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1776 $1 CURENCY

1999 ANA Signature Sale #208

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Auction Ended On: Aug 12, 1999
Item Activity: 4 Internet/mail/phone bidders
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Location: Chicago, IL
Near-Gem 1776 Continental Dollar, Ex: Norweb
1776 Continental Dollar MS 64 PCGS. Ex: Norweb. CURENCY. Pewter. Breen-1089; Crosby Pl. VIII, 15; Newman 1-C. Formerly part of the famous Norweb Collection, where it was described as, "Rich medium gray with some prooflike surface. Well struck. Slightly off center at the top of the reverse, but nothing materially affected. Usual ornamented edge: twin olive leaves. Obverse die state: very late state of the obverse break, reaching now from top of G down to left base of N, top of O, to rims; and from top I through first circle; cud beneath right base N, touches T, to top of A. Another forming to right of serif of T to top of T, to top of A. Cud now formed over top of GI of FUGIO. Reverse die state: a further recutting of this die ... later than the usually seen pewter specimens from this die: K in NEW YORKE recut; Y of JERSEY strong; W of DELAWARE ... doesn't touch line of circle; M/M, A/A, R/R in MARYLAND; G/G, A/A in VIRGINIA; N recut, IL touch, no line beneath IL in N. CAROLIN; R/R, O/O, L touches line, no line under IN in S. CAROLIN; G/G, I/I, A/A in GEORGIA, line break under IA."
While most numismatists agree that these pewter pieces had little more than token value when used in commerce, there can be little doubt that this is one of the most important coinage issues from the American Revolution. In addition to its rarity and historical importance, this coin is of extreme interest from a numismatic standpoint. Much controversy surrounds the composition of these pieces, with Breen describing them as tin in his Encyclopedia. Auctions by Bowers and Merena, Inc., however, included the following entry directly following their description of this coin in their Norweb Collection II catalog: "With the cooperation of Mr. Eric P. Newman, two of his pewter specimens were sent to ANACS for x-ray spectrographic analysis. The results were as follows ... N 1-C. Tin: 84%, lead: 13%, copper: 1.5%, other trace elements. This analysis clearly establishes the fact that these pieces were made of a metal appropriately called pewter, or more technically, Ley metal. The older theory that these were made of over 90% tin can be laid to rest now." As this is still, however, a hotly contested issue, we leave it to the bidder to decide the true composition of these pieces. Overall, a noteworthy rarity and an important opportunity for the colonial specialist. From the Litrenta Collection. Listed on page 33 of the 1999 Guide Book.
Ex: Norweb Collection (Bowers and Merena, 3/88), lot 2454, where it realized $13,200; Purchased by Ms. Norweb from Hollinbeck Stamp & Coin Company on June 7, 1958.
(PCGS# 791)

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