1794 $1 B-1, BB-1, R.4 -- Tooled -- PCGS Genuine. VF Details....

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1794 Flowing Hair Dollar, VF Details
Key First Year of Denomination
B-1, BB-1, Always in Demand

1794 $1 B-1, BB-1, R.4 -- Tooled -- PCGS Genuine. VF Details. Bowers-Borckardt Die State IV. The Mint Act of 1792 required both Chief Coiner Henry Voigt and Assayer Albion Cox to post a bond of $10,000 before they could assume their duties with gold or silver coinage. Neither man could afford such a sum, which was a considerable fortune in the 1790s. As a result, only cents and half cents were struck for circulation in the first two years of the Mint's operations. Mint Director David Rittenhouse finally persuaded Congress to lower the bonds to a more reasonable level in 1794, and both men successfully posted their sureties, opening the way for large scale precious-metal coinage.

The silver dollar was the first denomination struck, as it was the largest, most prestigious silver coin authorized by the Mint Act, and both Rittenhouse and President George Washington considered it an important emblem of sovereignty for the new nation. Engraver Robert Scot prepared the dies for the dollar, with the obverse featuring a head of Liberty based on the design for the earlier Libertas Americana medal. Unfortunately, the largest coin press at the Mint was not adequate to strike coins larger than a half dollar. Approximately 2,000 specimens of the new dollar design were struck late in the year, but the dies were misaligned and the press did not have enough pressure to bring up all design detail in some areas. A a result, almost all 1794 dollars show some weakness in the date and stars on the left. Only 1,758 examples were considered fit to issue, and the remaining examples were melted for recoinage the following year.

The present coin shows evidence of a light cleaning long ago, and a large planchet lamination is evident on the reverse rim from 9 o'clock to 10:30. The obverse shows the usual softness on the lower part of the date and the stars on the left and planchet adjustment marks show on the lower reverse. Some evidence of tooling is apparent on the left obverse. That being said, this coin is a still-attractive representative of this rare and historic issue. The design elements retain some interior design detail and the surfaces are free of large or distracting abrasions. Collectors prize this date in all grades and conditions and we expect intense competition when this lot is called.
Ex: Stetson University Collection (Bowers and Merena, 5/1993), lot 424.

Coin Index Numbers: (NGC ID# 24WY, Variety PCGS# 39972, Base PCGS# 6851)

Weight: 26.96 grams

Metal: 89.24% Silver, 10.76% Copper

View Certification Details from PCGS