Photo Denom Date Grade TPG Variety GFRC Rating Price Description Buy
Seated 50C 1851O Seated 50C 1851-O
 MS63 NGC
6056760015 		WB-1
 Choice $3650 New April 12! Pre-1853 Silver Arbitrage Survivor, Steely-Frosted Radiance, Emerald Collection. The discovery of huge amounts of California gold brought about a shift of the bimetallic gold/silver ratio. The U.S. operated under a bimetallic standard from 1792 to 1853, where both gold and silver were used as legal tender. The Coinage Act of 1792 established the gold-to-silver ratio at 15:1, meaning one ounce of gold was valued the same as 15 ounces of silver. This ratio was intended to reflect the market value of the two metals at the time. By 1853, the U.S. began moving away from the bimetallic system, as the discovery of gold in California and other factors disrupted the balance further with silver bullion becoming more valuable than the face value of circulating coinage between 1850 through early 1853. Large denomination coinage struck in New Orleans was prone to export for silver arbitrage purposes. Somehow, this steely-frosted survivor was spared. Bright light radiance is compelling with orange-rose and aquamarine hues blended across the obverse while the reverse features center aquamarine surround by a light orange-gold band. The strike is fully executed with a few wispy rub lines in the fields. Housed in new large font NGC holder. Previously sold at Heritage Auction 09/21 where it realized $4080.