1881 Chester A. Arthur Indian Peace Medal. Copper, Bronzed. Julian IP-45, Prucha-56. MS-65 BN (NGC).
76 mm x 59 mm, oval. Rich reddish-brown surfaces with pale green and gold overtones through the generously prooflike fields. A couple of tiny marks are noted, but none is really distracting. This is a really lovely example of this very seldom offered medal, particularly when so nice. These seem to appear in our sales every couple of years, or so, but only two of those in our online archives could really be seen as equals to this, and both were offered raw. This is the highest grade example we have offered in a third-party holder. The unusual dark bronze Charles Wharton specimen realized $7,050 in our August 2013 sale, while another called "Choice Mint State" brought $3,525 in our March 2016 sale. There seem to be only three silver originals known, and the only one in private hands realized $97,750 in our (Stack's) October 2006 Ford Sale, Part XVI. As prohibitively rare as the silvers are, and as scarce as nice bronzes are, the noted price realizations seem "cheap." This is a very tough design and only a couple of collectors can hope to own one this nice. It is believed that just five original silver Arthur medals were struck for presentation to Native Americans. As to the bronzes, 37 are reported to have been struck by the Mint in the fiscal year ending August 1, 1883. Five more were ordered in 1885. It seems probable that the lone dark mahogany bronze one we have seen, referenced above, was among the 1885 issuance, as this is the normal finish for these medals.

Estimate: $4000