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Finest Known 1776 Continental Dollar Offered at Heritage Long Beach Auction
The
1776 Continental dollar is an enigmatic, complex issue that has fascinated numismatists for more than 200 years. Numismatic scholars from
Sylvester Sage Crosby to
Eric P. Newman and
Michael Hodder studied the issue in detail, mapping out a convincing theory of the origin and purpose of the coins and classifying the numerous varieties that surfaced over the years. Recently, exciting discoveries by authors like
Eric Goldstein and
David McCarthy have raised questions about the fundamental nature of these coins and their place of origin. The new evidence is certainly thought-provoking, but we suspect the last word on the Continental dollar has yet to be heard.
As the young American economy began to flourish in the early 19th century, deposits of silver bullion at the
United States Mint increased. The hiatus of the silver dollar beginning in 1804 meant that the half dollar was the largest silver denomination available, and it was embraced as the backbone to commerce for the three decades to follow. From a start of just 750,000
Capped Bust half dollars struck in 1807, mintages quickly rose into seven figures. By 1825, mintages had twice surpassed two million and nearly three million would be struck for 1825. Even so, the vast majority of these pieces were placed into circulation, saw heavy use, and were melted over the following century.