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Auction 300 | Lot 7732 » Silver and Related Dollars » Early Dollars

1794 $1 VF25 PCGS. B-1, BB-1, R.4. One can probably count on the fingers on one hand the number of public auction sales in the last hundred years that offered more than one specimen of the 1794 Dollar in the same sale (our 1993 ANA Sale was one of them). Over the past five years or so, demand has exceeded supply for the rare and desirable 1794 Dollar.

In 1950, Milferd H. Bolender noted the following in his The United States Early Silver Dollars from 1794 to 1803: "Only one pair of dies was used in striking the silver dollars in 1794. Only 1,758 pieces were coined. Usually found with the impression weak on lower part of date and the stars on left, and sometimes the border milling on left does not show up. The corresponding portion of reverse, especially the word STATES, will therefore also appear weak." These striking characteristics seem to fit this specimen, with maybe a slightly better than average strike on the stars and date noted.

With the help of Jack Collins' unpublished manuscript on 1794 Dollars, it was possible to trace this specimen to Paramount's 1974 ANA Sale, lot 2. According to Jack, the coin was "bought in" at $8,500 in that sale. It was offered again by Paramount the following year as part of their Davies-Niewoehner Collection, lot 332. The piece sold in that auction and realized $9,250. It was later offered in our 1993 ANA Auction, lot 5365, where it brought $15,400.

Jack Collins noted the following regarding this specimen: "Weak at the lower left stars, upper reverse legends. Small pit or nick nearly midway between the juncture of the throat, chin, and the twelfth star; nick on the crosslet of the 4, pit above the space between 17. Reverse with a diagonal scratch from near the point of the uppermost right leaf toward the border between S O, another slants up from the border below the right ribbon, almost touching the point of the right stem; a third slants between D S."

The surfaces are light gray overall with somewhat deeper p (PCGS# 6851)

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Grade VF25

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Sep 28, 2002

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Sold For: $60,375.00

Auction 300 | Lot 7733 » Silver and Related Dollars » Early Dollars

1794 $1 VF30 PCGS. B-1, BB-1, R.4. The 1794 is one of the most elusive of all Silver Dollars ever struck. The first statute of the April 2, 1792 Mint Act authorized coinage of Silver Dollars to compete with the popular Spanish and Mexican Dollars or "pieces of eight." Designed by Mint Engraver Robert Scot, the United States' first Dollar was struck from a single pair of dies. Only 1,758 pieces were deemed satisfactory, with a few hundred more thought to have been rejected and perhaps later used as planchets. The most reliable estimate of the number of survivors is somewhere around 130 pieces, that figure suggested by the late Jack Collins, a tireless researcher of this issue.

Apparently after the 1794 copper trial striking was produced and the first several Dollars came off the presses, the dies went out of alignment causing the left obverse stars to appear weakly struck, a characteristic seen on virtually every known example. On this particular coin, the date and first three stars are strongly impressed. However, stars 4-7 are weakly defined as is the corresponding area on the reverse in UN(ITED ST)ATES. The surfaces are oyster gray with an accent of deeper russet-brown patina around the obverse periphery, and on the reverse that same colored toning surrounds and is within the recesses of the devices. For identification purposes, we note the following: a small planchet depression between the L in LIBERTY and Liberty's hair, two adjustment marks through the O in OF, and a comma-like planchet flaw below the end of the right stem on the lower reverse.

Jack Collins noted (in his unpublished manuscript on 1794 Dollars) that this specimen was repaired at one time, and went so far as to include photos of this coin both "Before and After" the repair. He described the repair as follows: "...a large "V" shaped lamination defect flaked off of the planchet from the border between the 4 and the last star, extending upward to the end of the bust and throat. This was skillfully repair (PCGS# 6851)

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Grade VF30

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Sep 28, 2002

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Sold For: $92,000.00

Auction 300 | Lot 7740 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Three Leaves VG8 ANACS. B-5, BB-27, R.1. Evenly worn over the design elements, each side shows deep, almost charcoal-gray toning.
From the Joseph Sadowski Collection of Early Dollars. (PCGS# 6852)

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Grade VG8

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Sep 28, 2002

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Sold For: $1,150.00

Auction 300 | Lot 7741 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Three Leaves AU55 PCGS. B-5, BB-27, R.1. This variety is immediately identifiable by the "bar" between the first curl and the inner point of the star 5. Although relatively common in lower grades, a specimen in AU55 is offered only infrequently. The devices are well defined on each side and there is just a bit of light friction evident over the eagle's breast. Deeply toned throughout in shades of deep gray, rose, and blue with no obvious abrasions on either side.
From the Albany Collection. (PCGS# 6852)

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Grade AU55

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Sep 28, 2002

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Sold For: $10,925.00

Auction 300 | Lot 7742 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Three Leaves AU50 NGC. B-6, BB-25, R.3. Die State II. The obverse die used to strike this scarce variety was used previously to produce the rare 1795 B-13, BB-24 die marriage. The obverse die was relapped before striking this specimen, as one can tell by observing the lower curl in Liberty's hair, now shortened. There are three leaves under each wing on the reverse, and 13 berries, arranged seven on the left branch and six on the right.

The obverse of this coin is medium gray with somewhat mottled toning, and traces of luster that is consistent with the grade. The reverse is mostly a lighter gray, with adjustment marks noted on the upper reverse peripheries, especially through STATES.
From the Albany Collection. (PCGS# 6852)

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Grade AU50

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Sep 28, 2002

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Sold For: $7,245.00

Auction 300 | Lot 7743 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Three Leaves XF45 NGC. B-7, BB-18, R.3. Die State I. This is the only reverse die with 14 berries, seven berries on each branch. There are also a couple of die flaws at the end of the left ribbon. A bit softly struck in the centers (and lightly worn there also), the underlying silver-gray surfaces are evident beneath the variegated rose-gray toning with olive-tan accents over the highpoints.
From the Albany Collection. (PCGS# 6852)

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Grade XF45

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Sep 28, 2002

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Sold For: $6,037.50

Auction 300 | Lot 7747 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Three Leaves--Graffiti--ANACS. VF Details, Net Fine12. B-12, BB-26, R.6. This is a very rare variety and is seldom offered for sale. The obverse die was only used to strike this single die pairing. On the obverse, Liberty's lower curl passes through a point of star 1. It is important to note that in the Bowers Silver Dollar book (published in 1993), four specimens grading VF20 and one Fine15 were included in the "Notable Specimens." Deep gray and blue toning covers each side with lighter tannish accents over the highpoints of the design. Scattered scratches in the right obverse field (or "graffiti") is actually well concealed by the depth of toning present.
From the Albany Collection. (PCGS# 6852)

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Grade F12

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Sep 28, 2002

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Sold For: $2,300.00

Auction 300 | Lot 7734 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves XF45 ICG. B-1, BB-21, R.2. Die State I. This is the second most common variety for 1795 and is easily attributed by the 7 in the date being punched over an erroneous 1. This obverse die was also used to strike the extremely rare 1795 B-10, BB-22 (note a specimen of 1795 B-10 is offered later in this sale) and the Rarity-8 1795 B-16, BB-16. Original gray toning covers both sides with some lighter accents over the highpoints of the design. Only moderate wear is seen over the design elements. The surfaces are relatively abrasion-free except for several crisscrossing adjustment marks in the center of the reverse.
From the Albany Collection. (PCGS# 6853)

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Grade XF45

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Sep 28, 2002

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Sold For: $5,405.00

Auction 300 | Lot 7736 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves--Cleaned--ANACS. VF Details, Net Fine12. B-1, BB-21, R.2. A bright and well-worn example of this popular variety. The surfaces are almost brilliant and a scratch extends from the bottom of Liberty's bust into the field down to the 5 in the date.
From the Joseph Sadowski Collection of Early Dollars. (PCGS# 6853)

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Grade F12

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Sep 28, 2002

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Sold For: $1,725.00

Auction 300 | Lot 7737 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves XF45 ICG. B-2, BB-20, R.3. The obverse of this die shows Liberty's hair with six prominent curls. Star 1 pierces the lowest curl in Liberty's hair. This obverse die was used also to strike the unique 1795 B-19, BB-19 Dollar. The reverse has two leaves under the eagle's wings and was used to strike two other 1795 varieties. This variety becomes a little more difficult to locate in higher grades, and appears much less frequently than the relatively common 1795 B-1, BB-21 (with two leaves reverse). It is interesting to note that two specimens of 1795 B-2, BB-20 were part of the famous Lord St. Oswald Collection sale in 1964. Softly struck in the centers but well defined at the margins, the surfaces are nearly brilliant and there are faint portions of mint luster remaining around the devices. The most obvious flaws are from the bottom of the Y in LIBERTY to the field below star 9, a small mark next to star 4, and a faint horizontal grease stain below the eagle's left (facing) wing.
From the Albany Collection. (PCGS# 6853)

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Grade XF45

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Sep 28, 2002

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Sold For: $5,405.00

Auction 300 | Lot 7738 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves--Obverse Fields Tooled--ANACS. Unc Details, Net XF45. B-3, BB-11, R.5. This rare die pairing was very likely the first variety struck with the new 1795 Flowing Hair design. There are two leaves under each wing, and this is the only reverse die with 16 berries (eight on the left branch and eight on the right). The B-3 is much rarer than originally thought by Bolender and is considered by most specialists to be a Rarity-5 coin today.

This coin is well-known among early Dollar collectors as the "SEP" coin. At one time (presumably prior to 1977), the initials SEP were scratched in the obverse fields. The initials have since been expertly tooled away and today the obverse fields show just the slightest disturbance. Other than those areas, the coin shows full mint luster over each side. The reverse is simply amazing for its originality, strike, and complete mint luster. The obverse also shows intricate detailing on Liberty's hair, definition that makes one realize just how quickly the forefront of Liberty's hair wore away from the slightest handling. Only slightly abraded on each side with a few tiny marks on Liberty's portrait, a few more are well concealed on the eagle's feathers. The most noticeable and easily used features on this coin for pedigree purposes, though, are three tiny planchet flaws: two are next to stars 1 and 2 on the obverse, and another is between the ME in AMERICA on the reverse. Lovely light gray and pale golden iridescent color is also seen on each side. A few light adjustment marks can be found on the reverse and are mostly confined to the periphery. This coin has superb visual appeal which very few Flowing Hair Dollars today can match. This piece was listed three separate times on the Bowers Condition Census. It stands as the unequivocal finest known Bolender-3 and represents a rare opportunity for the specialist.
Ex: Davis-Graves Sale (Stack's, 4/54), lot 1268; Lester Merkin Sale (9/68), lot 226; Doolittle and Russell (PCGS# 6853)

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Grade XF45

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Sep 28, 2002

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Sold For: $9,775.00

Auction 300 | Lot 7739 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves XF45 NGC. B-4, BB-14, R.3. Here is another example of the Flowing Hair, "Two Leaves" variety. This die marriage is easily attributed as the last star is completely under the bust of Liberty. Bowers considered this variety to be somewhat elusive at the XF level, an opinion that still rings true today. The 1794 B-4, BB-14 Dollar is known with a silver plug center, and one specimen is known today that was clearly struck over a 1794 Dollar. Variegated charcoal-gray and golden-lilac patina covers each side with brilliantish-tan accents over the highpoints of the design elements. The rims are high, as usually seen on this variety, and the surfaces lack the often-seen black streaks of carbon common to many B-4 Dollars. A bit softly struck, there are no singularly mentionable contact marks that can be used as pedigree identifiers.
From the Albany Collection. (PCGS# 6853)

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Grade XF45

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Sep 28, 2002

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Sold For: $5,750.00

Auction 300 | Lot 7745 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves XF45 ICG. B-9, BB-13, R.4. This variety is considered very scarce by most specialists today. The reverse die has 17 berries in the wreath (nine on the left branch, eight on the right) and was used to strike two die marriages. This specimen has remarkably clean surfaces for the grade with murky gray toning over each side and strong olive and rose undertones. A bit weakly defined in the centers.
From the Albany Collection. (PCGS# 6853)

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Grade XF45

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Sep 28, 2002

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Sold For: $5,060.00

Auction 300 | Lot 7746 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Two Leaves VF35 PCGS. B-10, BB-22, R.7. Die State I. This specimen was last sold in our April 2002 CSNS Signature Sale as lot 7167, where it realized $13,800, and was described as, "This Rarity-7 die marriage was the subject of a detailed article titled "The 1795 B-10 Silver Dollar - Much Rarer than Thought?" in the John Reich Journal (Volume 13 / Issue 1, July 2000, pages 12-21). Over the years, the 1795 B-10 Dollar has been called R-6, R-7, R-8 and even R-5 in various reference books, as well as by catalogers and specialists. The author concluded that in over 10 years of research "I have only been able to trace 8 different specimens of the 1795 B-10 die marriage offered in the last 120 years!"

M. H. Bolender originally called this die marriage Rarity-6 (13-30 specimens known) in the original 1950 publication of his book The United States Early Silver Dollars 1794 to 1803. (Yet Bolender was most likely aware of only 2 or 3 specimens - Bolender's own, the Haseltine Specimen and possibly one other). [For information on membership in the John Reich Collector's Society or acquiring back issues of the John Reich Journal, please contact Bradley S. Karoleff, Editor, JRCS, P.O. Box 135, Harrison, Ohio 45030-0135; or visit the JRCS website at www.jrcs.org]

The finest known specimen of this die variety known has to be the F.C.C. Boyd specimen from the World's Greatest Collection sale, January 1945. It was graded Uncirculated in that sale. The next finest specimen known grades XF40, followed by a number of specimens in the VF range. One of the known specimens is counterstamped, with the date '1793' on the obverse. It was "cherry picked" in an E-Bay auction by an astute Northern California early Dollar specialist in early 2000.

The coin offered here is one of three new specimens of 1795 B-10 discovered since the publication of the above article, bringing the total known to this cataloger to 11, wi (PCGS# 6853)

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Grade VF35

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Sep 28, 2002

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Sold For: $8,912.50

Auction 300 | Lot 7735 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Silver Plug VG10 PCGS. B-1, BB-21. An arc on the left side of the silver plug is evident in the center of the obverse. Evenly worn, the features are still well outlined with Liberty's eye, nose, and mouth fully defined, and several feathers are evident on each of the eagle's wings. Light gray-tan, rose, and lilac patina covers each side of this original coin. As recently as ten years ago, Silver Plug 1795 Dollars were not well known and little premium was attached to them. That situation has changed dramatically in recent years, though. The AU50 coin we offered in our recent Silverman Sale brought an astonishing $34,500. This piece offers the serious collector a more affordable opportunity to acquire this unusual striking variant from the early days of the U.S. Mint.
From the Joseph Sadowski Collection of Early Dollars. (PCGS# 6854)

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Grade VG10

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Sep 28, 2002

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Sold For: $6,612.50

Auction 300 | Lot 7744 » Silver and Related Dollars » Early Dollars

1795 $1 Flowing Hair, Silver Plug--Graffiti--ANACS. VF Details, Net Fine12. B-7, BB-18, R.3. The B-7, BB-18 die marriage is a Rarity-3, but is significantly rarer with a silver plug center. Silver plug centers were not widely known until the early 1990s, despite having been struck almost 200 years earlier. In 1994, the 1795 "Silver Plug" Dollar was added to A Guidebook of United States Coins. Today, Dollars with silver plug centers enjoy widespread demand, and prices have steadily climbed over the last few years.

The following was noted when we cataloged the Morris Silverman Specimen of 1795 B-7, BB-18 earlier this year: "The record price for any 1795 B-7, BB-18 Dollar with both a silver plug center and adjustment marks has to go to the Choice About Uncirculated specimen sold in the recent Hain Family Collection Part II, Stack's, January 15, 16, 17, 2002:1500. It realized a record-shattering price of $161,000!" The Silverman Specimen that graded AU50 PCGS realized a strong $34,500. Golden-rose and gray toning covers each side and greatly helps to subdue the scratching in the left and right obverse fields that may be initials or may just be random pinscratching. The silver plug is visible as an arc that extends from Liberty's jawline down onto the neck.
From the Albany Collection. (PCGS# 6854)

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Grade F12

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Sep 28, 2002

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Sold For: $3,162.50

Auction 300 | Lot 7749 » Silver and Related Dollars » Early Dollars

1795 $1 Draped Bust--Cleaned--ANACS. Fine Details, Net VG8. B-15, BB-52, R.2. Bright overall from cleaning with deeper accents of color around the devices.
From the Joseph Sadowski Collection of Early Dollars. (PCGS# 6858)

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Grade VG8

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Sep 28, 2002

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Sold For: $1,052.25

Auction 300 | Lot 7750 » Silver and Related Dollars » Early Dollars

1795 $1 Draped Bust VF25 PCGS. B-15, BB-52, R.2. Even, dark gray toning with lighter golden accents around the devices, the only noticeable defect is a scratch in the upper right obverse field. (PCGS# 6858)

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Grade VF25

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Sep 28, 2002

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Sold For: $2,645.00

Auction 300 | Lot 7751 » Silver and Related Dollars » Early Dollars

1795 $1 Draped Bust AU55 ICG. B-15, BB-52, R.2. The Draped Bust was well centered on this obverse die. There is a die crack in Liberty's hair as seen on most examples of this die marriage. Strongly defined throughout, the surfaces are bright and overlaid with rich layers of gray, rose, and lilac toning, and the reverse is several shades deeper in hue. An outstanding Draped Bust 1795 Dollar.
From the Albany Collection. (PCGS# 6858)

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Grade AU55

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Sep 28, 2002

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Sold For: $8,050.00

Auction 300 | Lot 7748 » Silver and Related Dollars » Early Dollars

1795 $1 Draped Bust, Off Center AU50 NGC. B-14, BB-51, R.2. The bust on this variety is off-center, having been placed too far to the left in the die. This variety can be easily identified as the highest wave of the hair is under the B in LIBERTY, and part of Liberty's curls touch star 1. The reverse die has a small eagle and small letters, and was used to strike six different die marriages--one dated 1795, three dated 1796, and one each from 1797 and 1798. This high-grade specimen is well defined with a few light adjustment marks at the top of the obverse and a distinctive planchet lamination angling across the center of the reverse. Gray-golden toning covers each side with strong underlying rose and lilac hues and even deeper russet coloration surrounding the devices.
From the Albany Collection. (PCGS# 96858)

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Grade AU50

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Sep 28, 2002

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Sold For: $5,750.00

Auction 300 | Lot 7755 » Silver and Related Dollars » Early Dollars

1796 $1 Small Date, Large Letters AU53 NGC. B-4, BB-61, R.3. This variety and the 1796 B-6, BB- 64 are listed in the Guide Book of United States Coins (The Red Book) as "1796 Small Date, Large Letters." There are only three examples known (to this cataloger) of the Rarity-8 1796 B-6, BB-64 die marriage, so a B-4 is the more affordable choice for most collectors who want an example for type purposes. (If not, there is a 1796 B-6, BB-64 offered a couple of lots below!) This is a lovely coin that has bright silver-gray surfaces with generous portions of luster remaining. Light golden toning is gently overlaid on each side with a few darker specks of russet on the reverse. Sharply struck, the most mentionable abrasions are a scrape in the right obverse field out from Liberty's mouth, and a nearly vertical scratch down Liberty's neck and bust.
From the Albany Collection. (PCGS# 6860)

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Grade AU53

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Sep 28, 2002

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Sold For: $7,475.00

Auction 300 | Lot 7756 » Silver and Related Dollars » Early Dollars

1796 $1 Small Date, Large Letters VF35 ANACS. B-4, BB-61, R.3. Most easily attributed by the die dot over the 1 in the date and the location of a berry under the first T in STATES on the reverse. A few minor abrasions are scattered over each side of this deeply toned coin that shows moderate wear on the obverse but less definition on the reverse. (PCGS# 6860)

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Service ANACS

Grade VF35

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Sep 28, 2002

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Sold For: $2,185.00

Auction 300 | Lot 7757 » Silver and Related Dollars » Early Dollars

1796 $1 Small Date, Large Letters--Bent, Cleaned--ANACS. VF Details, Net Fine12. B-4, BB-61, R.3. Decent details for the grade, the surfaces are mostly bright from cleaning but show an occasional outline of deeper color around the devices.
From the Joseph Sadowski Collection of Early Dollars. (PCGS# 6860)

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Service ANACS

Grade F12

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Sep 28, 2002

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Sold For: $1,322.50

Auction 300 | Lot 7758 » Silver and Related Dollars » Early Dollars

1796 $1 Small Date, Large Letters VF25 NGC. B-4, BB-61, R.3. The central devices are noticeably worn but the piece is basically defect-free with only the small abrasions present one would expect from a coin in this grade. Bright golden toning covers each side with cobalt-blue color around the peripheries. (PCGS# 6860)

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Service NGC

Grade VF25

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Sep 28, 2002

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Sold For: $2,300.00

Auction 300 | Lot 7763 » Silver and Related Dollars » Early Dollars

1796 $1 Small Date, Large Letters--Plugged, Tooled, Whizzed--ANACS. Fine Details, Net VG8. B-6, BB-64, R.8 This is one of only three known specimens of this die variety. It is easily identifiable by the large vertical die break on the right third of the reverse.

This variety was unknown at the time Milferd H. Bolender first published his The United States Early Silver Dollars from 1794 to 1803 (1950). In an article in the John Reich Journal, Volume 11 / Issue 2, January, 1998 titled "Early Silver Dollar Die Marriages Discovered Since the 1881 Haseltine Type Table - A Detailed Analysis" this cataloger wrote the following:

"It is unknown when this die marriage was discovered. Most likely it was in the 1950s, after the publication of Bolender's book. Two specimens are known to me, both of which can be traced to the middle to late 1950s.

Early Dollar specialist K. P. Austin acquired a specimen privately in June 1957 from Walter Breen. Most likely it was Breen who discovered this new variety. (But for some reason, Breen did not publish the discovery as he had done in 1953 for the new 1795 B-18 variety). Alfred. J. Ostheimer, an early Dollar specialist with an extensive variety collection, acquired this specimen from Mr. Austin. It was later resold as lot 823 (plated) in Superior's 1975 ANA Auction Sale. That coin now resides in the Jules Reiver collection. (Note also that this specimen is the plate coin in the Bowers' Silver Dollar book).

A second example of the B-6 was in the collection of Emanuel Taylor, another early Dollar specialist. It is unknown when or where Taylor acquired this coin. The Taylor Collection was acquired by the Kagins in the late 1950s and was offered in a little known catalog titled AMERICA'S OUTSTANDING COLLECTION OF SILVER DOLLARS For Sale at Fixed Prices. The catalog was probably issued around 1959 but was not dated. Lot 19 (unfortunately not plated) was described as follows:

"1796 NEW MAJOR VAR (PCGS# 6860)

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Service ANACS

Grade VG8

Auction Ended

Sep 28, 2002

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Sold For: $9,775.00