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Lot
6299

1794 $1 VF25 PCGS. B-1, BB-1. Most numismatic writers ...

2004 August Pittsburgh, PA Signature Sale #352

 
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Auction Ended On: Aug 19, 2004
Item Activity: 18 Internet/mail/phone bidders
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Location: Pittsburgh, PA
Description:
Well Defined, Problem-Free VF25 1794 Dollar
1794 $1 VF25 PCGS. B-1, BB-1. Most numismatic writers give credit to Mint Engraver Robert Scot for the design of the 1794 dollar. While this is true, it was also a collaborative effort on the part of several people to produce this initial-year coin. David Rittenhouse provided the bullion, determined the fineness, supervised the production, and distributed all specimens struck. Adam Eckfeldt rolled the strip, cut and prepared the strips, hardened the dies, and adjusted the press to fit the planchets to strike the coins. In Rittenhouse's absence, Henry Voigt hired and paid workmen, bought supplies, and at various times built machinery. Albion Cox was the assayer, and officially in charge of trying to figure out how to produce planchets of the arithmetically awkward 1485/1664 fineness. Robert Scot's experience was limited to making dies for copper coins, and he had to quickly learn a new specialty: creating master dies containing nothing but the devices and assembling these and peripheral elements to be punched into each working die.
In spite of the collaboration used to strike the 1794 dollars, the newness of the team in the Mint is apparent on the coins produced. Shortly after the first dollar was struck, the obverse die slipped out of alignment and the remainder of the production run was struck with weakness on the date and the stars on the left side of the obverse. Also, many coins were struck from planchets that show voids, laminations, or other Mint-made problems. Locating a truly problem-free 1794 dollar is a very challenging task for the collector, regardless of the grade. And that is exactly what this piece is: problem-free.
This coin has a particularly attractive blend of brilliantish-silvery accents that are set against the medium deep gray toning seen in the fields and within the recesses of the devices. The striking details are also well balanced from side to side, and what is most surprising is the almost identical sharpness on the obverse stars on the left and right sides. The digits in the date are nearly complete with some fadeaway noted on the bottoms of 179. The most notable pedigree identifier is a small, curved planchet flaw adjacent to the upper left serif of the R in LIBERTY. It was this flaw that enabled Martin Logies to trace the pedigree of this coin. (Martin, by the way, will have copies of his new book on 1794 dollars for sale at the ANA in Pittsburgh). Otherwise, the peripheral legends on the reverse are strongly impressed with only TATES weaker than the other lettering. Magnification reveals a few very shallow adjustment marks on the upper reverse rim.
Of the greatest rarity and desirability to collectors of U.S. type coins, and one of the few problem-free coins in any grade of this important first-year issue.
Ex: Stack's (6/96), lot 1898.
From The Karl Scheible Collection.(#6851) (Registry values: N10218) (NGC ID# 24WY, PCGS# 6851)

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