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Lot
966

1860-O $1 MS66 NGC....

2007 November Dallas, TX US Coin Signature Auction #452

 
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Auction Ended On: Nov 6, 2007
Item Activity: 6 Internet/mail/phone bidders
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Description:
Spectacular MS66 1860-O Dollar
One of the Finest Known of This Popular Issue
1860-O $1 MS66 NGC. 1860-O $1 MS66 NGC. Ex: Foxfire. Numismatic researchers agree that several thousand Mint State examples of the 1860-O Seated dollar were released during the 1962-64 U.S. Treasury releases of silver dollars; the disagreement is over the number released, which ranges from 1,000 on the low side to 6,000 on the high side. Bowers-Borckardt says of these pieces, "Nearly all of these coins were heavily bagmarked and today fall in the MS-60 or slightly finer category." A gander at the NGC and PCGS population data confirms that as of this writing (10/07), a total of 880 examples have been certified from MS60 to MS63. The grade breakdown is (all figures for NGC and PCGS combined): MS60, 213 coins; MS61, 287 coins; MS62, 285 coins; and MS63, 95 coins. The number of MS64 pieces, however, is only 38, with 18 MS65 examples. There are only four MS66 pieces, all at NGC. This piece is among the four finest known at either service. Notice, then, how many coins are clustered in the MS60 to MS63 grade echelons, and it becomes obvious that a lower estimate of 1,000 Mint State coins is more nearly correct than higher estimates (it seems unlikely that more than a couple of hundred Mint State coins remain uncertified).
The Bowers-Borckardt silver dollar Encyclopedia quotes Bruce Amspacher, who wrote, "The average BU 1860-O dollar earned the nickname of 'Quaker Oats dollar,' because it looks like it was shot from guns." Clearly, this remarkable specimen is not from those humdrum Treasury coins. Indeed, it has the look of a coin that has been faithfully and carefully preserved for many years in a single cabinet. The surfaces have a light, even, consistent amber-gold patina on both sides, accented by aqua-blue rims on the obverse. Brilliant luster emanates from beneath fields that are fairly prooflike. A cluster of small, grade-consistent abrasions is noted in the left obverse field along Liberty's left (facing) arm. The strike is bold, although a few of the right-side stars lack full central details. A lovely and unimprovable coin.(Registry values: N10218) (NGC ID# 24Z3, PCGS# 6950)

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