Watch List notes:

USA, "so-called dollar," silvered brass token, 1939 Golden Gate Expo, Piece of Eight / Treasure Island, engraved with date 1940. HK-485. 25.35 grams. Commemorative token from the Golden Gate International Exposition, held Feb. 18 to Oct. 29, 1939 and May 25 to Sept. 29, 1940. Obverse states "FACSIMILE OF PIECE OF EIGHT FROM TREASURE ISLAND, SAN FRANCISCO BAY, CALIFORNIA" and engraved "Henry / July 20, 1940." Reverse is based on the Spanish milled bust dollar with "TREASURE ISLAND," "S.F CAL.," and "1939" added. Hibler and Kappen suggest possibly 1,000 were struck for sale in 1939 but were delivered late, resulting in the sale of only 150 to 400 pieces at $1 each while the rest were melted. The late date on this coin appears to back up that theory of a late delivery during the second half of the fair. AU with some scattered marks and brass showing through silver wash on pillars and rims. (Estimate: $400 - 600)