1852 (ca. 1859) Pattern and Experimental Coins. Pattern Annular, or Ring-Form Gold Dollar. Judd-147, Pollock-175. Rarity-6. Copper. Plain Edge. Proof-66 RB (NGC). CAC. Obv: A crenulated line design encircles the central perforation, with the legend UNITED STATES OF AMERICA around the periphery and the date 1852 below. Rev: The denomination DOLLAR is above the central perforation, while an ornamental wreath is below. This piece is among the finest examples known, ranking at the very top of the NGC Census. Mostly golden brown surfaces with blushes of pink and blue. Flashes of faded red can be seen on the reverse despite the BN designation of the NGC label. All design features are boldly and deeply defined on this example including the inscriptions, ornamental crenulations, and border dentils. Essentially pristine and a true treat to examine under a light source.An unusual annular format issue, designed to make gold dollars more conspicuous and more easily distinguished from other small coins. Gold dollars in 1852 were about equal in diameter to a silver three-cent piece, and were apt to be easily confused when making change if the persons vision was impaired. To make matters worse, silver coins were not widely circulating in 1852 because a glut of gold on the market had driven up the relative price of silver. The problem of the scarcity of silver in commerce was finally remedied in 1853 when the weight of silver half dimes, dimes, quarters, and half dollars was reduced by several grains from 206 grains to about 192 grains for half dollars and proportionally for smaller denominations. To remedy the inconspicuous size of the gold dollars, the diameter of the denomination was increased substantially in 1854. Ex our (Stacks) sale of July 2008, lot 3377.
