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Lot
3728

1851 $1 Original MS62 PCGS. High Date. This single feature quickly and easily distinguishes the Originals from the Restrik...

2005 September Long Beach Signature Auction #384

 
Sold for: Not Sold
Auction Ended On: Sep 23, 2005
Item Activity: 5 Internet/mail/phone bidders
180 page views
Location: Long Beach, CA
Description:
Mint State 1851 Original High Date Dollar
1851 $1 Original MS62 PCGS. High Date. This single feature quickly and easily distinguishes the Originals from the Restrikes. All Original issues, apparently always in business strike format, have the date set high in the field, close to the rock below Liberty. The mintage of these was extremely low, at just 1,300 coins, and nearly all that survive are in higher circulated grades or are Mint State, suggesting that those which did survive never saw more than a brief time in circulation. The low mintage resulted from increasing market pricing of silver bullion, which rose when the flood of gold from California camps began to reach financial markets. As the metal or bullion value of a silver dollar increased to $1.03 or more, gold dollars quickly took their place. In 1851 alone, over three million gold dollars were struck and immediately placed in circulation.
This 1851 Original Seated Liberty Silver Dollar is nicely details even though not fully struck. Liberty's hair details on the obverse and the tops of the wings on the reverse show slight weakness. Light clash marks are present in the right obverse field, and a small scratch is located in that area as well. The surfaces are primarily brilliant and fully lustrous with reflective fields and light gold toning on the obverse. The reverse is similarly brilliant with even light gold color. Fine vertical die lines are visible in the fields on both sides, left over from die finishing. The right side of the horizontal shield lines are crossed by a diagonal line that begins above the top of the shield, and extends down to the junction of the bottom horizontal line and the border, continuing a short distance into the feathers right of the shield. Today, it is difficult to estimate exactly how may 1851 Original dollars survive, although we tend to agree with certain past estimates that about 50 of these exist.(#6939) (Registry values: N7079) (NGC ID# 24YP, PCGS# 6939)

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