1903B Straits Settlements One Dollar Incuse Mintmark MS65

 

In the coin section, this 1903B Straits Settlements One Dollar graded with MS65 by NGC is stealing the limelight in the Trigometric June 2021 Auction. 

Their highlights introduction is Facebook Page as below,

Highlighting an extremely rare lot in Trigo’s upcoming JUNE 18-20 Auction.

1903B Straits Settlements, 1 Dollar

Incuse Mintmark

MS65

The 1903B is much scarcer than 1904B. Extremely Rare to be in this high grade.

Truly fascinating to know that Straits Settlements Silver Dollars were first minted in 1903 to replace then British, Mexican and Hong Kong Dollars.

The purpose of this action was to create a separate exchange value for the new Straits dollar as compared with the other silver dollars that were circulating in the region, notably the British trade dollar. The idea was that when the exchange value had diverged significantly from that of the other silver dollars, then the authorities would peg it to sterling at that value, hence putting the Straits Settlements unto the gold exchange standard. This pegging occurred when the Straits dollar reached the value of two shillings and four pence, against sterling.

Within a few years, the value of silver rose rapidly such as to make the silver value of the Straits dollar higher than its gold exchange value. To prevent these dollars from being melted down, a new smaller dollar was issued in 1907 with the same design, but reduced silver content.