1797 $1 9X7 Stars, Small Letters MS (PCGS# 6866)

Long Beach

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    Heritage Auctions
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Lot Description
1797 $1 9x7 Stars, Small Letters AU53 PCGS. B-2, BB-72. R-4. In our January FUN sale we offered an AU55 specimen of this variety. In cataloging this example, we stated, "Rarely does one get the opportunity to acquire a high grade specimen of the rare and desirable 1797 'Small Letters reverse' Dollar. In fact, this variety is unpriced in any grade higher than VF20 in the current Guide Book of United States Coins! This variety has 16 stars, with 9 stars on the left of Liberty and 7 stars to the right. The diagnostic die lines can be seen clearly under Liberty's chin in front of her neck on this Almost Uncirculated example of the obverse die. The reverse is the rare Small Eagle, Small Letters reverse of 1797. The reverse die used to strike this variety was first used to strike Dollars in 1795 and 1796. This is the fifth use of this 'workhorse' die, which will be used one more time, to strike the 1798 'Small Eagle, 13 Stars' Dollar." Condition Census: This coin likely falls into the Condition Census for the variety. The finest example known to us is still the Newman Specimen MS62, which is the plate coin illustrated in the Bowers Silver Dollar book. The second finest known is the beautiful AU55 Carter Specimen, which was lot 218 in the 1984 Stack's sale of the Amon Carter, Jr. collection. The Carter Specimen was last offered as lot 7182 in our 2002 FUN sale (although it was not identified in this sale as the Carter Specimen) and realized a strong $34,500. There was also a specimen graded AU55 in our 1998 Portland ANA Sale, August 5-7, 1998:8027. Another specimen was offered by a dealer / specialist at the August 1998 ANA Convention in Portland and was graded AU53 PCGS, with adjustment marks on the eagle's right wing. These are the top four specimens known to this cataloger, and as always, there could be others. But most likely, this specimen is one of the top five or six specimens known today. The coin displays medium gray toning over subdued luster, with a few darker s
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