1795 $1 BB-11, Silver Plug MS(PCGS#39990)

The Regency Auction 32

拍卖行

Legend Rare Coin Auctions

批号

1

等级

AU55

价格

889,129

详细说明

FROM THE PUG COLLECTION. Ex Hesselgesser, as noted on the holder. Not only is this is one of the most impressively provenanced early dollars that we have had the pleasure of auctioning, it is also very high end and beautifully eye appealing. We believe it may be the finest BB-11. Sharply struck from an early die state of the first Flowing Hair die pair employed. As such, it is arguably one of the first dollars struck in 1795. Satiny and vibrant mint luster clings to the surfaces, which are toned with a majestic blue, russet, gold, and violet. The toning around the central silver plug are especially spectacular. A forceful blow from the dies have imparted a very crisp strike. The details are sharply struck up, and were it not for some light friction on the highest points, the details would be totally complete. Some minor traces of contact were obtained during this coin's very brief stay in early federal commerce. The coinage act of April 1792 that established the U.S. mint, also created the standards for the content of each authorized denomination. By late 1792, several patterns and 1,500 half dismes had been produced, but mint officials had to post surety bonds in order to strike gold and silver coins, so the only coins struck in 1793 were half cents and cents. In 1794 silver coins began to be struck, most of which were half dollars and a small number of silver dollars. The standards required that precious metal coins be within a very narrow weight tolerance, overweight planchets were filed down to proper weight; underweight planchets were sometimes treated with a silver plug, where a small hole was drilled into the blank planchet and a plug of silver was inserted, then flattened when the coin was struck. When this coin was cataloged as part of the Philip Flannagan Collection in November 2001, the cataloger noted that there were some light adjustment marks at the lower reverse rim, which suggests that the coiners were trying hard to get the weight "just right." Since this coin was struck using the earliest state of the first die marriage of the year, it is suggested that this may have been the first 1795 silver plug dollar struck. This coin's provenance is known going back to June 1885, when T. Harrison Garrett bought this coin from Lyman Low's 8th Sale, lot 59. It remained in the Garrett Collection at Johns Hopkins University until it was consigned to Stack's March 1976 sale of the Garrett Collection, lot 245. From there, it resided in private collections, next appearing in the Bowers & Merena November 2001 sale of the Philip Flannagan Collection, lot 4204. It was purchased by the Cardinal Collection; sold in ANR's June 2005 sale of the Cardinal Collection, lot 6; intermediaries to Dr. Hesselgesser in February 2008. Hesselgesser Collection, Goldberg's September 2011, lot 5000. Most recently sold in May 2012 Goldberg, for $103,500. PCGS 4, NGC 0, CAC 1. As noted this is the most recently sold example, which realized $103,500 seven years ago. The current Collector's Universe value is listed at $120,000. This is one of the most historically important 1795 dollars struck. Add to that the amazing eye appeal and technical qualities, and you get a stunning type coin or Flowing Hair dollar for a major variety set. We anticipate very strong bidding for this GEM AU coin when it crosses the block. Cert. Number 37919034 PCGS # 6854