Dollars

Lot 1776
1795. Off-center bust, Bolender-14, Rarity 3. NGC graded AU-55. A choice coin for the grade that has light silvery-gray color over reflective fields. The flowing hair design was rejected in 1795, and the Philadelphia Mint hired the famed portrait painter Gilbert Stuart to come up with a new obverse design for Liberty. Stuart bound Liberty's hair in a ribbon, and lengthened her flowing tresses to below her shoulders with soft curls predominating. The new Liberty design proved popular, and the design was employed as quickly as possible on all copper and silver coinage. This one is free of adjustment marks or rim bumps that so often are seen on these heavy coins, making this perfect for the type collector. Liberty is boldly struck, with complete curls even on top of her temple. The eagle, too, is bold, with most of his breast feathers present, and a small area of wear at the center from very brief circulation. Seldom found better, this coin will command attention from collectors of all sorts for its appealing surfaces and color.
Estimated Value $4,000-5,000.

RARE PROOF 1845 SEATED DOLLAR

Lot 1777
1845. PCGS graded Proof 61. One of only 10 or so struck in Proof, this is one that most collectors would appreciate. The surfaces are toned a medium gray with darker tones near the devices. We note handling marks in the fields, as expected for the grade, but they are toned over for the most part. This is the only coin in its grade category by PCGS, with 3 graded higher, and a couple of others in circulated proof grades. Simply put, there weren't many collectors around in the 1840s, and survival of any examples is something of a miracle. We think this is a coin that most collectors would love to own for its color and rarity. Recut 84 in the date as seen on all proofs of this date. Delicate rose toning at the centers and highly appealing.
Estimated Value $10,000-12,000.

Lot 1778
1846. MS-63. Light golden to gray toning on both sides and well struck on the peripheral stars and central devices. Some minor weakness on Liberty's high points, as expected for a coin of this period. The fields and devices show minimal handling marks, and the rims too are free of all but the most minor detractions. One for the type collector.
Estimated Value $3,000-4,000.

Lot 1779
1866. With motto. NGC graded Proof 65 Premium quality. An important type coin for the specialist, this is the first year of the new added motto, IN GOD WE TRUST above the eagle on the reverse, and its also a transitional year, wherein the motto was added well into 1866, so coin both with and without motto can be found (on the silver dollars of 1866, only 2 are known without the motto, one of which was stolen in the highly publicized robbery of the DuPont family, and still not recovered). Toned with lovely lilac colors on both sides with hints of vibrant blue at the periphery, and delicate rose shades at the centers. The mirror fields are well preserved on this coin, which is unusual, as most show heavy hairlines or other handling marks, keeping gems at a big premium. This is reflected in the grading service reports, for NGC, it has only graded 21 this high, with 9 graded higher of the original mintage of 725 pieces. Keep that in mind when formulating your bid, as this is a truly scarce coin, and made popular as the first of its kind with the motto on the reverse.
Estimated Value $10,000-UP.

THE FINEST KNOWN 1867 PROOF

Lot 1780
1867. NGC graded Proof 68 Superb!. The surfaces of this piece, are, shall we say--phenomenal!--virtually untouched since the day this piece was coined. Perfectly struck, perfectly preserved and gloriously toned, that's the package here. As to the other 1867 silver dollars struck in proof, most of the original mintage of 625 were spent, lost or otherwise damaged in the ensuing 133 years. After nearly 14 years of third party grading, the two services have seen most of what's available. Here's how the Population Reports of NGC and PCGS read: Proof 68, only a single specimen, this coin. Proof 67, none. Proof 66, NGC has seen 5, PCGS none. A few more gem 65s are available, with a total of 27 graded between the two. Furthermore, as a type coin, NGC has only graded 2 seated dollars this high, PCGS hasn't graded any in Proof 68, and neither has seen any in higher grades, naturally. Thus, this coin is tied for the finest known of its type with one other specimen.
Another fantastic feature of this coin are the dizzying array of colors that encircle the obverse, the edges are fairly dark in tones and as one moves closer to the bright white center, one passes through areas of color which look more like interstellar nebulas than the usual artists palette of rainbow tones. On the reverse, the color is more mottled, with deep smoky gray at the bottom, areas of brilliant rust hues scattered on the devices and hints of violet combined with dove gray. The ensemble is probably a natural outgrowth of careful storage for decades, and occasionally coins with vivid colors such as this are seen from sources that didn't touch, clean or even examine their coins for decades and more.
Certainly the most resplendent seated silver dollar in existence, and one that will command a record price to pry this coin away from its current owner. One of the most remarkable coins in this sale because of its fantastic state of preservation.
Estimated Value $50,000-UP.

Trade Dollars

Lot 1781
1875. PCGS graded Proof 64. Frosty and bright on the devices, with well mirrored fields. A glass will note the usual hairlines in the fields, from examination or gentle wiping with a cloth, seen on virtually all coins from this era to some degree. The periphery has started to tone with a delicate gold color, both obverse and reverse. This one is housed in the old style small PCGS holder, which are becoming rare as most coins have been reholdered for a nominal fee.
Estimated Value $2,300-2,500.

Lot 1782
1881. NGC graded Proof 65 Eliasberg on holder. A fabulous example of this proof only issue. The toning is spectacular with deep blues at the periphery and tawny gold at the centers. Surfaces are, of course, a delight, free of problems or handling marks. Only 960 were struck, very few of which still remain as gem today, others were probably melted at the time of issue as "unsold". An old time gem with an illustrious pedigree that is nearly as old as the coin.
Estimated Value $6,000-7,000.
From Bowers and Merena Galleries Eliasberg part II sale, April 1997, lot 2350; prior to that Granert Collection, Edouard Frossard, May, 1896; J.M. Clapp until 1942 when Eliasberg purchased the Clapp estate.

Lot 1783
1882. NGC graded Proof 65 Cameo. One of the best to survive from this meager mintage of 1,097. The NGC Population Report notes only 4 have been graded as such with the "Cameo" designation, and 5 graded higher. The coin is snowy-white and without any toning obverse or reverse. Deeply mirrored fields that are highly reflective, and extremely well preserved. A glass will scarcely find a hairline or two, and this coin has been carefully preserved since its time of issue. A magnificent gem proof for the date collector, who will be proud to own and display it.
Estimated Value $5,000-5,500.

THE FINEST 1884 TRADE DOLLAR

Lot 1784
1884 The Finest Known. PCGS graded Proof 67. Of the 10 known of this famous rarity, this one has been confirmed to be the finest known. Only the Eliasberg coin comes close, it has been graded Proof-66 by NGC sometime after that famous sale in 1997. The other known specimens are in various states of gem to harshly cleaned, and none of the others even approach this coin in surface quality and magnificent toning.
Yes, the toning is superb, deep Arctic blues around the edges which fade to rose gold at the centers, with the shimmering mirror fields resplendent in their preservation. The color is similar on the reverse, with a dark ring of blue around the periphery, with most of the coin bathed in antique-golden gray tones. As to the strike, it is full, complete and bold throughout. As Mehl said of this coin in 1941 in the Dunham sale "Beautiful perfect brilliant proof," which still sums up this magnificent specimen of one of the most famous Trade dollars.
Although over-shadowed by its big brother, the 1885 Trade dollar, the 1884 is certainly in the same class as several of the most famous American coins made. Its rarity is legendary, with 10 known it falls in between the rarity of the 1804 dollar (15 known) and 1885 Trade dollar (5 known). One of several numismatic classics that is certain to make this auction an important reference sale for years to come. Whatever price is paid, a better or equal specimen won't appear on the market, for this is the finest example graded, and long held to be the finest known of the small group that has survived. A foremost opportunity, which may not soon be repeated.
This coin was graded Proof 67 by NGC (tag #900003-011) but the coin was crossed-over to PCGS where it was also graded Proof 67. The buyer could obviously have to coin returned to an NGC holder with the tag insert, if they prefer.
How, pray, did this coin come about? There is no official record of the coin being struck, yet somehow 10 apparently were, as that many survive today. Many individuals have researched this issue, and much has been discovered over the years.
There had been no changes in the law or otherwise that would have caused production of the Trade dollar to cease in 1883 or 1884. In fact, research by Carl W. A. Carlson on the subject found that the normal proof dies were prepared and delivered to the Philadelphia Mint on January 3, 1884 of the following denominations: trade dollar, standard dollar, half dollar, quarter dollar, dime, double eagle, eagle, half eagle, three dollar gold, quarter eagle, gold one dollar and five cent nickel (it was the Mint's normal practice not to deliver the dies for the proof cent and three cent piece until later in the year). Thus, under the direction of Col. A. Louden Snowden, superintendent of the Mint, striking of the annual proof sets began in January. Trade dollars since 1879 had not been included in the regular proof sets offered by the Mint, but were ordered separately ($1.25). No change in authorization had been received by the Mint until mid to late January, 1884. Therefore, it is possible that Snowden had authorized the coining of Trade Dollar proofs of 1884 prior to receiving the directive not to sell any Trade dollar proofs. In order to balance the bullion account, all Snowden had to do was deposit 10 other silver dollars, and keep the 10 proof 1884 Trade dollars. Hence, no bullion would be missed, and there was no need to show that any had been coined. Perhaps hundreds were coined in early 1884, but were melted once the letter was received rescinding the sale of 1884 proof Trade dollars, aside from the 10 Snowden kept for his own account. It is possible therefore, that the 1884 Trade dollar was issued under normal, legal circumstances, and is not one of the "after hours" coins for which Snowden is famous. On January 2, 1885, the official record of the coiner states that the 1884 Trade dollar proof dies were destroyed along with the other 1884 dies used for proof coinage, as was standard practice at the Mint, confirmed by R. W. Julian researching mint records.
Hence, Snowden had 10 1884 Trade dollars struck in Proof, they were snatched up by (per Breen's Encyclopedia, page 466) "William Idler, who had been for over two decades the Mint's appropriately named fence for restrikes and fantasy coins." The 1884 Trade dollars passed from William Idler to his son in law, Captain J. W. Haseltine, and Haseltine reported the discovery of both the 1884 and 1885 proof Trade dollars from the Idler estate in 1908 and soon worked their way into numismatic channels.
A list of the known specimens follows (from Stack's Starr sale, 1992):
1) This coin, the Finest Known. Ex. mint official, probably Col. A. Louden Snowden; William Idler; Capt. John W. Hazeltine; unknown; William Forrester Dunham and sold with his collection to B. Max Mehl in 1939; Mehl's inventory; Mehl's 1941 sale of the William Forrester Dunham Collection, lot 1150, $315; Floyd T. Starr; Stack's sale of the Starr Collection, October 21, 1992, lot 844; to Jay Parrino at $176,000 to our present consignor.
2) The Newcomer/Carter coin (as above, Snowden, Idler, Hazeltine) Waldo Newcomer to Colonel E. H. R. Green; B. G. Johnson around 1943; B. Max Mehl Jack Roe sale, June 12, 1945, lot 627; B. Max Mehl Jerome Kern sale, May 23, 1950, lot 896; Stack's Amon G. Carter, Jr. sale, January 18, 1984, lot 440
3) The Atwater/Eliasberg coin Snowden; Idler; Hazeltine; B. Max Mehl Atwater sale, June 11, 1946, lot 377 to the Eliasberg Collection; Bowers and Merena Galleries, April 1997, lot 2353
4) The Menjou/Wolfson coin as above, Abe Kosoff Adolphe Menjou sale, June 15, 1950, lot 2040; Stack's Farish-Baldenhofer sale, November 11, 1955, lot 1039; Stack's Fairbanks sale, December 10, 1960, lot 698; Stack's Samuel Wolfson sale, May 3, 1963, lot 1541; Abner Kreisberg/ Carlson-Shipkey sale, November 8, 1976, lot 426; Bowers and Merena's Arnold-Romisa sale, September 17, 1984, lot 2342; Stack's French Family sale, January 18, 1989, lot 201
5) The Farouk/Norweb coin as above, Sotheby's Palace Collections sale, February 1954, lot 1679; Bowers and Merena Norweb II sale, March 24, 1988, lot 1847
6) The Marks/Herstal coin as above, Virgil M. Brand estate; Bowers and Ruddy RCR 15; Bowers and Ruddy Stanislaw Herstal sale, February 7, 1974, lot 734
7) The 1976 ANA coin as above, Stack's sale, as part of a complete proof set of the year
8) The Neil/Pelletreau coin as above, B. Max Mehl, Will Neil sale June 17, 1947, lot 296; Stack's Robert Pelletreau sale, March 6, 1959, lot 1054; NERCA/NENA Convention sale, November 7, 1975, lot 635; Hanks & Associates, April 20, 1985 sale, lot 351; RARCOA auction '89, lot 327; Superior Auction '90, lot 1163
9) The Olsen/Ewalt coin as above, B. Max Mehl/ Fred E. Olsen sale, November 7, 1944, lot 997; Stack's George S. Ewalt sale, November 22, 1965, lot 42, Stacks' Dr. C.L. Emmons sale, September 19, 1969, lot 814, Ivy ANA Convention sale, August 18, 1980, lot 1809; RARCOA Auction '84, lot 1809; Superior L.W. Hoffecker sale, February 8, 1987, lot 1446A; Ira and Larry Goldberg's Kardatzke sale, February 2000, lot 1470
10) The Colonel Green/Kelly coin Colonel E. H. R. Green estate; B.G. Johnson; James Kelly (1943-44) Frank Sprinkle; Stack's Frank Sprinkle sale, June 21, 1988, lot 461; RARCOA Auction '90, lot 845.
Estimated Value $500,000-UP.