1795 $1 Draped Bust, Off Center MS64 PCGS....

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Spectacular 1795 Off Center Draped Bust Dollar
From the Cardinal Collection
B-14, BB-51, MS64

1795 $1 Draped Bust, Off Center MS64 PCGS. B-14, BB-51, R.2. The Draped Bust silver dollars of 1795 represent an attempt to improve the artistic quality of U.S. silver coinage. This goal was expressed by Mint Director Henry William DeSaussure upon taking office in June 1795. To accomplish this goal, respected portrait artist Gilbert Stuart was commissioned to prepare a new design for the nation's coinage. Stuart is remembered today for his portrayal of George Washington, used on the dollar bill. A suitable model for Liberty was found in Mrs. William Bingham, nee' Anne Willing, a prominent Philadelphia socialite. Stuart produced an attractive portrait of Liberty as a young woman, with her long tresses tied back by a ribbon, or fillet. Early auction catalogers referred to the design as the Fillet Bust. The eagle on the reverse was also modified slightly, becoming smaller and more delicate, and standing on billowing clouds instead of a rock.
After Stuart finished the drawings for the designs, the Mint secured the services of John Eckstein to translate the sketches into plaster models. Not much is known of Eckstein. He was an artist, and he resided in Providence, Rhode Island. Walter Breen regarded Eckstein as a hack, but his handling of this assignment shows skill and diligence. Records show Eckstein was paid $30 for "two models for dollars" on September 9, 1795. The models were probably for the Liberty bust and Small Eagle device punches.
Eckstein's models were used to engrave the punches for the Draped Bust obverse and the Small Eagle reverse dies. It is uncertain if Eckstein did the actual engraving himself, or if Mint Engraver Robert Scott took over the design process at this point. Whoever was responsible, the end result was a masterpiece for the early Mint. The Draped Bust design was artistically far superior to anything appearing on U.S. coinage earlier. This basic design was eventually used on all silver denominations in the federal coinage series, and slightly modified, on the copper large cent and half cent coinage. The Draped Bust obverse continued to be used on dollar coinage until the denomination ceased production in 1804.
Numismatists recognize two varieties of 1795 Draped Bust silver dollars today. The present coin is an example of the B-14, BB-51 classification, characterized by the off-center placement of Liberty's bust on the obverse. The bust is placed too far to the left, so that star 1 actually touches the curl. The other variety of 1795, (B-15, BB-52) shows the bust in a more central position on the obverse. Experts believe B-14, BB-51 was the first variety to be produced because the dies for all future years follow the central placement principle established by B-15, BB-52. The former variety is believed to be the more available of the two. It is interesting to note the B-14, BB-51 obverse die was never used again, in spite of the fact that no example seen of this coin shows serious die deterioration. The reverse die has a remarkable history, being used in combination with several different obverses to strike coins in every year until 1798.
The present coin is one of the most spectacular examples of this design available to collectors today. The surfaces are deep gray, with hints of violet, gold, and blue. Mint luster is unbroken, and readily shows the coveted cartwheel effect. All devices are fully brought up, with exquisite detail showing in all areas. Individual hair strands are strongly delineated, and one could actually count the feathers on the eagle's breast. Some minor adjustment marks are visible on the lower reverse border, and across the eagle's breast. The obverse surfaces are pristine, and the reverse shows only the most trivial handling marks. Overall, eye appeal is fantastic. This specimen ranks as one of the finest surviving examples of this scarce and sought-after date. Population: 1 in 64, 2 finer (11/08).
In addition to the coin's inherent beauty, the present coin has an exciting pedigree. The coin was part of the Cardinal Collection (American Numismatic Rarities, 6/2005), lot 15. The Cardinal Collection was the first collection to feature a Mint State example of each date and major type early dollar. This fantastic coin is now poised to become a focal point in another landmark collection of early dollars.
From The Estate of Jack Lee Collection.(Registry values: P3)

Coin Index Numbers: (PCGS# 96858, Greysheet# 7148)

Weight: 26.96 grams

Metal: 89.24% Silver, 10.76% Copper

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