1794 $1 AU55 NGC. B-1, BB-1, R-4. The McCoy Collection Specimen, Martin Logies Condition Census #10. A beautiful example o...
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For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
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What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
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Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
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- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
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All traditional sales policies still apply. Due to the nature of the business and market volatility, there is no return privilege once you have confirmed your sale, and penalties can be incurred on cancelled orders.
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Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
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- There is no penalty for paying off early.
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SMS Alerts- Receive a text message approximately 35 lots ahead of your item being up for bidding at auction, with a link to bid in Heritage Live in the text message. Haven't registered? Visit MyProfile to sign-up for free by entering your mobile number. The green icon indicates Live Bidding Text Alerts are on for that lot. Live Bidding Text Alerts are only available for lots in live sessions.
Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
Of the 1,758 coined, extensive research conducted by Jack Collins (1993) and later updated and published by Martin Logies has found that approximately 135 specimens of 1794 silver dollars exist today. Of these, the vast majority are in much lower grades, and many have been plugged, repaired or otherwise enhanced. Demand has always been quite strong for this issue, it is the first silver dollar struck by the Philadelphia Mint, and as a silver dollar it is the basic unit of coinage. A small number were coined and most entered circulation. Unlike many other popular rarities, these were not made for collectors but were coined simply to serve in the channels of commerce. George Washington was President when these were struck. To survive, a 1794 silver dollar would have to have been randomly set aside or lost and later recovered after these were no longer in circulation. The mere fact that every known specimen has been tracked is a testament to the great rarity and importance of this issue. Coin collectors of all sorts need or desire an example, some want one simply because these were the first silver dollars coined, others need one to represent the first year of issue for their type collections, many are needed by Bust dollar collectors to represent the date and die pairing. Constant pressure keeps demand for this date very high, and new price records seem to be achieved with the sale of each specimen. This particular coin is truly a delight to behold, and while not quite mint state, it is fairly close to that grade level and any collector would be honored to own this classic American icon.
In a letter to this cataloger, Numismatist and Early Silver Dollar specialist W. David Perkins wrote:
Enclosed is a partial scan of Bolender's invoice (on his stationery) for the Ostheimer - Baldenhofer - Kern - Col. Green - Woodin - Newcomer - Granberg (etc.) 1794 Dollar. As you know, I acquired the extensive early dollar correspondence of the Ostheimers, including this invoice, directly from Mrs. Ostheimer about a year ago.
This invoice was accompanied by a letter from Bolender dated December 28, 1959, stating in part, "Enclosed please find the final list of the dollar collection, revised and adjusted as explained in my letter to you under date of Dec. 22nd."
Unknown to most numismatists, Bolender purchased en bloc the silver dollar collection of W. G. Baldenhofer of Springfield, Ohio in December 1959. This invoice included the majority of the extensive collection of silver dollars formed by Baldenhofer: Early dollars 1794-1803; Gobrecht and Seated Dollars (mostly in Proof); Trade Dollars; Morgan and Peace Dollars. There were 285 silver dollars in total. It is interesting to note that this 1794 Dollar alone will realize multiples of the total price that the Ostheimers paid for the entire Baldenhofer silver dollar collection 45 years ago!
The pedigree is consistent with the pedigree as noted in the unpublished Jack Collins manuscript on 1794 Dollars. The pedigree as listed by Bolender reads, "1794 B-1 Unc. Formerly in the collections of H. A. (sic) Granberg of Oshkosh, Wisconsin, Waldo Newcomer of Baltimore, Maryland, banker, William H. Woodin, Col. Green, Jerome Kern. One of the 3 or 4 best known, very rare." [Note that at this time the two "Lord St. Oswald" 1794 Dollars were unknown, both called Mint State today.] The Ostheimer's cost from Bolender for this specimen was $6,250.00. Bolender noted in his estimate that "their present approximate fair value" was $8,200.00. The $6,250.00 represents a 25% discount for the coin. The Ostheimer's purchased the entire Baldenhofer silver dollar collection at 25% off Bolender's estimates.
Lastly, the pedigree in the Collin's manuscript lists Catherine Bullova as a previous owner. Per a conversation I had with her at the Philadelphia ANA Convention a few years ago I don't believe she ever owned this specimen. She had seen this specimen, but to the best of my knowledge did not ever own it.
John F. McCoy Collection (W. Elliott Woodward, 1864); Joseph Zanoni; James Ten Eyck; Mortimer Livingston MacKenzie (Edward Cogan, 1869), lot 15; Lorin G. Parmelee (New York Coin and Stamp, 1890), lot 681; H. O. Granberg; William H. Woodin; Waldo Newcomer; Col. E. H. R. Green; Jerome Kern; Clint Hester; W. G. Baldenhofer; Alfred J. and Jackie Ostheimer; Cabinet of Lucien M. LaRiviere, Part II (Bowers and Merena, 2001), lot 324.
From The Jack Lee Collection, III(#6851) (Registry values: N14284) (NGC ID# 24WY, PCGS# 6851)
Service and Handling Description: Coin/Currency (view shipping information)