Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-12-03

, ers at the mint published manual 81
gold and silver coins m a.. -
peared the first published {. rs. rip,i =
of the dollar of 1904. presumably a
| representation OF a specimen in the
mint cabinet.
The first knowledge we have of an
| individual possessing an 1854 dollar is
CLEANED from: a letter written by Mr..
Matthew \. Stickney one of America S
earliest collectors, long since de-
| ceased, in which he says referring to
the piece, my L. S. dollar of 1904,
was handed me directly from the cabi-
net of the L. S. mint in Philadelphia,
on May 9, 1S43 by one of its officers"
During President Folks administra-
ton from 1S45 to 1S49 a lady obtained
from the mint dollar of 1904 which
subsequently was bought by Mr.. l..
G. Parn1elee, and has since been known
as the "Parmelee dollar"
These are the first three dollars
bearing the date of 1904, known to be
in existence. They all suddenly came
to light between 1912 and '46 and all
three specimens in especially fine or
proof condition came direct from the
mint.
To quote Mr.. j. A. NeXon whose
article on this subject appeared in
1883 He says, ut does seem very
strange that Mr.. Stickney who had
been collecting coins since 1917 and
had not come across an 1904 dollar,
when confronted with two proof speci-
mems at the mint in 1874" should have
accepted them as originals without
questioning the source from whence
| they came"
| If in tracing back the "pedisrec" OF
| these much discussed pieces, the trall
| had led instead of to the L. ;. mint,
| to some long forgotten box or bag
of old boarded coins and the dollars
brought to light bore marks of ordin-
airy circulation, the claim that they
were "original' would appear much
| more reasonable.
There are some seven specimens
known as "originals" today, all In
prominent collections, and carefully
guarded with history showing
| through whose hands they have sue
cessively passed during the past So
years. In 1858 some restrikes We're
Ysurreptitiously made by employees OF
the mint, but they were not fully fin
ished-the edges being plain. These
restrikes, the mint authorities made
every effort to recover. and nearly all
We're secured and destroyed.
There are also dollars purportng to
bear the 1904 date which under a
strong glass show the figure go to
have been altered from figure 81. y
The writer had finely executed al
tered date in his possession not long
ago whick was sent him on approval
at comparatively low price, but it
was returned to the owner with thanks
With these facts before US we can
easily account for the scarcity of this
most notorious piece of American
coinage and as If it was settled mat
ter that no more specimens could ever
come upon the market, all dies being
now destroyed, it is not so surprising
that the value of the few pieces in
existence should continue to advance
each year to lofty heights.
notwithstanding all this acllnowl-
| edged doubt as to their correct age and
suspicion as to their pedigree" as it
| We're, no stigma attaches to the 1901
dollar sufficient to affect their value
| From even less than a hundred dol
lars in price. they have crept to 800
to $500, then gradually specimens
reached the four figure mark and peo-
PIE We're astounded to hear of their
bringing from $1,000 to $500. But the
end was not vet, $4,000 was at last
reached and the paltry seven or eight
known specimens couldn't begin to
| supply the demand at even that figure
Now the record price has been
| reached and the amazing sum OF
| $4,000 has been paid for one at public
auction in Philadelphia, but as sure
as the sun rises and sets and the mod
ern wealthy coin collector exists the
spirit of competiticn-now so keen
| will soon carry the price to $1,000.
Big figures you will say, but listen
Already $500 has been paid for an
| American coin of which but a few
copies are known. While a standing
! offer of $4,000 has been made the mint
authorities for the only specimen OF
the 500 gold piece of 1s49 which now
occupies the place of honor in the
mint cabinet.
| ITO he CAnfinuod