Gold Dollars - Lots 55-113
The Harry W. Bass, Jr. Collection - Part IV
Gold Dollars - Lots 55-113
Desirable Proof 1858 Gold Dollar
A Numismatic Classic
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55 1858 Proof-62 (PCGS). Light greenish yellow gold with moderately deep mirrored fields and lustrous cameo devices. Typical light hairlines and abrasions are present. Sharply struck with all details fully defined. This is a rarity with just 10 to 12 examples known, as noted by Walter Breen in his Complete Encyclopedia. His estimate may be slightly low as three different examples from the Bass Collection were not included on an earlier roster of nine Proof specimens, published in Breen’s Proof Encyclopedia. We believe that the actual total number known is in the range of 15 to 20 coins.
Perfect dies.
It seems that in 1858 the Proof gold coins were offered singly, although we have traced the distribution of a couple of full sets. If the successful purchaser of this lot would like to have a copy of Dave Bowers’ manuscript section on 1858 gold dollars from the forthcoming project (which is expected to be published in eight volumes), a note to QDB will suffice.
Purchased from Julian Leidman, January 1, 1972.
Important 1858-D Gold Dollar
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56 1858-D MS-61 (PCGS). Incredibly, this is a second Mint State 1858-D gold dollar from the Bass Collection; an MS-62 example was included in Part II as Lot 126. Satiny light yellow gold and very slightly reflective. Very minor surface marks as expected for the grade. Typical strike with some weakness on the plumes and hair details, as well as the lower wreath. Solidly within the top 10 for this issue, and possibly among the best half dozen.
Light obverse and reverse clash marks.
From a set of gold dollars purchased from Rowe and Brownlee, February 24, 1967. This set was one of the earliest gold purchases made by Mr. Bass, as suggested by his inventory number, 10224. The very first gold coin was recorded as inventory number 10001!
Finest Known 1858-S Gold Dollar
From the Harold S. Bareford Collection
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57 1858-S MS-65 (PCGS). This is an absolutely magnificent example with satiny deep yellow gold lustre and very faint rose toning. A few trivial surface marks are noted. Every detail is boldly defined. Walter Breen described the 1858-S issue, with a mintage of 10,000 coins, as "Extremely rare in Mint State." He further listed this exact coin, from the Bareford Collection, as his only census example for the Mint State category.
When Stack’s offered this coin as part of the Bareford Collection, they were just as enamored as we are today: "Brilliant Uncirculated and a gem. Full blazing lustre with delicate toning. In overall strike, color, and appearance, we do not believe this coin has its equal. It is also one of the most underrated coins in Mint State in the entire series." Earlier, Abe Kosoff provided a brief description in the March 1948 "Memorable" Collection: "Splendid Uncirculated coin. Tiny nick. Mint bloom. Worth over $50.00." This coin realized $41.00 in the Numismatic Gallery sale back in 1948.
PCGS Population: 1; none finer. The next highest graded by PCGS is just MS-63, an example of which appeared in Part II of the Bass Collection!
Very light clash marks are visible on the reverse. The obverse has minute die polishing lines in the fields. On the reverse, a die bulge causes the mintmark to be elevated slightly above the surrounding fields.
Notes about the 1858-S Gold $1
Circulation strike mintage: (10,000)
Estimated population (Mint State): 5 to 7. Most are in lower numerical levels, and this estimate may include some pieces that would be more properly graded as AU. This gold dollar is an important rarity in Mint State, but not quite in the class of the 1857-S.
Writing in 1975, David W. Akers commented: "As is the case with the 1857-S, strictly Uncirculated examples of the 1858-S are all but nonexistent. In my estimation, all three of the 1857-S, 1858-S, and 1859-S are extremely underrated compared to other more glamorous dates in this popular series." Over the years a number of Mint State coins have appeared in the literature, but it is not known how many would be considered in that grade today.
Estimated population (circulated grades): 160 to 250. Typically encountered in VF grade, sometimes EF, but rarely AU.
Die data: 3 obverse and 10 reverse dies were shipped to San Francisco, but only two reverse varieties are known, these differing only slightly.
1858 four-digit date logotype for the gold dollar: 18 closest, 85 slightly farther apart, and 58 even farther, although the differences in each instance are not great. 1 leans slightly to the right; top interior of 8 slightly smaller than the bottom interior; 5 about the same style as preceding, upright, but leaning slightly to the right, not enough to be called slanting or italic. Ball very heavy and close to 5. Second 8 from the same punch as the first 8, and also leaning slightly right. This logotype was used on all dies of all mints.
Characteristics of striking and die notes: Usually sharply struck, this being true of nearly all other San Francisco Mint gold dollars of the Type III design.
Selected circulation strike citations from early catalogues including the previously quoted Memorable sale: Included are early offerings, listings with die descriptions, and citations for particularly high-grade specimens.
• 1890-09: 39th Sale, Maj. William J. Thomsen (Dr. George W. Massamore), Lot 793: "1858-S Uncirculated. Very rare." A very early listing of what must have been a very nice specimen.
• 1898-12: James T. Callender Collection (Lyman H. Low), Lot 369: "1858 S mint. Very Fine, rare." Realized $7.75.
• 1905-11: Philip D. Hoch Collection (Lyman H. Low), Lot 526: "1858 S Mint. Very Good; very rare." Realized $2.80.
• 1907-03: David S. Wilson Collection (S.H. Chapman), Lot 297: "1858-S Fine." Realized $4.25.
• 1910-12: 46th Sale, Joseph Barnet Collection (Thomas L. Elder), Lot 447: "1858-S Very Fine and very rare. I doubt if I have ever offered one." This is a telling statement from Elder, who by 1910 had handled more gold dollars than any other rare coin dealer. Gold dollars were his forte.
• 1911-03: 48th Public Sale, William H. Woodin Collection (Thomas L. Elder), Lot 864: "1858-S Very rare. Record $7 in my last sale." Realized $4.50. No grade stated.
• 1913-05: Malcolm N. Jackson Collection (U.S. Coin Co., Inc.), Lot 350: "1858-S Extremely Fine, rare." Realized $5.25.
• 1917-08: Public Auction Sale (Thomas Elder), Lot 471: "1858-S Coinage small. Uncirculated. Very rare."
• 1922-12: H.E. Rawson, Dr. A. de Yoanna, and David Strasser Collections (B. Max Mehl), Lot 88: "1858-S Uncirculated. The field of obverse shows the very slightest touch of handling. The reverse is as perfect as the day it was minted. Full mint luster. A rare coin in very rare state of preservation, and as such valuable." Mehl gives the rarity of an Uncirculated specimen its due.
• 1936-01: Sale 359, Rare U.S. and Foreign Gold Coins (J.C. Morgenthau & Co.), Lot 49: "1858-S Very Fine." Realized $8.50.
• 1939-11: William B. Hale Collection (B. Max Mehl), Lot 726: "1858-S Uncirculated; as perfect as the day it was minted. I do not recall of ever having seen an equal and certainly not a better specimen of this coin. It is superb, and as such, very rare and valuable." Realized $21.
• 1944-12: J.F. Bell Collection (Stack’s), Lot 75: "1858-S Brilliant Uncirculated gem." Realized $32.50. This particular sale is one of the great gold specialty landmarks of the decade—a feather in the Stack’s cap (about now, in 2000, the firm is celebrating its 65th anniversary in the auction business).
• 1947-06: Will W. Neil Collection (B. Max Mehl), Lot 2370: "1858-S Very Fine, strictly so. Record over $31 for a similar specimen which this coin catalogs at $25. It now catalogs at $30." Realized $18.75.
• 1948-03: Memorable Collection (Numismatic Gallery), Lot 73: "1858-S. Large size. Splendid Uncirculated coin. Tiny nick. Mint bloom." Realized $41.
• 1950-06: Menjou Collection (Numismatic Gallery), Lot 488: "1858-S Beautiful Uncirculated piece, seldom offered in this condition." Realized $59.
• 1955-11: Farish-Baldenhofer Collection (Stack’s), Lot 1117: "1858-S About Uncirculated." Realized $32.50.
• 1956-04: Thomas G. Melish and Clinton W. Hester Collections (A. Kosoff), Lot 1766: "1858-S Very Fine, difficult to obtain. Superior to one I sold recently for $52.50." Realized $50.
• 1956-08: Chi-ANA Convention Sale (James F. Kelly), Lot 1609: "1858 S mint. Uncirculated. Rare in choice condition."
From Stack’s sale of the Harold Bareford Collection, December 1978, Lot 36. Earlier from the Bell Collection, offered in Numismatic Gallery’s "Memorable" sale of March 1948, Lot 73.
Scarce 1859-D Gold Dollar
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58 1859-D AU-50. This is a pleasing deep yellow gold example with considerable lustre remaining. The surfaces are exceptional with only a few light hairlines and trivial imperfections. The digit 5 and letters OLL in DOLLAR are filled and weak. Just 4,952 were minted which actually ranks this number one as the highest mintage Type III gold dollar from the Dahlonega Mint. Of all the issues from the Georgia mint, only 1849-D had a mintage exceeding 10,000 coins. Every other issue was below this quantity.
Purchased from Abe Kosoff, August 1973.
59 1859-D Net EF-45; sharpness of AU-58, cleaned. Light yellow with hints of frosty lustre beneath the hairlines. Similar characteristics as the previous lot, with digit 5 and OLL weak.
From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1700.
60 1859-S AU-55. Considerable lustre remains with pale yellow gold surfaces. An attractive example despite a few faint hairlines. Very sharply struck. Just 15,000 were struck, typical of gold dollar mintages from San Francisco. Only seven different gold dollars were produced at our westernmost mint, with an average mintage of 12,890 coins. Akers suggested this issue is the single most underrated date among all gold dollar issues.
Perfect dies.
From Stack’s sale of March 29-31, 1973, Lot 760.
61 1861 MS-64. A frosty little jewel with amazing brilliant yellow gold lustre and exceptional surfaces. A few very faint blemishes are noted, along with some slight surface granularity, as struck, in the upper left obverse field.
A die bulge is noted at lower obverse. Otherwise perfect dies.
From Stack’s sale of the Miles Collection, October 1968, Lot 48.
62 1861 MS-63. Lustrous light yellow gold with frosty surfaces and extremely sharp design details. This issue is ideal for the type collector. Only 10 issues in the entire series have higher mintages.
Cracked from border through upright of E in AMERICA.
From Stack’s sale of the Alto Collection, December 1970, Lot 34.
Storied 1861-D Gold Dollar
Struck under Confederate Authority
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63 1861-D AU-58 (PCGS). This coin has much to offer the collector and numismatic historian. Rich yellow gold with considerable lustre and very sharp design details. Marginally reflective fields add to the overall aesthetic appeal. Although a few minor surface marks and abrasions are present, none are serious. This is one of the nicest quality examples we have handled, exceeded perhaps only by the Mint State coin we sold in Part II of this same collection. Left obverse and reverse borders are weak, as always found. All 1861-D gold dollars were minted after the facility fell to Confederate authority in April 1861. Although not recorded to the best of our knowledge, we believe the mintage was in the range of 1,000 to 1,500 coins.
Although a small number of Mint State examples are known, this is the rarest Dahlonega Mint gold dollar issue. The cataloguer (Mark Borckardt) speculates that perhaps the high quality examples were saved as souvenirs by those Confederate personnel who caused these to be struck. Below we offer some information from the manuscript of Dave Bowers’ forthcoming study.
A Few Notes about the 1861-D Gold $1
Circulation strike mintage:
(Unknown; estimated 1,000 to 1,500)
It is believed that the mintage of the 1861-D gold dollar took place in May by which time the Dahlonega Mint was under the control of the Confederate States of America. None had been coined under federal auspices earlier in the year. The mintage figure was not reported, and estimates have ranged from below 1,000 to "between 2,750 and 3,250 pieces," the latter being the range given by Clair M. Birdsall (The United States Branch Mint at Dahlonega, Georgia). David Akers gives his estimate as 1,200 to 1,500 pieces.
Of all gold coins in the American series, there are few if any that have more history and romance than the 1861-D gold dollar. Its story is marvelous to contemplate:
Two pairs of dies were sent to Dahlonega on December 10, 1860, without realizing that Georgia would be seceding from the Union within the month (although after Lincoln’s election in November, there was much talk in the South about this). The package of dies arrived on January 7.
Soon thereafter, following instructions from the governor of Georgia, insurgent troops seized the Dahlonega Mint. What happened after that time can only be conjectured, as no unequivocal records are known to have survived. Apparently a small quantity of gold bullion was on hand, or perhaps some deposits were made.
Historian Clair Birdsall stated that near the end of the Dahlonega Mint’s operations, in May 1861, about $3,000 face value in gold coins was minted under Confederate auspices. These could have been entirely gold dollars (as Birdsall suggests) or a combination of $1 and $5 coins (a possibility he also mentions). Assay coins with a face value of $6 were sent to Montgomery, Alabama, then the capital of the Confederate States of America (later moved to Richmond). It was not stated whether this consisted of six $1 coins or one $1 coin and one $5 coin.
In any event, dies for the 1861-D gold dollar were put into a coining press, and some pieces were run off. As there had been no 1861-D coinage prior to the occupation of the mint by Georgia forces, de facto all 1861-D gold dollars are really 1861-D Confederate States of America gold dollars. The pieces are believed to have been struck in April, the same month that Confederate troops took over from their brethren, the troops of Georgia. Shortly thereafter, the Dahlonega Mint ceased coinage operations, never to be reopened for this purpose.
Estimated population (Mint State): 5 to 9. A handful of pieces can be described as Mint State. Grading is subjective, and one person’s AU can be another’s Mint State. In recent years, certain Dahlonega (and also Charlotte) gold dollars have been graded more liberally than they were years ago. By any standard, an 1861-D gold dollar in Mint State or close to it is a first-class rarity and object of numismatic desire.
Estimated population (circulated grades): 45 to 55. Specimens exist in all circulated grades from well worn and impaired from use as jewelry (impaired coins are not included in the estimate figure) to the EF to AU range, the latter categories being more typical. Grading is highly subjective due to the characteristics of striking (see below); one person’s "EF" can be another’s "AU."
Die data: 2 obverse and 2 reverse dies were sent from Philadelphia for the 1861-D coinage, but shipment dates are not known.
The numerals in the dates of the 1860 and 1861 dollars are smaller than on preceding years. The D mintmark on the 1861-D is much smaller than on the immediately preceding dates of Dahlonega Mint Type III gold dollars.
Characteristics of striking and die notes: The U in UNITED is always weak or absent on authentic coins. The ICA in AMERICA is often weak, hair details are usually weak. The obverse die is the same as used to coin 1860-D gold dollars, those also having the weak or absent U. The entire coin appears somewhat "mushy" in details. The reverse die is typically relapped (e.g., this being true of the two specimens collected by Harry W. Bass, Jr., both of which have the ribbons incomplete). Thus, the personality of an authentic 1861-D gold dollar is defined.
Selected citations from early catalogues: Included are early offerings, listings with die descriptions, and citations for particularly high-grade specimens. Although 1861-D gold dollars appear only infrequently, they are given a lot of "play" when offered, this being especially so in modern times (not quoted here). Among the following we learn the that this is B. Max Mehl’s favorite coin certainly an impressive statement!
• 1907-03: David S. Wilson Collection (S.H. Chapman), Lot 305: "1861-D Extremely Fine. Only four specimens known. The first time a specimen has been offered at auction." Realized $280. The 1861-D was very well known by 1907 and was perhaps the most famous of all branch mint coins of any series.
• 1911-03: 48th Public Sale, William H. Woodin Collection (Thomas L. Elder), Lot 874: "1861-D. The rarest of gold dollars! Coinage not given in mint record, so it can only be guessed at, but judging by the number of pieces which have been offered at public sale the piece is several times rarer than the 1875, or even the 1870-S. This is one of the finest examples extant, being Extremely Fine and the record of $280, made at the Wilson Sale, should here be exceeded." Realized $170.
• 1913-05: Malcolm N. Jackson Collection (U.S. Coin Co., Inc.), Lot 367: "1861-D, Very Fine, some luster. Excessively rare, only a few specimens known." Realized $151. This was one of the highlights among mintmarked issues in the Jackson sale.
• 1917-04-13: Henry C. Miller Collection (Thomas L. Elder), Lot 447: "1861-D Unusually sharp impression, strongest we have yet seen. Two small test cuts on edge. A very rare coin with a sale record to about $350. Rated the rarest U.S. gold dollar."
• 1918-00: Choice U.S. Gold, Silver and Copper Coins (Elmer S. Sears), Fixed price list: "1861-D Very Fine. Excessively rare. Probably the rarest gold dollar. $175."
• 1919-01: Public Auction Sale (Thomas L. Elder), Lot 402: "1861-D Dahlonega Mint. unusually boldly struck piece, the date and mint mark Very Fine and strong. Extremely Fine. I value this coin at not less than $250. It has records at private sale of $400. I got $230 for one myself not nearly so fine as this one. The D. S. Wilson specimen sold for $280."
• 1920-01: Collection of Ancient and Modern Coins (Fred E. Merritt), Lot 222: "1861-D Very strong impression. Extremely Fine. Excessively rare." Merritt was a fleeting figure on the stage of American coin auction cataloguers.
• 1920-07: Public Auction Sale (Thomas L. Elder), Lot 482: "1861-D Mint. Two slight test cuts on edge otherwise Uncirculated and sharp. Extremely rare. Probably not over 12 or 15 known."
• 1922-12: H.E. Rawson, Dr. A. de Yoanna, and David Strasser Collections (B. Max Mehl), Lot 72: "1861-D The rarest known gold dollar. As near Uncirculated as this great rarity is undoubtedly known. A pin point, hardly noticeable nick above 1 on reverse. In order to ‘play safe’ I catalog this specimen as Extremely Fine, but I’m quite certain that it will readily be accepted as Uncirculated. The obverse is strongly struck, with full mint luster, only the highest portions show the barest touch of circulation. The reverse is evenly well struck up, with a nice even mint luster surface. Undoubtedly one of the finest, if not the finest, specimen of this excessively rare coin, which has a record at private sale of $350.00, although since then specimens have sold for less." Realized $165. This early listing by Mehl reflects a great deal of the cataloguer’s personality and describes the coin in a manner that is very appealing, this being quite different from the normal basic notations of the era.
• 1926-02: Cary, McGill, Heaton, Havemeyer, Kinports, Craddock, Little, Morris, and Haller Collections (Thomas L. Elder), Lot 2843: "1861-D Very Fine. A very rare item. DeWitt Smith paid $280 for one. I got $230 for another in one of my sales. Mr. Smith regarded it the rarest of gold dollars. There is no reason why, in this era of the 65 cent dollar, that this coin should not sell for at least $300."
• 1927-12: Dr. Daniel W. Valentine Collection (Thomas L. Elder) Lot 129: "1861-D About Uncirculated. Excessively rare. We sold one once for $230. Has records over $275."
• 1931-04: Morris Collection (B. Max Mehl), Lot 446: "1861-D An unusually choice specimen of the rarest known gold dollar. Very Fine, sharp. Only barest touch of circulation. As much as $350 was once paid for a specimen of this rarity." Realized $115.
• 1932-11: R. Taylor Collection (B. Max Mehl), Lot 239: "1861-D, Strictly Fine to Very Fine. Considered the rarest known gold dollar and at one time brought over $300, and is still extremely rare." Realized $75. • Mehl seems to indicate that additional specimens had been discovered in recent times.
• 1938-03: Samuel H. McVitty Collection (B. Max Mehl), Lot 181: "1861-D Fine obverse, with Very Fine reverse; bold mint letter. At one time considered as the rarest gold dollar known, with old record over $300." Realized $90. By inference, Mehl now considers some other dollar to be rarer than the 1861-D, that other coin being the 1860-D (see earlier Mehl citations for 1860-D).
• 1939-06: Alex. J. Rosborough Collection (B. Max Mehl), Lot 758: "1861-D, Last year of issue at this mint, and of extreme rarity. Very Fine. At one time it sold up to $350, but since then a few specimens have been discovered, which of course brought its value down where today it sells for about $150." Realized $105.
• 1939-11: William B. Hale Collection (B. Max Mehl), Lot 716: "1861-D The highest portions of head show slightest cabinet friction otherwise the coin is Uncirculated with nearly full mint luster. Mr. Hale paid $250 for this coin many years ago. It is not that valuable today, although it is listed up to $300. A recent auction record of $137.50." Realized $105.
• 1944-02: Belden E. Roach Collection (B. Max Mehl), Lot 1104: "1861-D Uncirculated with full mint luster. The highest portions of Liberty head show just the barest touch of cabinet friction. Perfectly centered and well struck. A gem and of the highest rarity. An old record of over $300. Now listed at $225 in only Very Fine." Realized $237.50.
• 1944-12: J.F. Bell Collection (Stack’s), Lot 65: "1861-D Another Brilliant Uncirculated gem. Seldom do you see a pair so well matched in condition as this and the above [Lot 64 was a gem 1860-D gold dollar]. Last year of issue. So rare." Realized $255.
• 1946-06: William Cutler Atwater Collection (B. Max Mehl), Lot 2161: "1861-D. This date and mint gold dollar has always been considered the rarest known of the series. This specimen is strictly Uncirculated with full brilliant mint luster. As is characteristic of all known specimens of this rarity, the U in UNITED STATES is not struck up, and the ICA in AMERICA is not as bold as the balance of the legend. The entire legend, UNITED STATES OF AMERICA, is double-struck. I consider this the gem gold dollar of the collection. I do not recall handling or having seen an equal, and certainly not a better, specimen. Of the greatest rarity. Recent auction record for only a Very Fine specimen, $335. This one certainly worth much more. The mint report does not give a coinage record of it. Apparently, being the last years of mintage, so few specimens were struck that no record was made of it. The 1861-D gold dollars always give me a great thrill, as it recalls to my mind my first ‘great discovery’ and, incidentally, my first ‘big sale.’ I bought an 1861 gold dollar, which at that time were selling for about $1.50 to $2.00 each. Upon examination of the coin, I found it to be the 1861-D. Fortunately, I had a copy of Heaton’s work on Mint Marks, and lo and behold I noted that only two specimens were known. I offered the coin to Mr. H.O. Granberg, who was then one of the leading, if not the leading collectors in the country, and received an offer of no less than $350, which, of course, I immediately accepted. It does not take a great deal of imagination to realize what that amount meant to me in those days and I might say, struggles. Since that incident I have made sales privately where the remittance ran into figures close to the six-figure mark, but I am yet to receive a remittance which would give me the thrill of that first $350 check. So you can hardly blame me if I still consider the 1861-D gold dollar my favorite coin." Realized $345.
• 1948-03: Memorable Collection (Numismatic Gallery), Lot 65: "1861-D. The rarest of the Dahlonega dollars and the last date of the issue. One of the finest specimens we have seen. We sold a choice specimen to a famous California collector." Realized $245.
• 1950-05: Golden Jubilee Sale / Jerome Kern Collection (B. Max Mehl), Lot 297: "1861-D. Practically Uncirculated with mint lustre. Was purchased by Mr. Kern as an Uncirculated specimen, which I believe it is. Variety with most of the letters in legend on obverse double-struck. As is usual with this rarity, the UN in UNITED is not struck up as boldly as the other letters in legend. A beautiful specimen of what is considered the rarest gold dollar. Record up to $350. A note accompanying this coin states that Mr. Kern paid $400. I believe this is as beautiful a specimen of this rarity as exists." Realized $337.50.
• 1956-08: Chi-ANA Convention Sale (James F. Kelly), Lot 1618: "1861 D mint. Practically Uncirculated, one of the finest specimens known. Well struck for this date. Generally considered the rarest of the branch mint gold dollars. Valued by owner at $600. I personally believe it should bring considerably more."
Additional Information
Fame: This is the most famous of all gold dollar varieties and is one of only a few American coins struck under the auspices of the Confederate States of America. Add to this its rarity, and the perfect ingredients are in place for a numismatic landmark. And yet, as all pieces are weakly struck and most are circulated, this issue has not attracted the pure investment segment of the coin market. Thus, market prices are realistic and are based solely upon numismatic demand, this being the best kind of demand in the writer’s opinion.
Enough 1861-D gold dollars exist that several different specimens appear on the market each year. Thus, the opportunity to own a circulated example is not denied to anyone having, say, $10,000 to $20,000 in a checking account.
A perusal of important direct as well as auction offerings of 1861-D gold dollars over the years reveals dozens of interesting citations.
In 1893 in his Mint Marks treatise, cited by Mehl and, of course, a standard work in any event, Augustus G. Heaton commented about Dahlonega Mint gold dollars in general and the 1861-D in particular: "The precious Dahlonega or ‘D’ mint issues are 13, of the years 1849, ’50, ’51, ’52, ’53, ’54, ’55, ’56, ’57, ’58, ’59, ’60, and ’61. Of these the 1852 and ’53 are rare, 1854, ’57 and ’58 are very rare; 1860 exceedingly rare; 1855 and ’56 excessively rare, and of 1861, which is not in the Mint Report, but two pieces are known, one being in our possession."
In The Numismatist, January 1896, it was reported that a Detroit member of the American Numismatic Association (Isaac M. Bates, although his name was not given) had bought an 1861-D gold dollar from an Ohio collector, then sold it to John M. Clapp, of Tidioute, Pennsylvania, for $100, who came to Detroit to pick it up. Generations later this coin was described as Mint State by the present writer and was sold in the Eliasberg U.S. Gold Coin Collection sale, October 1982.
In The Numismatist, May 1904, the St. Louis Stamp & Coin Company advertised the availability of the collection of H.C. Beerman, of Atlanta, Georgia, "costing over $1,100. It is rich in rarities of all the U.S. series. Send us your want list and we will quote you low prices. P.S: The 1792 Birch Cent, 1861-D U.S. gold dollar and 1798 over 7 eagle are in stock today. Let us hear from you."
In a more recent era, reported in Coin World, July 14, 1997, the firm of Hancock & Harwell reported the sale of a PCGS-graded MS-63 to the "Duke’s Creek Collection," the owner of which was not named.
Considered rare in 1903: In August 1903, Augustus G. Heaton contributed an article to The Numismatist (see expanded text under 1855-D $1 gold), "Eccentricities of Coin Valuation," which stated that, among other coins, such gold rarities as "the S mint dollar of 1870, the D mint dollars of 1855, 1856, and 1861, would raise the numismatic temperature of an auction room to fever heat."
Other branch mint coinage contemplated: Footnote to the 1861 dollar coinage: Two reverse dies were shipped to Charlotte, two to New Orleans, and four to San Francisco, but none of these were used for 1861 coinage.
From Stack’s sale of the Shapero Collection, October 1971, Lot 702
64 1862 MS-63. Very pleasing frosty yellow gold lustre with a few very minor surface marks and light scratches. Sharply struck with full details represented on obverse and reverse. A popular choice among Civil War era issues for type collectors.
Minor obverse and reverse clash marks, slightly sharper on the reverse.
From Stack’s sale of the Delp Collection, November 1972, Lot 773.
65 1862 MS-63. Highly attractive frosty yellow gold lustre with wisps of faint rose toning. A delightful example for the date or type collector. A few very minor rim bruises and other slight abrasions are noted.
A thin die crack from the border at 6:00 extends vertically to the bust. The reverse has very minor rim breaks from 3:00 to 4:00.
Purchased from Stanley Kesselman, June 8, 1971.
66 1863 MS-60. Perhaps finer than the grade assigned although the surfaces have been lightly polished with hairlines and other minor imperfections evident. Deep yellow gold with original reflective mirrored fields visible despite the effects of polishing. A pleasing appearing example just the same, with lustrous devices. This issue marks the first of several very rare low-mintage dates, with just 6,200 circulation strikes produced.
Although the 1863 is not immediately recognized as a rarity, a study of many thousands of auction catalogues and price lists has shown that, indeed, high-grade MS-63 dollars show up on the market less frequently than those dated 1875!!! In Mint State the 1863 is a very notable rarity, one that is so elusive that a year or two or three may pass between our offering even a single piece! How exciting this prospect is, especially in view of the market price at present being less than $1,000. The word opportunity comes to mind.
Perfect dies. This was struck from coinage dies that Walter Breen designation as business strike or circulation strike dies. Reverse field striations are visible.
Some Notes about the 1863 Gold Dollar
Circulation strike mintage: 6,200
Delivered from June 24 to November 30. No $1 or other gold coins minted at Philadelphia from 1862 through autumn 1878 were paid out at par; such pieces were stored by the Treasury and were available only by paying a premium.
Estimated population (Mint State): 10 to 14. Most are in lower Mint State levels. A sleeper, an unappreciated great rarity. Today, the true significance of the elusive character of this coin is nearly completely overlooked, although, to be sure, the Guide Book singles out its only Mint State listing, MS-60, to assign the 1863 a price higher than any other Philadelphia Mint gold dollar except 1875. However, in casual conversation about scarce gold dollars, focus is apt to be on Charlotte and Dahlonega coins, or on the 1875, or on the low-mintage issues of the 1880s, rarely on the 1863.
Years ago the 1863 was famous as one of the great classics of the gold dollar series. Reflective of the traditional view, David Akers commented in 1975: "This is the rarest Philadelphia Mint gold dollar of the 1860s and also the rarest gold dollar in Uncirculated after 1861. As a date, it is only marginally less rare than the 1875 but, it is actually more difficult to obtain in full Mint State than the highly regarded 1875."
For verification of this, one need but look through the catalogues of most "name collections." Usually the 1863 gold dollar is listed as Proof or in a worn grade, hardly ever in Mint State. Moreover, there have been more choice and gem Proof 1863 dollars offered at auction in old-time collections than equivalent Mint State pieces—and Proofs themselves are great rarities!
In a word, a Mint State 1863 would be a centerpiece in any collection.
Estimated population (circulated grades): 60 to 80. As noted, some few pieces are Mint State, but most are in higher circulated grades such as EF and AU. For reasons unexplained, the number surviving from this mintage is smaller, percentage-wise, than for later dates in the decade. Thus, in rarity the 1863 outclasses the lower-mintage 1864 made the following year.
In Major Varieties of U.S. Gold Dollars (1964), Walter Breen stated the situation succinctly: "Very rare in any condition."
Die data: 1863 four-digit date logotype for the gold dollar: 18 close, 86 wider, 63 about the same width as 86. 1 with overly long lower left serif. 8 somewhat flattened at top and bottom, angular rather than smoothly rounded on outside. 6 with upright at left being rather straight, top part extending horizontally and with ball fairly close to irregular curve below it. 3 rather crude, with little interior space at top or bottom; base of 3 slightly lower than other figures. • This logotype was used on all gold dollar dies.
Characteristics of striking and die notes: All authentic circulation strikes have many parallel die striae visible under magnification, this feature being visible only on higher grade pieces (such as AU or above). The dies of most gold and silver denominations of the Civil War era were quickly prepared, and across all denominations the majority show many parallel striae.
Occasionally, a gold dollar of this date will show a minor planchet lamination or a carbon (black fleck) inclusion. Some high-grade pieces show doubling of lettering and features at the center of the reverse, a minor doubled-die effect.
Selected early circulation strike citations: Included are early offerings, listings with die descriptions, and citations for particularly high-grade specimens, the latter cited at some length here, but in auction appearances being few and far between.
• 1871-10: Jno. A. Nexsen Collection (Edward Cogan), Lot 841: "1863 Uncirculated." Realized $1.16.
• 1890-01: Robert Coulton Davis Collection (New York Coin & Stamp Co.), Lot 947: "1863 Barely touched by circulation; very rare." An early recognition of the rarity of a circulation strike gold dollar of this date.
• 1897-04: M.A. Brown Collection (S.H. and Henry Chapman), Lot 210: "1863 Extremely Fine. Excessively rare." Realized $20. Use of the excessively rare term to describe a worn circulation strike specimen is indicative of the esteem in which the 1863 was held by the Chapman brothers, who by 1897 had seen their share of rare coins.
• 1898-03: New Jersey Collection (Ed. Frossard), Lot 1034: "1863 Mint State. Very rare." The Mint State term represents an early use of what was mostly called Uncirculated preservation; this particular catalogue used both terms. This was part of a very important collection of gold dollars by date and mintmark, lacking only a few varieties.
• 1903-06: John Hurd Comstock Collection (Lyman H. Low), Lot 432: "1863 Very Fine and very rare. Auction records up to $30." Realized $25. A very high price for a well-worn coin, even considering its rarity.
• 1904-04: John G. Mills Collection (S.H. and Henry Chapman), Lot 643: "1863 Uncirculated. Excessively rare." Realized $18.
1905-09: XVIII Mail Auction Sale (Ben G. Green), Lot 132: "1863 Uncirculated. Very rare." Realized $25. This strong price reflects prevailing knowledge that in Mint State the 1863 was/is indeed rare (although a slightly higher price, $30, was achieved for the 1864 in the same sale; in contrast, a common 1861 went for just $2.25).
• 1905-11: Philip D. Hoch Collection (Lyman H. Low), Lot 534: "1863 Has been used as a brooch. Fair; very rare." Realized $7.10. Despite severe impairment, this 1863 brought a strong price.
• 1906-06: Major W.B. Wetmore (S.H. and Henry Chapman), Lot 131: "1863 Uncirculated. Very rare." Realized $17.
• 1907-03: David S. Wilson Collection (S.H. Chapman), Lot 307: "1863 Uncirculated." Realized $24.
• 1918-00: Choice U.S. Gold, Silver and Copper Coins (Elmer S. Sears), Fixed price list: "1863 Brilliant Uncirculated gem specimen. $45." Sears was well aware of the great rarity of this coin and assigned to it one of the higher prices for Mint State gold dollars, but not quite as much as 1865 ($50).
• 1937-05: Dr. Clifton Wheeler, Sigmund Von Lieven and Dr. George Ross Collections (Thomas L. Elder), Lot 915: "1863 Uncirculated. (Chapman, 1907). Very rare."
• 1940-10: Fred W. Burton and G.B. High Collections (B. Max Mehl), Lot 534: "1863 Extremely Fine; sharp. Almost imperceptible nick on reverse edge. Very rare. Cost $30 in 1922. Now catalogs at $50 in Very Fine condition. One of our real rare gold dollars." Realized $25.
• 1944-12: J.F. Bell Collection (Stack’s), Lot 18: "1863 Brilliant Uncirculated gem." Realized $85.
• 1945-03: William A. Knapp Collection (B. Max Mehl), Lot 884: "1863 Very Fine. Extremely rare. Very limited coinage. Listed at $60 in this condition, but retails for more. The coin should bring $100." Realized $65.
• 1945-11: W.A. Philpott and Henry L. Zander Collections (B. Max Mehl), Lot 989: "1863 Just a shade from Uncirculated with considerable mint luster. Very rare. Listed at $75." Realized $67.50.
• 1947-06: Will W. Neil Collection (B. Max Mehl), Lot 2312: "1863, Uncirculated, frosty mint surface. From the Gillette Collection in 1924. Very rare. Catalogs $100, an advance of $25 over last year. In my opinion, worth considerably more." Realized $105.
• 1947-11 Mason Williams Collection (Stack’s), Lot 761: "1863 Brilliant Uncirculated with some minute nicks on edge, really choice. Rare." Realized $70.
• 1950-06: Menjou Collection (Numismatic Gallery), Lot 429: "1863. Rare. Has been bent but is Very Fine." Realized $51. Citation included to illustrate how a great ‘name collection’ could have a rather low level 1863 gold dollar.
• 1951-03: Marmaduke Fox Collection (M.H. Bolender), Lot 1218: "1863 Uncirculated. Very rare." Realized $95.
• 1955-04: 45th Sale (New Netherlands Coin Co., Inc.), Lot 769: "1863 Brilliant Uncirculated. A flawless little ‘gem,’ the reverse rather prooflike. Many times rarer than a Proof in this preservation, like so many other coins bearing this date. Worth $150, regardless of the price in either catalog."
Additional Information
Unexplained rarity: It is not known why the 1863 gold dollar is even rarer than its low mintage suggests. Perhaps citizens who wanted to buy gold dollars from the Treasury Department or through banks (see commentary under "Notes" for 1862) were given 1862-dated or earlier pieces. Or, perhaps several thousand 1863 gold dollars were stored by the Treasury, ignored, and then melted after the denomination was discontinued in 1889. I have never heard even a whisper of a hoard or small group.
Purchased from Joe Flynn, January 8, 1973.
Mint State 1864 Gold Dollar
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67 1864 MS-63. Soft frosty yellow gold lustre with minor abrasions as expected for the grade. A pleasing example of this scarce date with considerably sharp design definition. This issue is seldom seen in any grade, and is especially elusive in Mint State. Just 5,950 circulation strikes were minted at a time when the precious gold and silver metals were being hoarded.
Although the 1864 is not in the same rarity class as the 1863 in Mint State, it certainly is a runner-up. Examples on the market are few and far between, and when seen they usually do not hold a candle to the Bass coin offered here.
Obverse clashed with minor field striations visible on both sides.
From Stack’s sale of the Scanlon Collection, October 1973, Lot 1969.
Rare and Desirable 1865 Gold Dollar
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68 1865 MS-65 (PCGS). This is an exceptional gem example with fully prooflike fields and cameo contrast. Rich, deep yellow gold surfaces with very few minor blemishes. This is among the most attractive gold dollars in the present sale. From a mintage of just 3,700 circulation strikes with few survivors of this quality. This is the third gem quality MS-65 example of this issue to be offered among coins from the Bass Collection, two others appeared in Part II.
Heavy die polish lines are visible, especially on the reverse.
From RARCOA’s sale of the Kaufman Collection, August 1978, Lot 624.
Choice Mint State 1865 Gold Dollar
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69 1865 MS-64 PL. Fully prooflike with lustrous light yellow gold devices and exceptional cameo contrast. Very heavy obverse and reverse field striations are evidence that this was minted as a circulation strike. Sharply struck and fully detailed. Small defects at ES of STATES appear to be planchet defects present before this coin was struck.
From RARCOA’s 1975 CSNS Sale, April 1975, Lot 38.
70 1866 MS-62. Very pale yellow gold with satiny lustre and hints of lilac toning. Sharply struck and unquestionably a circulation strike, from a mintage of 7,100 such coins.
Light clash marks are visible only on the obverse.
From the gold dollar set purchased from Rowe and Brownlee, February 24, 1967.
71 1866 MS-61. Light yellow gold with moderately reflective fields. A few very minor hairlines and surface marks are visible. Very heavy obverse and reverse striations are noted in the fields. This is an attractive example.
Perfect dies without obverse clash marks.
From Stack’s sale of the Shapero Collection, October 1971, Lot 706.
Superb Gem 1867 Gold Dollar
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72 1867 MS-66 (PCGS). This superb specimen has highly lustrous, deep orange-gold surfaces with reflective fields and frosty devices. A few very minor surface imperfections appear to be from the original planchet, present at the time of coining. This is a very scarce issue with a circulation strike mintage of just 5,200 coins. There is no doubt about this coin’s status as a circulation strike, despite having reflective fields. These surfaces are not deeply mirrored as on Proof examples.
Superior catalogued this example in 1977 as: "Mint State 65. A blazing ‘first strike’ example. Lightly clash marked on both sides and the word LIBERTY can be seen in an arc under the date. Equal to the Rio Rancho specimen which realized $1100.00 two years ago. Only 5,250 struck [including Proofs] and among the finer coins known."
PCGS Population: 4; 1 finer (MS-67).
Prominent obverse and reverse clash marks include all of LIBERTY, below the date.
From Superior’s sale of the Davenport Collection, February 1977, Lot 645.
73 1867 AU-58. A pleasing example with frosty light yellow gold lustre and faint orange toning. Slightly weak on the highest hair details and lower wreath details. Lightly abraded with minor hairlines.
Light obverse and reverse clash marks.
From Stack’s sale of December 1972, Lot 516.
Outstanding 1868 Gold Dollar
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74 1868 MS-64. Wonderful light yellow gold lustre with reflective, lightly mirrored fields and lustrous devices. An attractive circulation strike, from a mintage of 10,500 such coins. This example has very light abrasions. According to notes recorded by Harry Bass, the thin vertical scratch on Liberty’s neck was actually a die characteristic.
Nearly perfect dies with traces of clash marks along Liberty’s profile.
From Stack’s sale of the Shapero Collection, October 1971, Lot 708.
Pleasing 1870 Gold Dollar
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75 1870 Proof-60. Pale greenish gold with mirrored fields and very lightly lustrous devices. A pleasing cameo example which has the earmarks of Proof gold. We are describing this as a Proof, however, would not quarrel with others who might suggest this is a business strike. Very sharp details. The reverse has a minor planchet disturbance at 9:00. Described by Stack’s as: "Proof, not in full brilliance, light rubbing in field. Struck in yellow gold with considerable Proof surface still apparent." A most accurate assessment in our opinion.
From Stack’s sale of the Alto Collection, December 1970, Lot 39.
Exceptional Mint State 1870-S Gold Dollar
Final Mintmarked Issue
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76 1870-S MS-64 (PCGS). A lightly reflective, slightly prooflike example struck in attractive orange-gold. Sharply struck with exceptional aesthetic appeal. A rarity with just 3,000 examples originally minted in San Francisco. The majority of the 40 to 50 survivors grade Extremely Fine to low level Mint State. This is one of the very finest examples we have handled. In fact, this is the single finest example to be auctioned in the past decade.
PCGS Population: 7; 3 finer (MS-66 finest).
Very faint clash marks may be seen on the reverse.
A numismatic reference has been recently compiled by Jeff Garrett and John Dannreuther, two highly accomplished professional numismatists. United States Gold Coinage, Significant Auction Records 1990-1999 provides comprehensive information regarding all United States gold coinage to appear for sale in public auction for the past 10 years. They have also compiled a similar volume for minor and silver coinage. We highly recommend these volumes for the serious student.
Notes about the 1870-S Gold $1
Circulation strike mintage: {3,000; possibly 2,000 without mintmark}
These were a popular curiosity in circulation in San Francisco in the 1870s and 1880s, and jewelers and others kept an eye out for them, resulting in many being saved, quite a few of which were employed in the making of pins, brooches, etc.
Estimated population (Mint State): 15 to 22. Mostly in levels such as MS-60 to MS-62. The number of different specimens of the 1870-S dollar known to exist is somewhat of a puzzlement. This issue has had much publicity over the years, and thus seems more prominent in printed listings that its true rarity suggests.
Estimated population (circulated grades): 60 to 90. Mostly in EF or AU grades. Some of the most important American cabinets have lacked a full Mint State coin. In addition to these, perhaps just as many others exist in impaired grades from use as jewelry. Many listings for such jewelry pieces have appeared in catalogues over the years.
In Major Varieties of U.S. Gold Dollars (1964), Walter Breen suggested that the rarity today of the 1870-S was not inconsistent with a mintage of just 1,000 coins.
Die data: In December 1869 two pairs of 1870-dated dies were sent from Philadelphia (where all dies were made, including for branch mints) to San Francisco, but inadvertently lacked the "S" mintmark. On May 14, 1870, this telegram was sent by the superintendent of the San Francisco Mint and received the same day in Philadelphia:
"LETTER S OMITTED ON ONE AND THREE DOLLAR DIES SENT TO THIS BRANCH FOR THIS YEAR. 2000 PIECES COINED. CAN THEY BE ISSUED. O.H. LAGRANGE SUPT."
Soon thereafter two more dies, these with the "S," were shipped by transcontinental railroad and arrived on May 28. Apparently, only one reverse die was used, with the "S" slightly repunched on the lower part. On May 27, the "S"-less gold dollar die and the $3 die in which an "S" had been cut by hand (in order to create an 1870-S $3 for placing in the San Francisco Mint cornerstone, were shipped back to Philadelphia.
Today, it is not known whether the 2,000 "S"-less gold dollars struck in San Francisco were melted, or if they were released. If the latter, then the mintage figure of 3,000 1870-S dollars would consist of 2,000 that appeared to be Philadelphia Mint coins (without mintmark) and only 1,000 appearing as 1870-S coins. As we go to press, Richard Oliver and Nancy Y. Oliver have just announced the release of their new book on the second San Francisco Mint, which includes certain of the above information.
1870 four-digit date logotype for the gold dollar: Date in bold figures, very closely spaced, each about the same distance apart. 1 with lower right serif slightly shorter and thicker than lower left serif, base of digit higher than adjacent 8. 8 with smaller top interior space than bottom space, leans slightly right. Fancy 7 with rounded base. 0 leans slightly right (best determinable by noting the orientation of the interior space) and with base slightly high. This logotype was used on all dies of the Philadelphia and San Francisco mints.
Characteristics of striking and die notes: Typically well struck.
Selected early circulation strike citations: Included are early offerings, listings with die descriptions, and citations for particularly high-grade specimens—plus some impaired coins (not usually cited in this text). All in all, a broad section of commentaries is given, although dozens more have appeared in print.
• 1905-09: XVIII Mail Auction Sale (Ben G. Green), Lot 140: "1870-S Uncirculated. Excessively rare. Has brought $110 at auction." Realized $125.
• 1906-05: XXIII Public Auction Sale, A.L. Schuyler Collection (Ben G. Green), Lot 337: "1870-S Very Fine. Faint solder spot on edge. Excessively rare. Record $125." For a long time the 1870-S was showcased as a key rarity, even when a damaged specimen was offered, as here. Many other damaged coins have appeared in sales over the years, but are not cited here.
• 1907-03: David S. Wilson Collection (S.H. Chapman), Lot 308: "1870-S Extremely Fine. Excessively rare." Realized $50.
• 1911-03: 48th Public Sale, William H. Woodin Collection (Thomas L. Elder), Lot 883: "1870-S. Uncirculated, mint luster. Record for this date made in one of my recent sales, $137.50. The second rarest gold dollar." Realized $100.
• 1913-05: Malcolm N. Jackson Collection (U.S. Coin Co., Inc.), Lot 353: "1870-S Very Fine and extremely rare." Realized $65. At this time the 1870-S was one of the most famous of gold coin mintmarks, and the appearance of a specimen at auction was always a special occasion.
• 1915-05: B.W. Smith Collection (B. Max Mehl), Lot 403: "1870-S Practically Uncirculated with considerable mint luster. Extremely rare. One of the rarest gold dollars of the entire series. Record over $100." Realized $52.
• 1918-00: Choice U.S. Gold, Silver and Copper Coins (Elmer S. Sears), Fixed price list: "1870-S Practically Uncirculated. Of great rarity. $110; Very Fine. Extremely rare. $75."
• 1920-01: Collection of Ancient and Modern Coins (Fred E. Merritt), Lot 235: "1870-S Very strong impression. Uncirculated. Mint luster. Extremely rare. Certainly a gem."
• 1922-12: H.E. Rawson, Dr. A. de Yoanna, and David Strasser Collections (B. Max Mehl), Lot 90: "1870-S Uncirculated, with bright mint luster, considerable Proof surface, the obverse could be passed as a Proof. Excessively rare and valuable, especially so in this wonderful condition. Old record well over $100." Realized $105.
• 1935-04: E.H. Adams and F.Y. Parker Collection (Thomas L. Elder), Lot 2309: "1870-S Sharp Uncirculated, a brilliant gem. We hold the record for this coin, $135, made at a former sale."
• 1935-05: J.R. Treadway Collection (Thomas L. Elder), Lot 1032: "1870-S Uncirculated. Very rare. Records to $135. Not the coin from last sale" [a note advising the cognoscenti that in this particular instance, the 1870-S was not an unsold lot that had been recycled into the next available sale—this being usual practice for Elder and many other dealers].
• 1937-06: Dr. Clifton Wheeler Collection (Thomas L. Elder), Lot 2123: "1870-S Uncirculated. Very rare. We hold the record, $135, made at our sale some years ago." Another: Lot 2691: "1870-S Bold and Uncirculated, brilliant gem. Records in our sales to $135 for this very rare coin. Should bring over $100 today wit our 59 cent dollar. Only 3,000 coined."
• 1937-10: Sale 380, Rare U.S. Gold and Silver Coins (J.C. Morgenthau & Co.), Lot 165: "1870-S Uncirculated, Proof surface. Very rare."
• 1938-03: A.R. Gray and D.P. Dickie Collections (Thomas L. Elder), Lot 2641: "1870-S Uncirculated, a gem. We hold the record $135 made in one of our sales. Our last offering sold for about $100."
• 1938-03: Samuel H. McVitty Collection (B. Max Mehl), Lot 190: "1870 S Mint. Extremely Fine, but unfortunately, holed at top of reverse. A perfect gold dollar of this date and mint retails up to $125.00. This coin is not worth anywhere near that amount, but it may make a good space-filler for a collector who does not care to pay $100 or more for a gold dollar." Realized $10.
•1939-10: Sale 405, Rare U.S., Foreign and Ancient Coins (J.C. Morgenthau & Co.), Lot 82: "1870-S mint. Uncirculated and very rare." Realized $55.
• 1939-11: William B. Hale Collection (B. Max Mehl), Lot 729: "1870-S The last year of issue, and by far the rarest. Perfect Uncirculated specimen, with full bright mint luster; as perfect a gem of this rarity as exists. Listed up to $150. If any 1870 S gold dollar is worth $150, this is certainly it." Realized $81.50.
• 1944-02: Belden E. Roach Collection (B. Max Mehl), Lot 1117: "1870-S The most beautiful and perfect specimen of this, the rarest gold dollar of this mint, that I know of. It is a perfect brilliant Proof. Raised borders. Perfect in every respect. It is supposed that no Proofs were struck at the branch mints. This may and may not be true, but this specimen is certainly everything I claim for it as above described. It is the most remarkable specimen of this rarity I have ever seen, and as such, it is worthy of a new high record for it. Specimens have brought $125.00 and have sold at private sale up to $150. Now listed at $150 for Uncirculated. Recent record, $155." Realized $185. This must have been a truly fantastic coin.
• 1944-12: J.F. Bell Collection (Stack’s), Lot 78: "1870-S Brilliant Uncirculated gem. The rarest in this mint’s series." Realized $160.
• 1945-03: William A. Knapp Collection (B. Max Mehl), Lot 891: "1870. San Francisco Mint. Brilliant Uncirculated with Proof surface, almost equal to a Proof. Excessively rare. One of the real rarities of this series. Record near $200." Realized $182.50.
• 1945-11: W.A. Philpott and Henry L. Zander Collections (B. Max Mehl), Lot 1044: "1870-S About Uncirculated with frosty mint surface. The rarest gold dollar of this Mint and one of the rarest of the entire series. Catalogs up to $150 in Uncirculated." Realized $100.
• 1946-06: William Cutler Atwater Collection (B. Max Mehl), Lot 2174: 1870-S. Brilliant Uncirculated. Very rare. One of the rarest of all branch mint gold dollars. Steadily advancing in value. Recent record $230." Realized $175.
• 1946-08: ANA Convention Sale (Numismatic Gallery), Lot 1247: "1870-S. None minted between 1860 and 1870. This date is the rarest gold dollar struck at the San Francisco Mint. A splendid brilliant Uncirculated specimen and highly desirable, despite faint obverse line." Realized $205.
• 1947-06: Will W. Neil Collection (B. Max Mehl), Lot 2373: "The very rare 1870 S. Mint gold dollar. 1870-S. Uncirculated with brilliant mint luster. The reverse is a brilliant semi-proof. One of our very rarest gold dollars with auction record well over $200. In much demand and value steadily advancing." Realized $166.75.
• 1950-05: Golden Jubilee Sale / Jerome Kern Collection (B. Max Mehl), Lot 308: "1870-S. The rarest gold dollar of this Mint and one of the rarest of the entire series. However, this is not the finest specimen. It is practically Uncirculated, but unfortunately it is plugged through TA in STATES but very skillfully re-engraved. In fact it is hardly noticeable. This coin had it not had the defect, would have been at least a $200 coin. An Extremely Fine specimen in my Dr. Green sale brought $225. This is a nice coin for the collector who does not care to invest $200 in a specimen." Realized $22.50.
• 1955-11: Farish-Baldenhofer Collection (Stack’s), Lot 1133: "1870-S Uncirculated with full lustre. One of the most difficult coins to obtain. Has very high auction records as well as private sales. Very rare." Realized $210.
• 1956-04: Thomas G. Melish and Clinton W. Hester Collections (A. Kosoff), Lot 1789: "1870-S. This is the last year during which gold dollars were struck at the San Francisco Mint. A sharp coin with mint luster. As few minor abrasions take it out of the Uncirculated class, but it is a beauty! Has records, in lesser condition, to $300." Realized $245.
• 1956-11: 48th Sale, [Thomas L. Gaskill Collection] (New Netherlands Coin Co., Inc.), Lot 900: "1870-S. Brilliant Uncirculated, prooflike lustre. The hypercritical perfectionist with a glass will see a few minute abrasions, doubtless inflicted in the bag, and an insignificant rim bruise or so. This coin is still the equal of any that we have seen, including two described as ‘gems.’ As dealer Kosoff said, in his catalogue of the Melish collection: ‘Has record, in lesser condition, to $300.’ In addition to the EF-AU Melish piece at $245., we have located 16 other records for the 1870-S gold dollar [An inadvertent reflection of the depth, or lack thereof, of Walter Breen’s reference library; 16 earlier citations found by him constitute but a small fraction of the public auction appearances before that time]. Two had loops removed, one was a plugged piece that made the round for years, and only three were described as brilliant Uncirculated. One of these was really nice, that being the ‘World’s Greatest Collection’ example sold in 1946 for $230. Dr. Green’s (Mehl, 1949), but Extremely Fine, realized $225." Realized $280.
• 1957-10: United States and Foreign Gold, Silver and Copper Coins (A. Kosoff), Lot 1343: "1870-S. This coin I consider Very Fine, but it has been polished and has a number of scratches on the reverse. However, it is the rarest gold dollar of the San Francisco Mint and is now quoted at $260 for Uncirculated, $140 for only Fine." The catalogue values of the time did not have a wide gulf between Fine and Uncirculated; emphasis on high grades would not become market-wide until the next decade and, in particular, not to its ultimate extent until the 1980s.
From Stack’s sale of the DiBello Collection, May 1970, Lot 569.
77 1871 MS-63. Sharply struck with deeply reflective yellow gold surfaces and considerable cameo contrast. The devices are highly lustrous light yellow. We debated regarding the status of Proof vs. circulation strike and after considerable discussion, decided that this should be described as a circulation strike. Others may feel differently. Described by Paramount as: "Uncirculated-70. Full prooflike surfaces and could be mistaken for a Proof."
The obverse has a long die line through Liberty’s ear and pointing to her eye. Numerous die polishing or finishing lines are visible on the reverse.
From Paramount’s sale of February 1973, Lot 970.
78 1871 MS-63. This is a wonderful example with satiny pale yellow gold lustre and exceptional aesthetic appeal. The O in DOLLAR and digits 87 are weakly defined. There should be no question that this is one of the 3,900 circulation strikes struck February 15.
With the same obverse and reverse die lines as on the prooflike example in the previous lot.
From Abe Kosoff’s sale of November 1968, Lot 1411.
79 1872 MS-60. Reflective deep yellow fields surround lustrous lighter yellow devices. The fields have heavy hairlines and abrasions. The upper left wreath details are poorly defined. A very rare issue with a mintage of only 3,500 coins. David Akers described this as one of his favorite dates among all gold dollar issues.
Perfect dies.
From Stack’s sale of May 1972, Lot 1572.
Choice Mint State 1873 Gold Dollar
Close 3 Rarity
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80 1873 Close 3. MS-63. This is a lovely example with satiny light yellow gold lustre and scattered surface marks, including a few very minor scratches. The mintage is recorded at just 1,800 coins, among the lowest totals for the entire denomination. LIBERTY is strong and complete, with digits 87 weak.
Discussion of this coin in the Paramount catalogue of February 1975 will give the reader an understanding of numismatic knowledge regarding this variety, discovered just 25 years ago. As you read the following, remember the comments regarding rarity and value were written in 1975.
The obverse has moderate clash marks.
"A close look at this coin will quickly indicate why the Mint changed from a Closed 3 to an Open 3 in the date. The balls of the 3 are so close together that the digit appears to be an 8. This coin is one of the most unpublicized rarities in the gold dollar series. Only 1,800 were minted and yet, incredibly, this coin catalogues at only 50% more than the very common Open 3 variety. Actually, it is very nearly 100 times as rare and should really be a several thousand dollar coin. (Note: Part of the problem arises from the fact that a number of 1873 gold dollars are offered as the Closed 3 variety when in reality they are just the Open 3 variety. The coin is so seldom available that many dealers have not seen one for comparison purposes.…) This particular piece has attractive green and gold toning as well as a number of light handling marks. There are also numerous clash marks above the Indian’s headdress and into the legend. Rare but unappreciated as such."
From Paramount’s Davies-Niewoehner Sale, February 1975, Lot 473.
Prooflike 1873 Close 3 Gold Dollar
From the Harry X Boosel Collection
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81 1873 Close 3. MS-62 (PCGS). Fully prooflike with deep yellow gold surfaces and outstanding aesthetic appeal. Slightly weak at the upper reverse wreath. Although certified as Mint State, this may be a Proof as recorded by Harry Bass in his notes. Believed to be a Proof by Mr. Boosel and by RARCOA, and catalogued by them as: "Only 25 struck as were all the gold Proofs of this year. Lovely Brilliant Proof with some hairlines and die lint marks, which are characteristically found on these Proofs."
Harry X Boosel (whose middle name is the letter X thus has no period after the letter as it is not an initial for some longer name) was known in numismatic circles as Mr. 1873. He collected all numismatic things bearing this date and was the party responsible for publicizing the Open 3 and Closed 3 varieties (although the distinction had been published years earlier by Thomas L. Elder).
Perfect dies. The first feather is incomplete, characteristic of Proofs of this era.
From RARCOA’s sale of the Harry X Boosel Collection, April 1972, Lot 670.
82 1873 Close 3. Net EF-45; sharpness of MS-60, cleaned. Mottled greenish yellow gold and deep lilac toning.
Perfect dies.
Purchased from Stanley Kesselman, August 28, 1978.
83 1873 Close 3. EF-45. Pale greenish gold with a trace of orange toning. Considerable lustre remains, especially in the protected areas. This is a very attractive example for the budget-minded collector.
Purchased from Stanley Kesselman, April 9, 1971.
84 1873 Open 3. MS-64. This delightful example has fully lustrous frosty yellow gold surfaces with very few blemishes. Very sharply struck with full LIBERTY.
Very faint obverse and reverse clash marks. Both dies have bulges at upper obverse and lower reverse. Left tops of second T and E in STATES and both left and right top of F are connected by die cracks to the border.
From RARCOA’s sale of February 1972, Lot 721.
85 1873 Open 3. MS-63. Frosty light yellow gold lustre with a few minor abrasions. A very attractive example with partial LIBERTY visible, specifically LIB.
Liberty’s neck is home to a long vertical die line.
From Lester Merkin’s sale of February 1972, Lot 339.
Exceptional Proof 1874 Gold Dollar
Mintage: Just 20
An American Gold Classic
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86 1874 Proof-64 (PCGS). This is a glittering cameo Proof in deep orange-gold. Sharply struck with a few very faint hairlines and tiny lint marks. Only L in LIBERTY is visible. In his notes, Harry Bass indicated that the small spot (a tiny polished area) at center of the neck just above the bust line is diagnostic of Proofs.
The 1874 Proof gold dollar is a fantastic classic, a landmark in any era. The present coin represents one of the most important opportunities in the catalogue you are now reading.
PCGS Population: 2; 1 finer (MS-65).
Purchased from Manfra, Tordella, and Brooks, March 28, 1979.
87 1874 MS-64. Highly attractive light yellow gold with reflective fields and considerable cameo contrast. A delightful candidate for the date or type collector. A few very minor surface marks are visible. Only the letter L in LIBERTY is visible, for reasons that are not completely clear. This is a characteristic of the issue, and is from the master die or possibly the hub, although we do not necessarily agree with the contention that either the master die or hub was "worn."
Perfect dies.
Purchased from Strauss Coin, December 13, 1971.
88 1874 MS-64. Sharply struck with exceptional frosty yellow lustre and very choice surfaces. This is a most pleasing example with sharp design definition. The L in LIBERTY is weak but visible.
Perfect dies.
Purchased from the Goliad Corporation, November 3, 1971.
89 1874 MS-63. Very slightly reflective yellow gold with strong design definition. Only the L in LIBERTY is visible.
Perfect dies.
From Stack’s sale of the Shapero Collection, October 1971, Lot 714.
Amazing Gem 1875 Gold Dollar
Prooflike Circulation Strike
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90 1875 MS-65 (PCGS). Fully prooflike with lustrous devices, an attractive cameo with light yellow gold and a hint of orange. This is a classic rarity among gold dollars, with a mintage of just 400 circulation strikes and another 20 Proofs, according to official records. Perhaps 50 examples survive, including both Proofs and circulation issues. This issue comes to market quite frequently given the mintage and population. In the past decade, 37 different appearances of Mint State examples have been recorded. This is the third MS-65 example offered as part of the Bass Collection.
In his lifetime Harry W. Bass, Jr., felt that if one rare coin was nice to own, two were nicer yet, and three were even finer! In a way this collecting philosophy paralleled that of Virgil Brand. For the bidder in the present sale, Harry’s wisdom in acquiring multiple examples of seldom seen coins pays a dividend in spades—pieces that normally are not available at all have come to market and can be now be acquired. Moreover, Harry Bass paid great attention to his coins, preserved them carefully, never cleaned or "improved" them, and was a wonderful custodian of his treasures.
Perfect dies with a tiny projection from the lower edge of Liberty’s jaw, characteristic of circulation strikes, according to Walter Breen.
Notes on the Circulation Strike 1875 Gold $1
Circulation strike mintage: (400)
There is no reason to doubt this figure. However, rather than being intended for circulation, it seems likely, at least to the writer, that some of these were struck for the numismatic market.
Estimated population (Mint State): 25 to 40, some of which have been called Proofs. All seen have had full prooflike surfaces. Probably, some of the Proofs listed in the past should be moved to the circulation strike category.
The number of extant prooflike Mint State coins vis-à-vis Proofs is a matter of debate and probably will never be ascertained. No matter. Mint State or Proof, the 1875 is the darling of the gold dollar series. For generations, this has been the one piece most admired—extending to years before such rarities as the 1860-D and 1861-D became recognized. Moreover, the 1875 is often seen in high grades, satisfying even the beginning buyer who, somehow, senses that a Mint State or Proof gold dollar is better than a rather rustic-appearing EF or AU 1860-D or 1861-D, the latter appealing to specialists and the cognoscenti, but not immediately to the investor or casual buyer—for reasons earlier noted in the present catalogue.
Estimated population (circulated grades): 30 to 40, mostly at the AU level, invariably with prooflike surfaces. The population of the 1875 circulation strike is difficult to measure, as the coins are rarities and have a high degree of visibility in print.
At least 10, perhaps more, are known that have been mounted for use as jewelry or are otherwise impaired; many auction offerings could be cited.
Die data: 1875 four-digit date logotype for the gold dollar: 18 close, 87 and 75 each wider at about the same distance. On 1 the lower left serif is longer than the lower right serif; a tiny thorn protrudes from the lower right serif and nearly extends to the adjacent 8. 8 leans right, top interior slightly smaller than bottom interior. 5 leans slightly right; ball at bottom minimal and very close to upright. This logotype was used on all dies.
Walter Breen has pointed out that Mint State coins have a tiny raised spine extending from Miss Liberty’s jaw into the field. Using this as a criterion, it seems that Mint State coins are fairly often available, although for many years before Breen published his comments (most recently they appeared in his 1988 Complete Encyclopedia) there were more Proof listings in auction catalogues. The certification services use the Breen criterion, and thus pieces listed as Mint State are with thorn.
The writer would not be at all surprised to learn that many of these with-thorn pieces were made specifically for the collector market and sold as Proofs, perhaps after the first run of with-thorn Proofs had been completed.
Characteristics of striking and die notes: Usually well struck and always with prooflike surfaces.
Selected circulation strike citations: A small selection (but proportionally larger than for other gold dollars of this era) from a large auction file of listings, the present citations emphasizing high-grade coins as well as listings that include die state descriptions. Among catalogue listings past and present, only a few discussed such characteristics; thus, in a proportional sense those cited here are not representative of a complete auction file.
It is to be remembered that for this and most other gold dollars of the 1870s and 1880s certain pieces now recognized as prooflike circulation strikes were catalogued as Proofs in the past; hence, certain pieces listed as Proofs in the separate category below may well be circulation strikes.
• 1889-05: Ancient and Modern Coins and Medals (S.H. and Henry Chapman), Lot 402: "1875 Very Fine. Very rare." Realized $9.75.
• 1901-04: C. Wesley Price Collection Part II (Lyman H. Low), Lot 611: "1875 Extremely Fine. The very rarest issue of the series, from the Philadelphia Mint." Realized $42.50.
• 1904-04: John G. Mills Collection (S.H. and Henry Chapman), Lot 655: "1875 Uncirculated, with Proof surface. Extremely rare." Realized $45.
• 1905-11: Philip D. Hoch Collection (Lyman H. Low), Lot 547: "1875 Fine, although loop removed. Only 420 coined; 1,216 less than the most precious date; rarest of Phila Mint." Realized $32.
• 1906-11: R.B. Leeds Collection (Henry Chapman), Lot 102: "1875 Very Fine. Very rare. Only 420 coined!" Realized $48.
• 1909-06: Collections of Coins (Henry Chapman), Lot 5: "1875 Very Fine. Hole at T of STATES, and which letter is cut out. Extremely rare, only 540 [sic] coined."
• 1910-10: Major Richard Lambert Collection (S.H. Chapman), Lot 147: "1875 Very Fine. Proof surface. Small nick on rev. rim. Extremely rare, only 420 coined."
• 1911-11: W. B. Guy Collection (Henry Chapman), Lot 1003: "1875 Has had a loop broken from edge, and in the process had taken a chip out of the edge; it has also been plugged at T in STATES. Outside of these defects it is Very Fine. Extremely rare."
• 1920-11: R.V. Mathieu and E.B. Townsend Collections (Thomas L. Elder), Lot 1724: "1875 Lib. Head. Value. Neatly plugged near edge, otherwise fine. Extremely rare. Our last record was around $110 for a Proof of this date. Few have it and few are turning up."
• 1929-05: Frederick G. McKean Collection (Henry Chapman), Lot 544: "1875 Extremely Fine. Has been a Proof. Slight scratch behind head. Extremely rare." Realized $61.
• 1933-05: R.C. Browning Collection (Thomas L. Elder), Lot 753g: "1875 Rarest of all Philadelphia Mint dollars. Very Fine. Only 420 struck."
• 1940-09: 54th Catalogue Sale (Barney Bluestone), Lot 733: "1875 Strictly Very Fine. Rarest Philadelphia Mint Dollar."
• 1940-11: 56th Catalogue Sale (Barney Bluestone), Lot 755: "1875 Strictly Very Fine. Rarest dollar of the Philadelphia Mint."
• 1943-09: 78th Catalogue (Barney Bluestone), Lot 822: "1875 Bold Date. Strictly Fine. The rarest dollar of the Philadelphia Mint and in greater demand than ever. Only 420 issued."
• 1944-12: J.F. Bell Collection (Stack’s), Lot 30: "1875 Absolutely Perfect gem, beautiful luster. Rarest of the Philadelphia Mint, this coin has records as high as $275." Realized $210.
Additional Information
Low mintage: With a combined mintage of 420, representing 400 circulation strikes and 20 Proofs (per conventional wisdom), the 1875 gold dollar is one of just a handful of American gold coins with a production below the 500 mark. At the time the Treasury Department had a generous supply of gold dollars on hand from the largely undistributed mintages of 1873-4.
Off-metal strikings: Strikings from Proof dies were made in aluminum and copper. Some of these have been gold plated. These can be identified by their light weight; gold strikings weigh 25.8 grains. These are highly desirable and collectible in their own right, being rarer than gold impressions (but generally bringing less money in the marketplace).
Considered rare in 1903: In August 1903, Augustus G. Heaton contributed an article to The Numismatist, "Eccentricities of Coin Valuation." Gold coins were among the items discussed: "As gold collecting is generally the interest of the more experienced class, its branch as well as Philadelphia rarities are fully appreciated, and such pieces as the Philadelphia Mint double eagle of 1883, the eagle of 1875, the half eagle of 1887, the $3 or $1 of 1875, and the S mint quarter eagle of 1858 [The 1858-S $2.50 did not exist, but Heaton was unaware of this], the S mint dollar of 1870, the D mint dollars of 1855, 1856, and 1861, would raise the numismatic temperature of an auction room to fever heat."
Purchased from Abe Kosoff, August 1973.
91 1876 MS-64. This is a lovely example, with outstanding satiny light yellow lustre. Frosty devices provide a level of cameo contrast which adds to the aesthetic appeal of this example. Weakness is noted on the Indian’s plumes and the ribbon bow. A scarce date that is always popular due to its being struck in our centennial year, a popular collecting specialty.
Perfect dies.
From Lester Merkin’s sale of June 1972, Lot 351.
92 1877 MS-63. Sharply struck although the digits 87 are weak. Delightful satiny yellow gold with very choice surfaces. Only a few minute abrasions and hairlines may be seen. A scarce issue with a low mintage of 3,900 circulation strikes.
Perfect dies.
Purchased from RARCOA, July 1972.
Gem Mint State 1880 Gold Dollar
Tantalizingly Low Mintage
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93 1880 MS-65 (PCGS). Sharply struck and fully prooflike with rich orange-gold surfaces and few minute blemishes. Considered a Proof example by Harry Bass, and we tend to agree with his assessment. Only 1,600 circulation strikes were minted, with a very large percentage of survivors. Among Proofs of this issue, only 36 were struck. The low mintage of this issue has always been a beacon, and year in and year out examples of the 1880 gold dollar have been objects of great desire. Quite a few still remain, a fortunate situation, as just about anyone has a chance to acquire a lovely specimen.
Perfect dies.
Purchased from RARCOA, July 24, 1972.
Mint State 1880 Gold Dollar
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94 1880 MS-65. A gem example with soft frosty lustre and exceptional aesthetic appeal. Unquestionably a circulation strike although with slightly reflective fields and considerable cameo contrast. Throughout the 1880s, most circulation strike survivors are actually Mint State. Very few of these coins actually circulated in their days. Since many of the survivors during all these years are highly prooflike, they have often been catalogued as Proofs. With standards of observation constantly improving, the characteristics between Mint State and Proof are much more highly defined than ever before. And even today, it is not always possible to make the determination.
Slightly recut inside lower loops of 88.
From Stack’s sale of the Miles Collection, October 1968, Lot 69.
95 1880 MS-64 PL. Possibly a Proof example; the determination will be left to the buyer. Exceptional bright yellow gold with mirrored fields and lustrous, frosty devices. A lovely cameo. A faint scratch is noted in the lower left obverse field. A few other very minor abrasions are noted.
Perfect dies.
Purchased from Abe Kosoff, August 1973.
Fantastic Gem 1881 Gold Dollar
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96 1881 MS-68 (PCGS). This is the finest quality gold dollar in the entire Bass Collection, the only coin to garner the elusive 68 grade, whether Mint State or Proof. Truly a coin for the connoisseur. Amazing satiny orange-gold lustre with frosty devices. Very faint bluish haze is noted on the obverse, characteristic of pristine gold coins. Sharply struck with full definition on obverse and reverse. Correctly catalogued by Superior in 1973 as: "A superb ‘First Strike.’ Choice Prooflike Uncirculated. Beautifully toned."
PCGS Population: 13; none finer.
From Superior’s sale of the Gilhousen Collection, February 1973, Lot 81.
Gem Mint State 1881 Gold Dollar
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97 1881 MS-65. This is a lovely, sharply struck gem with outstanding satiny orange-gold lustre. A few minute surface marks are visible. Once considered a rarity, this issue in gem quality is now only considered scarce. Most survivors are Mint State.
Right upper and lower loops of each 8 are slightly recut.
Purchased from RARCOA, July 24, 1972.
98 1882 MS-64. Brilliant and satiny light yellow gold lustre with choice surfaces exhibiting only a few tiny abrasions. A lovely example from a mintage of just 5,000 coins. Extremely sharp strike. This date is much scarcer than either 1880 or 1881, however, is priced about the same.
The lower portions of 882 are lightly filled. Otherwise perfect dies.
Purchased from RARCOA, August 1973.
Outstanding 1883 Gold Dollar
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99 1883 MS-65. An exceptional circulation strike with frosty orange-gold lustre and very few trivial blemishes. Very sharply struck with nearly complete LIBERTY. A short lint mark spans the distance from right base of large 1 to top of A in DOLLAR.
Perfect dies.
Purchased from RARCOA, July 24, 1972.
100 1883 MS-64. Sharply struck with light yellow gold surfaces and reflective fields. Minor abrasions are visible, including a small mark on the border over first T in STATES.
Perfect dies.
From Stack’s sale of May 1971, Lot 1207.
101 1883 MS-64. Reflective light yellow gold with mirrored fields and lustrous devices. A cameo prooflike example.
Perfect dies.
Purchased from Stanley Kesselman, December 21, 1971.
Lovely Proof 1884 Gold Dollar
Doubled Date
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102 1884 Breen-6107. Doubled Date. Proof-62. A lovely deep yellow gold Proof with mirrored fields and lustrous devices. Considerable cameo contrast. A few faint scratches and other trivial blemishes keep this from a higher grade. Walter Breen noted that this Doubled Date variety exists only in Proof, however, examples in Part II of the Bass Collection were from this same die yet had frosty lustre. The Proof mintage of 1,006 marked a substantial increase from previous years.
The date is doubled, slanting sharply up to the right. The preliminary digit 1 is about half its length too low while the 4 is slightly high.
From the set of gold dollars purchased from Rowe and Brownlee, February 24, 1967.
103 1884 MS-63 PL. Satiny and reflective light yellow gold fields with frosty devices. Very minor surface imperfections are noted.
Perfect dies.
Purchased from RARCOA, August 1973.
104 1884 MS-62 PL. Fully prooflike and highly attractive. Sharply struck in light yellow gold with trivial surface marks and minor hairlines.
Perfect dies.
Purchased from Stanley Kesselman, December 21, 1971.
Superb Mint State 1885 Gold Dollar
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105 1885 MS-66 (PCGS). A fully prooflike gem in deep yellow gold with exceptional cameo contrast. Sharply struck and virtually perfect in every regard. With the appearance of a Proof, but we agree with PCGS, that this is a circulation strike.
Perfect dies.
From the set of gold dollars purchased from Rowe and Brownlee, February 24, 1967.
106 1885 MS-63. Light yellow gold with very minor obverse brush marks and other insignificant blemishes. Lustrous light yellow gold with reflective, mirrored fields.
Moderate reverse clash marks.
From Stack’s sale of the Alto Collection, December 1970, Lot 51.
107 1885 MS-63. A lightly prooflike light yellow gold example with considerable cameo contrast. Sharp design definition with a few very minor hairlines and trivial abrasions. A prominent curved lint mark is inside the upper left branch of the wreath.
Purchased from RARCOA, August 1973.
Superb Gem Mint State 1886 Gold Dollar
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108 1886 MS-66. This wonderful gem has satiny, slightly reflective light yellow gold surfaces with minute abrasions. Sharply struck with considerable aesthetic appeal.
Lightly clashed at digit 6 in date.
From Lester Merkin’s sale of April 1970, Lot 641.
109 1886 MS-62. Light yellow gold with moderate hairlines and abrasions. A scarce issue from a mintage of just 5,000 coins.
Light clash marks below digit 6 give the appearance of recutting.
Purchased from RARCOA, August 1973.
110 1887 MS-64. Sharply struck with frosty orange-gold lustre and trivial blemishes. This is a most attractive example for the date or type collector. Seldom found with frosty lustre.
Perfect dies.
Purchased from Mal Varner, April 21, 1972.
Choice Proof 1888 Gold Dollar
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111 1888 Proof-63. Very light greenish gold with deeply mirrored fields and a few faint hairlines at central reverse. Minor lint marks and planchet flakes are characteristic of Proofs from this era. Wonderful cameo contrast. ERT in LIBERTY weak, although this is not suggestive of a weak strike, for all other details are bold.
Perfect dies.
From Paramount’s sale of February 1971, Lot 986.
Gem Mint State 1889 Gold Dollar
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112 1889 MS-65. An outstanding example with frosty pale yellow lustre and superb surfaces.
A few trivial obverse and reverse die cracks are noted.
From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 1681.
113 1889 MS-64. Satiny light yellow gold with very minor abrasions. Very slight cameo contrast is noted. ERT in LIBERTY are weak, characteristic of both Proofs and circulation strikes. The mintage of 28,950 was the highest production in the last 15 years of the gold dollar denomination.
A very faint die crack connects the upper left and right wreath leaves, above the tassels.
From Stack’s sale of the DiBello Collection, May 1970, Lot 591.
