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Near Gem Proof 1846 Seated Liberty Dollar

1846 $1 PR64 NGC. Breen-5436. Recut Date. The date is clearly and dramatically recut on this Proof Dollar, with remnants of the first entry about 50% below the final position. Witness the digit 4, with the base of the final 4 standing on the crossbar of the previous 4. The other date elements are less visible, but similarly low. A tiny projection, from the serif of the 1, points out from the left upright of the primary digit 1, just below center. The reverse is from the same die as all other Proof Seated Dollars from the 1840s, and may be the only such die utilized, even though past researchers have reported more than one die. Walter Breen recorded the existence of 1846 Proof Seated Dollars with both a Recut Date and a Normal Date. Unlike 1845, where two varieties do exist, we believe that all 1846 Proof Dollars are from a single die pair with the Recut Date as seen here. In his Proof Encyclopedia, Breen suggested that five different Proofs exist from a Normal Date obverse, however, at least two of those five are also listed in his roster for the Recut Date Proofs!
This gorgeous Near-Gem quality example traces its pedigree to the Pittman Collection, and before that back to F.C.C. Boyd. In the mid-1940s, much of the Boyd Collection was offered by Abe Kosoff and Abner Kreisberg, who billed this offering as the "World's Greatest Collection." A choice Proof, this lovely coin has deep gold, gunmetal blue, and steel color over deeply mirrored surfaces and extremely sharp design features. A few minor hairlines are noted under the toning, but none of these are of any concern. Determination of the specific Proof population for this date requires further pedigree research, although it is reasonably safe to suggest that this date is more plentiful than most others in the 1840s. Still, probably less than two dozen exist.
Ex: World's Greatest Collection (Numismatic Gallery), lot 135; Adolphe Menjou (Numismatic Gallery, 6/1950), lot 2091; John J. Pittman (David Akers, 5/1998), lot 1674; Richmond Collection (David Lawrence, 11/2004), lot 1511.
From The Jack Lee Collection, III(#6987) (Registry values: N7079) (NGC ID# 24ZW, PCGS# 6987)

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Auction Dates
November, 2005
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