1923-S Monroe Doctrine Centennial. MS-67+ (PCGS). CAC. This is a beautifully toned, expertly preserved example of one of the more conditionally challenging United States classic commemorative coins. Blended reddish-gold, pale olive, powder blue and champagne-silver colors decorate both sides. The distribution is target like and the iridescent quality accents the intense satiny mint luster. Sharply struck and exceptionally appealing.<p>Authorized by an act of Congress dated January 24, 1923 (which also allowed for a maximum mintage of 300,000 coins), half dollars of this type were intended to commemorate the centennial of the announcement of the Monroe Doctrine. The San Francisco Mint struck 274,000 examples, plus an additional 77 coins for assay purposes; most coins distributed by the Los Angeles Clearing House at $1 each. Approximately 27,000 examples were sold, either through the Clearing House or at the American Historical Revue and Motion Industry Exposition, which backed the issue as a source of revenue for the event. The remaining pieces failed to sell and were released into circulation, explaining the abundance of EF and AU examples. With true Gems scarce, Superb Gems like the present coin are rare and represent a significant bidding opportunity when offered at auction.