1900 SC$ HK-787 MS(PCGS#19000)

Summer 2025 Global Showcase Auction U.S. Coins

Auktionator

Stack's Bowers

Losnummer

1159

Erhaltungsgrad

AU55

Preis

4.560

Losbeschreibung

35 mm, octagonal. This is a lovely example of a type that is elusive in all grades. Minimally handled with a softly frosted texture, both sides exhibit charming iridescent champagne-apricot and powder blue highlights to otherwise pearl gray surfaces. A thin scratch in the lower right reverse field and a staccato-like scuff above the letters MER in MERCHANDISE are the only mark of note. Boldly defined overall.<p>The following is from the December 1900 issue of monthly bankers periodical "Dicker man's United States Treasury Counterfeit Detector 'REFERENDUM' Dollars." -- A Victor, Col., dispatch to the <em>Denver Evening Post</em> says:<p><em>A unique enterprise has been established in Victor by Joseph Lesher, a Colorado pioneer and silver mine owner. He has procured a die, laid in a supply of silver bullion, and manufactured several silver coins, each containing one ounce of pure silver. He calls his coins 'referendum' dollars, because they are to be referred to the people for acceptance or rejection. Mr. Lesher proposes to demonstrate that the 'intrinsic value' theory is a delusion and a snare. His silver at the present quotation costs him 65 cents per ounce, the expense of coining is 15 cents -- 80 cents in all, but he values his dollars at $1.25, and intends to keep them above par. Although he is confident that the silver alone is really worth $1.29 an ounce, he admits that other people may be prejudiced: therefore he promises to pay $1.25 in United States money on demand for each "referendum dollar."</em><p>HK-787 was the first type of Lesher dollar issued, and a mere 100 were struck and distributed. Published at the <em>lesherdollars.com</em> website, Adna Wilde's survey states that 50 examples are known for this type, including the specimen offered here, which is engraved with the number 64 near the lower reverse border. A great way to start collecting these popular pieces is to obtain both rarity and high grade, and this one certainly has both.