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Lot
4071

1840 $1 PR64 PCGS. Struck from the same dies as the ...

2002 April Columbus, OH (CSNS) Signature Sale #288

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Auction Ended On: Apr 25, 2002
Item Activity: 4 Internet/mail/phone bidders Number of Bidders
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Description:
Choice Proof 1840 Silver Dollar, A Desirable First-Year Example
1840 $1 PR64 PCGS. Struck from the same dies as the preceding example, yet with die rust throughout the reverse field. The absence of this feature in the field of the PR61 coin suggests that this near-Gem was struck at a later date. As stated above, we do not know whether both of these coins were restrikes. This is a richly toned example with olive and lavender-gray color over mottled electric-blue and orange-gold undertones. The reflective qualities are evident at a few angles, the crisply impressed devices are fully appreciable. Identifiable by an obverse lintmark (as struck) that connects the two denticles below the 8 in the date.
It has been suggested that the original mintage (61,005 pieces) of the 1840 Seated Dollar accounts for 61,000 business strikes and five proofs. Judging by current NGC and PCGS population data, however, it seems likely that the Mint produced more than five proof Silver Dollars in this, the first year of the type. The exact number of coins delivered is not known with certainty, but it seems probable, despite what Bowers says in his 1993 encyclopedia, that some of the examples extant are restrikes. Nevertheless, it is probable that no more than 20 proof Seated Dollars dated 1840 were produced. Some of the 26 coins known to NGC and PCGS (1/02) are likely resubmissions. (NGC ID# 24ZP, PCGS# 6981)

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