Lesher Dollar Thread

DCW

Hey gang,
Thought it would be pretty cool to start a thread about Lesher Referendum Medals, one of my favorite designs in US coinage. Around 1900, Joseph Lesher of Victor, Colorado minted these coins to promote silver in this mining town. In doing so, he introduced an alternative to US coinage, which was in short supply in the Old West. He believed in them so much that he agreed to redeem them for $1.25, which was worth more than their silver content (about 1oz.) Well, they became very popular and few returned them. Storeowners had their names imprinted on them for use at their establishments in exchange for goods and services. Coining your own "money" was (and still is) frowned on by Uncle Sam, and Lesher's dies were ultimately confiscated by government authorities.
A century later, these strange and beautiful octagonal tokens of a bygone era are some of the most collectable of all "so called dollars." A tangible link to the west with a gorgeous depiction of Pike's Peak. I love the scenery on this coin... life humming merrily along the track laid mountain; the miners pushing their carts and the refineries exhaling plumes of smoke. You can almost feel the brisk Colorado air.
Here are my Leshers Dollars, all PCGS AU55's. Enjoy:







Please share your Leshers here...

LanceNewmanOCC

.
.
it is quite amazing to me that they felt the need for these in 1900, not 1850, not 1780, 1900!

Really makes it sink home just how short a time we've had this "civilized" society.

great story and plenty of irony
.
.

ricko

Very interesting... was not familiar with these...Cheers, RickO

DenverDave

Very Nice, Thanks for Sharing...

rawmorgan

I like them, but they don't seem to come up for sale often. I saw one on ebay recently but it had a chunk taken out of it.

Thanks for sharing

kranky

Always did think they were very cool. Did anyone ever determine the mintages and number of surviving examples?

OldEastside

Those are cool

Steve

keoj

Nice!! A couple of years ago I contemplated starting a collection (but stuck with Trade Dollars solely). There was, I'm not sure if its still there a great article on the ANA websiite.

Address is in the 2nd or 3rd message in the thread....

http://forums.collectors.com/messageview.cfm?catid=26&threadid=171448&highlight_key=y&keyword1=Lesher

Hope that it's still there. It was a great article on types and rarity of these great coins? medals?

keoj

goldbug

It's nice to see another Lesher Dollar collector out there. The only problem is that they are very, very difficult to find. Probably no more than 600 or so of all types out there. Happy collecting.

Bill

PerryHall

Very neat coins or would these be considered tokens? How much do the more common varieties cost?

dcarr

<< <i>Very neat coins or would these be considered tokens? How much do the more common varieties cost? >>



I remember going to coin shows in the Denver area in the mid 1970s.
There were several available at the time for about $25 each.
I wanted one, but $25 was a lot of money for a poor high school kid.
Even so, I seriously thought about buying one.
But then there was the sentiment expressed by many dealers that
since they weren't official US coins, they were junk.

LostSisler

These are the best! I've held around 60 of these and been to his home, and seen the press used to make them! Great story!

PerryHall

I imagine much of their popularity (and hence value) is due to the fact that they are listed in the Red Book.

DCW

I think the appeal comes from their beauty and rarity, though inclusion in the red book certainly doesn't hurt. So does anyone have any leshers to contribute to the thread???

cadmanco

Here is a very thorough website that tracks Lesher Dollars... this guy owns the most complete collection known.
I only own two...

http://www.lesherdollars.com/

Also, I have seen the Lesher House, which currently is now motorcycle restoration shop??? I did not know the presses these were made on still exist?? Where are they located??

DCW

For those interested, my collection of Leshers in this post is listed on the BST.
Thanks and happy collecting.

kiyote

<< <i>I imagine much of their popularity (and hence value) is due to the fact that they are listed in the Red Book. >>



Bingo-- I can remember as a kid looking at them and wondering what the heck they were... which meant I wanted one.

Thanks for sharing that, DCW!

mkman123

Interesting, never knew abt them but are they popular? Seems like they aren't as highly desired?

DCW

Very popular and highly desired, but very very scarce and expensive, too.

Author1

very cool

Weiss

So cool to see DCW's thread still being referenced years after he wrote it. Especially today...

I'm the current custodian of his Slusher #75 piece. And just yesterday I received in the mail a counterpart to the Lesher dollars, an ugly little cuss called the Pedley-Ryan SCD #825.

It too comes from Colorado, minted of native silver purchased from the Denver mint.

Unlike the beautifully crafted Lesher piece, it's 100% utilitarian. It was made not to be spent, but to allow the small investor to buy and trade an ounce of pure silver. It was arguably the first modern bullion round.

johnny9434

thats pretty cool stuff.

Weiss

TheBigB

This is as close as I can get.

OldEastside

<< <i>

<< <i>Very neat coins or would these be considered tokens? How much do the more common varieties cost? >>



I remember going to coin shows in the Denver area in the mid 1970s.
There were several available at the time for about $25 each.
I wanted one, but $25 was a lot of money for a poor high school kid.
Even so, I seriously thought about buying one.
But then there was the sentiment expressed by many dealers that
since they weren't official US coins, they were junk.
>>



I love this referance........makes you think, whats out there now that has even a slim chance at that kind of appreciation

Steve

dogwood

These are wonderful. Really well done and substantial!
Vintage Colorado in general is a tough to find.
Everyone should take the trip to the Pikes Peak summit!

Zoins

<< <i>

<< <i>

<< <i>Very neat coins or would these be considered tokens? How much do the more common varieties cost? >>



I remember going to coin shows in the Denver area in the mid 1970s.
There were several available at the time for about $25 each.
I wanted one, but $25 was a lot of money for a poor high school kid.
Even so, I seriously thought about buying one.
But then there was the sentiment expressed by many dealers that
since they weren't official US coins, they were junk.
>>



I love this referance........makes you think, whats out there now that has even a slim chance at that kind of appreciation

Steve >>



You have to be a contrarian for this type of collecting. Buy things that are out of favor today that has some kind of chance of becoming more popular.

Zoins

<< <i>This is as close as I can get.


>>



One of these just sold on the bay for $150 so prices are going up. The description was informative as I didn't know QDB purchased the house and donated it to the ANA. There's also another ANA-related Lesher Dollar that was given only to ANA employees on the bay at the moment.



<< <i>You are bidding on a 1.0 ounce Silver coin from the Joseph Lesher House in Victor, Colorado. These are becoming pretty scarce as I understand it. This is NOT an original Lesher referendum dollar. This is a souvenir from the Lesher House Restoration project that took place at Victor, Colorado during the 1980s. The house where Lesher lived while promoting the referendum dollars was sold to Q. David Bowers in 1980. He then donated it to the ANA but it was in need of about $30,000 to fix it. 1,000 of these were struck and sold to make up for the cost. The reverse of this souvenir coin is a reproduction of the second reverse variety of the Bumstead variation of the original Lesher dollars. The Bumstead type were the second type produced.

The obverse is where you can really tell the difference between the original Leshers and this souvenir coin (for a reason). If you are a collector, or just getting started, this is a very nice one to have. With the Cresson Project tearing up everything in sight, these coins (Cripple Creek in general) are becoming more and more precious. Bid now before it's too late! >>

LanceNewmanOCC

images STILL in a thead from 2011 and it is a good thread AND i haven't really bumped an old thread of DCW, so here it is...

Zoins

@LanceNewmanOCC said:
images STILL in a thead from 2011 and it is a good thread AND i haven't really bumped an old thread of DCW, so here it is...

Thanks for bumping this! Leshers are great!

I only have one right now. I need to do a write up on it.

Zoins

Does anyone know where Joseph Lesher's mine is? Has anyone visited?

David Lawrence RC said:
Joseph Lesher, born in 1838, moved to Colorado to work as a silver miner after serving in the Civil War. He came to own a silver mine in the area which was profitable until silver values fell in 1892, which forced the mine to shut down.

With a dormant mine on his hands, Lesher became interested in the possibility of minting coins for local use. By 1900, he had successfully set up a private mint and began to produce octagonal dollars.

Ref: https://blog.davidlawrence.com/leshers-so-called-dollars/

Here are the two Lesher Dollars from the Broad Bay Collection linked from the article.

• Catalog: HK-796, Zerbe-10
• Cert: https://www.pcgs.com/cert/38180162
• Sale: https://www.davidlawrence.com/rare-coin/2072664
• Pedigree (Adna Wilde Census): IND Coin Grading (info from J.P. Martin, 7/23/2001

• Catalog: HK-795, Zerbe-9
• Cert: https://www.pcgs.com/cert/37514140
• Sale: https://www.davidlawrence.com/product/2072663
• Pedigree (Adna Wilde Census): unlisted

DCW

Blast from the past! Thanks for bringing this to the top, and I see some of the old gang is still around to talk about the subject 11 years down the line.
Coincidentally, over the last year or so I've seen so many Lesher Dollars for sale. Odd, because they really do come up so infrequently that it's hard to keep interest in collecting them.
I still love the design! I'll pick one up again someday, but the prices are just insane right now.

Zoins

@DCW said:
Blast from the past! Thanks for bringing this to the top, and I see some of the old gang is still around to talk about the subject 11 years down the line.
Coincidentally, over the last year or so I've seen so many Lesher Dollars for sale. Odd, because they really do come up so infrequently that it's hard to keep interest in collecting them.
I still love the design! I'll pick one up again someday, but the prices are just insane right now.

There always seems to be a handful on the bay so I don't feel that it's that dry.

I am interested in hearing how people collect these, whether it's to get a complete Zerbe type set or another way.

dcarr

@Zoins said:

@DCW said:
Blast from the past! Thanks for bringing this to the top, and I see some of the old gang is still around to talk about the subject 11 years down the line.
Coincidentally, over the last year or so I've seen so many Lesher Dollars for sale. Odd, because they really do come up so infrequently that it's hard to keep interest in collecting them.
I still love the design! I'll pick one up again someday, but the prices are just insane right now.

There always seems to be a handful on the bay so I don't feel that it's that dry.

I am interested in hearing how people collect these, whether it's to get a complete Zerbe type set or another way.

According to the HK reference there are five different varieties that are unique. So that makes it quite difficult to assemble a complete set of all varieties.

Three of those five are hand-engraved "imprints". I discount those somewhat since anybody could acquire an imprint-type Lesher that lacks an imprint (which is scarce but occasionally available) and hand-engrave whatever they want on it.

The five unique variations:

HK-1016 (Zerbe-17) "Trademark Applied For" (unique, pattern);
HK-790a (Zerbe -) "Bank" type without serial number (unique without serial number, very rare with serial number [Zerbe-4]);
HK-1020 (Zerbe-15) "H. Stein" (unique, imprint type with hand engraving);
HK-1021 (Zerbe-16) "H. H. Rosser" (unique, imprint type with hand engraving);
HK-1021a (Zerbe-18) "A.W. CLARK / DRUGGIST / DENVER, COLO." (unique, imprint type with hand engraving).

And there are two more listed as R-9:
HK-795a "Geo. Mullen" without serial number;
HK-1019a "W.F. White Merc. Co" without serial number.

There is another listed hand-engraved version wich is very rare, but not unique:
HK-1017 (Zerbe-12) "GOODSPEED & CO / 26 PIKES PEAK AVE".

At least four of the five unique pieces probably won't be coming up for sale any time soon.

My goal is to get one each of the stamped imprint types plus the other non-unique non-imprinted types.
I still need three (and they are quite expensive and rarely available).

PS:
PCGS Population Report lists one (AU50) "1900 Lesher $ / Life Saving Medal" (PCGS # 19201). I have not seen that, nor do I know anything about it. It is not listed in the HK So-Called Dollar reference.

Zoins

@dcarr said:

@Zoins said:

@DCW said:
Blast from the past! Thanks for bringing this to the top, and I see some of the old gang is still around to talk about the subject 11 years down the line.
Coincidentally, over the last year or so I've seen so many Lesher Dollars for sale. Odd, because they really do come up so infrequently that it's hard to keep interest in collecting them.
I still love the design! I'll pick one up again someday, but the prices are just insane right now.

There always seems to be a handful on the bay so I don't feel that it's that dry.

I am interested in hearing how people collect these, whether it's to get a complete Zerbe type set or another way.

According to the HK reference there are five different varieties that are unique. So that makes it quite difficult to assemble a complete set of all varieties.

Three of those five are hand-engraved "imprints". I discount those somewhat since anybody could acquire an imprint-type Lesher that lacks an imprint (which is scarce but occasionally available) and hand-engrave whatever they want on it.

The five unique variations:

HK-1016 (Zerbe-17) "Trademark Applied For" (unique, pattern);
HK-790a (Zerbe -) "Bank" type without serial number (unique without serial number, very rare with serial number [Zerbe-4]);
HK-1020 (Zerbe-15) "H. Stein" (unique, imprint type with hand engraving);
HK-1021 (Zerbe-16) "H. H. Rosser" (unique, imprint type with hand engraving);
HK-1021a (Zerbe-18) "A.W. CLARK / DRUGGIST / DENVER, COLO." (unique, imprint type with hand engraving).

And there are two more listed as R-9:
HK-795a "Geo. Mullen" without serial number;
HK-1019a "W.F. White Merc. Co" without serial number.

There is another listed hand-engraved version wich is very rare, but not unique:
HK-1017 (Zerbe-12) "GOODSPEED & CO / 26 PIKES PEAK AVE".

At least four of the five unique pieces probably won't be coming up for sale any time soon.

My goal is to get one each of the stamped imprint types plus the other non-unique non-imprinted types.
I still need three (and they are quite expensive and rarely available).

PS:
PCGS Population Report lists one (AU50) "1900 Lesher $ / Life Saving Medal" (PCGS # 19201). I have not seen that, nor do I know anything about it. It is not listed in the HK So-Called Dollar reference.

Very good info. I have one Lesher now and, to extend the set, I would collect by die marriage. I realized that both counterstamps and hand engravings can be rare, but that seems challenging as you mention. I would focus on eye appeal and toning.

Regarding the merchants, the following is for So-CalledDollars.com:

Merchants who used the Referendums: A. B. Bumstead, Victor, CO, grocer; J. M. Slusher, Cripple Creek, CO, grocer; Sam L. Cohen, Victor, CO, jeweler; David W. Klein, Pueblo, CO, retail liquor dealer; George Mullen, Victor, CO, shoemaker; Boyd Park, Denver, CO, jeweler; W. C. Alexander, Salida, CO, jeweler; Goodspeeds & Co. (L. C. Goodspeed), Colorado Springs, CO, jeweler; J. E. Nelson & Co., Holdrege, NE, clothiers; W. F. White Mercantile Co., Grand Junction, CO, clothiers; H. Stein, believed to be a Canon City, CO, clothier; H. H. Rosser, Victor, CO, stationer and confectioner; and C. W. Thomas, Florence, CO, jeweler. Thomas is reported to have used the pieces, but none has been found with his name imprinted on it.

The Stein and Rosser pieces, which have names engraved, were unknown to Zerbe. Believed to be unique, they may have been engraved by or for Stein and Rosser or by someone else. John J. Ford, Jr., student of the Leshers, has written, "A limited number of business people cooperated with Joseph Lesher. Most of them issued only a few pieces, and others merely played with them, imprinting or engraving only samples. The Referendums were accepted as money in Cripple Creek, Colorado City, Colorado Springs, Victor, and most likely, even in Denver. They also had a limited circulation in Pueblo, but in some places their only use was as trade premiums, or as items for sale as novelties.

Ref: https://www.so-calleddollars.com/Events/Lesher_Dollars.html

DCW

I would sell a kidney for the "Trademark Applied For" or bank type.
Would probably sell both my kidneys for an example of each 😆

Zoins

@DCW said:
I would sell a kidney for the "Trademark Applied For" or bank type.
Would probably sell both my kidneys for an example of each 😆

Okay, now I know what to do if I ever need a kidney... or two!

DCW

Damn, this thread is getting me itching to buy another Lesher
I just love these damn things...why are they so expensive?

DCW

Gorgeous piece @Zoins . Can you find me the trueview of the Bank type?

I'm going to have to settle for one of @jmlanzaf 's virtual collections

Zoins

@DCW said:
Damn, this thread is getting me itching to buy another Lesher
I just love these damn things...why are they so expensive?

Can you satisfy your itch with one of Dan's?

DCW

@Zoins said:
Can you satisfy your itch with one of Dan's?

Nope.
I gotta stay original

DCW

Here are some more varieties that @dcarr mentioned:
_



_

Zoins

@DCW said:
Gorgeous piece @Zoins . Can you find me the trueview of the Bank type?

Here you go!

DCW

Thanks @Zoins

Love that bank type. I tried to buy it once when a collection went on sale about 8 or 9 years ago. But it went for 20 grand or so.

Zoins

@DCW said:
Thanks @Zoins

Love that bank type. I tried to buy it once when a collection went on sale about 8 or 9 years ago. But it went for 20 grand or so.

20 grand is a lot! I might need to be satisfied with my single Lesher!

Zoins

@DCW said:

@Zoins said:
Can you satisfy your itch with one of Dan's?

Nope.
I gotta stay original

Have you thought of getting one of Dan's and having your own name stamped/engraved on it?

DCW

@Zoins said:

@DCW said:

@Zoins said:
Can you satisfy your itch with one of Dan's?

Nope.
I gotta stay original

Have you thought of getting one of Dan's and having your own name stamped/engraved on it?

No, but I have thought of getting an original one and having an artist engrave my name in some old school calligraphy!

Zoins

@DCW said:

@Zoins said:

@DCW said:

@Zoins said:
Can you satisfy your itch with one of Dan's?

Nope.
I gotta stay original

Have you thought of getting one of Dan's and having your own name stamped/engraved on it?

No, but I have thought of getting an original one and having an artist engrave my name in some old school calligraphy!

I think the "Trademark Applied For" type is right up your alley for that!

Aegis3

@dcarr said:

PS:
PCGS Population Report lists one (AU50) "1900 Lesher $ / Life Saving Medal" (PCGS # 19201). I have not seen that, nor do I know anything about it. It is not listed in the HK So-Called Dollar reference.

I assume we are referring to this piece.

Zoins

@Aegis3 said:

@dcarr said:

PS:
PCGS Population Report lists one (AU50) "1900 Lesher $ / Life Saving Medal" (PCGS # 19201). I have not seen that, nor do I know anything about it. It is not listed in the HK So-Called Dollar reference.

I assume we are referring to this piece.

Great find @Aegis3! And thanks for pointing this out @dcarr!

Goldberg said:
Lot 3533

1900 Lesher Referendum "Dollar" converted into a "Life Saving Medal", Extremely Fine. Beautiful silver-gray and lilac toning on both sides. A unique and highly desirable variant of the 1900 Lesher Referendum "Dollar" (actually, with a stated value of $1.25), with the lower half of the obverse tooled off and engraved "Life Saving Medal / For Yen / From Crew of 1900." For more information on Lesher "Dollars", visit page 310 of the 2004 Red Book. This is by far the most interesting and unusual Lesher variant we have ever seen. We'd be curious to know if any of our readers know who Yen or the "Crew of 1900" are! Estimated Value $2,000 - 2,250

Realized $2,530

Zoins

Here's the catalog entry from the 2004 Goldberg's sale, hosted by NNP!

https://nnp.wustl.edu/library/auctionlots?AucCoId=7&AuctionId=491&page=420