1799 $1 MS (PCGS# 6878)

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

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    Heritage Auctions
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Lot Description
1799 $1 7x6 Stars MS64 PCGS. B-6, BB-162, R.4. Bowers-Borckardt Die State III. Formerly in the celebrated cabinet of the eccentric Colonel E.H.R. Green, and then acquired by T. James Clarke, past president of the ANA prior to Green's death in 1936. This is a Condition Census coin for the variety, occupying the second position in Q. David Bowers' list of Notable Specimens. Well-defined in most areas, the surfaces are richly toned with smoky-gray and rose color over both sides (deeper on the reverse) and rich royal-blue edging around the rims. The BB-162 variety is identified by light clash marks at the date and the position of the A in STATES touching cloud 3. Die State III is indicated by the reverse cracks through OF to the wing, from the rim to cloud 7, and from R through the field to a leaf. The low number of Draped Bust dollars found in circulation resulted from the higher silver content in American dollars struck during this period relative to the popular Spanish Milled dollar. Therefore, U.S. dollars could be exchanged in the West Indies for Spanish Milled dollars at an advantage. This circumstance resulted in the cancellation of the dollar denomination after 1804. An important early type coin and one of only a few Choice Uncirculated specimens that survive. Population: 9 in 64, 4 finer (7/11). Ex: Colonel E.H.R. Green Collection; T. James Clarke Collection; New Netherlands 48th Sale (1956), lot 630; Long Beach Signature Auction (Heritage, 2/1999), lot 6028, realized $69,000; Oliver Jung Collection (American Numismatic Rarities, 7/2004), lot 74, realized $80,500.
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