1858 LIBERTY SEATED 10C, DRAPERY PR66
FABULOUS GEM. ONLY 80 STRUCK. TIED FOR HIGHEST AT PCGS. CAC.
NGC Graded Higher:
In 1858, Abraham Lincoln lost the election for Illinois Senator to Stephen Douglas, though he carried over four thousand more votes than the incumbent. A couple years later, the two would face off again in the presidential election, where Lincoln would overcome the Senator. This 1858 dime recalls the first time Abraham Lincoln ran against Stephen Douglas, but not the last time.
Beginning in 1853, the United States Mint lowered the weight of the Dime from 2.67 grams to 2.49 grams. This was done to discourage the hoarding and melting of silver coins that became popular (and profitable) during the California Gold Rush era. Due to the vast majority of gold being mined on the U.S. West Coast, the value of silver reckoned in gold increased on the world market to the point where old-tenor Dimes became worth more as bullion than as circulating coinage. In order to denote this weight reduction, the Mint placed arrows at both sides of the date beginning after February 21, 1853 and continuing through 1855. Since they were struck during the era before the Mint began widespread marketing of proof coins, specimen strikings of the 1853-1855 Arrows Dime were produced in very limited quantities. All three dates of this short-lived type and rare in proof format, and survivors enjoy strong demand among both advanced type collectors and numismatic investors.