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Lot
8284

1850 $1 PR62 PCGS. Open 5. Proof 1850 dollars were ...

2003 July Baltimore, MD. Signature Sale #328

 
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Auction Ended On: Jul 27, 2003
Item Activity: 2 Internet/mail/phone bidders
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Description:
Scarce 1850 Open 5 Seated Dollar, Proof 62 PCGS
1850 $1 PR62 PCGS. Open 5. Proof 1850 dollars were ostensibly struck with two distinct obverse die types; the first marriage combines a Closed 5 obverse with a new reverse die that was not used to produce any of the earlier proofs in this series. The Mint also used these dies to produce business strike 1850 Seated Dollars of the Closed 5 variety. The second marriage combines an obverse identifiable by an Open 5 in the date and repunching at the base of the 0 with the same reverse used to produce most proofs of the 1840-1850 era (two defects at the right side of the final A in AMERICA). Apparently, the Mint struck a limited number of proofs with this die combination before using the obverse to produce business strike 1850 Dollars of the Open 5 variety. During business strike production, the die cracked through the base of the date and was repolished. The die was re-mated with the same reverse die as before to produce more proofs, possibly at a later time. Breen suggests that some of the proofs of this die state may be restrikes, but evidence is not conclusive.
It is probable that no more than 25 proof 1850 Seated Dollars of all varieties and die states are extant. This issue is more available than most of the proof dates 1840-1849, perhaps because a decent number of restrikes were produced to satisfy collector demand for the low mintage 1850 date. The present example is undoubtedly an original of the Open 5 variety. There is no crack through the base of the date.
This specimen exhibits brightly reflective surfaces, a razor sharp strike, and hints of antique-gold and gunmetal-blue colors at the border areas. A number of small contact marks and hairlines have accumulated in the fragile mirrored fields, perhaps the most noticeable ones being concentrated on the right side of the obverse. A scarce and often elusive proof Seated dollar. (NGC ID# 2522, PCGS# 6991)

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