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1849 $1 PR64 NGC....

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$48,875.00 Bid Source: Internet bidder
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Description

Choice Proof 1849 Seated Dollar
Unlisted Proof Reverse Die

1849 $1 PR64 NGC. Q. David Bowers in his 1993 Silver Dollar Encyclopedia lists only a single variety of proof 1849 Seated dollars "with imperfection on [the] 4 in [the] date" and the shared "reverse of 1840-1850." Duncan Lee, in his August 2006 supplement to the Coin Dealer Newsletter, agrees with Bowers, stating "all proofs are restrikes. The date shows a distinctive imperfection on the 4 in the date, and is combined with the common [restrike] reverse." See our discussion at 1840 for the current thoughts about original and restrike proof Seated dollars.
The present specimen matches the Bowers and Lee descriptions of the obverse die. The inner triangle of the 4 has minor die fill, and the 4 has two different levels of relief. The relief is comparatively low from its base to the intersection of the crosslet and upright. The relief is higher on the upper portion of the upright, and on the diagonal.
But the reverse die differs. It is not the 1840-1850 shared reverse, which shows die lumps on the final A in AMERICA. The present reverse has a perfect final A. The vertical die lines also differ from the restrike reverse in their penetration of the horizontal shield lines. Line 3 of stripe 1 extends through all but one of the horizontal shield lines. Line 2 of stripe 2 extends to horizontal line 4.
Whether original or restrike, all proofs are highly desirable. Bowers (1993) wrote "The proof Liberty Seated silver dollar of this date stands as the rarest of the 1840s, in my opinion. ... By any measure, the 1849 proof dollar is an extreme rarity today. Indeed, its rarity cannot be overestimated. In 40 years I have seen only three specimens." Referring to Bowers' assessment, Lee adds, "Certainly a strong argument can be made in support of that assertion as the population reports indicate that this issue is tied for third [for the entire proof Liberty Seated series]." Of course, resubmissions over the past 22 years have likely inflated third party population and census data.
The present needle-sharp specimen is unabraded and has light sea-green and golden-brown peripheral toning. For those inspired to research pedigrees of 1849 proofs, we note a tiny lintmark near the upper right corner of the final A in AMERICA.
Ex: Amon G. Carter, Jr. Collection (Stack's, 1/1984), lot 257.
From The Queller Family Collection of Silver Dollars.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 24ZZ, PCGS# 6990, Greysheet# 7262)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View all of [The Queller Family Collection of Silver Dollars ]

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Auction Info

2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104 (go to Auction Home page)
Auction Dates
April, 2008
16th-18th Wednesday-Friday
Bids + Registered Phone Bidders: 11
Lot Tracking Activity: N/A
Page Views: 1,642

Buyer's Premium per Lot:
15% of the successful bid per lot.

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Sold on Apr 17, 2008 for: $48,875.00
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