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Sale 16
Pre-Long Beach Coin and Currency Auction
| Lot |
Photo |
Description |
Realized |
Lot 451 |
 |
1794 Flowing Hair Dollar. PCGS graded VF-20. The first year of issue and always in feverish demand as only 1,758 were struck, of which approximately 130 are known today in all grades. Precious few to represent this the "unit" of our coinage and the first year they were struck. This particular example has a good strike on Liberty's hair and the stars on the left side (normally very weak) are all present, although adjustment marks weaken the left side of each star. The date is clear although the bases of the digits have worn away. Similar on the reverse where the tops of the letters in UNITED STATES OF AMERICA are weak or missing, typical of this date. Toned with antique silver hues, the devices are highlighted by dark outlines which makes them appear bold and gives the coin the appearance of being very sharply struck. An important offering in all grades, this relatively affordable example will no doubt find many eager suitors looking for success.
Estimated Value $50,000 - 60,000.
Ex: Thomas L. Smith Sale, Stack's 6/15/57:973; next Milo F. Snyder sale, Stack's 4/29/87:305; Hertiage's December 1987 Sale, 12/10/87:708 to John Koppell; next appearance Bowers & Merena's Brook's Collection Sale, 6/11/89:143; probably other appearances unknown: our current sale. (Our thanks to the late Jack Collin's for the research used above from his yet unpublished manuscript).
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| Unsold |
Lot 452 |
 |
1795 Flowing Hair Dollar. Two leaves beneath each wing. PCGS graded EF-45. Light golden toning over frosty luster in the protected areas. This is an impressive and totally defect free example of this common variety. No adjustment marks or rim bruises to distract, and the strike is full and complete save for the rim, which is always a little weak in areas on this die marriage. As a variety, this die pairing comes well struck as seen here, with strong detail on Liberty's curls and on the reverse we note that most of the wing and breast feathers can be seen. Purchased as AU back in 1977, and with enough luster and device detail to perhaps still qualify at that level. As nice for the grade as a collector is likely to find.
Estimated Value $7,000 - 10,000.
Purchased from Bowers & Ruddy's Getty Collection Sale, May 6, 1977, lot 1684 and given to the consignor as his San Marino High School graduation present from his parents, from the San Marino Collection.
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| Realized
$9,200 |
Lot 453 |
 |
1795 Flowing Hair Dollar. Silver plug. PCGS graded VF-35. An extremely rare coin of which just two are known with the heavy die crack on the reverse, and this is by far the finer of the two. Further, this is a rare "silver plug" example, with approximately 33 graded in all grades between both PCGS and NGC! Toned with satiny gray hues with traces of glowing gold near the lettering, stars and devices. Boldly struck by the dies, with no signs of weakness to be found. The silver plug measures 11 millimeters, which is the largest yet noted of any we've been able to trace. Of the silver plug examples known, most are found on B-7, BB-16, next on the B-1, BB-21 variety, each with less than a dozen seen. This variety is also known to come with the silver plug, and Bowers believes after extensive study that this was the first variety struck in 1795. The obverse die was coupled with a total of 3 reverse dies, and it was not known until recently why the reverse die was changed. A large die crack appeared from the rim touching the serif of the C in AMERICA nearly to the eagle's lower right wing near his body. The only other example to display this crack was a nicked up F-12, Bowers 5/21/01:1.
Estimated Value $12,000 - 18,000.
Ex: Stack's 9/12/2000:570 via Jonathan Kern to the San Marino Collection.
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| Realized
$17,825 |
Lot 454 |
 |
1795 Flowing Hair Dollar. Silver plug. PCGS graded EF-45 "Silver Plug". Frosty luster in the fields and with a prominent silver plug visible on the obverse and reverse. In fact, the plug measures approximately 10 millimeters in width. Fairly well struck for this variety, with most of the curls showing separation on Liberty. Traces of darker toning reside near the legends and devices, and these combine with the devices to produce a bold appearance on this coin. Bowers noted the coin has a tiny rim clip at 9 o'clock on the obverse, which can barely be seen in the holder. Known as the "hidden star" variety, as this is the only obverse die with the final star (fifteenth) placed entirely below the tip of Liberty's bust, and is thus hidden from Liberty's view.
For decades collectors did not understand what the silver plugs were, many numismatists had seen the curious circles on a few 1795 flowing hair dollars, but no explanation was forthcoming. Q. David Bowers first described these curious circles on 1795 silver dollars in 1981. A decade later, Tom DeLorey, Kenneth E. Bressett and Roger W. Burdette discussed these with Bowers and speculated that the silver plugs were actually inserted into light weight planchets prior to striking, to bring the planchet up to or above the required weight standard, adjusted the planchet down if necessary (prior to striking), then the coin was struck which flattened out the silver plug. Silver plugs are visible on both sides of the coin, normally in complete circles both in the fields and on the devices, and normally show ragged edges and are not in perfect circles. It is theorized that the technology existed for this procedure, as a similar process was used on the 1792 silver center cent, where a small silver plug was inserted to the center of the copper coin to bring up the value to 1 cent, and the planchet was then struck. It would make sense to drill out the center of a light weight planchet, insert a heavier silver plug, and strike the coin, this would save melting, drawing and recutting the planchet all over again, which given horse drawn equipment, the idea of using the silver plugs doubtless saved a great many steps. Nevertheless, the plugs were used sparingly. As no one paid attention to how many silver plugs were out there until the last decade or so, the known population remains speculative, but we note a total of 29 graded by both NGC and PCGS combined in all grades. Hence, these are very rare, and almost all seen are on the B-1 and B-7 (BB-21 and BB-18) varieties, with a few more found on the scarce B-3, BB-1; B-9, BB-13 and perhaps two known on the B-4, BB-14 variety. Notably, there is a minor typo in the Bowers reference on page 185 in the second footnote on silver plugs, where Ken Bressett is noted to have examined 3 silver plugs of BB-12 (B-11), this almost certainly should have been BB-21, B-1, which is known to come with silver plugs, while the BB-12, B-11 does not. Further, the BB-12, B-11 is extremely rare and there have scarcely been 3 coins offered in the past 3 decades, none of which show evidence of silver plugs. The cataloger believes the Amon Carter 1794 silver dollar may also have a silver plug, but it has not been available recently for examination, but reviewing the photographs in that famous Stack's sale certainly give the appearance of a silver plug on the obverse and possibly the reverse. No other dates have been confirmed as of yet to show silver plugs aside from 1795 Flowing hair coins. Remarkably, 3 Flowing hair half dollars have been found with silver plugs in recent years, all of the Overton-130 variety.
As a variety, B-4 or BB-14 is scarce and can be located in high grades with patience. However, securing a silver plug example of this die pairing is very challenging, in fact this the only one we were able to trace, and it may be the same coin mentioned in the Bowers book that was examined by Ken Bressett with a silver plug of this variety. While PCGS does not yet differentiate between die varieties with silver plugs, we do know that they have only graded 19 "silver plug" examples so far in all grades. Known silver plugs, including the controversial and recently graded PCGS VF-25 silver plug B-5 BB-27 offered in Superior's 2002 ANA Sale, lot 1057 (the lot was unsold). It is this cataloger's opinion that this coin does not have a silver plug, as the plug was only visible on one side, and often light circulation damage gives a very deceptive appearance of a silver plug.
Only 2 silver plugs have been graded by PCGS as EF-45, with 6 in various AU grades above, and a single mint state coin seen at the top as MS-64. Certainly not many to go around if you want a nice example! Most of the silver plugs seen are the B-7 or BB-18 variety, with the B-1, BB-21 next most commonly seen with a silver plug. It is estimated that approximately 70 to 100 silver plugs exist in all grades for all varieties. The most recent relevant sale of a silver plug in high grade was the 1795 B-7, BB-18 which was PCGS graded AU-50 in Heritage's Silverman Sale, April 25, 2002: 4005 and that coin realized $34,500 in spirited bidding. At last these silver plugs are attracting the attention they deserve! A foremost opportunity for the silver dollar specialist.
Estimated Value $15,000 - 25,000.
Purchased from Bowers and Merena's Rossi & Wilson Sale, May 31, 1997:1384, and possibly the same B-4, BB-14 mentioned by Ken Bressett in the Bowers book with a silver plug. No others noted with silver plugs have been located of this variety in any grade and from the San Marino Collection.
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| Unsold |
Lot 455 |
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1795 Flowing Hair Dollar. 3 leaves beneath each wing. NGC graded MS-63 Premium Quality. A frosty and choice example of this date that will undoubtedly be a highlight of an advanced collection. The strike is sharp for the variety, with full separation on Liberty's curls, and on the reverse most of the breast feathers are present on the eagle, although a few are missing because of light adjustment marks which cross his proud breast. Toned with light gold over abundant luster, we note a touch of blue starting to form around the edge over LI.
Quickly identifiable by a planchet flaw which connects stars three and four on the obverse, and a similar minor flaw which extends the left branch end down to the rim. In NGC holder number 1667228-001.
Although a very common variety, there are very few found that qualify as mint state. NGC has graded only 7 this high, with 10 graded a notch higher, and 4 more in various grades above for this date. Naturally, the flowing hair design was used for just two short years, changing in late 1795 to the draped bust, small eagle design. Only when truly great collections are sold does a coin of this quality show up. The surfaces are quite choice, with no distracting marks or problems to be found, even with the aid of a strong glass.
Silver dollar production had to wait until a large enough coining press could be obtained by the fledgling Philadelphia Mint, and the first issue of 1794 silver dollars was done on a press that was inadequate, and hence most of those are weakly struck. In mid 1795 the larger coining press arrived, and "unit" or silver dollar coinage began in earnest. Most of the dies failed quickly, and 1795 is a very difficult year to locate some of the scarce varieties, some of which are represented by a single surviving coin. Several die pairings have less than 10 known! This is not the case for the B-5, BB-27 variety offered here, for these were the marathon dies that wouldn't die, so to speak, and Bowers estimates that over 100,000 were struck of this die combination, making it one of the most common die pairings of the entire bust dollar series. The dies are quickly recognizable by a thin die scratch caused by the slip of an engraving tool (most likely) in the field just behind the highest back curl on Liberty's head. The reverse die has 3 leaves below the eagle's spread wings, and the berries on the branches are arranged 7 on the left branch, 6 on the right. Both dies show light rust, which is common as the summers in Philadelphia are very humid. Thought to have been one of last flowing hair varieties coined during 1795. Although a common die pairing, in mint state grades, even this die variety is rare, and we expect this one to generate feverish bidding by those who demand quality. While not a part of the San Marino Collection, this quality will certainly bring out the major players in the Bust dollar market.
Estimated Value $65,000-UP.
No pedigree information available, but should be easy enough to trace given the minor planchet flaw between stars three and four on the obverse.
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| Unsold |
Lot 456 |
 |
1795 Flowing Hair Dollar. Two leaves beneath each wing. PCGS graded EF-40. Choice for the grade with lovely dark gray toning in the fields, lighter silver on the devices. Boldly struck, and we note doubling through IBERTY, as the obverse die was breaking in two and must have shifted slightly during the dynamics of striking this specimen (the Blevins coin also exhibited this same doubling). Identifiable by a small series of marks below Liberty's eye, and these may have been caused during the recovery of this coin and the other bust dollars after the Ostheimer robbery in 1968. On the reverse, there is a small crossing pin scratch between the CA of AMERICA and a dull nick crossing the eagle's neck. The obverse die was used to produce only this variety, all known show a bisecting die crack through Liberty's head running diagonally through Liberty's forehead below the R of LIBERTY to her shoulder just above the 1 in the date. This crack likely terminated the obverse die use accounting for the rarity of this die variety. The reverse die was used to produce just 2 varieties, this and the extremely rare B-20 or BB-16, of which just 3 are known (2 of which are damaged, and the best one not seen in over 20 years). We also note a thin die scratch (not a die break) left of the first A of AMERICA, which is seen on all examples using this reverse die. Valuing this coin is virtually impossible. Were this a large cent, it would easily break a six figure price given its rarity and pedigree, and as Early dollars are finally widely collected, we expect coins like this to soon break that barrier. The consignor has owned 3 of the known B-8, BB-15 examples, the present example, a second example which was purchased unattributed in 1989 and sold where it resides in a famous East Coast Collection, and the Blevins (Superior 6/88:3590) specimen, which is a high technical grade but has been buffed severely in the right obverse field to remove scratches or initials, that coin was sold when the Willasch coin was secured by the consignor in 1990. None of those seen or examined exhibit the silver plug feature. In the past decade, a number of new bust dollar varieties have been discovered or finally turned up at auction, such as the 1795 B-18, BB-17 Eliasberg, the B-20, BB-16, a new discovery called B-21 and yet another called B-22. 1796 also saw some action as well, where 3 of the extremely rare B-6, BB-64 coins have been found in all, and at long last a B-3, BB-62 turned up after 27 years since the last sale of one. All of these listed varieties are still listed as R-8, with 1 to 3 known of each die pairing. For reasons entirely unknown, most of these coins show damage, often initials or are holed.
This situation is similar for the 1795 B-8, BB-15. Of the 5 known examples, 4 are damaged, and only this specimen has been found in comparatively normal circulated condition to represent the variety! Here is the roster for the known specimens: 1) The present coin, Ex: Boyd, Friedman, Austin, Bolender, Ostheimer, Willasch to the San Marino Collection, PCGS graded EF-40. 2). East Coast Collection, Net F-15, light initials or scratches buffed out of hair on obverse, purchased unattributed June 1989 Long Beach show by the San Marino collection owner. 3). The Blevin's coin, Net F-12, heavy buffing in the right obverse field to remove scratches or initials, East Coast Collection. Purchased at the Blevin's auction by the San Marino Collection, then sold when the Willasch coin was purchased in 1990. 4). The Fox/Spies/Sterling example, gorgeous toning, but severely marred by 3 obverse and 7 reverse punch mark dents, last auctioned: Heritage 2/86:1321, Net VG-8. 5). East Coast Collection, double struck (!) and counterstamped "Brinsmaids" on the obverse, net AG-3.
This is the Plate coin in the Bolender Reference, both obverse and reverse, and is the plate coin in the Bowers Silver Dollar Encyclopedia as well, and is used for the composite reverse for the BB-16 as well. This coin has been owned by a great many famous collectors in the past, and is the centerpiece to the San Marino Collection. Considered by the consignor to be the most important coin in his collection for rarity and pedigree and he affectionately calls it "The Coin".
Estimated Value $75,000-UP.
Ex: World's Greatest Collection Sale, F.C.C. Boyd, Numismatic Gallery, 1945:9; Numismatic Gallery's 1949 ANA Sale of the Adolph Friedman Collection, lot 143; purchased by M. H. Bolender and sold in his 183rd sale, lot 9, to K. P. Austin, sold to A.J. Ostheimer, III, next in Superior's 1975 ANA Sale, August, 1975:801 to H. Roland Willasch, Superior May 1990:446 to the San Marino Collection.
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| Unsold |
Lot 457 |
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1795 Flowing Hair Dollar. Two leaves beneath each wing. PCGS graded EF-45. This particular specimen is believed to be the second finest known of this extremely rare variety. Lovely steel gray in color, with lighter silver on the devices. Splendid color and strike and totally free of adjustment marks or distracting circulation ticks. This is the Bowers Borckardt plate coin and was purchased from the Brooks collection sale in 1989. Fully struck by the dies, with sharp details on Liberty and the eagle. The date and peripheral lettering are drawn towards the edge. As a variety, this was struck after the common B-1, BB-21 variety, with the obverse die being used to coin this die pairing coupled with a new reverse die. The dentils at the top of the obverse, and bottom of the reverse are always weak, but strong elsewhere. Note that the 7 over 1 in the date is weaker than seen on the B-1, BB-21 example in this sale, indicating a later obverse die use here.
Bolender noted that the reverse has 19 berries, but no one can figure out where the additional berry is supposed to be, much less find it, and hence this remains the only 9 X 9 berry reverse die. A few leaves are weakly impressed into the die, or the die was lapped prior to any coins being struck, and one of these broken leaves may have been confused with a berry by Bolender. In particular, note the broken leaves just below the right wing of the eagle, and this is a likely candidate for Bolender's 19th berry.
Numismatist W. David Perkins thoroughly researched this variety, and estimates the known population to be 10 coins today. One of the ten is counterstamped "1793", and another has disfiguring obverse field scratches, leaving very few for variety collectors to fight over. The Perkin's article was published in the John Reich Journal, July 2000 with a follow up published in the same Journal July 2001. The census now reads: 1). Finest: MS-60+ prooflike, WGC/Bareford/San Marino Collection, Stack's 400th Sale, 1/88:1166. 2). PCGS EF-45 Brooks/San Marino Collection; the specimen here offered. 3). The Bolender specimen, three adjustment marks through the eagle's tail, Midwest Specialist's Collection. 4). The O. K. Rumbal/Blevins Specimen, Midwest Specialist's Collection. 5). PCGS VF-35, Goldberg's 5/01:843 at $13,225 to the Cardinal Collection, Superior's Elite Sale, Jan 9, 02:1177 not sold: Heritage's Central States Sale, April 2002:6688 at $13,800. 6). NGC VF-35, sold privately by J.J. Teaparty, Liz Coggans to an East Coast Collection. 7). VF-20, East Coast Collection, NERCG 8/79:1027. 8). NGC F-15, Bowers sale, 5/01:2 at $4,830. 9). Fine-12 with obverse scratches, sold 1982 Heritage ANA, cataloged as a B-1 (!). Owned by the San Marino Collection from 1979 until the Bareford coin was purchased in 1981. 10). Obverse Counterstamped "1793", purchased from Ebay in 2001 at the bargain price of $601.50.
The Haseltine specimen was likely the WGC/Bareford coin above or one of the other listed above. A highlight of the San Marino Collection, and worthy of a very strong bid.
Estimated Value $15,000 - 20,000.
Ex: Bowers & Merena's Brooks Sale, 6/11/89:160 to the San Marino Collection.
View details and enlarged photos
| Realized
$14,950 |
Lot 458 |
 |
1795 Flowing Hair Dollar. Two leaves beneath each wing. PCGS graded VF-25. Dark steel gray in color with slightly lighter devices as compared to the fields. An extremely rare variety that hasn't been offered at auction in more than a dozen years to the best of our knowledge! This specimen is identifiable by a thin field scratch from near the tip of Liberty's nose to the twelfth star, and there are some other faint circular pin scratches in the left obverse field and above Liberty's head. As noted in the prior lots, many of these extremely rare 1795 dollar varieties are found with moderate to severe problems, and while these scratches are present on this coin, they are neither deep nor very distracting. There are no rim problems or adjustment marks, and about average marks for the grade assigned by PCGS. Problem free on the reverse and well struck on all the devices. Identifiable by a tiny nick on the dentil below the lowest outer star point, and the light scratches as noted. Close examination will note a small crescent just below and right of Liberty's ear, we do not feel that this is a silver plug, as it is too small, and would be slightly off center, plus there is no trace of a plug on the reverse. No silver plugs are reported on the few known coins of this variety. The condition census for the variety is as follows: 1). EF-40 Finest seen, Superior's Wyatt Sale, to W. K. Raymond to Woody Blevins privately, Superior's Blevin's Sale, 6/5/88:3593 to an East Coast Collection. Reported in the John Reich Journal ("JRCS") Bust Dollar Survey. 2). ICG XF-45 the H. Rolland Willasch specimen, Superior's Willasch Sale, 5/27/90:449 to an East Coast Collection. 3). EF-40, the Bolender coin: Chapman's Earle Sale, 1912: Bolender's 183rd Sale, 1952:13, K.P. Austin to Alfred Ostheimer, Superior's 1975 ANA Sale, 8/75:806 to an East Coast Collection. 4). EF-40, not seen, reported in the JRCS Journal Bust Dollar Census, September 2000. 5). PCGS VF-25, the present specimen, purchased privately from J.J. Teaparty's Liz Coggan. 6). VF-25 Ivy Sale, 12/769:793, not plated, unknown if correct attribution, not seen or reported again (possibly #5 or #7 here). 7). F-15, Stack's W. Earl Spies Sale, 12/74:14 "Perfect but for one old small reverse edge ding".
While Bower's speculates that more may be known, they sure haven't appeared at auction nor are they in the John Reich Journal's Bust Dollar census, which lists just 5 of those reported above. This is an extremely rare variety that very seldom offered, and often a decade or more can pass before one appears at auction, and then usually when a specialized collection is offered. While not the finest seen, this is a very respectable example of this die pairing, and we note that all others listed are tied up in specialized collections and may not be available for purchase anytime soon. An important rare opportunity for the specialist.
Estimated Value $8,000 - 12,000.
Purchased from J. J. Teaparty's Liz Coggan privately and from the San Marino Collection.
View details and enlarged photos
| Realized
$8,510 |
Lot 459 |
 |
1795 Flowing Hair Dollar. Three leaves beneath each wing. PCGS graded Fine-15. This is the latest obverse die state seen, with an additional lump connecting the vertical die break with the 7 in the date and is one of just two reported examples to show this advanced stage of the dies. The surfaces are very clean for the grade, with smooth wear and beautiful gray color on both sides, the obverse and reverse with iridescent gold around the periphery. A few stray pin scratches can be seen with a strong glass in the fields. The dies were not aligned properly when this one was struck, with the upper right obverse dentils very sharp, and the lower left obverse weak on the dentils, while the reverse is evenly struck and worn. The obverse die cracked early in the production of this variety, and hence few were coined. About as nice an example for the grade as one could hope to find, and with the terminal obverse die state this is a rare coin indeed. The only other example traced of this later die state, with the lump connecting the crack to the 7, was offered in Bowers & Merena's 3/94:1081.
Estimated Value $3,500 - 4,500.
From the collection of Charles Ruby, sold in Superior's Gilhousen Sale, October 4, 1973, lot 1217, next in the Superior 1975 ANA Sale of the Ostheimer collection, 8/75:809, next in Superior's H. Rolland Willasch Sale, May 27, 1990, lot 451 to the San Marino Collection.
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| Realized
$3,795 |
Lot 460 |
 |
1795 Flowing Hair Dollar. Two leaves beneath each wing. PCGS graded AU-50. A famous example of this rare and sought-after variety. The surfaces are a delightful gunmetal blue and gray tones, with darker highlights through the stars and periphery, while the centers are lighter silvery gray. As seen on virtually all B-13, BB-24 examples, adjustment marks are present, here located through the central obverse, although they are lighter than usually seen for this variety. Boldly struck and perfectly preserved, this coin is certain to find many suitors for its pristine surfaces and gorgeous antique gray color.
Identifiable as the Spies coin by a minor planchet streak just past the final A of AMERICA. Apparently the Mint was having trouble with this batch of silver, the planchets were all too thick, and as noted, all examples of this variety show adjustment marks to some degree. Adjustment marks are evidence that the planchets were all carefully weighed and adjusted, literally with a metal file, to bring the weight down to the correct level. As noted on the silver plug issues, it would make sense that if a planchet was too light, adding silver to the lightweight planchet could save the many steps required to melt, recast and draw the silver again and cut it into planchets. Likely the third finest known behind the mint state Atwater coin and the Baldenhofer AU example. Listed twice in the Bowers/Borckardt Notable Specimens under the Burghoff specimen and as the Spies specimen, but they are the same coin.
Here is a Condition Census of those known to us: 1). The Atwater specimen: MS-60+, Frank Stirling, Heritage 2/86:1328; Bowers Four Landmark 3/89:1942; Superior's Heifetz Sale, 10/2/89:2381; Auction 90, Rarcoa 8/10/90:760; Superior's 5/91:948. 2). PCGS AU-58, Baldenhofer/Ostheimer/Heritage 5/31/01:6261 at $44,850, Bowers 1-8-02, not sold. 3). PCGS AU-50, the present specimen: Stack's W. Earl Spies Sale, 12/74:18; Superior's Burghoff Sale, 1/28/80:275; Steve Ivy's 1980 ANA Sale, 8/20/80:2500 at $11,500; Bowers Brooks Sale, 6/11/89:162 to the San Marino Collection. 4). EF-40 The Wyatt/Blevins/East Coast Collection. 5). EF-40 Bolender specimen. 6). EF-40 Bowers & Ruddy's Matt Rothart Sale, 11/17/73:919 later appeared in Superior's Davenport Sale, 2/77:467 as "VF-20". The Haseltine specimen listed as EF in 1881 is likely one of the above, not plated, impossible to trace today?
History has proven this to be a very rare variety, and last years sale of the famous Ostheimer (# 2 above) coin in AU-58 for $44,850 confirms the rarity and desirability of this variety in high grades. The present specimen is clearly the third finest known of the variety.
Estimated Value $12,000 - 16,000.
Ex: Stack's W. Earl Spies Collection Sale, December 12, 1974:18 Superior Stamp & Coin Company's Gary Burghoff Sale, January 28, 1980:275, next Steve Ivy Numismatic Auctions, 8/18/80:2500 at $11,500; Bowers & Merena's Brook's Sale, June 1989, 162 to the San Marino Collection.
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| Unsold |
Lot 461 |
 |
1795 Draped Bust Dollar. Off-center bust. PCGS graded AU-53. Lovely old album style toning with peripheral bright gold and green through the stars and date, similar on the reverse, white elsewhere. We note a few central adjustment marks on Liberty, but they are mostly well hidden in her hair. One broken scratch is noted down from Liberty's ribbon into her lower curls.
The off-center bust is traditionally thought to have been the first die engraved with the new obverse "draped bust" style. Mint Director Henry William DeSaussure was fed up with the "wild indian" appearance of the 1794-95 silver dollars, and went so far as to engage the famous portraitist Gilbert Stuart (who painted such famous works as the portrait of George Washington on the dollar bills of today) to improve the appearance on our coinage. Stuart submitted drawings of the most beautiful and captivating women in Philadelphia, a Mrs. William Bingham (Ann Willing). This drawing (regrettably lost) was translated by engraver John Eckstein into some sort of device punch, perhaps with the help of Robert Scot, the Mint Engraver. Scot, who is blamed for numerous die blunders by Breen and others, or someone in the employ of the early Philadelphia Mint punched this lovely rendition of Liberty to far to the left and too high into the die, creating the "off-center" bust as seen here. One the next try, legend has they got it right, and Liberty is nicely centered in the die. The new design was a great success, and the draped bust design was incorporated on all silver and copper coinage from the United States for the next several years.
Estimated Value $7,000 - 9,000.
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| Realized
$8,338 |
Lot 462 |
 |
1795 Draped Bust Dollar. Off-center bust. PCGS graded EF-45. Bright and untoned, with luster in the protected areas. Note that the PCGS states this is the "centered bust" but it is the Off Centered Bust variety. Sharply struck on the left side of the obverse, with minor weakness on a few of the right stars. The surfaces have no real problems but show myriad faint handling lines from circulation. A high grade example of this popular first year of issue variety.
Estimated Value $4,000 - 5,000.
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| Realized
$5,290 |
Lot 463 |
 |
1795 Draped Bust Dollar. Off-center bust. PCGS graded VF-35. Lovely steel gray in color and well balanced for the grade. We note minor adjustment marks around the obverse rim, but there are none seen on Liberty's face. Well struck and preserved, with no problem bumps or scrapes to detract. A very nice example for the collector of this popular type coin.
Estimated Value $3,000 - 3,500.
View details and enlarged photos
| Realized
$3,910 |
Lot 464 |
 |
1796 Draped Bust Dollar. Small date, small letters. PCGS graded AU-53. One of the very finest known of this rare die combination behind only the mint state Eric Newman coin and the Ostheimer AU+ example with heavy obverse adjustment marks. The coin boasts light silvery gray colors with iridescent gold toning around the periphery of both sides. Boldly struck on Liberty's curls and on the eagle, with no signs of weakness. Further, there are no adjustment marks on this coin. A later die state as the obverse shows areas of light die rust around the date, stars and lettering when examined with a strong glass. The reverse die does not show rust. Sharply struck by the dies, and strong curls remain on Liberty, and most of the eagle's breast feathers are present as well. This one only circulated for a very brief time, and is enhanced by delicate iridescent gold and green toning around the periphery, while the centers remain flashy and white with luster.
Forget the PCGS Population Report on the small letters, small date combination, for these are truly scarce coins. During the first several years, PCGS apparently graded all 1796 dollars as simply that, "1796" before breaking them into the three categories of Small Date, Small Letters (B-1, B-2, B-3), next Small Date, Large Letters (B-4, B-6), and last Large Date, Small Letters (B-5) as the number reported in the Population Report far overstates the Small Date, Small Letters variety. PCGS reports 296 Small Date, Small Letter coins graded, and 83 of the far more common Small Date, Large Letters varieties, and just 51 of the Large Date, Small Letters variety. Anyone experienced with the varieties knows that the rarest combination is by the Small Date, Small Letters (B-1, B-2, B-3) coins, representing less than 10 percent of the 1796 dollar population. A similar situation exists for the 1795 draped bust dollars with the "Off-Center Bust" and "Center Bust" dies. The Population Report shows 419 graded of the rarer (but first listed) Center Bust, and just 52 of the more common "Off-Center Bust", again a situation where PCGS lumped the first decade or so of 1795 draped bust dollars graded were grouped under the "center bust" variety. Again, experience tells us the centered bust is a much scarcer coin that the off-center bust variety of 1795.
The Condition Census is as follows: 1). MS-60/62 Eric P. Newman collection (Ex. Col. Green) plated in the Bowers book. 2). AU-58 reported in the John Reich Journal Census, 9/2000 (likely ex: Heritage 8/6/98:8020 prior as Stack's 9/75:298 as MS-60 raw). 3). AU-50 Davis/Baldenhofer/Gilhousen/Ostheimer, "practically uncirculated." possibly #2 above. 4). PCGS AU-53 the San Marino Collection specimen presently offered. 5). PCGS AU-53 the Silverman/Whitney coin, Heritage 4/25/02:4007 at $13,800. 6-10) AU-50 others offered in recent years (Heritage 8/98, AU-50).
Estimated Value $12,000 - 17,000.
Purchased privately from John J. Haugh in August 1, 1997 at the New York ANA show and from the San Marino Collection.
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| Realized
$14,375 |
Lot 465 |
 |
1796 Draped Bust Dollar. Small date, small letters. PCGS graded AU-50. Dark steel gray in color with hints of bluish luster near the devices. A simply superb example for the grade, fully struck and without a flaw. No adjustment marks or other detractions and this coin is truly as perfect as one could hope to find. The color is seductive, and if you love deep blue gray toning, then this is a coin you will want to secure for your collection. Further, it is a scarce die variety which is seldom offered in high grade. This particular coin is probably on par with the Carter (Stack's 1984) specimen, and is certainly high in the condition census for the variety.
The small date, small letters variety is far scarcer than the other large letter/date combinations. As to the Condition Census, we believe it is as follows: (60, 55, 50, 50, 50, 45) and these are elaborated in the Bowers Silver Dollar Encyclopedia. This particular coin is die state I.
Estimated Value $10,000 - 14,000.
Purchased from Jim McGuigan's FPL, February 1990 and from the San Marino Collection.
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| Realized
$10,925 |
Lot 466 |
 |
1796 Draped Bust Dollar. Small date, large letters. PCGS graded Fine-12. Light steel gray in color with lighter devices as compared with the fields. A few faint hairlines can be seen on Liberty's head, but the surfaces are generally pleasing and we see no rim bumps whatsoever.
Estimated Value $1,200 - 1,400.
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| Realized
$1,610 |
Lot 467 |
 |
1796 Draped Bust Dollar. Large date, small letters. PCGS graded VF-35. This is a particularly famous coin, it is plated both obverse and reverse in the Bolender reference and was in his personal collection for years. The surfaces are toned a slightly mottled gray blue over silver luster, and the strike is uneven as often seen with minor weakness on the second and third stars. Clean for the grade, with minimal handling marks and no adjustment marks or annoying rim marks. We note that approximately one half of the eagle's breast feathers remain, and we feel this coin is undergraded currently, as it was called "EF-45 or better" in its last auction appearance in 1986 when this was purchased by the San Marino Collection.
A later die state, with the lump on the reverse between IC of AMERICA well developed but not touching the C as of yet. As we know, die steel was very hard to come by in the early days at the Mint, and in 1796 a bad batch was delivered to the Philadelphia Mint, the bad batch contained a few small bubbles in the steel. As coins were struck with these dies, the bubbles sunk, forming lumps on the coins. Examples of these lumps include the 1796 JR-1 dime (star one forms a lump very quickly and it is seen on all but a single specimen of this variety), another example is the 1796 large cent, S-92, with a lump at the end of the right ribbon, and on this Bolender-5 dollar, where the lump spreads and grows as more coins were struck.
Estimated Value $5,000-UP.
Ex: Henry Chapman's Matthew Adams Stickney Sale, 6/25/1907:812; Schwab collection (both per Bolender), purchased by Milferd H. Bolender, sold his 183rd Sale, 2/23/52:24; Bowers and Merena's Baron Von Stetten-Buchenbach Sale Sale, 11/11/86:1944 as "EF-45 or better" to the San Marino Collection.
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| Realized
$10,350 |
Lot 468 |
 |
1797 Draped Bust Dollar. 9 stars left, 7 right, small letters. PCGS graded VF-35. Gorgeous gunmetal blue toning with violet highlights are present on the obverse and reverse. Truly a delightful example of this popular and scarce variety. The surfaces show faint handling ticks expected from limited circulation, but there are no rim bruises or significant marks to be found on either side. Further, no adjustment marks are present on this specimen.
This is the middle obverse die state after the obverse was very lightly lapped, and identifiable as such by the single remaining mispunched star point in the field below the ninth star, and die file lines in the field by Liberty's throat. A few earlier obverse die state coins are seen that show two star points below the ninth star and heavier die file lines at Liberty's throat. On all of this variety, the reverse die was heavily lapped, reducing the depth of the devices. For this reason, the reverse always appears to be a lower grade than the obverse, and any circulation quickly produces a moderate grade. We note a few breast feathers remain on this coin, and most of the wing feathers are well defined.
Remarkably, this reverse die was paired with six obverse dies over the span of four years! The first appearance was in 1795 on the B-14, BB-51; next on 1796 B-3, BB-62; then 1796 B-2, BB-63; the reverse die was now heavily lapped apparently to remove rust (my speculation as there are no cracks or significant clash marks seen on any of these listed varieties). Dave Bowers and Mark Borckardt speculate that the 1796 B-2, BB-66 variety was struck at the same time as the 1797 B-2, BB-72 and 1798 B-2, BB-81 probably early in 1798 as some sort of emergency issue when new dies were not available, and this certainly makes a lot of sense given the similar reverse die state. Now that the reverse die was lapped, the next issue seems to have been the 1796 B-2, BB-66 variety, next the currently offered 1797 B-2, BB-72 issue, and last the 1798 fifteen star obverse, B-2, BB-81, when this reverse die was finally put out to pasture.
On a final note, in past decades catalogers have speculated that only 342 were minted of this variety on February 28, 1797. This came to be as the Philadelphia Mint reports that there was a delivery of 342 silver dollars on that date, and this being the scarcest of the three known varieties dated 1797, many assumed this was the entire issue. Nothing could be further from the truth, and there are clearly in excess of 100 pieces known of this variety. Bowers and Borckardt examine the mintage thoroughly on page 253 of their superb Encyclopedia on Silvers Dollars, and we agree with their conclusions that although scarce, this variety is not as rare as has been touted through the years. Locating a high grade example can be accomplished with patience and a large enough bank account.
Estimated Value $5,000 - 7,000.
Ex: Charles Ruby Collection and purchased from Superior's Gilhousen Sale, October 4, 1973, lot 1226 for the very strong price at the time of $1,550 and from the San Marino Collection.
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| Realized
$12,075 |
Lot 469 |
 |
1797 Draped Bust Dollar. 10 stars left, 6 right. PCGS graded MS-62. Stunning rose gold toning on both sides with deep aqua blue at the rims on both sides. This is an extremely rare coin in mint state grades and is very difficult to locate even in top AU grades! The surfaces are alive with mint luster and show minimal signs of contact. As to the strike, it is generally sharp save for just a few areas of weakness on the upper curls and central breast feathers on the eagle. The PCGS Population Report shows just 2 graded as MS-62, with a single coin graded higher as MS-63, and no other mint state coins have been graded by that service. Obviously, the 1797 silver dollar is an extremely rare animal in mint state!
All draped bust, small eagle dollars are rare in mint state, a few 1795 draped bust dollars were saved as the first of their kind, but precious few of the other 3 years 1796-1798 were saved in new condition. The new coinage was in great demand at the time it was struck, and few people would have had the money to set such a large and valuable coin aside for posterity. How this one survived in mint condition will likely remain a mystery, but here it is in all its toned glory, awaiting its new owner.
Estimated Value $50,000-UP.
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| Unsold |
Lot 470 |
 |
1797 Draped Bust Dollar. 10 stars left, 6 right. PCGS graded AU-53. If you want a nearly perfect example of this common variety, then check this one out! Light steel gray in color, with luster in the protected areas and very sharply struck. No signs of adjustment marks or rim ticks, and the surfaces are a delight to behold. Sharp stars and full curls on Liberty, with just a trace of wear on the highest points. Note how many breast feathers are visible on the eagle, and few are found with this much detail remaining. Identifiable by a tiny planchet flake just above the tenth star. PCGS has graded 2 as such of this variety, with 9 above in higher AU grades, and 2 as MS-62 and a single coin at the top as MS-63. A worthy acquisition for the specialist who demands uncompromising quality.
Estimated Value $7,500 - 10,000.
Purchased from Bowers and Ruddy's Fixed Price List, August 1978 and from the San Marino Collection.
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| Realized
$14,663 |
Lot 471 |
 |
1797 Draped Bust Dollar. 10 stars left, 6 right. ANACS graded VF-35. Liglt silvery gray and pleasing in color, with traces of luster in the protected areas. No rim bumps or similar ailments and the surfaces appear clean. A few crossing adjustment marks are seen on the reverse.
Estimated Value $3,000 - 3,500.
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| Realized
$3,508 |
Lot 472 |
 |
1798 Draped Bust Dollar. Small eagle reverse, 15 stars on obverse. PCGS graded EF-45. A truly exceptional example of this rare and sought-after coin. First of all, only two 1798 small eagle varieties were struck (out of a total of 33 die pairings in 1798), and in standard government efficiency one die had 13 obverse stars, and then there was the die used to strike this coin, which had 15 obverse stars. Why 15? Well, the Mint began adding stars each time a state joined the union, and by 1794 there were 15 states. On June 1, 1796 Tennessee joined the union, and the star count climbed to 16! Therefore, it's assumed that this curious 15 star obverse die was leftover from 1795 or early 1796 and was dragged out of the die vault at some point in 1798, paired with the old, worn out small eagle die from 1795 (that reverse was used in all 4 years 1795-1798), and coins were struck. Tradition has placed this variety at the beginning of the year, but it is possible that it was coined late in 1798 after the annual mosquito and yellow fever epidemic had abated and the cold weather set in. It is very likely that this is some sort of emergency issue which had to be coined before normal dies could be prepared (hence using the old 1795/6 obverse die and the old small eagle reverse die). Similar circumstances were likely for the production of such weird animals as the 1795 heraldic eagle reverse half eagle, and the 1798 small eagle reverse half eagle.
As to rarity, the fifteen star, small eagle dollar is a rare coin to locate in high grades. Demand remains very high as this has been a separate listing in the Guide Book as well as the Standard Catalog for generations. Coin albums and major variety collections always include an example. Nevertheless, these are simply not available in high grades as demonstrated in the PCGS Population Report, in grades as high as EF-45 a meager 4 have been graded, and this is the last "group" if you will, above this grade we note 1 coin in each grade as follows: 50, 53, 55, 58 and 62. That's it, there aren't any hoards or shipwrecks waiting to populate the population. Hence, if you demand to quality for your collection and have the means, then here is a special coin for the advanced collection.
We note that this particular example boasts dark gray toning with minor streaking on both sides, and the surfaces are very pleasing, being free of bumps and scratches which so often detract from these large coins. Well struck too, although the reverse die simply had very little depth by the time these were coined, but a few breast feathers still show as well as virtually all of the wing feathers and leaf details. As problem free as you are likely to find for the variety.
Estimated Value $9,000 - 12,000.
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| Realized
$10,063 |
Lot 473 |
 |
1798 Draped Bust Dollar. Small eagle reverse, 15 stars on obverse. NGC graded EF-40. This is Bower's die state III, of which only 2 are known that show the rather heavy die crack from the rim below the fifteenth star through the point nearest her bust to the junction of Liberty's neck and throat. An extremely rare die state which the owner searched for over two decades to locate. The only other example seen is the Merkin 11/65-Gilhousen 10/73-Ostheimer 8/75 AU coin which resides in the premier bust dollar collection on the east coast and is apparently off the market for the foreseeable future.
As to the surfaces, they were almost certainly lightly cleaned although not enough to keep this one from being certified. Traces of luster can be seen in the protected areas, now accented by light gold toning. We note the strike is sharp for the variety. Remember that this reverse was heavily lapped long before this one was struck, so there the devices appear shallow, despite the high grade and very limited circulation. The lapping process also greatly reduced the rim dentils, and hence there was very little surface to protect the devices from wear, which is why these wore down in grade so quickly. We also note minor adjustment marks around the obverse rim, but they are not very detracting. A coin that a specialist will long enjoy.
The fifteen star obverse was paired with a single small eagle reverse die for a very limited issue. As this is the only fifteen star obverse die, this die pairing has long been collected in major variety sets, keeping demand from collectors solid for the last several decades. The obverse die was apparently replaced soon after this crack formed, halting production of the fifteen star, small eagle variety.
Estimated Value $6,500 - 7,500.
Ex: Heritage's 2/22/02 sale, lot 6493 and from the San Marino Collection.
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| Unsold |
Lot 474 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, large eagle, knob 9. PCGS graded VF-30. Lilac gray in color with lighter silver color on the devices as compared to the fields. The surfaces and quality are much better than normally encountered for a coin of this grade. A rare and seldom offered knob 9 variety which is very difficult to locate in any grade. The centers are not fully struck up, perhaps accounting for the conservative grade from PCGS. Excellent quality overall.
While not in the condition census, this is a very difficult variety to find in any grade. The finest is the Cardinal coin which claims to be the Bolender coin, now NGC graded MS-63, and below that are half a dozen pieces which are at or near EF grades. The usual die state with the die crack above star two.
Estimated Value $1,500 - 2,000.
Ex: J. J. Teaparty via Liz Coggan privately to the San Marino Collection.
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| Realized
$2,300 |
Lot 475 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, large eagle, knob 9. PCGS graded EF-45. A very choice example of this rare and underrated variety. The coin is toned with medium steel gray colors with traces of gold and blue at the rims. Surprisingly well struck despite the bisecting vertical die break on the reverse. Clearly few were coined once the reverse die broke, and virtually all known of this die pairing show the reverse break. The break apparently happened in a catastrophic manner, as there are no middle die states that show a shorter or light reverse break, and once the crack appeared, it must have been from rim to rim. A truly remarkable example of this very popular variety. Thought to be one of the rarest of the 1798 varieties, and very difficult to locate in all grades with a population of less than 30 pieces in all. This particular example is the second finest listed in the Bowers/Borckardt Notable specimens, but since that time another AU example has been graded so this is likely the third or perhaps fourth finest known of the variety. Only a single specimen is known without the reverse vertical die break (Stack's Spies sale, 12/74 and this is probably the same coin as Heritage's Bullet Sale, 2/21/97:767).
Recently an example of this variety NGC graded EF-40 at Heritage's Hering Sale 1-10-02 brought $9,200.
The condition census is as follows: 1). NGC AU-55 Bowers 5/95:1163 and Heritage 6/4/99:6058. 2). ICG AU-53 East Coast Collection probably ex NGC-53 Heritage 7/94:7104. 3). AU-50 (raw) Midwest Specialist's Collection. 4). PCGS XF-45 the present specimen, ex: Superior's H. Rolland Willasch Sale, 5/90:476. 5). XF-40 reported, East Coast Collection. 6). XF-40 reported, John Reich Collectors Society Early Dollar Survey 9/2000.
Estimated Value $8,500 - 12,500.
Ex: Superior's H. Rolland Willasch Collection, May 27, 1990: 476 and from the San Marino Collection.
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| Realized
$10,925 |
Lot 476 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse, 5 vertical stripes in shield. NGC graded AU-58. A choice example of this scarce variety, not only is the 5 vertical shield stripes variety, but it also is one of the knob 9 variety. We searched through the notable specimens in Bowers, but were not able to plate match this important coin to those listed. We note the obverse is struck off center towards 5 o'clock, and there is a planchet streak in the field behind Liberty's ribbon, and we note a complex rim mark near the first two stars. The horizontal shield lines have a weak area near the center where they were not struck up, and this is seen on some other high grade examples. Moderate handling marks, and rare this nice, and certainly in the condition census for the variety of the top dozen known.
Estimated Value $5,000 - 6,000.
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| Realized
$8,050 |
Lot 477 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, knob 9. ICG graded AU-50. Dark toning on both sides covers over any remaining luster. A middle to later die state with a crack left of the date. Scattered ticks, and a slightly scarcer variety.
Estimated Value $2,500 - 3,500.
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| Unsold |
Lot 478 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, large eagle, knob 9. Sharpness of EF-40 but retoned. A rare variety that is very hard to find this nice. This one has been retoned with mottled gray in the fields, and lighter devices. Sharply struck and better than we make it sound. Still within the condition census of the top half dozen known.
The only recent offering of this variety was the Finest Known example, PCGS AU-58, which recently sold for $18,500 in Heritage's recent April 2002 auction. Few are found, and this one is likely near the lower end of the Condition Census despite its past cleaning. Better struck than usually encountered.
Estimated Value $1,500 - 2,500.
Ex: Superior's Sale, 2/20/01:5600 to the San Marino Collection.
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| Unsold |
Lot 479 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, close date. PCGS graded AU-53. A rare and very high grade example of the terminal shattered reverse die state. Examination will note substantial luster on both sides and totally defect free surfaces. Unevenly struck, as are all of this die state, with the fifth and seventh stars very weak from die swelling, and similarly weak on the reverse at the same area on N and E of UNITED, as well as at the centers of the obverse and reverse. Probably tied for the second finest known of this variety and die state, behind the stunning Boy's Town Sale example, Superior Stamp & Coin Sale, 5/27/90:3877 PCGS MS-64.
This coin shows very little wear, but because of the uneven strike it is difficult to grade. Light silvery-gray in color with lovely sunset gold toning on both sides. This is a very appealing early dollar, in finding a high grade example of this terminal die state is very difficult. This is Bowers die state IV or later. An exceptional example for the specialist.
As the both dies show extensive cracks and die swelling, the fifth and seventh stars are always weakly struck. Jules Reiver, the noted Delaware specialist in the series has a collection of these where various stars are missing, with examples that show 12, 11, 10, 9 and 8 stars! One of the most interesting die progressions of the entire bust dollar series.
Estimated Value $5,000 - 6,500.
Purchased privately at the 1997 ANA show, at that time it was PCGS graded AU-55 from the San Marino Collection.
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| Realized
$6,613 |
Lot 480 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse, close date. PCGS graded AU-50. This is a late die state of this die pairing, with a crack through the 17 of the date to Liberty's drapery, and a heavy die crack, with lumps, from the rim through the lower two points of the second star nearly to the middle curl behind Liberty's head, and other light cracks through stars three to six. Rim crumbling visible because of the off center strike on the lower obverse rim below the date and nearly up to the first star, as illustrated. The reverse has a light die crack from the rim to the left wing to the second feather from the top, another light crack through the upper portions of STATES OF, and a rather heavy crack through the right side of the M in AMERICA to the ribbon below and another from the rim down to the O in OF.
Toned a dark gray color, and we note there are some central adjustment marks on Liberty. Traces of luster can be seen beneath the toning. Struck off center towards 1 o'clock on the obverse and similarly on the reverse. This is the Bowers plate coin for his Silver Dollars & Trade Dollars of the United States of America, A Complete Encyclopedia. We also note this coin is plated in Walter Breen's Encyclopedia under his number 5383 (plate taken from Lester Merkin's Bauer Sale). Rare and seldom encountered in high grades.
Amateur die cutter's reverse. The condition census for this variety is: 55, 55, 50, 50, 45, 45 placing this coin as tied with one other for third finest reported.
Estimated Value $4,000 - 6,000.
Ex: Merkin's Bauer Sale, 11/20/68:389; next Bowers and Merena's Spring Quartette Sale, 3/27/92:2578 (raw AU-50); next Bowers and Merena's Sunderland Sale, 3/15/94:1115 and from the San Marino Collection.
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| Realized
$3,680 |
Lot 481 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse, close date. NGC graded AU-53. Light silver in color with luster in the fields. Sharply struck for this variety, with strong hair detail and wing feathers on the eagle. A touch of gold toning on the right obverse, but this coin is basically bright and untoned. The surfaces are generally clean, but we note a couple of tiny rim ticks. Late obverse die state with a crack from the rim below the 7 of the date up through the first five stars, Bowers die state III. Most seen are this die state, but we note the centers are struck better than usually encountered on this variety. One mint state example has been seen (NGC MS-62), and the Bolender plate coin appears to be a higher grade than offered here. The currently offered example is certainly in the top six known, and may well be tied for the third finest known with the Bowers Sunderland Sale, 3/14/94:1106 coin. The coin reported in World's Greatest Collection Sale (1945) was not plated so we don't know if it was attributed correctly or if it is one of those noted above.
In our experience, this variety is much rarer than reported as some of those listed in Bowers Notable Specimens are actually the more common B-13, BB-108, which shares the same obverse die, and a very similar reverse die. To correctly attribute this variety, notice the die line up (probably an engraver's scratch and not a die break) from the serif on the base of the L (near the I) of LIBERTY which extends nearly to the upper serif on the L (appearing like a U), and the reverse can quickly be determined by a simple test, note the three stars on the right above the eagle's wing and ribbon, if the center star is higher, then the coin is a B-10, BB-109; if the middle star is lower, then the coin is a B-13, BB-108. The AU-55 specimen from the Stack's 1976 ANA Convention Sale lot 1332 listed in the Notable Specimens under B-10, BB-109 is actually a B-13, BB-108, and the Bowers Von Stetten-Buchenbach 11-11-86:1949 as B-10, BB-109 is a B-27 (high 8), BB-113, another misattributed example. This is one of the most commonly misattributed bust dollars, requiring careful attribution to identify correctly! The condition census we know of: 1). NGC MS-62 Heritage's Hering sale, 1/10-02:7202 at $15,525 to an East Coast Collection (possibly the WGC coin reported). 2). AU-55+ Earle/Col. Green/Bolender specimen, "practically uncirculated" possibly #1 above. 3). NGC AU-53, The present specimen purchased privately 1998 as NGC AU-55. 4). AU-50 reported, JRCS Early Dollar survey 9/2000. 5). EF-45 raw Bowers Sunderland Sale, 3/94:1106, Midwest Specialist's Collection.
Estimated Value $5,000 - 7,500.
Ex: Steve Fischer 6/30/98 and from the San Marino Collection.
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| Realized
$5,060 |
Lot 482 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded AU-50. One of the very finest known of this popular variety, this one ranks as tied for third finest known just a hair behind two graded as AU-53, and is tied with another in a famous east coast collection (raw AU-50). The surfaces show minimal handling and the coin is toned a medium steel to dark gray color. This is the very rare early die state, with just a trace of the die crack through Liberty's hair above her ear (see the other two examples of this variety in this sale). Identifiable by a small tick between the 17 in the date, and a similar tick just left of the upper ribbon end in the field. No trace of the crack through the thirteenth star on this specimen. Well struck and downright rare this nice!
The B-11, BB-111 is one of the most interesting die deteriorations in the early dollar series. This is a particularly early die state, before the heavy crack appears through the lower two points of the last star towards Liberty's throat. By the time this one was struck, the die had already started swelling in that area from the last star up towards Liberty's throat. Two small nicks will identify this coin, one between the 17 of the date, the other near her upper ribbon end in the field.
This particular coin is actually within the Condition census for the variety, barely behind the two finest reported as AU-53 each, and another AU-50 all seen in the JRCS September 2000 Bust dollar survey. Perhaps tied for third finest known, and important as such.
Estimated Value $3,000 - 5,000.
Ex: Steve Fischer 2/12/98 Long Beach coin show, to the San Marino Collection.
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| Unsold |
Lot 483 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded VF-35. This is the rare middle die state of this popular die progression. The surfaces show moderate roughness, likely from the planchet preparation process although they may be from general circulation as well. Well struck by the dies, and toned with light gold in the protected areas over silvery gray fields. Problem free rims and no signs of adjustment marks.
Note the crack extends through the lower two points of the last star up to Liberty midway between her chin and neck. The die was lapped heavily to remove this crack and mounded area, and more coins were struck. The die immediately cracked again, this next and final time through the upper point of the final star through Liberty's mouth, continuing through her head into the field below the L of LIBERTY. As seen with the three examples of this die variety, a die crack can be removed from the die! This is Bowers die state IV. An important die state sequence, and this middle state seems to be the rarest of the three major die states.
Estimated Value $1,500 - 2,500.
Ex: Bowers & Merena's Sale, 11/19/94:4001 to the San Marino Collection.
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| Realized
$2,070 |
Lot 484 |
 |
1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded VF-25. Bright and lustrous with a touch of gold and blue at the periphery. This terminal die state will warm the cockles of a true collectors heart, for the obverse die break is quite advanced, continuing from the rim through the upper right point of the last star, through the field and into Liberty's mouth, continuing up behind her eye, into her hair and out the back of her head into the field below the L of LIBERTY. This is the same die state as the magnificent Bowers plate coin, but a lower grade. The reverse die shows no cracks or clashing, and was used to produce two additional varieties after this die pairing. Problem free, but a bit on the bright side.
This final die state is quite scarce, and only a few have been seen over the years. Bolender listed three die states, W. Earl Spies expanded this to seven different die states, and these were offered in his magnificent sale by Stack's 12/74. Highly collectible in various die states, and a fascinating progression to study which ends in one of the heaviest obverse die cracks of the entire Bust dollar series. Bowers die state VIII.
Estimated Value $1,250 - 1,750.
Ex: Bowers and Merena's sale of 3/23/02:4015 to the San Marino Collection.
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| Realized
$1,725 |
Lot 485 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, close date. PCGS graded EF-40. A scarce die variety in high grade. Ths coin boasts luster in the fields and lilac to gray toning on both sides, with lighter silver gray on the high points of the devices. Natural in appearance and quite pleasing overall. this is Bowers Die State II with the reverse crack through UNITED STA. Always weakly struck on the central reverse stars, as seen here. A very choice example for the grade.
The Condition census on this variety remains as noted in the Bowers Encyclopedia, finest is the Bowers Somerset 1992:1321 as AU-55 (the Bowers plate coin), next is Bowers Tuttle Sale, 1981:2980 as AU-50; next are two XF-45 coins, and then a small cluster including the present specimen as XF-40 all tied for the Fifth finest known.
Estimated Value $1,500 - 2,500.
Ex: J.J. Teaparty (Liz Coggan) at the ANA Show, 8/11/99 and from the San Marino Collection.
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| Realized
$2,760 |
Lot 486 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, close date. PCGS graded VF-35. This is the latest die state seen of this obverse die. There is a die crack between the 79 of the date up towards Liberty, and another crack extends up into the left field just grazing the first star at the inner two points. The die has failed at the lower drapery on Liberty's shoulder, and this may be partially a weak strike as well. All cracks noted in Bowers die state V are present, including the reverse cracks. Weakly struck at the stars and clouds on the reverse as well. Regardless of the weak strike, there is some luster in the fields and lovely sea green toning in the lettering. Identifiable by a couple of horizontal marks in the field above and right of the eagle's head. This is a coin for the specialist because of the weak strike and complex die cracks and will no doubt provide hours of enjoyment and discussion with other Bust dollar enthusiasts.
Estimated Value $1,500-UP.
Ex: Eliot Durann, 6/93 privately Long Beach coin show for the San Marino Collection.
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| Unsold |
Lot 487 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. ICG graded EF-40. Dark gray in color with traces of deep gold near the lettering. There are adjustment marks on the obverse around the rims, and a couple in the hair. On the reverse we note an old stain on the tail and arrows.
Estimated Value $1,400 - 1,600.
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| Realized
$1,610 |
Lot 488 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-40. This is the scarce die state I, struck before the obverse die was lapped. Light silvery gray in color, with gold and iridescent toning at the rims with luster in the protected areas. Excellent surfaces for the moderate grade, and a coin which would be hard to best! Identifiable by a tiny planchet flaw near the rim above IT of UNITED. Apparently just below the top half dozen known. We note the reverse die is rotated about 20 degrees counter clockwise. Highly appealing, and a very rare early die state, Bowers die state I "may not exist". A coin for the specialist.
Bolender noted two die states for his B-15 variety, this is the early die state, and after the obverse clashed or developed minor cracks, the obverse die was heavily lapped, making the last star near Liberty's bust much smaller than the surrounding stars, and this later (lapped) die state is much more common. This one probably is tied or just misses the lower end of the top 6 coins in the condition census for the variety.
Estimated Value $1,500 - 2,500.
Ex: Steve Fischer on 2/12/98 Long Beach coin show and from the San Marino Collection.
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| Realized
$2,070 |
Lot 489 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-45. Here is a very rare coin in any grade, and especially so this nice! The surfaces are quite clean for the grade, and no disturbing marks or bumps are present. Liberty retains excellent hair detail and this high grade coin will certainly please even the most advanced specialist. Identifiable by a tiny planchet flaw near the rim below the end of the branch, and a small rim bump just past the D of UNITED. Iridescent toning around the periphery of both sides, satiny gray elsewhere. Sharply struck and very well preserved. A classic example of this rare variety. After examining several specimens of this variety in other collections, one thing is very clear, virtually every coin is a different die state. This particular coin shows a light crack extending from the 17 through the lowest curl into the field towards the first star, but is still a fairly early die state. Much later die states exist, and the crack is often found quite heavy to the rim near the first star, and the terminal state is known where a full cud has formed near the first star (Superior's Willasch Sale: 5/90:492). Always a very popular coin with collectors for the large and obvious die crack which forms over the date, this quickly terminated the dies use and created yet another very rare 1798 variety.
The Condition census is as follows: 1). NGC MS-63, Willasch specimen, East Coast Collection. Heavy die cud below star 1, the latest die state seen. 2). ICG AU-55, the Bolender coin, East Coast Collection. 3). raw AU-50, East Coast Collection. 4). PCGS XF-45, The present specimen, ex: Gerry Weiser via Sheridan Downey privately 1993. 5). EF-40 Stack's Spies Sale, 12/74, not traced, possibly above. 6). EF-40 raw, reverse scratches, Heritage's 2/23/01:6644 at $6,038. 7). VF-35 raw, Heritage 8/19/95:6504.
Estimated Value $9,000 - 12,000.
Purchased privately from Gerry Weiser via Sheridan Downey June 2, 1990 and from the San Marino Collection.
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| Realized
$7,763 |
Lot 490 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, 5 vertical stripes in shield. PCGS graded VF-30. While certainly a scarce variety, B-17, BB-101 has long been rumored to exist in an early, unlapped die state. This came about from the Spies Sale, where the unlapped obverse die was reported, but not photographed and graded as VG. Breen noted this die state in his Encyclopedia with the reference to "only 1 known" (Spies) before the obverse die was reground, weakening the dentils on the left side and the first star.
The surfaces of this particular example are bright silver in color, with traces of toning on the obverse, and a pretty arc of toning on the reverse periphery in multicolored hues. The strike is weak on the right side obverse stars and on the lower right shield lines on the reverse as well, and this coin is the very definition of a "flat strike". It is interesting for the specialist to note that the die crack is present on rim above the I of AMERICA, so this coin was struck after the rare B-7 BB-95 die pairing. There is a tiny die crack connecting stars ten and eleven, and a few minor die lumps around the date. Clearly these minor imperfections did not warrant the severe die lapping that is seen on virtually all other known examples and why the obverse was lapped remains a mystery at this time. While not the finest technical grade, this is certainly the finest known of this extremely rare early die state, and may be one of just two to survive struck before the lapping process radically altered the obverse die.
Estimated Value $1,500-UP.
Ex: Bowers and Merena's Flanagan Sale, 11/30/01:4234 to the San Marino Collection.
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| Unsold |
Lot 491 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, 5 vertical stripes in shield. NGC graded AU-55. One of the many highlights of the San Marino Collection, this specimen boasts a pedigree as splendid as its surfaces. Toned with light iridescent silver hues with substantial luster in the fields. Struck after the obverse die was severely lapped, which almost eliminated the protective dentils on the left side. Thus, most are seen in lower grades as even brief circulation would drop the coin significantly in grade. Boldly struck by the dies and exceptional quality even if this was a common variety. The reverse die was used to strike B-6, BB-96 first, and while that earlier variety was being struck, the reverse die was lapped down, leaving just 10 arrows and all but eliminating the upper pair of berries on the branch. Apparently the Finest Known of the variety, just edging out the two AU examples in separate east coast collections, one is ICG graded AU-53, the other a raw AU-50. This coin will truly delight any specialist in the series.
This is the Bolender plate coin (obverse and reverse) for his famous book on the series, and also appears in Breen's Encyclopedia, under his #5379. Of particular importance to the specialist as plate coins from either the Bowers or Bolender reference works are rarely offered and highly sought-after by collectors.
The Condition census is as follows: 1). NGC AU-55, the present specimen. 2). ICG AU-53, Heritage 8/17/95:6511, East Coast Collection. 3). AU-50 raw, East Coast Collection. 4). XF-45 raw, Midwest Specialist's Collection. 5). NGC XF-45, Heritage 1/10/97:6268, not sold, "U" shaped flaw on drapery near curls. 6). XF-45 reported, JRCS Early Dollar Census, 9/2000. Others reported as XF-40. The most recent sale of this variety we could trace: Heritage 5/4/2000:5005 PCGS VF-35 at $4,600.
Estimated Value $7,500 - 12,500.
Ex: Ben Green's Gable and Schuyler sale 5/25/1906; Numismatic Gallery's Sale of F. C. C. Boyd's World's Greatest Collection,1/20/45:42, Milferd H. Bolender's 183rd Sale (his personal collection), 2/23/52:64; Charles Ruby, Superior's Gilhousen Sale Part 3, 10/4/73:1236; Kreisberg's Gainsborough Sale, 9/24/80:763 to the San Marino Collection.
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| Unsold |
Lot 492 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-45. A choice example for the collector of this scarce variety. The surfaces are toned with light gray with some darker and colorful areas around the date and stars. On the reverse, the color is a bit darker but luster still shows through and areas of sea green and blue toning are present near and in the devices. Boldly struck despite the ever present vertical bisecting die break. Probably in the Condition Census, behind the mint state Superior 9/87:2299 coin, and at least two more certified as AU. The present example has enough eye appeal and luster to perhaps qualify at that level as well. Quickly identifiable by the "V" at the top of Liberty's head (look below the E of LIBERTY) with the die break on the left side, with the largest curl on Liberty's head making up the right portion. Using the "V" quick attribution can identify this variety at arms length, a handy trick at coin shows where any time saving trick is helpful. Identifiable by a tiny planchet flaw in the upper E of STATES.
Estimated Value $1,500 - 2,500.
Ex: John J. Haugh 9/25/98 at the Long Beach coin show and from the San Marino Collection.
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| Realized
$3,105 |
Lot 493 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-40. A very rare coin in high grades, and this one seems very conservatively graded in our opinion. When purchased it resided in an ANACS AU-50 holder. Toned with medium to dark gray hues, with strong curl separation on Liberty nd problem free surfaces. This is a very late die state with the reverse cud noted below the eagle's tail. We note some very minor planchet streaks at the top of the obverse.
Estimated Value $2,500-UP.
Ex: Steve Fischer 9/98 as ANACS AU-50 to the San Marino Collection.
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| Realized
$3,450 |
Lot 494 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, wide date, 13 arrows. PCGS graded AU-55. Absolutely gorgeous quality for this scarce die variety, the fields retain full luster and are toned a steel gray color. Only a slight trace of wear on the high points of this boldly struck coin, and frankly this coin is better than most called mint state. The reverse has gunmetal blue and fiery gold luster around the periphery and the surfaces, color and overall quality combine to make this one of the highlights of the San Marino Collection. Clearly the finest known of the variety, the second runner up is a pair of EF-45s, as the AU-50 in the Bowers Borckardt notable specimens section was actually a B-23, BB-105 misattributed in the Herdegen sale. Further, this is the terminal die state, with multiple and complex die cracks down through the E of STATES to the ribbon and shield below and die lumps in that area as well.
The reverse die has shattered, with extensive and complex cracks from the rim down through the E of STATES into the star field below, as illustrated and were very well described in the Eliasberg catalog. One of the highlights of the San Marino collection and not offered again since it was purchased at the Eliasberg sale.
Estimated Value $15,000-UP.
Ex: Harlan P. Smith Collection, S.H. and H. Chapman, 5/8/1906; John H. Clapp, Clapp Estate 1942 to Louis Eliasberg, Sr., Bowers & Merena's Eliasberg Sale, 4/8/97:2183 to the San Marino Collection.
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| Realized
$14,375 |
Lot 495 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, 5 vertical stripes in shield. PCGS graded AU-55. A deeply toned example of this relatively common variety, the centers are a lilac gray, with rich iridescent blues and golds around the periphery over luster. The reverse is well matched, but shows more reddish gold in color. Boldly struck throughout, and well preserved. Identifiable by a thin line from Liberty's head to the upper serif of the B, and on the reverse by a small void by the shield just below the first two right feather ends on the wing. Rare this nice, with perhaps half a dozen mint state coins at the top of the census, and several other contenders in AU grades just below.
Estimated Value $3,000 - 4,000.
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| Realized
$6,613 |
Lot 496 |
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1798 Draped Bust Dollar. Heraldic eagle reverse, wide date, 13 arrows. PCGS graded EF-40. Medium steel gray in color and quite nice for the grade. No adjustment marks or rim bumps whatsoever. Fully struck and well preserved for this variety. Identifiable by a thin scratch to the rim from the seventh star, and a small dig mid field over Liberty's chest. One of the more common 1798 varieties.
Estimated Value $1,500 - 2,500.
Ex: Sheridan Downey on 8/5/98 at the Portland, Oregon ANA Show and from the San Marino Collection.
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| Realized
$2,415 |
Lot 497 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-45. Choice medium gray in color with lighter devices and slightly darker fields. This is a late die state of this scarce and underrated variety. Bowers die state V, terminal for the reverse. Luster in the fields around the devices, and boldly struck despite the late die state. There is enough hair detail and surface quality to perhaps qualify at a higher grade on this coin. One thin hairline scratch can be seen in a horizontal position from Liberty's chest to the back of her curls approximately between the first and last star, and this will help identify this rare coin in the future. The reverse die has several cracks as mentioned in the Bowers book, and the reverse die was retired soon after this coin was struck, as this is the latest die state reported. As a variety, B-26, BB-114 is very difficult to find, and we feel it is underrated in terms of rarity. The obverse die is the familiar "high 8" with the usual die cracks one up through the 9 in the date, and two others extending either direction from the dentils below the 9, the left branch curling up through the first star towards the ribbon, the right branch curling up into Liberty's drapery. Our consignor calls these the "smiley cracks" for obvious reasons.
A very nice coin for the grade, and one that resides in the lower end of the top six in the Condition Census as follows: 1). MS-62, Stack's 3/96 "mint state" early die state. In the JRCS survey as MS-62. 2). AU-53 reported JRCS survey. 3). AU-50 reported JRCS survey. 4). AU-50 reported JRCS survey. 5). PCGS XF-45 the present specimen, the Bowers plate coin. 6). PCGS XF-45 Heritage 8/1/97:6489.
Estimated Value $5,000 - 7,500.
Ex: Bowers and Merena's 1993 FUN Sale, 1/7/93:516; next their Lexington Sale, 1/94:2128; next their Burke Sale, 5/94:2185 and purchased from Heritage's ANA Sale, 8/95:6507 and from the San Marino Collection.
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| Unsold |
Lot 498 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-40. A scarce variety that is hard to find in high grades. This particular example is choice for the grade, and as we know, the obverse was used to coin a total of seven different die varieties! The obverse die continued to be used despite the "smiley cracks" which started to appear on the first usage (B-27, BB-113) and was later paired with six more reverse dies, with the obverse cracking more with each usage. Well struck on most of the stars over the eagle on the reverse, and nice details on Liberty's curls. The obverse cracks are advanced and the stars are drawn towards the dentils slightly. Identifiable by a small nick just below the inside point of the twelfth star on the obverse.
This is the final use of this obverse die, it had laid to rest 6 reverse mates, outlasting them all despite the obverse die cracks from just below the date. Finally, the obverse die cracked so badly it was replaced, and the reverse die was used again to produce the B-12, BB-120 variety next. On the B-29, BB-119 pairing, the obverse is badly cracked, with the obverse smiley breaks extending up to the lowest ribbon point, another crack has formed through the left stars curling around below the L of LIBERTY.
Estimated Value $1,500 - 2,500.
Ex: Steve Fischer 10/30/98 at the Long Beach coin show and from the San Marino Collection.
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| Realized
$2,300 |
Lot 499 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded EF-45. Mottled dark gray tones around the periphery, lighter silver at the centers. Well struck with complete hair details on Liberty's upper curls, and the reverse is sharp as well, despite the very late die state. There is a very curious oval die break on the right wing of the eagle, and a heavy break at the first A of AMERICA. These breaks soon ended the reverse dies life, and yet another new reverse die was paired with this smiley break obverse. Tied at the lower end of the Condition Census for the variety as follows: 58, 58, 50, 45 multiples.
Estimated Value $2,500 - 3,500.
Ex: Jonathan Kern 7/27/93 Baltimore ANA, to the San Marino Collection.
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| Realized
$1,725 |
Lot 500 |
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1798 Draped Bust Dollar. Heraldic eagle reverse. PCGS graded AU-53. Certainly a condition census example and apparently well up in the top six of the variety known. This one boasts quite a bit of luster in the fields, and the surfaces are much better than usually encountered on an early dollar. Toned with light golden hues over luster, and satiny gray silver throughout. Liberty retains full separation on her curls, and this coin must have barely circulated. Struck from the obverse die with the "smiley cracks", this long lasting obverse was paired with seven different reverse dies, and all but the first pairing show the smiley cracks on the lower obverse. Toned with frosty sunset gold hues on both sides. Weakly struck on the reverse stars, as always encountered from this later die state (Bowers die state IV, Bolender-31a). An impressive example of this variety. Early die states are much scarcer than this later die state, but I'll take a shattered die over unbroken dies any day! Most seen are Bowers die state IV.
Bolender considered this variety a rarity-7 (4 to 12 known) when he wrote his The United States Early Silver Dollars 1794 to 1803. Capt. Haseltine (1881) hadn't found an example of this pairing when his Type Table was published, and Bolender assumed it was a very rare variety. Years of beating the bushes have reduced the rarity to approximately R-5 (31-75) today. Bowers estimates are even higher. The condition census for this variety is as follows: 1). ICG AU-58 East Coast Collection. 2). AU-57 East Coast Collection. 3). PCGS AU-53, the present specimen. 4). AU-50 reported JRCS Early Dollar Census, 9/2000. 5). AU-50 Hollinbeck/Kagin 6/70:617 likely one of the above. 6). XF-45 East Coast Collection. 7-12). XF-45 others, DeCoppet, Baldenhofer, Ostheimer, Higgins, Willasch each as EF-45.
Estimated Value $4,500 - 6,500.
Ex: Superior Stamp & Coin Chalkley Sale, 1/29/90:2851 and from the San Marino Collection.
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| Unsold |
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