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Lot: 899
Auction: 1125   		1794 $1 --Repaired--NCS. XF Details....
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  PRESUMED STOLEN!
Please contact:
Detective Christopher M. Keezer
Montville Township, NJ
973-257-4113
ckeezer@montvillenj.org
  Printable Version of Prices Realized for this Auction
 
Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Description
Sharp 1794 B-1, BB-1 Dollar, XF Details


1794 $1 --Repaired--NCS. XF Details. B-1, BB-1, R.4. The acquisition of a 1794 silver dollar is the highlight of any advanced collection of U.S. coins. That said, few numismatists can hope to ever own this classic piece of Americana. Not only does its cost place it beyond the reach of most collectors, but there are precious few specimens that have survived to the present day. And of those that have managed to escape the ravages of time, many, if not most, are plagued with some sort of impairment.
The 1794 dollar's history dates to the early years of the Republic. Indeed, Jack Collins and Walter Breen, in their manuscript 1794: the History and Genealogy of the First United States Dollar, revised January 31, 1993, refer to Alexander Hamilton as the "Grandfather" of America's first silver dollar, based on his seminal January 28, 1791 report to Congress.
Collins and Breen go on to refer to Mint Director David Rittenhouse as the "Father" of the 1794 dollar. The authors state: "He provided the bullion, determined the fineness, supervised the production, and distributed all specimens struck. They then cite Adam Eckfeldt, "... the Mint's factotum and mechanical genius," as "Chief Obstetrician and Foster Parent," because "without him, the strip would not have been satisfactorily rolled, nor the blanks accurately cut and prepared, nor the dies properly hardened, nor the press anywhere near fit to strike the coins."
Mint records show that Rittenhouse made two deposits of silver bullion on Aug. 29, 1794, one for $1,706.82, and another for $294.51. Martin A. Logies, in The Flowing Hair Silver Dollars of 1794: An Historical and Population Census Study, writes:

"Once the silver planchets were prepared, (Chief Coiner Henry) Voight commenced striking the new silver dollars. Immediately, it was apparent that the Mint's equipment, which had functioned well in coining the soft copper cents and half cents, was inadequate to strike the new, larger diameter, hard silver coins with the intended quality. Only 2,000 specimens were originally produced (matching Rittenhouse's silver deposit), all from one set of dies, and then mintage was suspended, pending the arrival of better equipment. Of these, 242 specimens were immediately rejected as being totally unacceptable ... leaving only 1,758 specimens to be delivered on October 15, 1794. Since Mint Director Rittenhouse provided the silver for these dollars, all 1,758 were paid out to Rittenhouse, and it was then he who distributed them to others."

Light to medium gray patination covers the semibright surfaces of this XF Details example. Sharp definition characterizes the design features, except for the typical weakness along the left obverse and reverse borders. Light abrasions are distributed over both sides, and there is a small rim bruise under the 79 of the date, and two or three more at the left reverse rim. A small scratch from the lower middle part of the eagle's left (facing) leg extending to the bottom of the nearest leaf, and a small contact mark on the lower right part of the eagle's neck, help to pedigree the coin for future catalogers and researchers. In this regard, it is instructive to note that this piece does not match the plates or descriptions of the 117 1794 dollars referenced in Collins and Breen, or the 125 examples listed in Logies.
Some light adjustment marks are visible along the left obverse border. The "Repair" NCS alludes to is not readily apparent, though there is a cluster of small marks in the right obverse field that may have been placed there intentionally.
In summary, this is a highly collectible example of one of America's most famous coins, despite a number of surface and rim marks. As such, we expect bidding to be quite strong.(Registry values: N10218) (#6851)

Auction Name: 2009 May Long Beach, CA Signature US Coin Auction #1125
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (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 1-2139)
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.

Item Activity: 13 Internet/mail bidders, 921 page views



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 402, Lot 822 Friday, April 7, 2006 40 ANACS $69,000.00
Auction 280, Lot 7156 Saturday, January 12, 2002 40 NGC $86,250.00
Auction 175, Lot 6470 Saturday, August 2, 1997 40 PCGS $58,650.00
Auction 122, Lot 7084 Saturday, July 30, 1994 40 ANACS $31,900.00
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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. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. 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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