There are currently no items available for purchase in this Department. Search our Auction Archives below to find item values.
Opening Bid
:
Current Bid:
Reserve Amount:

You are the current high bidder on this lot with a secret maximum bid of %bidPretty%.
(%bidBP% w/Buyer's Premium (BP) ).


Notice: You are the current high bidder on this lot, but the next highest bid is within one increment. That means that any additional bids on this lot will outbid you. To increase your chances of winning, enter your highest maximum bid.

You are the current high bidder on this lot with a secret maximum bid of %bidPretty%.
(%bidBP% w/Buyer's Premium (BP) ).

You are the current high bidder on this lot.
(Sign-In to see your maximum bid)

Your secret maximum bid of %bidPretty% has been outbid.

Your secret maximum bid of %bidPretty% does not meet the reserve.

(Sign-In to see your maximum bid)

Your secret maximum bid does not meet the reserve.
(Sign-In to see your maximum bid)

Lot
33503

1797 $1 9x7 Stars, Small Letters MS64 NGC. B-2, BB-72, R.4....

2013 November 15 - 16 Selections from the Eric P. Newman Collection Part II Signature Auction - New York #1190

 
Sold for: Sign-in or Join (free & quick)
Make Offer:
Make Offer to Owner

The owner of this Item has been actively participating in the Make Offer to Owner program.
Claim Item: Sign-in or Join (free & quick)
Auction Ended On: Nov 15, 2013
Item Activity: 16 Internet/mail/phone bidders
1,523 page views
Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
1797 B-2, BB-72 Dollar, MS64
9x7 Stars, Small Letters
Only Mint State Example Known
The Bowers-Borckardt Plate Coin
Finest Known by Far
1797 $1 9x7 Stars, Small Letters MS64 NGC. B-2, BB-72, R.4. Ex: "Col." E.H.R. Green. The strike is nearly perfectly centered. Stars 7 through 9 are somewhat weakly struck, as are the centers of both sides, especially on the eagle. Delicate original champagne toning is visible over satiny luster on the obverse, contrasting against brilliant frosty luster on the reverse. Both sides exhibit vivid splashes of gold and iridescent toning, more prominent on the obverse.

Obverse Die. The obverse appears in its early die state on B-2, BB-72, and in later states on B-1, BB-73. The stars are arranged with nine stars left and seven stars right, called "7 Stars Facing" in older references, including on the Eric P. Newman envelope.

Reverse Die. The reverse is the "workhorse die" that made six different appearances on the Draped Bust, Small Eagle dollars. Four of the six varieties appear in the present offering, and each is an amazing representative. The early dollar student will welcome the opportunity to compare the die states of these four coins.

Die State. The obverse die shows slight evidence of lapping in its earliest state, the only state of the obverse seen on this variety. The reverse die is lightly lapped, in the same state as 1796 B-1, BB-66.

Condition Census. An offering of even an XF or AU example is a rare event. The 1945 World's Greatest Collection specimen was graded Fine to Very Fine. The coin in Bolender's personal reference collection was only Fine. The Amon Carter example, sold in 1984, was a nice AU coin, today graded AU55+ PCGS. Even though it falls short of Mint State, the Carter coin is one of the three finest known examples. The Norweb specimen was Fine 15, and the Eliasberg coin was a nice VF30. Harold Bareford had a significant date and major type collection of high-grade early dollars, but it lacked a 1797 B-2. Graded MS64 by NGC, the present coin is the highest graded by six full points. The Green-Newman 1797 B-2 is the ONLY Mint State example known of this very rare die marriage and the finest known by far.

Appearances. This specimen is illustrated as part of NGC's presentation of the Newman Collection at www.NGCCoin.com. The Newman specimen is the plate coin in the 1993 first edition of the Bowers-Borckardt reference, Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia. This silver dollar was recorded as MS62 in the Notable Specimens of that 1993 reference, with a note that it was "examined and graded by the author, March 1993." During preparation of the Bowers-Borckardt reference 20 years ago, Eric P. Newman kindly sent several of his early dollars for examination and photography. The chance to examine those coins helped to make that reference a success. The Newman specimen was unaccountably not listed among notable specimens in the 2013 edition of the Bowers Silver Dollar Encyclopedia.

Commentary. The 1797 silver dollars all represent major types, each represented by a single die marriage. The present Newman-Green B-2, BB-72 example of the 9x7 Stars, Small Letters is the rarest of the 1797-dated varieties. As the only Mint State example known of the B-2, BB-72, certified MS64 by NGC, this remarkable coin is certainly destined to set a new record among 1797-dated silver dollars.

Estimates of the overall rarity of the B-2, BB-72 have varied widely over the years. In the 1881 Catalogue of John W. Haseltine's Type Table of U.S. Dollars, Half Dollars & Quarter Dollars (the "Type Table" sale), Haseltine called this marriage a "very rare variety," writing:

"(Lot) 98 1797; No. 2; 7 stars facing; same die as no. 1, but there seems to be an additional curl on top of the head under letter E in "Liberty;" rev., 7 berries; 2 leaves point to first T in "States;" legend in small letters; fine; very rare variety."



Plate photos were lacking from the Type Table catalog, but it was the first specialized sale of early U.S. dollars, half dollars, and quarter dollars described by variety. A portion of Haseltine's notice for the sale read:

"In this catalogue, I offer for public competition my Type Table of the United States Dollars, Half Dollars and Quarter Dollars, correctly described as to variety and condition. In many of the varieties in the Type Table, I have met but with a single specimen, and in that case they are termed excessively rare. Particular attention has been directed to the varieties of the early dates, and it is perhaps unnecessary to state that I have no doubt quite a number of varieties will be found in the higher dates, such as the different mints and positions of figures in dates; to the latter I have not given close attention, as they are put in the die with a punch. Before deciding to sell my Type Table at auction, I had disposed of a number of the rare varieties. In order that the list may appear more uniform, I have added those in an addenda (as not being for sale) at the end of the catalogue, together with those that I have not owned, but which I have seen in other collections."


The Haseltine variety descriptions were all that collectors and dealers had to classify early silver dollars during the period between 1881 and 1950. In fact, each of Eric P. Newman's envelopes for the early dollars records the Haseltine number.

In 1950, Milferd H. Bolender published The United States Early Silver Dollars from 1794 to 1803. Bolender's reference included plate photos to help attribute die marriages. Bolender, a coin dealer from Illinois, also collected early dollars, assembling over the decades an extensive reference collection. His collection of early dollars by die marriage was sold at public auction in February 1952 in his own 183rd Auction Sale.

Bolender called the B-2 die marriage very scarce, rating it R.4 (76-200 pieces known). In 1950 Bolender also correctly noted, for the first time, the other five uses of the reverse die used in striking the B-2, BB-72:

"OBVERSE From same die as B-1
REVERSE Small letters. From same die as 1795 B-14; 1796 B-1, B-2 and B-3; and 1798 B-2."



For many years, early dollar collectors pointed to the February 28, 1797 Mint delivery warrant of 342 coins, and quoted that quantity as the original mintage of this variety. Others have suggested that the entire 7,776-coin production of silver dollars in 1797 were examples of this die marriage. Neither is likely true, and the mintage was probably somewhere between those extremes. Today, perhaps 150 to 200 examples survive, but few grade better than XF40.

Provenance. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $125.00; Eric P. Newman Numismatic Education Society.(Registry values: N14284) (NGC ID# 24X4, PCGS# 6866)
Items being sold are from the extensive collection of Eric P. Newman Numismatic Education Society (a Missouri not-for-profit corporation) and have been assembled over a period of 90 years. Proceeds of the sale of all items will be used exclusively for supplementing the Society’s museum operations and scholarly numismatic research efforts and for the benefit of other not-for-profit institutions selected by Eric P. Newman Numismatic Education Society for public purposes.

View large image(s) of this item

Service and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  | NGC Coin Grading Guarantee  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Guides and Pricing Information:

Previous Prices from Heritage Auctions
Sign-in or Join (free & quick)
Price Guide
Sign-in or Join (free & quick)
Population Guide
Sign-in or Join (free & quick)
Find Auction Prices for Comparable Items:

Photographs:
Sign-in or Join (free & quick) to see the full image





Videos:
FLOOR AUCTIONS View All
Open For Bidding
Coming Soon
HERITAGE MEMBERSHIP
880,935
bidder-members
$973,594,908
sold in the last year
VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 
CONSIGNMENTS WANTED
Consign to the 2015 January 4 - 5 World & Ancient Coins Signature Auction - New York.
Learn About Consigning With Us
Heritage has been my number ONE choice for both buying and selling…
J.Q.,
Reston, VA
HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com
Take our 2014 Coin
and Currency Survey
Grand prize:
A Certified Uncirculated
1907 High Relief $20!*
Take the Survey
HERITAGE VIDEO TUTORIAL
GETTING THE MOST OUT OF SEARCH
RECENT AUCTIONS
2014 August 5, 7 & 9 ANA US Coins Signature Auction - Chicago
2014 August 5, 7 & 9 ANA US Coins Signature Auction - Chicago
REALIZED $36,100,727
2014 August 8 ANA World and Ancient Coins Platinum Night Auction - Chicago
2014 August 8 ANA World and Ancient Coins Platinum Night Auction - Chicago
REALIZED SO FAR $10,492,790
2014 August 6 ANA Currency Platinum Night Auction - Chicago
2014 August 6 ANA Currency Platinum Night Auction - Chicago
REALIZED $2,960,604