1795 $1 Silver Plug MS (PCGS# 6854)

Morris Silverman

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    4005
  • Grade:
    AU50
  • Price:
    $34,500.00
Lot Description
1795 $1 Flowing Hair, Silver Plug AU50 PCGS. B-7, BB-18. R.3. Die State I. As a die variety, this 1795 Dollar is somewhat scarce. However, this particular specimen is extremely rare as it comes with both a silver plug center and adjustment marks! 1795 Dollars with silver plug centers were not generally known until about 1993. Q. David Bowers included a section on these Dollars in his book Silver Dollars of the United States, A Complete Encyclopedia (published in 1993). Ken Bressett wrote an article titled "The Baffling Case of the Plugged Dollars" in the March 1993 issue of The Numismatist. And Paul Gilkes published a page 1 article titled "Silver Plugs Mint's Methodology to Correct 1795 Dollars' Weight" in Coin World, November 22, 1993. From relatively unknown to front-page news, almost overnight! In 1994, the 1795 "Silver Plug" Dollar was added to A Guidebook of United States Coins. The hunt was on, and a number of new specimens were identified over the next few years. In December 1995, Ray Merena identified a specimen of 1795 B-7, BB-18 that "curiously had both a silver plug center and adjustment marks". This was reported in the September 9, 1996 issue of the Bowers and Merena Coin Collector. This discovery specimen was offered for sale at public auction in the August 9, 1999 Bowers' Rarities Sale as lot 232. The same specimen was recently offered again, this time as lot 1144 in the Goldberg's Benson II sale. The record price for any 1795 B-7, BB-18 Dollar with both a silver plug center and adjustment marks has to go to the Choice About Uncirculated specimen sold in the recent Hain Family Collection, Part II, Stack's, January 15, 16, 17, 2002:1500. That coin realized a record-shattering price of $161,000! The silver plug is most noticeable in the approximate center of the reverse, above the eagle's right wing and to the right of the eagle's neck. Part of the outline of the plug can be observed in Liberty's neck. Adjustment marks can be seen on both the obverse an
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