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1845 $1 PR65 NGC. Ex: La Jolla Collection. Normal Date. The Jack Lee Collection of Proof Seated Liberty Silver Dollars inc...

2005 November Dallas, TX Signature Auction #388

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Auction Ended On: Nov 3, 2005
Item Activity: 5 Internet/mail/phone bidders
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Location: Dallas, TX
Gem Proof 1845 Normal Date Seated Dollar
1845 $1 PR65 NGC. Ex: La Jolla Collection. Normal Date. The Jack Lee Collection of Proof Seated Liberty Silver Dollars includes two different examples dated 1845, both clearly Proofs, and struck from two different obverse dies. These coins share a common reverse, however. The reverse is the same die seen on virtually all Proof Seated Dollars from 1840 to 1850, with two projections on the right side of the final A, and with several vertical shield lines extending through the bottom horizontal line. The right hand line of stripe 1 extends to the third crossbar, and the right hand line of stripe 5 extends up to the fourth crossbar. Although the jury is still out, it appears that the Normal Date variety of Proof is considerably rarer than the recut date variety.
This is the Normal Date variety without any evidence of recutting on any digit. The point of the shield is above the center of the upright of 1. Unfinished die work is visible at the left end of the rock below Liberty, and beneath her chin. The lower eyelid is extended by a die line or scratch across the nose. Another die line extends down from the chin to the hair strands along the shoulder.
In the past, these Proof dollars of 1845 have been considered even rarer than they are. Of course, any coin with a total population of just 14 coins is extremely rare. In 1993, Dave Bowers suggested a total Proof population of five to nine coins. Today, we know of the following Normal Date varieties: 1. Garrett Collection (Stack's, 3/1976), lot 261; 2. Smithsonian Institution (per Walter Breen); 3. This coin, with the pedigree listed below; and 4. An impaired Proof offered by American Numismatic Rarities (3/2005), lot 227. In addition to these four coins, we also know of 10 different examples with Recut Date: 1. Eliasberg Collection, offered in the previous lot of the current sale; 2. Dr. John Pellegrini Collection (Heritage, 7/2005), lot 110261; 3. Pittman Collection, part of a complete 1845 Proof Set; 4. Amon Carter Collection (Stack's, 1/1984), lot 251; 5. James A. Stack, Sr. Collection (Stack's, 3/1995), lot 179; 6. Morris Silverman Collection (Heritage, 4/2002), lot 4073; 7. Heritage (7/2001), lot 5315; 8. Heritage (7/2002), lot 8783; 9. Impaired Proof. Heritage (8/1998), lot 8192; and 10. Impaired Proof. Superior (10/2000), lot 3521. While it is possible that there may be one of two duplicate listings, we believe that all of the above are clearly different examples.
This is a deeply mirrored example with light gold and gunmetal-blue color on both sides. The mirrored surface in the fields smartly meets the devices without any transitional area, including within the vertical shield stripes on the reverse. This is an exceptional Gem quality example, and one of the two or three finest known examples of the 1845 Proof Seated Dollars.
Heritage (6/27/1987), lot 4372; Superior (1/1989), lot 4696; David Akers (Auction '89, 7/1989), lot 1153; Kenneth C. Long Estate (Bowers and Merena, 5/1995), lot 1215.
From The Jack Lee Collection, III(#6986) (Registry values: N10218) (NGC ID# 24ZV, PCGS# 6986)

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