Lafayette Memorial Silver Dollar

[TomB]

This issue has always intrigued me and, until recently, I had never had the pleasure of owning an example that was perfect for the grade. The Lafayette dollar was our first commemorative dollar, coming on the heals of the Columbian half and Isabella quarter. Truly, at that time there was no paradigm for the issuance of commemorative coinage in the United States and with a small twist of fate here-and-there we may have ended up with a commemorative dollar series rather than the familiar half dollar series.

 

QDB has published a very interesting book on commemorative coinage titled Commemorative Coins of the United States-A Complete Encyclopedia and in it he summarizes each coin. I will paraphrase some of the points listed in the QDB book, many of which are also available in other publications, and include other tidbits that I find neat.

 

The Lafayette dollar, among other things, was the first US coin to portray a likeness of George Washington and was based upon the same work by Jean Antoine Houdon that the later Washington quarter used. It was also authorized as a half dollar to be issued at $2 each but was later sold as a dollar coin at the same $2 price. Interestingly, the Washington quarter was also authorized as a half dollar but we would have to wait until 1982 before a United States half dollar specifically designed to honor Washington would be struck. Only 36,000 Lafayette dollars were issued and within a year the price had fallen to $1.10 for MS coins. Additionally, many were simply released into circulation in a move similar to the Columbian half dollar release. Consequently, circulated pieces are quite common. There were 14,000 remaining Lafayette dollars in the possession of the US Treasury, stored in cloth bags of 1,000 coins each, until they were melted for silver bullion in 1945! It would be truly interesting to see what type of wild bag toning, similar to Morgan dollars, may have developed on those pieces prior to melting. The Lafayette dollar was also struck in a single day, from an old press, and was dated 1900 even though it was struck on December 14, 1899. This caused the Mint some angst as they were not in the habit of antedating coins therefore, the inscription on the reverse-

 

ERECTED BY THE YOUTH OF THE UNITED STATES IN HONOR OF GEN. LAFAYETTE/PARIS 1900

 

technically denotes the anticipated unveiling of the statue and not the issuance of the coin. In that respect, the Lafayette dollar has no officially inscribed release date. These pieces were also struck using four obverse and three reverse die and the consequent die pairing make for one very commonly seen variety and several extremely scarce or rare die pairings.

 

The piece that I purchased is, in my opinion, a perfect choice VF. It has never been cleaned, wiped, hairlined or scratched and has intact, original, medium-depth auburn grey patina that is wonderful. The piece that I have is of the most commonly encountered variety and this coin has already been placed comfortably into my Dansco Type Set album in the 1983-Present slot for commemorative dollars. As it is my type set, I feel free to swap in coins that I believe are more interesting than what the set dictates and this includes the Lafayette dollar and a Hawaiin quarter in the position of a State Quarter. There are other, more subtle changes in my set, too.

 

Here is the coin.

[airplanenut]

Now that's a fantastic coin, Tom! I haven't seen many circulated Lafayette dollars, and certainly none so nice as yours. If I could find one like that, I think I'd fill the hole in my type set, too. A much more inspired design than any dollar we've made in the modern era, and certainly a look that is simply exceptional!

[Hoot]

Truly superb! Finding these in the middle circulated grades without the usual signs of having been abused and/or brightened is truly a difficult feat. You have matched perfectly the phlegmy toning of the many other 19th and early 20th century pieces that you have.

 

Hoot

[cpm9ball]

Now that's a fantastic coin, Tom! I haven't seen many circulated Lafayette dollars, and certainly none so nice as yours. If I could find one like that, I think I'd fill the hole in my type set, too. A much more inspired design than any dollar we've made in the modern era, and certainly a look that is simply exceptional!

 

Jeremy, you haven't been around too much of late. How are you doing in school? MIT, isn't it?

 

Chris

[DaveG]

Nice coin!

 

I haven't seen any other circulated Lafayette dollars, either. I usually see dipped-out lower grade MS pieces instead.

[TomB]

You have matched perfectly the phlegmy toning of the many other 19th and early 20th century pieces that you have.

 

You know, Hoot, everytime I open up that book and look at the coins I just have to hock a loogy! Interestingly, that is the same response I get when I think of you! I wonder how that works...

 

 

[michael]

[JamminJ]

That is a wonderful looking coin.

[EVillageProwler]

Nice write-up, Mr. Brady, and nice coin too. I got my first Lafayette dollar about a year ago -- you've seen it, I believe -- and it has just that right combo of grade, eye appeal and price that I've been searching for...

 

As for Hoot, he has a way of causing people to bring up bronchial execretions.

 

EVP

[spiny]

a Hawaiin quarter in the position of a State Quarter

[jom]

As for Hoot, he has a way of causing people to bring up bronchial execretions.

 

Are you sure it's only bronchial?

 

Nice coin, Tom and nice write-up.

 

jom

[Wihlborg]

Very nice pick up Tom! That’s an outstanding example of a circulated Lafayette dollar, very choice and original. Do you still have that nice Pan Pac you picked up at the GSNA show a few years back? If so you’re off to a fine start on an early commem set.

 

John

[TomB]

Howdy John! It's good to see you post again. Yes, I still have that Pan-Pac and, along with this Lafayette, I have a whopping six early commems. That is, as long as one counts the Norse-American as a commem.

[Wihlborg]

That is, as long as one counts the Norse-American as a commem.

 

Well, you should know that I certainly do. I showed you this example 5 mins. After I bought it.

 

 

John

[HaydenTubbs]

Tom,I just love the original grey toning on that piece!

[EZ_E]

Very nice indeed! I've been looking for a nice one for awhile now as well and can never find a nice one for a decent price. Most are so abused and unnatural looking.Even many ms63 for $1800 are ugly.

 

Very nice Norse medal, too. Is it thick or thin?

[Wihlborg]

Hi Victor,

 

The Norse medal is a thick. I picked it up a few years back at a show Tom and I were both at. It is Graded MS-65, and is the nicest example that I have ever seen personally. I don’t mean grade wise, I’ve seen a number of MS-66 graded examples; I’m talking about eye appeal.

 

This medal lacks the ugly, dirty looking toning that most of these medals are found with. It is basically white with a very nice light gold tinge completely covering both sides. What really sets this example apart though is its luster, it is outstanding. I’m hoping to find a thin as nice someday.

 

Good luck trying to find a nice looking, un-messed with Lafayette Dollar, they are very tough to find. I looked for years before finding this example to add to my set.

 

 

Merry Christmas

 

John

[EZ_E]

Hi

 

 

Merry Christmas

 

John

 

John, my jaw literally dropped open! Wow! Incredible!!!!

 

I have a side collection of modern commem dollars housed in a Dansco album. Since there are extra slots, I want two Lafayette's one with the obverse showing and one with the reverse.

 

Get two like yours and they'd be worth far more than the whole set of proof/ms commems. That is the absolutely best Lafayette that I have ever, ever seen. Wow! Oh, and before I forget to comment on your Lafayette: wow!

 

I picked up a thin Norse in ms64 that I really, really like. Original, white with some light toning. It goes with the Leif Erickson and Iceland commem. It is still in the NGC holder. Just trying to figure out how to best to mount the medal in the album...