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Lot
2095

1841 $1 MS65 NGC....

2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104

 
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Auction Ended On: Apr 17, 2008
Item Activity: 10 Internet/mail/phone bidders
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Description:
Gem 1841 Seated Dollar
Single Finest NGC-Certified
1841 $1 MS65 NGC. Gem Seated dollars are rare, regardless of date or mint. Only two dates in the series have productions of more than 1 million pieces, the 1871 and 1872, but most of the mintage was exported and eventually melted. Remarkably, Mint State bags of 1859-O and 1860-O Seated dollars emerged from Treasury vaults approximately a century after they were struck. But those pieces were generally heavily abraded.
Although any Gem Liberty Seated dollar is desirable, MS65 examples are particularly scarce for the first 14 years of the series, from 1840 through 1853. Within that date range, NGC has certified just five pieces as MS65, one each of the 1841, 1846, 1846-O, 1847, and 1851. Unlike most 20th century series, it is impossible to assemble an NGC set of Seated dollars above MS63, because that grade is the highest certified by that service for the 1852.
Like all early Seated dollars, the 1841 is very scarce in Mint State. However, the patient collector will eventually encountered examples in the MS61 to MS63 grades. NGC and PCGS combined have certified just seven pieces as MS64, and three pieces as MS65. Those figures may include resubmissions over the 20+ years of operation of NGC and PCGS.
It is understandable why there are so few high grade 1841 dollars. There were few if any devoted numismatists at the time. No collector organizations existed until shortly prior to the Civil War. Occasional silver dollars may have been set aside for bank reserves, or as a store of wealth. Even then, the pieces were indifferently stored, since there was no collector value or interest.
It is remarkable, then, that the present Gem has survived in such outstanding condition. The strike is intricate for its commercial origin, and the surfaces are uncommonly devoid of contact. Subtle satin luster shimmers across the light caramel-gold toning. Once the Queller Collection has been sold, it could be many years until another example of similar quality is available. Census: 1 in 65, 0 finer (2/08).
From The Queller Family Collection of Silver Dollars.(Registry values: N7079) (NGC ID# 24YB, PCGS# 6927)

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