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Lot
5004

1776 $1 Continental Dollar, CURENCY, Pewter MS62 NGC. Newman 1-C, W-8445, R.3....

2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction #1154

 
Sold for: Not Sold
Auction Ended On: Apr 28, 2011
Item Activity: 4 Internet/mail/phone bidders
1,437 page views
Location: Donald E. Stephens Convention Center
5555 N. River Road
Rosemont, IL 60018
Description:
Exquisite MS62 1776 Continental Dollar
Pewter, CURENCY, Newman 1-C
1776 $1 Continental Dollar, CURENCY, Pewter MS62 NGC. Newman 1-C, W-8445, R.3. The CURENCY Continental dollars were likely struck in New York City in 1776, prior to that city's capture by the British in September of that year. The purpose behind their manufacture was to replace the one dollar Continental Currency note. Although a few silver examples are known, those were presumably made as patterns, to demonstrate the issue under ideal circumstances. Brass pieces were struck, likely as test pieces, from prototype Newman 1-A and 1-B dies, but no brass or copper examples are known for Newman 1-C.
Enough pewter examples of Newman 1-C have survived that the issue must have been intended to circulate. The leading services have certified a Good 4 and a VG10, along with numerous pieces in Fine and Very Fine. It is interesting that of the initial die pair, the reverse was modified first, despite the blundered CURENCY legend on the obverse. This was because an entirely new obverse die was needed to correct that error, while the appearance of the existing reverse die could be improved by reengraving the outlines of the 13 rings from dots to lines.
The present lot is a magnificent example of this famous and popular Early American type. Both sides are minimally abraded and display blended chestnut-gold and olive-green toning. The obverse is remarkably free from spots, and planchet issues are limited to a small flaw just inside the rim at 8 o'clock. The stand of the R in YOUR has shifted but remains intact. The reverse has a few light charcoal-gray spots that determine the grade but have little impact on the eye appeal, which is far superior to the typical pewter Continental dollar. The dies are rotated approximately 135 degrees clockwise from coin turn. Census: 11 in 62, 11 finer (3/11).
Listed on page 81 of the 2011 Guide Book. (PCGS# 791)

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