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2577

1852 $1 MS62 PCGS....

2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124

 
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Auction Ended On: Apr 30, 2009
Item Activity: 5 Internet/mail/phone bidders
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Location:

Duke Energy Center
525 Elm Street
Cincinnati, OH 45202

Description:
Elusive Business Strike 1852 Seated Dollar, MS62
1852 $1 MS62 PCGS. Extremely high silver prices in the early 1850s contributed to the tiny mintages of the Seated Liberty silver dollars dated 1851 and 1852. It was only a year later, in 1853, that all silver coins (except the fiduciary three cent piece and the overweight silver dollar) saw a reduction in their silver contents to bring them back below their melt value. The business-strike mintages of the 1851 and 1852 silver dollars are recorded as 1,300 and 1,100 pieces, respectively, and as early as 1858, Bowers conjectures that the numismatic community recognized their rarity. Proof 1851 (and 1852) silver dollars are known in both original and restrike format. While the proof 1852 dollars are known struck from one obverse and three reverse dies, all business strikes known are from a single reverse. This is clearly an early strike from that die. Bowers comments in his Silver Dollar Encyclopedia:

"Walter H. Breen describes it: 'Earlier impressions show many nearly horizontal and fewer slanting die file marks within the reverse white stripes of shield; later strikings (after die repolish?) show none of these, only one minute spur from right edge of rightmost (sixth) pale gules or "red" stripe.' The typical original shows numerous vertical shield stripe elements extending above and into the horizontal stripes, and below and through the outside of the shield border; this is very distinctive."

Here the vertical lines clearly extend upwards at several areas into the horizontal shield lines, but the numerous die lines within the vertical stripes run in several directions: horizontal, and diagonally upward and downward. This piece displays muted luster underneath a light layer of brownish-gold patina. Numerous abrasions on Liberty's arms and in the fields account for the grade, but this piece remains an attractive Mint State example of an extremely elusive early Seated dollar issue. Population: 5 in 62, 6 finer (3/09).
From The Joseph C. Thomas Collection.(Registry values: N7079) (NGC ID# 24YR, PCGS# 6940)

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