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Lot
5004

1776 $1 Continental Dollar, CURRENCY, Pewter MS64 NGC. Newman 2-C, Hodder 2-A.3, W-8455, R.4. ...

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 7 Internet/mail/phone bidders
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Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:

Historic 1776 Continental Dollar, MS64
CURRENCY Issue in Pewter, W-8455
1776 $1 Continental Dollar, CURRENCY, Pewter MS64 NGC. Newman 2-C, Hodder 2-A.3, W-8455, R.4. Today we estimate that 1,000 to 1,300 examples of Continental Currency coinage exist in all grades. In the absence of original mintage records, it is impossible to know how many were struck. Even an estimated survival rate is impossible to determine, although research in other coinage issues from the 1790s suggests that survival rates range from 3% to 10% of the original mintage. If the same survival estimates apply to the Continental Currency pieces, we can suggest a broad range of 10,000 to 39,000 coins for their production. There were several groups of dies employed for the Continental coins -- one CURRENCY, one CURENCY, one CURRENCEY; N. HAMPS. left and right of MASSACHS.; and other minor variants. Most numismatists believe that the workmanship is so similar that the same diesinker created all of the dies. James Spillman suggested an alternate hypothesis that two different artists made the two groups of dies during a competition to select a diemaker.
This splendid example displays lovely light gray surfaces with darker gray patina, mostly on the high points, and traces of champagne toning on the reverse. Considerable evidence remains of fully prooflike fields on each side. Typical surface marks are grade-consistent without no distracting problems. The strike is bold, and the eye appeal is excellent. Few Continental pieces have been certified in the highest grades.
Any viewer of a Continental dollar who contemplates the design and legends cannot help but be struck by how much they resonate with themes current in American life and culture to this day: the value of hard work and unity; the federal and state system of government; and the identification of all Americans, regardless of place of residence, as citizens. Coupled with the hard-to-find 1776 date on American coinage, these pieces see enduring popularity. Listed on page 85 of the 2013 Guide Book. Census: 7 in 64, 1 finer (6/12).
Ex: Los Angeles Signature (Heritage, 8/2009), lot 1008, which brought $126,500. (PCGS# 794)

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