1794 S$1

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Sold on Jul 29, 1994 for:

$33,550.00 Bid Source: Live: Floor bidder

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Description

PCGS 1794 VF 35. This historically significant coin is among the twenty or so finest known examples of the date. It was bought by Dr. Charles Ruby as "one of the eight finest known," and remained in the doctor's collection for more almost twenty-five years. With a pedigree that stretches back more than a hundred years, the characteristics of this coin are well known, but we will repeat them here for future researchers who may not have access to older catalogs: Intermediate die state, the dies clashed but the rim break does not show yet at star 7. The left stars and UNITED STATES are weak, as usual, but the lower halves of all letters can be made out. Complete denticulation on the reverse. Adjustment marks are noted on the obverse (as seen on almost all of the 120+ specimens known). The adjustment marks on this coin are clustered together in three groups: a faint cluster from the 4 in the date to star 15, the most prominent group left of star 1 to the right of star 4, and the third batch from star 8 to the L in LIBERTY. On the reverse, there is a small planchet depression at the bottom of the right wing, and another, much smaller one at the top of the U in UNITED. A nearly vertical scratch is noted toward the top of the eagle's breast. There is also a tiny, sharp rim nick above the space between the A and M in AMERICA.
The coin has a steel-gray toning overall with some deeper blue and red undertones as well in the fields. The devices are slightly lighter on the more exposed areas. The weakness noted on the left sides of the obverse and reverse are commonly seen on 1794 dollars. It is a result of a mis-alignment of the dies that resulted from the coins being struck in a press that was too small for the dies. A similar situation occurred with the striking of 1799 cents. Only about five 1794 dollars are known without this weakness. This is a very pleasing 1794 dollar and one of the finest we have handled in years.
Ex: Thomas Cleneay (Chapman Bros., December 1890), lot 922; unknown intermediaries until C.H.R. Green; then B.J. Johnson in 1942; to Dr. Charles R. Ruby about 1949; Charles Ruby Collection (Superior Galleries, 2/74), lot 1446, where it realized $18,500; to Fred S. Werner bidding for Edwards H. Metcalf; then to 1975 ANA Sale (Superior, 8/75), lot 785, where it was "bought in" at $11,000; consigned to the Dr. Ronald Davenport Collection (Superior, 2/77), lot 463, where it was purchased for $9,750 by Joe Haines; integrated into 1981 Rare U.S. Coin Auction (Superior, 2/81), lot 641 for $29,500 to a "California Collector."

Coin Index Numbers: (PCGS# 6851, GSID# 7143)

Metal: 89.24% Silver, 10.76% Copper
Weight: 26.96 grams
ASW: 0.77352oz
Mintage: 1,758

View Certification Details from PCGS