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Lot
6152

1851 S$1

1997 June Long Beach Sale #173

 
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Auction Ended On: Jun 6, 1997
Item Activity: 4 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Finest Certified 1851 Dollar
1851 MS 65 PCGS. In 1851, the silver dollar was in extreme disfavor. The melt value of the coins had risen to $1.034, almost double the premium of the previous year. To issue them was to lose them, so the Philadelphia mint struck over 3 million gold dollars instead. Just 1,300 silver dollars were struck from one pair of dies, and it's strongly suspected that these were not released in the issue year. Somewhere in the production run, the dies were polished and created some prooflike pieces that have been mistakenly described as "original" proofs. Bowers describes the 1851 as the rarest Philadelphia issue in the Seated Liberty series. This rarity was recognized early on, and as a result, many of the extant pieces are mint state, albeit lower grades. This piece is a lovely gem, its full luster and light reflectivity peeking gracefully through original multicolored toning in russet, gold, and magenta with accents of light orange, cerise, and aquamarine. It exhibits the diagnostic die clash from the elbow that defines the pre-polishing strikes, but is late enough to show the delicate die cracks described on the ANS piece. PCGS and NGC combined have graded just fourteen mint state pieces of this date (4/97), and as the sole MS 65, this coin has strong claims to finest known status. A compelling piece for the specialist and sure to inspire frenzied bidding among those who seek to own a legitimately rare piece of history. (NGC ID# 24YP, PCGS# 6939)

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