1795 $1 Silver Plug MS (PCGS# 6854)

2013 August 8 - 10 US Coins Signature Auction - Rosemont #1188

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    5686
  • Grade:
    AU55
  • Price:
    $99,875.00
Lot Description
1795 $1 Flowing Hair, Two Leaves, Silver Plug AU55 NGC B-1, BB-21, R.2. The Silver Plug coinage of 1794 and especially of 1795 represent a failed Mint experiment. Overweight planchets were lightly filed to reduce the weight before the coins were struck, and many specimens over a wide range of years show the telltale adjustment marks of that process. Underweight planchets were simply returned to the melting pot. However, the Silver Plug experiment of 1795 was an attempt to increase the weight of those light planchets by punching a hole in the center and inserting a silver sliver of sufficient size to bring the planchet weight up to standard. When the combination was struck, the additional silver spread across the surface of the planchet and bonded with the surrounding metal. Some Silver Plug dollars show outlines of the plug on both sides, while others only show the outline on the obverse or the reverse. This leads to further questions regarding the Mint experiment. Clearly more research about these fascinating pieces is needed. This Choice AU specimen has a clear outline of the plug on the reverse. The surfaces retain considerable luster with light champagne and gold toning that is deeper near the borders. The surfaces show only minuscule marks on each side, and the strike is exceptional with excellent centering. This delightful piece will clearly please the advanced collector.
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