Reverse
Inscription
Script: Latin
Lettering: Facsimile of Piece of Eight / from / Treasure Island; at bottom San Francisco Bay / California
Comment
1939 Treasure Island Dollar Rarity, HK-485, Listed as "extremely rare" by Hibler-Kappen (1963), this interesting so-called dollar remains elusive to this day. In fact, NGC has not certified a single example. There are other 1939 issues by Treasure Island (HK-481 and 482), but they are not to be confused with the dollar in this lot. Hibler and Kappen note in their treatise on the subject: "... late delivery resulted in the sale of only 150 to 400 for $1 each." This well executed design is a reasonable facsimile of a genuine pillar dollar, also known as an eight reales or "pieces of eight." Truly, finding any example of this rare type is an achievement, but locating an attractive, problem-free example would be a memorable event. The current piece provides that opportunity, as the surfaces reflect minimal wear and the gunmetal-gray patina suggests utter originality. Serious collectors of so-called dollars will surely battle for this specimen. (NGC ID# 2KGW, PCGS# 661050)
