1897-O $1 MS66 PCGS....

Click the image to load the highest resolution version.

Sold on Jan 9, 2009 for:

$48,875.00 Bid Source: Internet bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

Legendary 1897-O Dollar, MS66
The Clapp/Eliasberg Specimen

1897-O $1 MS66 PCGS. As numismatists, we often wonder--even daydream--how certain rarities may have survived the years in such wonderful condition. Was the coin saved by a wealthy banker who also collected coins, or did a government employee buy a freshly minted example to commemorate a special event? Most coins hold their secrets well and, for most, that is the alluring aspect of our hobby. The present coin, however, is special in the fact its history is fully known--nearly from the moment it left the press.
We are pleased to present the Eliasberg 1897-O dollar. Purchased directly from the New Orleans Mint by Pennsylvania oilman and numismatist extraordinaire John M. Clapp in November 1897, and subsequently passed to his son, John H. Clapp, in 1906. The numismatic portion of the younger Clapp's estate was acquired by Louis E. Eliasberg in 1942, and the coin offered here remained in the his collection until April 1997, where it was sold as lot 2305 by Bowers and Merena. It was described, in part, as follows:

"A small indentation probably caused by a piece of debris adhering to the die near the upper right cluster of leaves suggests the split grade [of MS66/64]; otherwise this would be an unquestioned MS66 overall."

The flaw described by the cataloger of the Eliasberg sale is, more than likely, a miniature strike-through error. When examining--and grading--major rarities, most people tend to scrutinize the details with greater intensity and the numismatist's indispensable tool, the loupe, is pushed to its limits. In reality, the small indentation mentioned above is no larger than the tip of a ball-point pen and is well concealed by a beautiful patina. When compared to other MS66 O-mint dollars, the Eliasberg 1897-O stands out in terms of strike, luster, and overall eye appeal, which rivals the smattering of certified MS67 New Orleans dollars we have observed.
Silvery centers are delicately framed by pleasing sea-green and russet peripheral toning, especially so on the obverse. An unusually bold strike for the issue and rich, velvety luster adds to the eye appeal of this Premium Gem dollar. When we think of a 19th century coin that has never entered the channels of commerce, proof coinage comes to mind. The rare opportunity to own a specially preserved 1897-O dollar--obtained directly from the New Orleans Mint--is now before you.
Ex: New Orleans Mint to John M. Clapp (11/1897); John H. Clapp (1906); 1942 private treaty transaction, Stack's to Louis E. Eliasberg; Louis E. Eliasberg Collection (Bowers and Merena, 4/1997), lot 2305; unknown intermediary.
From The Arno Collection.
See: Video Lot Description(Registry values: P7, N10218)

Coin Index Numbers: (NGC ID# 2566, PCGS# 7248, Greysheet# 7629)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View all of [The Arno Collection ]

View Certification Details from PCGS