SALE I -- SESSION THREE
Sunday Evening, May 9, 6:00 PM Sharp
Colonial and United States Coins: Lots 2001-2067
Private and Territorial Gold Coins: Lots 2068-2073
Numismatic Americana: Lots 2074-2199
World Coins and Medals: Lots 2200-2255
California Small Denomination Gold: Lots 2501-2802
Colonial Coins
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2001 1791 Washington President cent. Small Eagle. Breen-1217, Baker-16, Dalton & Hamer-1050, Middlesex. MS-63 BN. Copper. Lettered edge. A lovely representative of the variety, a coin with satiny brown surfaces that display splashes of mint red in the recessed areas. Sharply struck with even the finest design details crisply rendered. A pleasure to behold.
Weight: 190.4 grains. Diameter: 30.2 mm.
From Stack's sale of May 1974, Lot 118.
Incredible Mint State
Washington Born Virginia Copper
Among the Finest Known
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2002 Undated WASHINGTON BORN VIRGINIA copper. Breen-1239, Baker-60. MS-60 BN PL. Copper. Plain edge. Medium brown with areas of mahogany on both sides. A hint of olive is also seen, mainly on the reverse. The surfaces are hard and glossy, chiefly prooflike, with an absolute minimum of detectable marks. A decidedly stunning example of this popular rarity, one that stands head and shoulders above most known specimens of the type. This issue is usually encountered in VG to Fine, with an occasional foray into the VF range; a Mint State specimen such as this is a practically unheralded event in the numismatic marketplace. Called Rarity-6 in Medallic Portraits of Washington, 2nd Edition, where it was estimated "About 40-50 known;" this specimen is certainly among the finest examples extant of this important prize. After being "off the market" for 25 years, we expect that specialists in the field of colonial coinage and Washingtonia alike will greet this lovely rarity with a round of enthusiastic bidding activity.
Weight: 174.1 grains. Diameter: 30.8 mm.
Second reverse die, with the 5 of the date directly under the N of AMERICAN.
This piece is attributed to the repertoire of John Gregory Hancock, coin dealer, engraver, and medallist, perhaps best known for his 1792 "Roman Head" cent, but recognized for many other issues.
For a number of years it was thought that these pieces were from the shop of Jacob Perkins of Newburyport, MA, but Walter Breen had stated that the letter punches are identical to those used by Hancock at the British shop of Obediah Westwood, prolific issuer of conder tokens. Perhaps Walter Breen went out on a limb, or at least envisioned a scenario that sounds convincing, but what may be imaginary:
"This leaves the pieces with descriptions on the reverse and/or the BORN VIRGINIA OBVERSE as medals, but as they were not fancy enough to please British token collectors, they were dumped into a keg and sent to the United States of America (probably mixed with other coins-Ship halfpennies?) as one more cask of 'Hard Ware' to circulate as cents. At 40 to the pound, a 10-cwt cask would have contained 4,480 pieces, only a fraction of that bore these designs. In the 1790s, federal cents were seldom seen, but the size of these Washington's surely means the two passed side-by-side. As federal cents were not legal tender, they had no advantage over lightweight imports; heavier ones would be hoarded, light ones spent as quickly as possible. Whatever their original purpose, Hancock's 1792 coppers stayed in circulation, as the rare survivors are almost all in low grades. The least rare (Breen-1239) must have been made in some quantity (the majority of the single keg?); its reverse die caved in, producing many survivors with central bulges. Its obverse was preserved (as the last of its kind?), brought over to Massachusetts by Jacob Perkins on one of his ocean crossings…"
It can be seen the traditional or conventional wisdom of this being a Perkins product is therefore tied together by Breen, although the present writer is quite sure that Breen had no knowledge of whether this piece was tucked in a kit bag or trunk by Jacob Perkins on an Atlantic crossing. Taken without study, the comment certainly sounds convincing!
Be all this as it may, the WASHINGTON BORN VIRGINIA issue has been well known for a long time, and has been very highly prized. As noted this specimen is superb in quality and commanding in interest and importance.
From Stack's sale of May 1974, Lot 137.
2003 1795 Washington Grate token. Large Buttons. Diagonally Reeded edge. Breen-1271, Baker-29, Crosby X, 16, D&H-283a Middlesex. MS-64 BN PL. Copper. The mahogany brown surfaces are smooth and somewhat reflective and display whispers of mint red in the recessed areas. Sharply struck. A die break is seen through THE FIRM on the obverse, and several letters in the legends there are repunched, typical for this issue.
Weight: 147.7 grains. Diameter: 28.7 mm.
Called the Grate token, this popular bit of Washingtonia is avidly collected by American coin specialists due to its portrait featuring the Father of Our Country. The token was issued in London as part of the Conder series (named for James Conder, who wrote a book on such tokens), and advertises the firm of Clark & Harris of 13 Wormwood Street, Bishopsgate, London, a manufacturer and seller of ironware and other metal items. The reverse of the token advertises a fireplace grate, no doubt one of their largest selling products.
2004 Undated (1795) Washington Liberty and Security penny. Breen-1254, Baker-30, D&H-243, Middlesex. MS-63 BN. "Asylum" edge. An attractive specimen with olive and gold toning highlights. Always popular as one of the largest and most handsome pieces associated with Washington during this era.
Weight: 302.4 grains. Diameter: 33.5 mm.
The edge is AN ASYLUM FOR THE OPPRESS'D OF ALL NATIONS, reflective of America as a refuge for displaced Frenchmen, Englishmen, and other European citizens during the era. Certain inscriptions on these and other tokens of the era, struck in England, are especially curious inasmuch as England was at war with the United States until 1781 (or the treaty date, 1783) and again 1812-1814.
From Stack's sale of May 1974, Lot 131.
2005 Undated Washington SUCCESS TO THE UNITED STATES token. Breen-1287, Baker-265. MS-60. Brass. Large diameter. Plain edge. Lustrous with an iridescent olive-gold sheen on both sides. Breen's "Bob Hope" variety; Washington's proboscis seems to have had a later counterpart in that of the famous comedian. Typically seen state of the obverse with a die crack that extends from the rim at 11:00, through the back of Washington's head, across his face, and from there to the rim at 3:00. Always popular, an attraction whenever offered.
Weight: 75.4 grains. Diameter: 25.1 mm.
From Stack's sale of May 1974, Lot 135.
2006 1796 REPUB. AMERI. Breen-1275, Baker-68, D&H-245 Middlesex. Proof-63 BN. Copper. Plain edge. Rich chestnut surfaces. A few tiny edge marks represent the only blemishes on this pleasing coin. Bust of Washington to right, his name above and date below on the obverse; reverse with his many accomplishments listed in three concentric circles around a beaded central circle. In the center is a caduceus with a crossed fasces and cannon; a scroll marked REPUB/AMERI is draped over the mentioned accoutrements, and is the source of this token's name.
Weight: 309.0 grains. Diameter: 33.0 mm.
No doubt Breen listed this in his Encyclopedia based on the premise that it was one of only a few dozen Washington pieces dated during Washington's lifetime (February 22, 1732 to December 14, 1799). Relative to Washington's birthday, before the calendar adjustment that moved everything forward 11 days, Washington was listed as having been born on February 11, 1732. Thus, later this year when we all semi-officially celebrate the millennium and Y2K, we will be celebrating it 11 days early-and it can be celebrated again on January 11, 2000.
From Stack's sale of May 1974, Lot 142
Large Cents
Marvelous 1804 Cent
An American Classic
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2007 1804 Sheldon-266. Original. EF-40, or finer. A splendid specimen with lustrous rich brown surfaces, called by us Extremely Fine when we offered it as Lot 602 in the Champa Collection sale 27 years ago in 1972, but today the piece could probably be called About Uncirculated without fear of contradiction. The piece is pristine and of extraordinarily high quality. A truly remarkable specimen of one of the great classics in the American cent series, indeed the most elusive, most desirable date of the 19th century.
The 1804 is far and away the most famous large cent issue of the early 19th century. Similar to the situation with the cents of 1799, the reported mintage of 756,838 coins in 1804 probably consisted of a large number of coins dated 1803. Probably not more than 1,250 large cents exist bearing the 1804 date. Assuming a survival rate of 2%, this would suggest an original mintage of 62,500 pieces. The Guide Book suggests an actual mintage of 96,500 coins, the quantity delivered on December 31, 1804.
Among the 1,250 (or whatever) cents that exist, the present coin is certainly in the top echelon.
From our sale of the Armand Champa Collection, May 1972, Lot 602.
Dimes
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2008 1839 MS-64. Lustrous satiny surfaces display splashes of gorgeous rose, violet, and lavender toning on the obverse, while the reverse displays even honey gray toning. A superb specimen for the grade, a coin that has been carefully preserved in the Harry Bass, Jr. Collection for decades. Sharply struck in all areas. We suspect some may call this MS-65 despite the few trivial marks that generated our MS-64 grade. Regardless of grade opinions, the beauty (and pedigree) of this coin speaks for itself.
From Lester Merkin's sale of October 1966, Lot 248.
2009 1880 MS-63. Rich lavender toning on lustrous surfaces. Certainly one of the rarest of the late dates in the series; its mintage of just 36,000 business strikes proudly proclaims its status as a desirable date. Somewhat reflective in the fields, not an unusual occurrence for a low-mintage business strike of any denomination.
From Lester Merkin's sale of October 1966, Lot 252.
Quarter Dollars
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2010 1873 No Arrows, Closed 3. MS-60. Lustrous lavender toning on the obverse, while the reverse is brilliant. From a fairly small mintage of 40,000 business strikes, and desirable as such, particularly in Mint State. An important opportunity at this grade level.
From RARCOA's sale of the Harry X Boosel "1873" Collection, April 1972, Lot 601.
Gem Mint State 1889 Quarter
2011 1889 MS-65. Richly toned in deep blue and rose. A sharply struck gem example of a popular low-mintage date; just 12,000 business strikes were produced. Gem Proof examples of this date (and the other low-mintage dates of the era, 1879-1889) are typically easier to locate than gem business strikes, and bidders tend to act accordingly when gem Uncirculated examples are offered for sale.
While Proofs of these low-mintage years are more obtainable than business strikes, it seems that the Mint set aside a supply of business strikes specifically for collectors, so that the dates would not become "rare." An explanation of this will be found in our Rare Coin Review No. 128.
2012 1892-O Barber quarter. Repunched 2 in date. MS-64. A satiny honey gold coin with strong lustre. Warm silver gray, gold, and light blue iridescent highlights deepen toward the rims. A virtually unimprovable specimen, at least within the confines of the assigned coin. The repunched 2 in the date is plainly visible under low magnification. Type II reverse, E in UNITED covered by the eagle's wingtip. A beauty by all accounts.
1892 quarters exist with the Type I reverse tip of E (UNITED) visible, and Type II, with the tip covered, is described above. Both varieties were made at all three mints this year.
Purchased from Julian Leidman, May 1972.
Half Dollars
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2013 1795 Overton-124. Rarity-5. Flowing Hair. VF-20. Satiny lilac-gray surfaces. Some light planchet adjustment marks on the reverse are the only marks worthy of mention. A nicely centered example of a scarce Flowing Hair half dollar variety.
In the third edition of Early Half Dollar Die Varieties 1794-1836, by Al C. Overton (edited by Don Parsley), the Condition Census for this variety is given as EF-45, VF-25, VF-20, F-15, VG-10.
Attractive 1815/2 Half Dollar
O-101a, Key Date of the Capped Bust Series
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2014 1815/2 O-101a. Rarity-3. Overdate. AU-55, or finer, perhaps far finer, especially in view of Hank Rodgers calling it Gem Uncirculated. The coin is quite well struck, nicely centered, and possesses a very attractive aspect. The surfaces are pleasing light gray accented with electric blue, magenta, gold, and other colors, with a generous amount of mint frost evident. By any accounting this is one of the highest grade 1815/2 half dollars to come on the market in our time, and when the element of aesthetic appeal is added, the piece emerges as a landmark in the series. Among all dates of Capped Bust half dollars 1807-1836, the date 1815/2 is by far the rarest.
Acquired through the Goliad Corporation from Hank Rodgers, April 16, 1975.
Proof 1836 Half Dollar
Capped Bust, Reeded Edge
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2015 1836 Reeded Edge. Proof-63 (PCGS). Very light gold toning over mirrored fields with minor hairlines evident. Traces of light blue toning are visible along the borders. Sharp central designs with some peripheral weakness, primarily among the obverse stars. These reeded edge half dollars were produced by steam power, the first of this denomination so treated. Mintage began on November 8, 1836 with several Proofs produced, in addition to a reported 1,200 business strikes. Originally, it was intended that the new steam-power half dollars would be of the Liberty Seated design much like the "new" Gobrecht dollars. Obviously, dies were not available and this design consisted of a modified Capped Bust, which continued in use into 1839.
Harry W. Bass, Jr. notes: Transitional piece, type adopted in 1837 under Act of January 18, 1837.
From our sale of the Terrell Collection, May 18, 1973, Lot 844.
Desirable 1844-O Blundered Date 50¢ Rarity
2016 1844-O Doubled Date. Breen-4775. AU-55. Lustrous golden gray surfaces with deep lilac-gray iridescence. The blundered date details are plainly evident to the unaided eye. This variety is highly desired in all grades, but it is usually seen well worn. At the AU level the issue emerges as a rarity. On the present coin, the strike is sharp and the overall appeal is considerable. A few faint hairlines are mentioned for accuracy. We anticipate strong bidding competition for this prize.
2017 1846-O Breen-4795. Small Date, Partial Drapery. MS-60. Rich steel gray iridescence and splashes of pale blue on reflective semi-prooflike surfaces. Breen's "1846/5-O" variety, so named due to the remnants of another numeral in the loop of the existing 6 in the date. Careful examination, however, reveals that the numeral remnants there resemble a 6 more than any other conceivable numeral. A pleasing coin for the grade.
On the Small Date (or Medium Date, as it is also known) variety offered here, the serifs of the 4 touch, while on the much rarer Tall Date variety, those serifs are distinctly separate.
2018 1854-O Arrows. MS-63. A highly lustrous coin with extremely satiny surfaces. The obverse is richly toned in gunmetal-blue and iridescent rose, while the reverse is pleasing silvery gold, pale and uniform in appearance. Sharply struck in all areas save for the two uppermost obverse stars. An absolute beauty for the assigned grade.
An intricate network of tiny die file marks can be seen among the obverse stars. Some faint die cracks connect the stars on the right; one crack connects the Liberty Cap to the ninth star. On the reverse, several faint cracks are also seen, the most prominent of these a crack from the base of the D in UNITED to the eagle's beak.
Choice Mint State 1858-S Half Dollar
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2019 1858-S Large S. MS-63. Lustrous satiny silver surfaces show a touch of lovely gray iridescence. A desirable San Francisco Mint issue, a date that is most often found in circulated grades. Large S mintmark variety. Scarce so fine, a lovely coin.
In our forthcoming book, The Treasure Ship S.S. Brother Jonathan, extensive information is included concerning the first decade of operations of the San Francisco Mint. Along the way various aspects of rarity of the different silver and gold varieties are brought to the fore.
From our sale of the Armand Champa Collection, May 1972, Lot 895.
Important 1873 Half Dollar Rarity
No Arrows, Open 3
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2020 1873 No Arrows. Open 3. Wiley Bugert-101. F-12. Light gray surfaces with some hints of gold toning. A circulated example of this very elusive variety. Nearly all known 1873 half dollars without arrows at the date are of the Closed 3 style made early in the year. The exact quantity of Open 3, No Arrows half dollars produced is, of course, unknown. Early in the year, the Mint began production of the common No Arrows variety with Closed 3. During the early part of the year, perhaps in March, prior to the effective date of the Mint Act of 1873, the date style was changed to include the Open style digit 3. A few examples were struck, the exact number unknown. Then, the new weight standard prescribed by the 1873 legislation took effect, and the remaining coins of the year included the Open 3 date logotype and arrows to the left and right.
Acquired through the Goliad Corporation.
Silver Dollars
Remarkably Fine and Beautiful 1794 Dollar
Classic American Rarity
The Murdoch Specimen
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2021 1794 Bowers Borckardt-1, Bolender-1. Rarity-4. Flowing Hair. AU-58 to MS-60. Very well struck, which for a 1794 dollar is a truly significant statement. Indeed, not one in 10 surviving examples of this year can equal the present piece. Most 1794 dollars are very lightly struck at the lower left obverse and the corresponding part of the reverse, sometimes to the point at which all stars and denticles are flat. The present piece differs. The rim and denticles are well defined in all areas, the hair of Miss Liberty is extraordinarily detailed, the date is sharp, and most other aspects are especially well defined. The stars at the lower left are shallow at their centers, but with complete outlines. The obverse surface has a few stray marks and some roughness near stars 1 and 2. The surfaces are toned a pleasing light gray and gold with suggestions of blue at the rims. Opposite star 2 there is a tiny break in the raised rim due to the planchet.
On the reverse the eagle is extraordinarily well detailed, with nearly full breastfeathers, excellent wingfeather detail, prominent veins to most leafs, sharp lettering, and sharp dentils. The surfaces are a light gray and heather with suggestions of blue. On both obverse and reverse are ample suggestions of original mint frost.
Over a long period of years, indeed virtually since day one of American numismatic interest, the 1794 silver dollar has been highly prized. Research by the late Jack Collins indicates that the population of known pieces is somewhere between 125 and 135 specimens, the precise number indeterminable, as not all have appeared in auctions. Moreover, some auction listings are undoubtedly duplicates, as many early descriptions are not precise enough to establish pedigree links and were not photographed. The median grade for known 1794 dollars is about VF-25.
United States silver dollars became a reality in October 1794 when 1,758 pieces were delivered from a mintage estimated at 2,000. There were difficulties due to the inadequacy of the press size and, after this small amount, no further dollars were struck until May 1795, by which time new equipment had been secured. Of the pieces struck, the vast number were shallowly defined at the lower left of the obverse and the corresponding part of the reverse; this from the die faces not being parallel in the coining press. There were a few happy (from a later numismatic viewpoint) specimens, the presently offered Bass Collection example being notable for its decent strike.
The Bass Collection coin, combining as it does a high numerical grade and, equally important, a far above average strike, stands as one of the very finest specimens of this classic rarity.
The present coin traces its pedigree to the other side of the Atlantic Ocean, to the Murdoch Collection sold in London in 1903. Later, it appeared in other illustrious cabinets as noted below. Its grade has been variously described in the modern era as AU or Mint State. In 1946, in his offering of the William Cutler Atwater Collection, B. Max Mehl gave his own opinion and also cited earlier listings:
"1794 Obverse, bust of Liberty to right, with loose flowing hair hanging at neck; 15 stars, seven to right and eight to left of bust. LIBERTY above, date below. Reverse, small eagle with wings displayed, the head turned to right, standing upon a rock; the whole within olive wreath. Legend, UNITED STATES OF AMERICA. Edge lettered HUNDRED CENTS ONE DOLLAR OR UNIT. Uncirculated; just the barest touch of cabinet friction, with frosty mint lustre. Perfectly centered, and what is most important, an unusually bold impression. Undoubtedly one of the earliest impressions of the die. As is well known, all of the 1794 dollars have the stars on left not struck up. They are usually flat. But on this specimen they are rather bold. I do not claim that this beautiful 1794 dollar is the 'finest known,' but it is the finest that has ever passed through my hands in my more than 45 years of numismatic experience. Besides the remarkable choice condition of this coin, it has an equally remarkable pedigree. This specimen was formerly in such great collections as the Col. Ellsworth, George H. Earle, and the Murdoch Collection of London, England. In the Earle sale, held by Henry Chapman in June 1912, this dollar was described as follows:
"Lot No. 2667. 1794 Finest specimen known! Sharp, bold, even impression. Date and LIBERTY sharp. Milling sharp and even. Reverse, sharp and even, showing the feathers on eagle's breast. Slight hairmarks in field. Light charcoal drift mark in planchet from the edge at first star in a circle embracing first and second stars on the edge. This superb coin I bought at the sale of the Murdoch Collection in London, July 30, 1903, Lot 835. It surpasses in every way any other example. Of excessive rarity."
In the Murdoch sale, 1903, it was catalogued as Lot 835 and a statement made from the memo of Mr. Murdoch to the effect that this dollar is "considered to be the finest known." In the Murdoch sale this coin brought £48 (approximately $230.00). In the Earle sale, in 1912, it brought $620.00. And a similar specimen, sold about one year ago, brought $2,000.00. The Murdoch sale realized approximately $112,000.00. Please remember that this was in 1903, 43 years ago, when in the same sale other U.S. coins, a lot containing U.S. silver dollars of 1859, 1860, and 1861 in brilliant Proof condition, brought $5.25 for the three. Today these same coins bring from $85.00 to $100.00, nearly 20 times as much. All of the great collectors who previously owned this coin were men of large means and collectors of the finest obtainable coins. While this coin is of great value as it is, its wonderful pedigree certainly adds much to its interest and, of course, to its value. The Murdoch Collection was described by the cataloguers, Sotheby, Wilkinson & Hodge, the most famous auction house in England, as "the most important numismatic collection ever sold in this country" (England). The Earle Collection, when sold in 1912, was the largest collection ever sold in America.
Historical Notes on the 1794 Dollar
With regard to the availability of early business strike silver dollars, 1794-1803, in numismatic circles today, the 1794 has always been the centerpiece, a classic American rarity. It is believed that only about 125 to 135 are known. In contrast, the 1795 Flowing Hair pieces of the same design are more plentiful and exist today in a wide variety of grades, including occasionally Mint State examples.
S. Hudson Chapman and Henry Chapman, who conducted a retail coin business in partnership in Philadelphia from 1878 until 1906, and separately after that time, acquired in the course of their over-the-counter business just about every variety of circulated American coin. However, for reasons they were never able to figure out, no 1794 dollar was ever brought in by a member of the public. Meanwhile, 1796 quarter dollars, 1796 and 1797 half dollars, and other delicacies came in now and then. Among anecdotes of the Chapmans, this is one of the most often told.
Coinage Considerations
In 1793 and 1794, the largest press at the Mint was intended for striking coins no larger than a half dollar. Surviving documents studied by R.W. Julian indicate that Mint officials lamented the lack of a press suitable for coining silver dollars and medals. It was not until spring 1795 that one of this capacity was installed.
In the meantime, a screw press suitable for coining cents and half dollars was put into service to make silver dollars. The initial coinage of the new denomination was accomplished in the first part of October 1794. The effort was not completely successful, as evidenced by surviving coins which show areas of weak striking. Apparently, just one blow of the press was used (as evidenced by the lack of double struck features on surviving pieces).
Known silver dollars dated 1794 are from a single pair of dies and are believed to have been made to the extent of, perhaps, 2,000 coins (Walter H. Breen's estimate), of which 1,758 pieces were considered to be satisfactory and were delivered by the coiner on October 15, 1794. The remaining impressions, possibly amounting to 242 coins, rejected as being too weak, probably were kept on hand for later use as planchets. Supporting this theory is the existence of at least two 1795 silver dollars plainly overstruck on 1794 dollars.
As several die states exist, the striking could not have been continuous, but was interrupted by the removal of the dies from the press for resurfacing (relapping) after clash marks were sustained early in their life. The silver for striking these came from ingot deposits made by Director Rittenhouse and Charles Gilchrist. Rittenhouse personally received the entire first coinage of dollars. At the time the Mint delivered coins in direct response to deposits of silver (later, gold as well) made by banks, merchants, etc. The Mint did not maintain its own inventory of metal to strike coins for its own (the government's) account.
After the October 1794 effort at coining dollars, the project was abandoned as a bad job, and a large supply of silver dollar planchets was put into chests for storage until a larger, satisfactory press could be installed. Thus, the mintage of 1794 dollars was much smaller than had been intended. Meanwhile, until silver dollar production resumed on the new larger press in May 1795, a generous production of half dollars filled the need for large silver coins. Specialists who enjoy studying the many fascinating die varieties of 1795 half dollars have the Mint's press inadequacy to thank.
Snowden and the 1794 Dollar
The Cabinet Collection of the Mint of the United States, by Mint Director James Ross Snowden and his staff, 1860, p. 107, told of the first coinage of dollars:
"The first deposit of silver bullion for coinage took place on the 18th day of July 1794. The deposit was made by the Bank of Maryland, and consisted of 'coins of France,' amounting to eighty thousand seven hundred and fifteen dollars seventy-three cents and five-tenths ($80,715.735).
"The first return of silver coins from the Chief Coiner to the Treasurer was made on the15th day of October, and comprised 1,758 dollars. The second delivery was on the first day of December, and consisted of 5,300 half dollars. This embraced the entire silver coinage of the year. There was a small coinage of half dimes, but they were only struck as pattern pieces, for the purpose of trying the dies, and were not regularly issued." [1794-dated half dime dies were made, but were not used until calendar year 1795.]
"The types were as follows: Obv. A head of Liberty, facing to the right, with flowing hair. Above was the word 'Liberty,' and beneath the date '1794.' To the left of the effigy were eight stars, and to the right seven, 15 in all. On the reverse was an eagle with raised wings, encircled by branches of laurel, crossed.…"
Snowden was the first serious numismatist to occupy the director's office at the Mint. Snowden served from June 3 or 4 (accounts differ) 1853, to April 1861. After he left office he continued his numismatic activities in the private sector. Snowden had been a member ex officio of the Numismatic and Antiquarian Society of Philadelphia when he was Mint director. After spring 1861 he became a dues-paying participant. He wrote two other books on coins, one appearing in 1861 and the other in 1864. His sources were not always accurate (for example, he called the 1817 15-stars cent a pattern), but, on balance, he made available a great amount of valuable information to collectors in the growth years of the hobby.
Debut of the 1794 Dollar
So far as is known, the new 1794 silver dollars slipped into circulation and immediately began doing their duty in the channels of commerce. By early December 1794, a few of the new dollars had traveled north to the Granite State, where the New Hampshire Gazette reported the following on December 2nd:
"Some of the dollars now coining at the Mint of the United States have found their way to this town. A correspondent put one into the editor's hands yesterday. Its weight is equal to that of the Spanish dollar but the metal appears finer. One side bears a head, with flowing tresses, encircled by 15 stars, and has the word 'LIBERTY' at the top, and the date, 1794, at the bottom. On the reverse, is the bald eagle, enclosed in an olive branch, round which are the words 'One Dollar, or Unit, Hundred Cents.' The tout ensemble has a pleasing effect to a connoisseur; but the touches of the graver are too delicate, and there is a want of that boldness of execution which is necessary to durability and currency."
In the absence of any indigenous numismatic interest at the time, all of the 1,758 examples of the 1794 dollar are believed to have been used as currency. So far as is known, none were made for presentation or special purposes.
Numismatic Considerations for the 1794 Dollar
From the inception of coin auction sales on a large scale in the 1860s, to the present day, the appearance of a 1794 silver dollar in an auction usually has provided the opportunity for the cataloguer to provide an extended comment. Indeed, the earlier quoted commentary from B. Max Mehl's 1946 offering of the present coin furnishes an example. Similarly, 1794 dollars have occupied the spotlight in numerous dealers' fixed-price lists over the years.
Charles Steigerwalt, in The Coin Journal, September 1880, commented as follows concerning the 1794 dollar:
"The number of pieces coined in this year was not large and they have become very rare. Good specimens bringing about $50. The dies of the dollars and half dollars of this year were not sharp and the impressions are generally weak; good specimens being difficult to obtain."
When Ebenezer Locke Mason wrote Rare American Coins: Their Description, and Past and Present Fictitious Values, in 1887, he focused upon this coin and noted the following:
"The 1794 United States silver dollar, which occupies the centre of the group in our illustration [a collage of coins at the top of the page], was authorized by an act of Congress, April 2, 1792, and was struck at the old Mint, opposite Filbert Street, in Seventh Street, Philadelphia, and is still standing. This dollar, which is considered very rare, commanded a premium of about $25 in 1860, and has steadily advanced in fictitious value from year to year, and commanded, in every condition, in 1885, the sum of $300.00.
"It is said that but few of the 1794 dollars were struck, and the earliest from the dies equaled Proof pieces in their glistening splendor. The British Museum contains the best-known specimen of the 1794 dollar, and probably received it as a gift from our government the year it was coined. [In a conversation with Q. David Bowers, August 6, 1992, Jack Collins stated that in the course of his research involving 1794 dollars he had learned that the specimen in the British Museum had been cleaned to the extent that it now shows extensive hairlines. The Collins manuscript is now in the hands of numismatic scholar Michael Hodder, and it is our understanding that it will be published within the next few years.]"
Concerning the Dies of the 1794 Dollar
A description of the dies of the 1794 dollar may be of interest:
OBVERSE: Flowing Hair design with six curls, the third curl weak. First star close to 1 in date. Second star near first curl, but does not touch it. The head of Miss Liberty on the 1794 dollar has a fuller cheek and more pronounced jaw line than does any of 1795, and admits of consanguinity with some of the finely detailed heads seen on large cents made early in 1794. Blunt tip to neck point.
No head on a 1795 dollar is exactly like this head, although three obverse dies of 1795, one used to coin BB-11, BB-12, and BB-13; another to produce BB-14; and a third to strike BB-16, BB-17, and BB-18, each have a blunt tip to neck point and are more like the 1794 head than any others. If any 1795 obverses are worthy of the "Head of '94" appellation, these three are.
A curious fact, apparently not mentioned in the literature until Dave Bowers commented in his Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia, 1992, is that while the eight stars on the left of the 1794 silver dollar are each oriented with a point toward the denticles (as standard), the seven stars on the right are each positioned differently, unique to 1794 in the early dollar series, with two points toward the denticles.
REVERSE: Eagle perched on a rock within a wreath; 21 leaves on each branch. The wreath has 19 berries, 10 on the left branch, 9 on the right. A leaf is joined to second T in STATES, and another almost touches the right corner of F in OF. "Lobster claw" leaf pair under second T of UNITED and first A of AMERICA. Eagle's wing touches R in AMERICA. Ribbons below wreath thinner and much closer together, and branch ends thinner and straighter, than on any 1795 reverse. Ribbon (not a knot) around junction of the two wreath stems. Rock under eagle's feet extends much farther to the left than on any 1795 die. This die was retired after the 1794-dated coinage and was not used in 1795.
From the Murdoch Collection (London, July 1903, Lot 835), Spink & Son, Ltd. (London), George H. Earle Collection (Henry Chapman, 1912, Lot 2667), Col. James W. Ellsworth, Wayte Raymond and John Work Garrett (1923, private sale arranged through Knoedler & Co.), William Cutler Atwater (B. Max Mehl, 1946, Lot 185), Dr. Charles A. Cass, Empire Collection (Cass Collection, Stack's, 1957, Lot 1678), private holding, Gibson-Groves Sale (Stack's, 1974, Lot 75; there as "Uncirculated, just the barest touch of frosty mint lustre; perfectly centered, and an unusually bold impression"), Julian Leidman and Michael Brownlee, to Harry W. Bass, Jr.
Splendid 1802 Draped Bust Dollar
BB-241, Close Perfect Date
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2022 1802 BB-241, B-6. Narrow Date. MS-60. Lustrous lilac-gray surfaces with splashes of iridescent rose on both sides. A sharply struck and highly impressive example of the date and design type. Strong design details present in all areas, with all but a few of the eagle's breast feathers boldly rendered; all things considered, however, still sharper than many known specimens of the date or type. Certainly choice for the grade, and with a great deal of eye appeal. While the issue is not rare as a variety, in higher grades it is somewhat elusive-and with attractive aesthetic appeal it is even more so. The present coin furnishes an opportunity for the die variety specialist as well as anyone desiring to own a nice Draped Bust obverse, Heraldic Eagle reverse dollar for inclusion in a type set.
This obverse die makes its only appearance as BB-241, while the reverse die was used for BB-212 (1801), 231 (1802/1), 232 (1802/1), 241, 254 (1803), and 255 (1803).
Acquired May 9, 1971 from Bill Epstein, after a personal introduction by Julian Leidman.
Choice Proof 1855 Silver Dollar
Key Date Rarity
2023 1855 Proof-63. A splendid specimen, choice and beautiful in every regard. Deep mirror obverse and reverse fields accented with delicate champagne toning. Few others at this grade level can compare in aesthetic quality or desirability.
Only a few Proofs exist, "at least three," according to the Wiley-Bugert reference. As noted by Walter Breen in his Encyclopedia, Proofs were first discovered by Q. David Bowers. The fund of information on Proofs of the 1855 year, overdate as well as perfect date, is very sparse. The issue is extremely rare, and it can be years between offerings. It is far more elusive than 1856 or any later date.
From Monarch Coins, February 17, 1972. Through the Goliad Corporation.
2024 Large quantity of 1879-S Morgan dollars, average MS-60 to 63, some finer. Many display varying degrees of toning. (Total: 80 pieces)
2025 Group of 1879-S Morgan dollars, mainly MS-60 to 63, a few are finer. Many are toned in varying degrees. (Total: 61 pieces)
2026 Five dozen 1882-S Morgan dollars, mostly MS-60 to 63, some are finer. Many are toned. (Total: 60 pieces)
2027 A selection of 1882-S Morgan dollars, average MS-60 to 63, some finer. Many are toned in varying degrees. (Total: 49 pieces)
2028 Hoardlet of 1884-O Morgan dollars, MS-60 to 63, some finer. Many are toned. (Total: 88 pieces)
2029 Four rolls of 1884-O Morgan dollars, MS-60 to 63, some finer. Many are toned. (Total: 80 pieces)
2030 Roll quantities of 1884-O Morgan dollars, average MS-60 to 63, some finer. Many are delightfully toned. (Total: 80 pieces)
2031 Large group of 1885-O Morgan dollars, mainly MS-60 to 63, some finer. Many are toned. (Total: 90 pieces)
2032 Selection of 1885-O Morgan dollars, mainly MS-60 to 63, some finer. Many are toned. (Total: 80 pieces)
2033 Roll quantities of 1885-O Morgan dollars, mostly MS-60 to 63, some finer. Many are toned. (Total: 80 pieces)
2034 1888-dated Morgan dollars by the roll, MS-60 to 63, some finer. Many are toned. (Total: 88 pieces)
2035 Four rolls of 1888 Morgan dollars, mainly MS-60 to 63, with some finer. Many are toned. (Total: 80 pieces)
2036 Four more rolls of 1888 Morgan dollars, mainly MS-60 to 63, with some finer. Many are toned. (Total: 80 pieces)
