of gold, despite assurances that might be stamped on the coin, was undetectable from all-silver or silver-copper alloys, and thus subject to public mistrust and/or private counterfeiting. This pristine Superb Gem proof displays attractive gold and amber dominating against red and light purple hues. The surfaces are sharply struck throughout and free of mentionable distractions.
Provenance/Appearances:
From the Bob Simpson Collection, Heritage Nov 2020 Signature Auction / Lot #3257; Prior
American Numismatic Rarities Aug 15 2004 The Classics Sale: The Allison Park Collection / Lot 1299 (as NGC 67RB);
Heritage Jan 2001 F.U.N. Signature Sale / Lot #8557 (NGC67RB),
Superior Mar 2000 (ANA 2000) Lot 677 (NGC67RB),
Heritage Aug 1998 (ANA Portland) / Lot #5157 (NGC67RB)
Stacks Feb 1978 ( Goshen Collection ) / Lot 765