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Lot
4072

1842 $1 PR62 PCGS. Ex: Pittman. Both sides of this coin ...

2002 April Columbus, OH (CSNS) Signature Sale #288

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Auction Ended On: Apr 25, 2002
Item Activity: 4 Internet/mail/phone bidders
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Location: Columbus, OH
Description:
Pittman's Specimen of the Rare Proof 1842 Seated Liberty Dollar, PR62 PCGS
1842 $1 PR62 PCGS. Ex: Pittman. Both sides of this coin reveal appreciable brilliance with a blanket of warm reddish-gold and champagne-lilac patina. As befits a specimen striking, the devices are fully detailed in all areas. The only pedigree marker of note is a nearly horizontal contact mark in the upper obverse field between Liberty's head and the top of the pole.
All known proof 1842 Seated Dollars were struck from a single pair of dies. The obverse is identifiable by slanting die file marks (as struck) around Liberty's left (facing) hand and the top of the ribbon upon which LIBERTY is inscribed. The reverse die is that which Breen describes as the reverse of 1842-1852; Bowers calls it the reverse of 1840-1850. The diagnostics of this important die are:

1. Two defects, joined, appear as projections on the right side of the final A in AMERICA.

2. Each of the three elements in the vertical shield stripes extend into the crossbars with the sole exception of the final element in stripe 4.

3. The final element of stripe 1 extends to crossbar 3.

In his catalog for the Pittman Collection, Akers asserts that the 1842 is one of the more easily obtainable proof Seated Dollars from the 1840s along with the 1840, 1844, and 1847. Of course, with an estimated extant population of 10-12 coins (per Akers, Bowers estimates 7-14 examples), proof 1842 Seated Dollars are anything but common when viewed in the wider context of U.S. numismatics.
Ex: Lester Merkin's September 1967 Sale, lot 271; Lester Merkin's 10/4/69 Sale, lot 376, where it realized $875; John Jay Pittman Collection (Akers, 5/98), lot 1673, where it realized $30,800. (NGC ID# 24ZS, PCGS# 6983)

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