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Lot
5563

1865 $1 One Dollar, Judd-435, Pollock-508, Low R.7, PR66 Red and Brown NGC....

2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction #1154

 
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Auction Ended On: Apr 28, 2011
Item Activity: 4 Internet/mail/phone bidders
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Location: Donald E. Stephens Convention Center
5555 N. River Road
Rosemont, IL 60018
Description:
1865 Transitional Dollar in Copper
Judd-435, PR66 Red and Brown
Ex: Taylor, Queller
1865 $1 One Dollar, Judd-435, Pollock-508, Low R.7, PR66 Red and Brown NGC. The obverse die is the design adopted for regular-issue coinage of silver dollars in 1865. The reverse die is the design adopted for use in 1866, with a scroll containing the motto IN GOD WE TRUST added above the eagle's head. Struck in copper with a reeded edge.
Traditionally listed as a transitional pattern, Judd-435 has become a controversial issue with pattern collectors. Many researchers now feel that the coins were struck in the late 1860s by unscrupulous Mint employees for sale to collectors. An argument for the issue's authenticity is the fact that the obverse die was used to strike regular proofs in 1865, so we can be sure it was available to strike patterns in that year. Against the traditional view is the fact that many complete sets of copper patterns were sold to collectors circa 1870. There are approximately one dozen examples of Judd-435 extant, a larger number than one would expect from a dies trial issue. An early auction appearance was in the Fewsmith Collection (Mason, 10/1870), lot 1328. In the description for a related pattern (Judd-430), the cataloger stated that only five specimens of the silver dollar had been struck in copper. Perhaps the coins referred to were true transitional patterns, and the balance of the population represent later restrikes.
A spectacular strike complements virtually unblemished fields. The natural mint color is highlighted with glints of violet and blue. NGC and PCGS combined have certified only this PR66 specimen in the Red and Brown category, with none finer (3/11).
Ex: The Frederick Taylor Collection (Bowers and Merena, 3/1987), lot 586; Queller Family Collection (Heritage, 1/2009), lot 1642; 2011 FUN Auction (Heritage, 1/2011), lot 5350, where it brought $12,650. (PCGS# 70620)

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