Lot 918
1840. PCGS graded Proof 62 PQ. CAC Approved. Nice even purple and blue toning. Only 15 minted. This boldly defined Select Proof 62 exhibits dusky mirrored fields beneath well-developed toning, and sharp clear devices, which had the coin been brilliant and untoned may qualify it for a Cameo designation. All stars sharply struck. Liberty's hair razor-detailed as well (some specimens in Proof show soft strike on the hair). Liberty and the shield keen-edged as well, with a broad square rim. On the reverse, full feathers and talon details. Very rare.
Silver dollars dated 1840 have always been in strong demand by collectors as the first year of the design type. Most dollars of this era have bold, broad rims, making them very attractive but, at the same time, susceptible to bruises.
According to the Bowers silver dollar encyclopedia, perhaps the odd mintage figure of 61,005 represents 61,000 business strikes plus five Proof or presentation coins, but this is unknown. However, more than five Proofs were eventually struck. The number of Proof dollars struck was nowhere recorded (nor were Proof mintages recorded for most other dates of the next two decades), but if one had to make an educated guess based upon Census figures and earlier auction records, perhaps on the order of 20 to 40 coins. Slightly more of this date were struck than of 1841 or 1842, both of which seem rarer today.
"Conventional wisdom, as published by Walter H. Breen, suggests that restrikes were made of certain Proof dollars bearing the 1840 dates, and of other dollars in the 1840s, but I have seen no evidence of this in my own studies. For purposes of the present book, I take the stand that all Proof dollars 1840-1850 are originals, struck in or about the dates indicated on the coins. I believe that a Proof reverse die was kept on hand and used each year during this period, in the same manner that the large-berries half cent reverse die was used annually to coin half cents during the same period. For a different view, see Walter H. Breen's Proof coin Encyclopedia."
Proof Seated Liberty dollars of this date were issued in sets (containing all denominations from the half cent to the silver dollar) as well as, apparently, individually. Pop 2; 11 finer, 8 in 63, 2 in 64, 1 in 65 (PCGS # 6981) .
Estimated Value $18,000 - 19,000.
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| Realized $19,975 |
