Owner Comments:
SO-CALLED DOLLAR APPEARANCE/CONDITION:
TOP POP: Almost Uncirculated — Resubmitting to NGC for updated catalog numbers on label and new holder (currently housed in a scratched up older NGC slab).
“National Mining & Industrial Exposition Official SCD”
*Extremely and utterly rare in all grades; only seen 2 come to auction. Nearly uncirculated with very minor wear. However, abrasions and contact marks are prevalent throughout. Regardless, the example has phenomenal eye-appeal. Original brilliant luster can be seen shining from the protected areas and minimal distractions are present. An aesthetically stunning issue in all respects.*
SO-CALLED DOLLAR DESCRIPTION:
“From the 1882 National Mining & Industrial Exposition in Denver, Colorado. ‘N. Matson & Co. Chicago’ in small print. Rulau-CO-DE-6; Very Rare in white metal. Extremely Rare in silver. Sometimes found holed in white metal. White Metal, 40mm.” — Credited Source: socalleddollar.com — “The exposition exhibit hall signed N. Matson & Co. Chicago on the obverse. The Matson Company operated from 1876 to 1888 in the jewelry, silversmith, and watch business. A view of the Rocky Mountains as seen from Denver is on the reverse.” — Credited Source: Shevlin and Hyder
—————
“Planning began at the end of 1880 with a proposal for a permanent mining exposition grounds that would become a grand museum. The Director of the Denver Mint agreed to accept the position of Acting President to raise the stature of the endeavor. It was to be the greatest event of the year for the city and the state.
——-
The primary three-story exposition building depicted on the obverse was built in the shape of a Maltese cross, a substantial edifice of brick free from any ornamentation. Micro signature below edifice, N. Matson & Co. Chicago.
——-
Organizers sought to secure a full representation of all minerals and information needed to promote intelligent mining and combat the battle against frauds that were crippling mining interest in Colorado and the West. Mining industry investors were aware that the swindlers on the East Coast were selling stocks they did not own to the detriment of legitimate mine owners seeking investments.
——-
More insidious were efforts to depress the value of legitimate stocks. An article that ran in the January 21, 1879 issue of the “Vermont Burlington Free Press” warned investors away from the Sunshine Mines stock. It claimed that Colorado lacked the investments to develop their mines and warned against investing in the Sunshine Mines. Similar stories that ran without real evidence of their veracity led to the loss of stock values. Those likely responsible for the stories then bought up the worthless stocks before stories could break that gold and silver was indeed flowing from the mines.
——-
Investing in mining stock was indeed a hazardous industry on the Eastern seaboard, due to the rampant fraud, while highly profitable in Colorado where investors had access to first-hand information. The Denver mining and business community had good cause to plan an exposition to set the country straight about their legitimate, honest efforts.” — Credited Source: Shevlin and Hyder
—————
Prior to acquiring this example for my personal collection, I was able to trace its last sale to the Heritage Auctions “Summer FUN US Coins Signature Auction - Orlando #1207” which ran from July 10th-14th, 2014. Although I did not partake in this auction personally, I was able to send an offer to the original buyer via the Heritage “Buy It Now” program in December of 2022. Thankfully, the offer was accepted. Had it not been, I think my search would have continued for years due to the sheer rarity of this medal. Therefore, I certainly feel fortunate to have a problem-free example in this collection.
—————
Extremely rare so-called dollar. Minimal information previously existed on this issue, which was neither listed in the 1st or 2nd edition of Hibler and Kappen’s So-Called Dollar guides. However, the issue has now officially been cataloged by Jeff Shevlin and Bill Hyder in their revised 2023 so-called dollar guide. The catalog number will officially be SH 3-41 WM. — Additionally, it appears this medal was already cataloged by Rulau under R-CO-DE-6 which NGC had an entire population report for. Yet, as of January 2023, NGC appeared to have completely decommissioned/purged all Rulau population data. Medal descriptions were still listed, but there was unfortunately no data. — UPDATE: As of April 2023, Rulau census data now appears to be back. Originally, this medal was simply listed as “1882 CO (WM) NATL MINING & INDUSTRIAL 40mm” by NGC; no reference given. I emailed NGC providing all the detail/information they’d need to associate the reference which they officially accepted! The description for the medal now reads, “1882 DENVER R-CO-DE-6, NAT'L MINING & INDUSTRIAL EXPOSITION CO.” This is a big win, as this is now the ONLY graded example listed by NGC under R-CO-DE-6 and is officially at the top of the population report!
—————
There was “one” more related issue from the same expo shown here with the catalog number Rulau-CO-DE-5 or SH 3-42 WM “National Mining Arm & Hammer SCD”. Just one number below/above this issue (Rulau and SH, respectively). Another extraordinarily rare issue that finally came to auction in February of 2023 via Heritage. It is very likely these are the only 2 issues from the 1882 National Mining and Industrial Expo of Denver, CO. UPDATE: Since the release of Shevlin/Hyder’s 2023 SCD guide, this fact is confirmed. Although I persistently tried to win the NGC MS-62 example, it ended up selling for $720 including BP during the live bidding phase of the auction (which was a bit out of my price range for this issue at the time). Very unfortunate considering it would have made a great addition to this collection. HOWEVER, in an amazing, lucky, plot twist turn of events, I get an email from Heritage on 4/11/23, roughly 2 months after the sale in auction. Heritage advises the winning bidder was unable to complete the transaction and I’d be given an “underbidding offer” based on coming in second. I advised I absolutely was! Subsequently, the medal will soon be in my collection! To own “both” of these issues is an extremely challenging feat that adds significant historical and monetary value to this collection, as Shevlin/Hyder have determined the issue to be an R8. Both issues are as follows:
- 1882 Rulau-CO-DE-5 & SH 3-42 WM “National Mining Arm & Hammer SCD” (NGC MS-62) — R8
- 1882 Rulau-CO-DE-6 & SH 3-41 WM “National Mining & Industrial Exposition Official SCD” (NGC AU-53) — R6
DESIGNER: N. Matson & Co.
CATALOG NUMBER(S):
- SH 3-41 WM
- Rulau-CO-DE-6
RARITY: Total struck: Unknown
(*TOP POP* 1 NGC Pop = 1; NONE Finer) [04/2023]
Rarity Level 6 = ~21-75 Known - Designated "Rare” to “Very Rare”
SO-CALLED DOLLAR DESCRIPTION:
(White Metal, 40.16mm, 18.10g, Round, Plain Edge)
OBVERSE: Denver / (Depiction of Rocky Mountains) / Colorado
REVERSE: Natl Mining & Industrial / Exposition / N. Matson & Co. Chicago. / 1882 / Denver, Colorado.
HISTORICAL BACKGROUND:
(National Mining and Industrial Exposition, 1882, Denver, CO):
“The National Mining and Industrial Exposition opened August 1, 1882 at the corner of South Broadway and Exposition Avenue in Denver, Colorado, exhibiting mining and industrial equipment and resources. The buildings were removed after the third annual exhibition in October, 1884. Long, white tents and covered wagons stood in front of the complex near a railroad track.” — Credited Source: DPL Western History Collection C-94