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Lot
7732

1794 $1 VF25 PCGS. B-1, BB-1, R.4. One can probably ...

2002 September Long Beach Signature Sale #300

 
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Auction Ended On: Sep 27, 2002
Item Activity: 11 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Important 1794 Dollar--Ex: Davies-Niewoehner Specimen
1794 $1 VF25 PCGS. B-1, BB-1, R.4. One can probably count on the fingers on one hand the number of public auction sales in the last hundred years that offered more than one specimen of the 1794 Dollar in the same sale (our 1993 ANA Sale was one of them). Over the past five years or so, demand has exceeded supply for the rare and desirable 1794 Dollar.
In 1950, Milferd H. Bolender noted the following in his The United States Early Silver Dollars from 1794 to 1803: "Only one pair of dies was used in striking the silver dollars in 1794. Only 1,758 pieces were coined. Usually found with the impression weak on lower part of date and the stars on left, and sometimes the border milling on left does not show up. The corresponding portion of reverse, especially the word STATES, will therefore also appear weak." These striking characteristics seem to fit this specimen, with maybe a slightly better than average strike on the stars and date noted.
With the help of Jack Collins' unpublished manuscript on 1794 Dollars, it was possible to trace this specimen to Paramount's 1974 ANA Sale, lot 2. According to Jack, the coin was "bought in" at $8,500 in that sale. It was offered again by Paramount the following year as part of their Davies-Niewoehner Collection, lot 332. The piece sold in that auction and realized $9,250. It was later offered in our 1993 ANA Auction, lot 5365, where it brought $15,400.
Jack Collins noted the following regarding this specimen: "Weak at the lower left stars, upper reverse legends. Small pit or nick nearly midway between the juncture of the throat, chin, and the twelfth star; nick on the crosslet of the 4, pit above the space between 17. Reverse with a diagonal scratch from near the point of the uppermost right leaf toward the border between S O, another slants up from the border below the right ribbon, almost touching the point of the right stem; a third slants between D S."
The surfaces are light gray overall with somewhat deeper peripheral toning. Each side is significantly free from handling marks and adjustment marks.
From the Joseph Sadowski Collection of Early Dollars.
Ex: 1974 ANA Sale (Paramount, 8/74), lot 2; Fred E. Davies and June Niewoehner Collections (Paramount, 2/75), lot 332, where it brought $9,250; 1993 ANA Sale (Heritage, 7/93), lot 5365, where it realized $15,400; anonymous intermediary; Joseph Sadowski. (NGC ID# 24WY, PCGS# 6851)

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