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Lot 799 |
1794 $1 VG10 PCGS....
2008 May Long Beach, CA Signature Auction #1108
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Bid Information
For your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.Minimum Next Bid
Bid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of Bidders
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Consignor Has Not Yet Submitted a Reserve:
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No Reserve:
This lot is being sold without a consignor reserve.
(Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserve Met:
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Minimum Bid:
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What's This?
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Heritage retains 10% of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
What's This?
The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.Our Auction Results Archives now allow our members to make anonymous offers on items that may not be auctioned again for some time. Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell.
This Make Offer to Owner (MOTO) program is still in the Beta Test phase, and we would appreciate any suggestions to help us improve our system. Please email your suggestions to Webmaster@HA.com.
Heritage retains 10% of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
BP - Buyer's Premium
A Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $9) per lot. Please see #2 in our Terms & Conditions.Not Sold
This indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.Opening Bid
The opening bid is the minimum amount required to begin bidding, and is generally a percentage of the low estimate.
| Sold for: |
$115,000.00
(includes BP  ) Bid Source: Internet bidder |
| Auction Ended On: | May 28, 2008 |
| Item Activity: |
9 Internet/mail/phone bidders
7,550 page views |
The John N. Brooks Specimen
"Mint Director David Rittenhouse wanted to begin distribution of newly minted silver dollars as soon as possible, so on August 29, 1794, he made a deposit to the Mint of his own, with 1734.50 troy ounces of refined silver ingots, representing a value of $2,001.34. ... the ingots were alloyed with copper to adjust the fineness. It was at this point, however, that the Mint chose to depart from its strict adherence to the law, choosing instead to adopt the standard of 0.9000000 fineness recommended by the Assayer Albion Cox (and endorsed by Rittenhouse) in preference to the odd official standard [0.892479], based on Cox's contention that the increased purity of silver was necessary to ensure the coins would not tarnish too darkly. Impurities and gas bubbles still remained in the silver, resulting in areas of surface porosity, planchet pits, cracks, laminations and other flaws still visible after the coins were finally struck. ... The Mint's difficulty in striking these new dollars is evident (at least to some degree) on every known specimen--with the left sides of both the obverse and reverse distinctly more weakly struck than the right sides, most probably due to the faces of the dies not being aligned completely parallel."
This piece displays evidence of all the problems the early Mint encountered when striking these first dollars. The stars on the left portion of the obverse are noticeably weak from the misaligned dies. A few gas bubbles are evident, but there are even more small to medium-sized planchet laminations present--several of which positively identify this as the Brooks specimen.
Only the obverse is reproduced in Logies' book as the reverse was not plated in the 1914 catalog. The image in the 1794 book is photocopied from the catalog and is highly granular as a result. Comparison between the image in the book and the actual coin shows the coin to have remarkably smoother surfaces than one would expect from the book. There are, however, several prominent pedigree identifiers that are plainly evident on the obverse: diagonal adjustment marks, one on the right side of the 4 in the date, and another below star 15; a shallow, nearly horizontal planchet flaw in the right field, and an angling planchet depression in front of the nose of Liberty. What Logies calls "a hockey-stick shaped scrape directly in front of Liberty's face" is actually a combination of a short planchet flaw and a minor scrape that was magnified by a poor original photo and a less-than-stellar reproduction.
As stated, the surfaces are remarkably smooth and problem-free when compared to the grainy reproduction in Martin Logies' book. In addition to the obverse pedigree identifiers mentioned above, there are a pair of shallow planchet flaws above and below the eagle's head. The surfaces are essentially free from post-striking impairments. The lettering on the left portion of the reverse is also weakly defined, which is consistent with all 1794 dollars we have seen, which were struck from misaligned dies. The surfaces overall are medium gray with lighter silver-gray accents over the high points of the devices. Even wear is seen over each side of this pleasing and attractive example of America's first silver dollar.
Ex: John N. Brooks Collection (United States Coin Co., 12/1914), lot 17.
From The Northwest Collection.(Registry values: N4719) (#6851)
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Service and Handling Description: Coins & Currency (view shipping information)
Sales Tax information | PCGS Guarantee of Grade and Authenticity | Terms and Conditions
| Lot | Date | Grade | Service | Realized |
|---|---|---|---|---|
| Auction 444, Lot 1709 | Sunday, August 12, 2007 | 10 | PCGS | $132,250.00 |
| Auction 404, Lot 2099 | Saturday, April 29, 2006 | 10 | PCGS | $109,250.00 |
| View prices realized from this item in other grades (you must be signed in) | ||||
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PLEASE NOTE:
All prices realized reflect the final hammer price PLUS the buyer's premium
in auctions that charge a buyer's premium.
Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium.
All information listed is intended to be as accurate as possible, but errors are possible.
Please use this guide carefully and inform us of any inaccuracies.
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BP - Buyer's Premium
A "Buyer's Premium" is charged in addition to the successful bid according to the rate defined in our terms and conditions.| Grade | Coin World (Coin Values) |
Numismedia Retail |
Numismedia Wholesale |
Numismedia NGC (nmn) |
Numismedia PCGS (nmp) |
PCGS Price Guide |
PCGS+ |
|---|---|---|---|---|---|---|---|
| 8 | $100,000 | $109,380 | $87,500 | $81,500 | $81,500 | $92,500 | --- |
| 10 | --- | $117,035 | $93,625 | $86,750 | $86,750 | $100,000 | --- |
| 12 | $125,000 | $131,250 | $105,000 | $96,500 | $96,500 | $115,000 | --- |
| *All information listed is intended to be as accurate as possible, but errors are possible. No item may be returned or refused based on this information which is provided as a service to our customers. You should contact each pricing source directly to determine the accuracy of this information. | |||||||
| Service | Grade | Population in this Grade | Population of Higher Grade | Population in All Grades | + | Mintage | Engraver |
|---|---|---|---|---|---|---|---|
| PCGS | Not available from PCGS | 1,758 | Robert Scot | ||||
| NGC | 10 | 0 | 32 | 33 | - | ||
| CAC | 10 | 0 | 4 | 4 | - | ||
| *This information is provided and owned by PCGS. Its display and use are subject to the licensed agreement between PCGS and Heritage Auctions. | |||||||
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