This month’s feature is a rare specimen, with pristine surfaces toned to a charming blend of lilac and gold.
The discovery of rich gold deposits in California in 1848 soon depressed the value of this metal as measured in silver. This made the bullion value of American silver coins greater than their face value, and Congress was compelled to lower their weight in 1853. This splendid dime was among the last pieces made under the old standard.
With a mintage of just 95,000 pieces, the 1853 dime without arrowheads was destined to be rare under any circumstances. Further adding to its rarity, however, was the fact that an unknown number were subsequently melted when the weight standard changed. Walter Breen reported that numismatist Harold Newlin uncovered a small hoard a few decades later, and this gem specimen is almost certainly one of those rare survivors. Fully struck, this lovely coin exhibits bright and very frosty luster. Its pristine surfaces have toned to a charming blend of lilac and gold.
Are you interested in Seated Liberty Dimes? Click here to visit the NGC Coin Encyclopedia and read more.