1883 Hawaii Dollar. Medcalf-Russell 2CS-5. MS-65+ (CACG).

Finest CACG-Certified 1883 Hawaii Dollar John Albanese: "One of the Better Examples We Have Seen, Period" 1883 Hawaii Dollar. Medcalf-Russell 2CS-5. MS-65+ (CACG). Outstanding technical quality and visual appeal in an example of this extremely challenging issue, this awe-inspiring dollar would serve as the undisputed centerpiece of even the finest collection of Kingdom of Hawaii silver coinage being assembled in today's market. Both sides are strikingly original with rich cobalt blue peripheral toning that yields to gently mottled rose and apricot iridescence toward the centers. The obverse is the more boldly and extensively toned of the two sides, but both are equally lustrous with an intensely frosted finish from the dies. The dollar displays the least amount of intricate definition of the four silver denominations struck for circulation for the Kingdom of Hawaii, as designed, but superior striking quality for the present example has resulted in uncommonly sharp definition. The strike is full, in fact, and we note particularly intricate detail to the hair and beard on the obverse portrait. Surfaces that are remarkably smooth in a Hawaii dollar round out an impressive list of attributes for this conditionally rare upper end Gem. The initiative to have the United States produce circulating silver coinage for the Kingdom of Hawaii came from Claus Spreckels, banker, sugar tycoon and the power behind the sovereign King Kalakaua I. The United States government accepted this proposal in 1883, as part of an ongoing initiative to improve friendly relations and economic links with the Hawaiian Islands. Using dies created by Charles E. Barber at the Philadelphia Mint, the San Francisco Mint struck $1,000,000 worth of silver coinage for circulation in four denominations: dime, quarter, half dollar and dollar. The coins circulated extensively at first, but their legal tender status was short-lived. On January 14, 1903, President Theodore Roosevelt approved an act of Congress to redeem the Hawaiian silver coins at par with United States coinage. Most examples were redeemed and melted, in fact, and by January 1, 1904 the Hawaiian coins were no longer legal tender. No more than $200,000 worth of coins was left outstanding from the original face value mintage of $1,000,000, with the larger denominations from the quarter through dollar being hardest hit by the redemption. Out of a mintage of 500,000 pieces, for example, all but 46,348 of the dollar coins were redeemed and destroyed. Among the survivors, worn condition is far more the norm than Mint State, and most pieces are also impaired due to cleaning, damage, etc. Attractive, original and problem free Gems such as that offered here are very rare and, on the few occasions when they appear at auction, represent a fleeting bidding opportunity for the quality conscious collector. The truly outstanding quality and special nature of this coin were instantly recognized by John Albanese when the coin was submitted to CACG for certification. In an Instagram post by cacgrading on April 15, 2025, John stated: "When this 1883 Hawaiian Dollar came into the grading room, everyone needed a look. This piece is one of the better examples we have seen, period." CACG Population: 1; 0. PCGS# 10995. NGC ID: 2C5D. Click here for certification details from CAC. Click here to see Coins in Motion.

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