1846-O $1 MS (PCGS# 6933)

Dallas Signature Sale #407

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    Heritage Auctions
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Lot Description
1846-O $1 MS63 PCGS. Only four Seated dollar issues were produced at the New Orleans Mint, the 1846-O being the first in this group. This date is also significant because it is the premier branch mint Silver dollar in U.S. coinage history. We do not know exactly how many dies the engraving department in Philadelphia prepared for the '46-O production run, but at least three distinct reverses were used to strike a total of 59,000 coins. This entire mintage was achieved in the month of June, after which the majority of coins entered circulation. Very few 1846-O dollars were deliberately set aside at the time of production, and most Uncirculated examples that have survived probably did so purely by chance. While worn survivors are scarce, if somewhat overrated on today's market, accurately graded Mint State representatives are few and far between. The present PCGS-certified 1846-O dollar easily qualifies for Condition Census standing. The reverse die seems to be the one that Bowers (1993) characterizes as having a "very weak and thin O mintmark." This date is not known for an especially sharp strike, and this coin is a little softly detailed around the obverse periphery from 12 o'clock to 5 o'clock. All remaining features on that side are bold, and the reverse displays an overall sharper impression. Both sides are toned in mottled steel-gray hues. There are a few scattered abrasions, but only a shallow scratch mark in the reverse field above the NE of ONE is useful for pedigree purposes. NGC and PCGS combined report only five coins in MS63, there are two MS64s, one at each service (5/06).
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