1853 Crystal Palace, Ty.2, Silver So-Called Dollar MS HK-7 Values

Details

Purpose: To exhibit "industry of all nations for...comparison, competition, instruction and encouragement."

Organization: First "International" exposition held in United States. Following 1851 London Crystal Palace Exhibition, New York group, including Horace Greeley, chartered "The Association for the Exhibition of the Industry of all Nations"; built Crystal Palace at cost of over $600,000. No direct grants from city or state but former did lease ground free for five years from 1852 on condition that (1) building be "chiefly of iron and glass," (2) admission fee not exceed 50 cents. Federal government provided "neither financial support nor official sanction" but charged no duty on goods imported for exhibition purposes, which practice still prevails today.

Site, Dates: South side 42nd Street between 5th and 6th Avenues to west of present New York Library, known as Reservoir Square; now Bryant Park. First exhibition opened July 14, 1853; ran intermittently until Oct. 5, 1858 when building was destroyed by fire.

Comment: Construction openly copied London's Crystal Palace on smaller scale (about 200,000 sq. ft., including annex vs. 750,000 sq. ft.); critics described as "an exaggerated greenhouse." Despite lack of Federal support, U.S. President Franklin Pierce and Secretary of War Jefferson Davis attended opening where 23 foreign countries were represented among 4,800 exhibitors. Domestic emphasis was on machinery; first passenger elevator and first sewing machine displayed. Enterprise was financial failure; P. T. Barnum elected president in effort to solve difficulties. He was unsuccessful but stated "general prosperity of the city had been promoted far beyond cost of entire speculation." When fire destroyed structure Oct. 5, 1858, there was no effort to rebuild.

Medals: All issues proved difficult to research. Types I and III, at least, probably were of official nature, perhaps sold within Palace during exhibitions. Today, all four medals are extremely rare.

TYPE I--1853 DOLLAR

Engraved by Charles Stubenrauch, formerly a mint engraver in Darmstadt, Germany.

Obverse:

Liberty seated, facing l.; on ribbon below, small C. Stubenrauch St Louis Mo.; below 1853--all within center circle; outside, around In Unitate Nationum Scientia Artesque Florebunt * (translation: "In unity, the science, arts and wisdom of a nation will flourish."); beaded border.

Reverse:

Edifice; above New York Crystal Palace; below edifice, on ribbon, small Desig by Cartsensen & Gildemeister; below For the exhibition of / the industry of / all nations; beaded border.

Source: So-Called Dollars, by Hibler-Kaplan (HK)