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1776 $1 Continental Dollar, CURRENCY, Pewter MS62 PCGS....
Lot: 2139,
Auction: 2008 May Long Beach, CA Signature Auction #1108
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| Sold for: | Sign-in or Join (free & quick) |
| Ended: | May 28, 2008 |
| Item Activity: |
7 Internet/mail bidders
 3,912 page views |
Description:
Important MS62 Pewter Continental Dollar
CURRENCY, Newman 2-C
1776 $1 Continental Dollar, CURRENCY, Pewter MS62 PCGS. Crosby Pl. VIII, 16, Newman 2-C, Breen-1092, R.3. Struck from perfect dies, without the rust often seen for this die marriage within the rings for Pennsylvania, Maryland, and New Hampshire. The second obverse die for the series, which corrects the CURENCY misspelling. The reverse die is the same used to strike the earlier die pairings, although the beaded rings seen on the extremely rare Newman 1-A and 1-B were reshaped by the mint engraver into the unbeaded links present on Newman 1-C.Researchers now believe that the Continental dollars were struck as patterns, intended to replace lower denominations of Continental Currency. Evidence for this comes from the designs themselves, which are similar to those on the February 17, 1776 notes. Eric Newman also noted that the dollar denomination was absent from issues of Continental Currency between July 1776 and September 1778. Although most Continental dollars are struck in pewter or tin, some are struck in silver, which is presumably the intended alloy had the series lasted beyond the pattern stage. Of course, the shortage of specie was the root cause of the issuance of Continental Currency to begin with. Had Continental dollars been issued in silver in quantity, they would have soon traded at a significant premium to their equivalent in unbacked Continental Currency.
The present piece is a magnificent example of this important Continental Currency pattern. Generally pearl-gray, with slightly deeper dove-gray noted on the left reverse. Satin luster shimmers across both sides, and spots are minimal, limited to minor specks near the first R in CURRENCY, the O in CONTINENTAL, and on the reverse border near the Rhode Island ring.
The reverse is beautifully smooth, and on its own merits a higher grade. The obverse is also undisturbed, aside from two pinscratches within the inner ring that show occasional evidence of faint smoothing. Continental dollars are often encountered circulated, corroded, repaired, or damaged, and the present lustrous and bold example is certain to be the centerpiece of an important Early American holding. Encapsulated in a green label holder, and listed on page 81 of the 2009 Guide Book. (#794)
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Shipping Description: Coins & Currency (view shipping information)
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(Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)This lot is in: Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-3858)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
Guides and Pricing Information:
Previous Prices from Heritage Auctions
| Lot | Date | Grade | Service | Realized |
|---|---|---|---|---|
| Auction 184, Lot 5376 | Saturday, March 21, 1998 | 62 | PCGS | $575.00 |
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