1794 $1 MS (PCGS# 6851)

2005 November Dallas, TX Signature Auction Platinum Night #388

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    2184
  • Grade:
    AU55
  • Price:
    $431,250.00
Lot Description
1794 $1 AU55 NGC. B-1, BB-1, R-4. The McCoy Collection Specimen, Martin Logies Condition Census #10. A beautiful example of our first silver dollar coined at the Philadelphia Mint. The coin is toned a deep gunmetal gray and blue, with traces of luster in the protected areas. The strike is exceptional for a 1794 silver dollar, as the date, stars and even the dentils are clearly defined on the left side, an area which is notoriously weak on this issue. As nearly always found there are some adjustment marks, but they are much lighter than usual and located along the reverse rim, and these will serve to hallmark this particular coin. Examination of the surfaces will find little to fault this piece, as the rims, fields and devices have come down to us in excellent shape. Historically we note that W. Elliot Woodward catalogued this same coin in 1864 and stated in the McCoy sale "This specimen is unfortunately blemished by having the name 'Andrew Spence' pricked into the field of the coin, and some figures on the head, produced by the same process." These marks have since been removed very skillfully and no discernible evidence remains save for a few minor imperfections behind Liberty's head. Employing a 10X loupe fails to locate any evidence of this past transgression, or its undoing, and thus this particular coin has left behind the past and moved into the modern realm of third party grading, as well it should. Certainly one of the nicest 1794 silver dollars to survive, and a coin which any collector will long appreciate. Note the depth of Liberty's hair and her unblemished cheek and neck. The reverse is a delight with the strong wing details on the eagle, only the breast shows any wear on the high points. Well defined on the wreath and berries too, with just a hint of weakness at the tops of STA which was likely caused by the adjustment marks and the strike. Of the 1,758 coined, extensive research conducted by Jack Collins (1993) and later updated and published by Marti
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