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Choice Proof 1846 Silver Dollar Rarity With a Dramatically Blundered Date, Ex: Garrett

1846 $1 PR64 PCGS. Like most proof Silver Dollars from the 1840s, the 1846 is an enigmatic issue. Writing in 1993, Bowers states that perhaps 30-40 examples are extant, a rather generous total for the era. Indeed, this estimate seems optimistic, as NGC and PCGS combined have certified only 20 coins as of January 2002. Most of the coins known were struck from an obverse die with a noticeably blundered date. The date was first impressed into the die too low, then corrected. Traces of all four underdigits are evident under a loupe, particularly the final two digits. Among those coins known with this obverse are:

1. Ex: Lorin G. Parmelee Sale (New York Coin & Stamp Co., 6/1890).

2. Ex: World's Greatest Collection--F.C.C. Boyd (sold in installments by Kosoff, 1945-1946).

3. Ex: October 1999 E-Fair Premier Sale (Heritage, 10/99), lot 5320, where it realized $24,000.

4. Ex: Morris Silverman Collection, the present example.

The Mint used a second obverse die for this delivery (with a plain date), but there is only one reverse die known, that which is common to all original proofs of the 1840-1850 era.
This richly toned example displays a virtually complete endowment of dove-gray toning. Hints of near-brilliance are evident on the reverse as undertones, a splash of golden-tan color overlays the eagle's left (facing) leg. There is a thin, arcing, staccato-like contact mark in the right obverse field, and a smaller contact mark in the upper right reverse field parallels the back of the eagle's neck. These features are useful as pedigree markers, and they are also the only blemishes that seem to bar this otherwise smooth example from a full Gem grade.
Ex: John Work Garrett Collection (Stack's, 3/76), lot 262; 1998 Portland ANA Signature Sale--The Riverly Collection (Heritage, 8/98), lot 8193, where it realized $31,050. (NGC ID# 24ZW, PCGS# 6987)

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Auction Dates
April, 2002
Internet/Mail/Phone Bidders: 2
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