1846 $1 PR63 NGC....
Coveted PR63 1846 Seated Dollar1846 $1 PR63 NGC. Breen-5426, a proof-only variety that he considered to be very rare. The date is widely repunched. The date was first entered too low and slanted slightly downwards. It was largely effaced, then repunched level but slightly high. Obvious traces of the initial logotype are present near the bases of the 846, such as the diagonal and crosslet of the 4, and the upper portion of the closed loop of the 6.
Breen (1988) and Bowers (1993) list two varieties of proof 1846 Seated dollars. The other proof variety shows no repunching of the date. Bowers adds, "about a half dozen specimens, including the National Coin Collection [Smithsonian] coin, are known to Walter H. Breen."
But according to Duncan Lee, in an August 2006 supplement to the Coin Dealer Newsletter, "all known proofs of this year  are restrikes and have [a] dramatically recut date." Lee is incorrect, since a normal date 1846 proof did appear in our 2007 FUN Signature auction as lot 1062. The date is set slightly further to the right relative to the blundered date variety, with the left edge of the upright of the 1 aligned with the shield point. The present blundered date specimen has the upright of the 1 centered beneath the shield point.
This brings up another question. The blundered date proofs use the usual shared reverse of 1840 to 1850, identified by die lumps on each side of the center of the right upright of the final A in AMERICA. What about the normal date proofs? The images for the aforementioned lot 1062 are high quality and show no evidence of lumps on the A.
The present shared reverse, blundered date 1846 proof is attractively toned in caramel-gold, with glimpses of ocean-blue and plum-mauve near the rims. A brief thin mark is noted on the reverse at 1 o'clock, and there is a pair of subtle spots on the field near Liberty's knees. Otherwise, it is an outstanding, fully struck example of this desirable proof date. Census: 3 in 63, 9 finer (2/08).
Ex: Amon G. Carter, Jr. Collection (Stack's, 1/1984), lot 252.
From The Queller Family Collection of Silver Dollars.(Registry values: N7079) (NGC ID# 24ZW, PCGS# 6987)
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