1883 Hawaiian Eighth Dollar, "Lazy 8" variety. ANACS graded Proof 58. The surfaces of this coin appear to be more like a mint state coin than that of a proof. As to a denomination, this is a "bit" or half a quarter. Hence, all those "two bits" jokes and comments we've always heard. Apparently, the denomination failed and the coins were not struck in quantity. Known as the "Hapawalu" in Hawaii, these have always been very popular with collectors for the curious denomination and rarity. In fact, as this coin demonstrates, early on there were restrikes made to satisfy collector demand. An original struck in silver of this coin is listed in the Guide Book for $30,000. It is unknown how many were made, obviously not many as these are seldom seen in numismatic channels, and are far more affordable for the Hawaiian specialist than the silver issues.
Although not listed in Don Medcalf's Hawaiian Money Standard Catalog he does state that "...the following were not authorized by the Hawaiian government, nor were they struck in 1883 or 1884" These eighth dollar with "lazy 8s" were struck in copper, nickel, bronze, gold and platinum. The issuer has not been determined, nor the time that these were struck. All we do know is that they are highly prized by Hawaiian collectors and have been recorded in different collections for decades. Once of numismatics unsolved mysteries.
Estimated Value $2,500-3,000.
This appears to be the coin from Superior Stamp & Coin Co's February 1999 sale, lot 1510, as the toning specks look identical.
