1795 $1 Silver Plug MS (PCGS# 6854)

Pre-Long Beach

  • Auctioneer:
    Goldberg Auctioneers
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Lot Description
2 leaves reverse. Beautifully toned in lilac-gray, with plenty of untoned areas that reveal the underlying mint luster. Even more important, the silver plug is readily visible on both sides, mostly because the plug has toned to a darker color than the surrounding metal. Magnification reveals a tiny seam around most of the plug on the obverse. However, on the reverse, the seam has been pretty well obliterated by the strike. Apart from being a nice type coin, we point out that this is the finest example of this variety yet graded by NGC.<BR><BR>The purpose of the plug has not yet been determined. Sadly, no mention was ever made in the Mint records. Some experts believe the plug was used to raise the purity of the silver; others believe it was used to raise the weight of the coin. Whatever the purpose, silver plugs have been the object of intense demand and scrutiny. Surprisingly, "plugged dollars" have been with us since 1794, yet they seem to have gone unnoticed until recent years and new discoveries are being made every year. Even so, as far as plugs go, this is the most obvious one we've encountered. <BR>Estimated Value $30,000 - 40,000.
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