1869 HK-12, Pacific Railway Dollar

Coin Details

Auction Record

$1,440 MS65BN 03-29-2023 Stack's Bowers

Description

HK-12 is a 1869 so-called dollar commemorating Pacific Railway. Governor DeWitt Clinton's 1825 'Wedding of the Waters' ceremony — pouring Lake Erie water into New York Harbor — celebrated the Erie Canal's 363-mile route from Albany to Buffalo, the engineering marvel that reduced western freight costs by over 90 percent. The bronze composition of this piece reflects the medallic tradition dating to classical antiquity. Bronze so-called dollars typically survive in better condition than white metal examples due to the alloy's greater hardness and durability. Early commemorative medals were produced in small quantities by private die sinkers, with white metal and copper being the most common compositions. Distribution was typically limited to event participants and subscribers. The Hibler-Kappen catalog, first published in 1963 by Harold E. Hibler and Charles V. Kappen, systematically organized American so-called dollars for the first time, assigning HK numbers that remain the standard reference today.

Rarity Notes

HK-12 is scarce in the numismatic market. Production quantities for post-Civil War era commemorative medals were typically modest, and survival rates vary significantly based on the original distribution method and the material's durability.

Cross References

HK-12; PCGS #642035; NGC #850021