1900 Silver Lesher Dollar HK-787, A.B. Bumstead

Coin Details

Description

This Lesher Referendum Dollar (HK-787) is a privately issued silver dollar produced by Joseph Lesher of Victor, Colorado, in the heart of the Cripple Creek mining district. This is the initial type, sold directly by Joseph Lesher himself. The Lesher Referendum Dollars are cataloged from HK-787 through HK-797 and HK-1016 through HK-1021 in the Hibler-Kappen reference. With approximately 20 varieties including sub-varieties, every Lesher Dollar is genuinely rare. Robert D. Leonard Jr., Ken L. Hallenbeck, and Adna G. Wilde Jr. published the definitive modern study 'Forgotten Colorado Silver: Joseph Lesher's Defiant Coins.' Joseph Lesher died at his home in Victor on July 4, 1918, but his coins endure as prized specimens among so-called dollar specialists and Western Americana enthusiasts. Lesher's private coinage operated in a legal gray area regarding the federal government's monopoly on currency issuance. According to his 1914 interview with Farran Zerbe (1871-1949), the legendary ANA figure, government agents seized the dies used for the initial and Bumstead types. However, the American Numismatic Society collection, donated by Zerbe himself (including 2 obverse dies, 1 reverse die, 2 punches, and 3 bed plates), complicates the seizure narrative. Zerbe published his account in the American Journal of Numismatics in 1917, and Lesher estimated his total production at 3,000 to 3,500 pieces. So-called dollars acquired their name because they are not true dollar coins but rather privately issued medals that approximate the size and weight of U.S. silver dollars. The collecting specialty emerged in the early 20th century and was formalized by the Hibler-Kappen catalog, which organized hundreds of diverse pieces — from exposition medals to political tokens to private monetary experiments — into a coherent collecting framework.

Rarity Notes

Lesher Referendum Dollars are rare across all varieties, with total mintage estimated at only a few hundred pieces per type. The A.B. Bumstead variety is among the more frequently encountered Lesher varieties, though still genuinely rare. These pieces are highly prized by collectors of both so-called dollars and Western Americana.

Cross References

HK-787; PCGS #643499