1802 $1 PR (PCGS# 6905)

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

  • Auctioneer:
    Heritage Auctions
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Lot Description
1802 $1 PR64 PCGS. B-8, BB-302, High R.7. Ex: Cleneay/Brand/Norweb. The 1802 proof silver dollars are fabulous rarities with a surviving population of just four examples. Heritage Auctions was privileged to offer a specimen of this iconic issue just a few months ago, in our August 2012 Philadelphia Signature Auction, which realized $851,875. The opportunity to acquire another 1802 so soon after a public sale is unprecedented in numismatic history, as years or even decades normally pass between offerings. By extraordinary good fortune, the present coin has become available, and we expect intense competition from advanced collectors when this lot is called. The coin offered here boasts an unbroken pedigree all the way back to 1890, and may well be the discovery coin, first exhibited by Captain John W. Haseltine in 1876. Super-collector Virgil Brand included this piece in his remarkable collection, and it was a highlight of the fabled Norweb gathering, a mark of distinction for any coin. This example displays attractive light silver-to-gray surfaces, with a blush of hazy gold over the reflective fields. The devices are well-frosted and carefully preserved since the time of issue. Examination of the fields reveals the peculiar deep watery reflectivity that is expected from highly polished dies, offsetting the richly frosted devices. The obverse has a scattering of dull pits which can best be seen with a loupe, one near the second star in the field, another above the ribbon end, a few more below Liberty's chin to the 11th star, and a couple on her chest. These pits are minimally distracting and serve as good pedigree markers for this very rare coin. What caused these tiny depressions is unknown, but they were likely on the planchet at the time the coin was struck, as no deformation is seen surrounding them, and they are different in size. This feature was noted as early as the Cleneay Sale (S.H. & H. Chapman, 12/1890), lot 949: {blockquote}"1802 Perfect date. Brilliant p
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