Feb 18-19, 2002, The Benson Collection Part 2, Sale 13
Lot 1145
1795. Off-center bust,
BB-51, URS-12, B-14, R-2. ANACS graded MS-60. Toned with jet black
colors throughout, the centers slightly lighter in color. We note there are
central adjustment marks on Liberty, but they are mostly hidden by her hair and
the toning. Boldly struck as are most of this variety, with mountainous hair
details on Liberty and even full breast feathers on the eagle. We note some
faint hairlines in the fields, and a few scattered marks from handling, none of
which are warrant description. Rare and desirable in any grade even approaching
mint state, this one will certainly attract considerable attention from type
collectors.
This is an important type coin, and it is believed that this is
one of the two dies that first introduced the draped bust design coupled with
the small eagle reverse to the nation in October of 1795. Few are known that
even approach mint state, and this is certainly one of the better ones. An
important coin for the collector.
Estimated Value $17,000-20,000.
Lot 1146
1795. Off-center bust,
BB-51, URS-12, B-14, R-2. PCGS graded AU-58. One of the highlights
of the Benson collection, this early dollar embodies the gorgeous toning and
general high quality seen on so many of Dr. Benson's coins. The strike is
average for variety, with some weakness on the breast of the eagle and mid
curls on Liberty. Both sides show deep steel gray at the rims with lighter gray
in the fields all with fiery hints of gold and russet luster combine to give
this museum quality piece a regal air. The surfaces show minor handling marks
from over two centuries of age. We note trivial adjustment marks on the eagle's
breast, and this coin can be identified by an "S" shaped lint mark left of the
first A in AMERICA.
Over the years we've noticed that a coin which grades
About Uncirculated can mean many things. Most show minimal wear, and were
obviously circulated for some time. Others, as seen here, probably never
circulated, and the surfaces show just trace handling marks. For this reason,
the price realized often does not reflect the reported "AU" price, and choice
coins sell for far in excess of their technical grade. This particular example
certainly has a lot of potential to be a runaway, as the surfaces, color and
luster will dazzle all who take the time to examine it. Color photo.
Estimated Value $5,000-7,500.
From the Benson collection and
purchased from James G. Macallister in 1944 for $45.00 as "Uncirculated".
Lot 1147
1795. Off-center bust,
BB-51, URS-12, B-14, R-2. PCGS graded EF-45. Lovely old Wayte
Raymond toning at the periphery of the obverse and reverse, while the centers
remain soft silvery gray. Examination will note a hidden and shallow scratch
from the lowest part of ribbon into the field below and through several curls
and ending near the 1 in the date. The obverse shows minor adjustment marks,
some on the rim near the date, others at the center. We note that the surfaces
are generally better than average, and the rims show only one low area above
the TY of LIBERTY where we see what appears to be a tiny edge flaw. Nice for
the grade assigned. Color photo.
Estimated Value $3,500-4,500.
From
the Benson collection and purchased from Ira S. Reed in his final auction sale
on March 30, 1946 for $44.00.
Lot 1148
1796. Small date, large
letters, BB-61, URS-12, B-4, R-4. Sharpness of AU-55 but ornately
engraved and holed. The obverse of this coin is ornately engraved "A gift
from Capt Smith to A Phelan Dec. 7". with the Dec. 7 just above the date 1796.
Through Liberty's bust is a moderate hole so the coin could be worn as a
necklace. No engraving is noted on the reverse. Both sides show some stray
scratches, some of which were used to line up the letters, as well as some file
marks on the rim above the last couple of stars and other marks probably
occurred during the engraving process. Remarkably, the coin shows very little
wear, and the eagle retains nearly full breast feathers.
Who was Capt.
Smith? Why did he give such a precious gift to A. Phelan? Obviously, this was a
treasured memento and one senses that this coin was cherished by the owner for
many years. Toned with a lovely silvery gray hue throughout, and certain to
elicit far more questions than answers to the person who buys this piece of
American history.
We checked on Genforum on the internet and noted there is
a large posting for the "Phelan" family, and with some research feel that the
mystery of who gave this coin can someday be unraveled.
We also noted the
Baker Library and Historical Collections has a page with several Smith's and a
reference to Annie Phelan, which could possibly the person referred to on this
coin, and we thank W. David Perkins for his assistance in locating this
reference via the search engine Google.
Placing a value on this coin is very
difficult. This is certainly far more desirable than the usual holed and
scratched Bust dollar, and best of all, this coin has a story to tell. Engraved
or counterstamped Bust dollars are extremely rare, and seldom offered. Most
transactions are between collectors, so the price paid is not reported.
Needless to say, this is an exciting coin and feel that it will remain a
cherished item in any collection.
Estimated Value $5,000-UP.
From
the John Haugh collection and purchased privately.
Lot 1149
1796. Small date, large
letters, BB-61, URS-12, B-4, R-3. AU-50. A lovely example of this
common variety, the surfaces are toned a steel gray with slightly darker areas
at the periphery, and traces of luster are noted near the devices. Well struck
too, with most of the breast feathers remaining on the eagle and his eye
remains sharp. Perfect for the type collector, and the draped bust, small eagle
variety is one of the more difficult coins to find in each of the silver
denominations. Worth a strong bid from a collector who wants a choice, original
coin.
Estimated Value $6,000-7,000.
Lot 1150
1796. Uniface Flipover
Overstrike. Large date, small letters, BB-65, URS-11, B-5a, R-4. NGC
graded EF-40. This is almost certainly the famous coin Bolender referred to
in his reference work on Early Silver Dollars in 1950 and this was offered in
1952 when Bolender sold his famous collection February 23, 1952. As we know,
all Bust dollar errors are extremely rare. In particular, this coin is very
unusual in that only one side has been double struck, and what later became the
obverse has no evidence of a prior striking. How could this come to pass? Logic
dictates that two planchets were accidently fed into the coining press which
were approximately lined up, with the planchet used to strike this coin on the
bottom. The two planchets were struck, the upper planchet receiving the reverse
impression, and this planchet received the obverse impression. The error was
discovered, and it is likely that both planchets were restruck. For the coin
here, the planchet was flipped over, then restruck. Between UNITED and STATES
the date is still plainly visible, along with Liberty's drapery lines and
several stars, although these details were flattened out by the second strike.
One less spectacular area of note is that Liberty's profile is seen in the
clouds below the eagle, her lips and chin just above the bow knot and part of
her nose resides on the right ribbon loop. The other planchet used in the
initial strike, with the reverse doubled, has apparently been lost, as no
auction reports of a double reverse struck 1796 dollar have been
located.
As an aside, this die pairing has a deep bubble in the die steel,
which had collapsed by the time this coin was struck, leaving a lump between IC
of AMERICA, and where this bubble formed in the die the coins struck have a
large raised lump in that area. If both sides of this coin were double struck,
then this die lump would be located approximately where the 13th and 14th stars
are on the obverse, and we see no evidence of the lump in that area.
The
coin itself has a lovely gun metal gray color, there are some trivial
adjustment marks on the left obverse rim and the surfaces show minimal handling
marks and light hairlines. A delightful coin for the specialist.
Our
consignor had read about this coin in the Bolender book many years ago, and
kept a weather eye out for it, when it appeared, he quickly snatched it up
where it became one of the highlights of his error collection. Although we have
no photographic or definitive evidence that this is the Bolender coin, we are
confident based on the description that this has to be the same specimen sold
in his sale of 1952. This coin is also mentioned in the Bowers/Borckardt
reference under the notable specimens.
Estimated Value $7,500-UP.
From the Col. Green collection which was purchased and sold by B. G.
Johnson and Eric Newman, later in the Gettys collection where it was purchased
by Milferd H. Bolender, and sold in his auction sale of his collection,
February 23, 1952, lot 26 for $42.00; and more recently it appeared in a Bowers
& Merena Rarities Sale, January 1999, Lot 1171 and the John Haugh collection.
Lot 1151
1797. Double struck
reverse. 9 stars left, 7 right, small letters, BB-72, URS-9, B-2, R-4.
ANACS graded EF-40. One of just two reported double struck examples
of this scarce variety. On this particular coin, the reverse is double struck
with a slight shift between the first and second strikes, and doubling can be
seen on the wreath, wings, AMERICA, leaves and ribbon. It is interesting to
note that this variety has long been considered rare, but over the past few
decades research has shown that at least 100 exist of this variety, but it
remains in constant demand by Guide Book, major variety and specialists
alike, all of whom need an example of this variety. The surfaces of this coin
are average to slightly below, with some toning breaks on the upper points of
Liberty's hair and neck, and the reverse shows rim nicks above ITE of UNITED.
Minor adjustment marks can be seen around the rim of the reverse, and some
light scratches are also present. Toned a deep steel gray, and quite natural in
appearance.
Estimated Value $5,000-7,000.
From the John Haugh
collection and we were unable to trace a prior appearance.
Lot 1152
1797. Double
Struck. 9 stars left, 7 right, large letters, BB-73, URS-12, B-1, R-3.
PCGS graded AU-53. Here is a spectacular error on a high grade 1797
dollar. Not only is the entire coin double struck, but the surfaces show very
little wear, and substantial breast feathers remain on the eagle. As to the
double striking feature, all design elements show doubling on the obverse and
reverse, and the second strike expended most of its energy canceling the first
strike, with many areas nearly obliterated, and other areas where the devices
are quite bold. All lettering, the date, Liberty, the eagle's wings, head and
even eye are all clearly doubled, with just enough of a shift to make it really
stand out. The stars are a wonder, showing many extra points and odd shapes. A
coin that must be seen to be fully appreciated. When this mint error last
auctioned in 1997, Mark Borckardt mentioned that it might even be triple
struck, which is entirely possible as the devices show many fragments from the
prior strike or strikes. There is a small edge flaw near the bust tip on the
obverse, and this will help identify this coin in the future. Lightly cleaned
long ago, with faint hairlines, and now toned a lustrous golden gray color.
Estimated Value $8,000-12,000.
From Bowers and Merena's Sale,
November 1997, lot 1012 to Jim Matthews and purchased privately by John Haugh.
Lot 1153
1797. 9 stars left, 7
right, large letters, BB-73, URS-12, B-1b, R-3. PCGS graded EF-45.
Extraordinary quality for any bust dollar, with memorable blue and gray
toning throughout, and luster remains in the protected areas. A later die
state, the obverse had all but shattered when this one was struck, and numerous
light cracks can be seen as described in the Bower/Borckardt or Bolender
reference, the reverse die had not cracked when this one was struck. Minor
weakness is noted around the center of the obverse, as usual for the die state,
and we note a very faint pin scratch above ERTY to the two stars nearby, and on
the reverse there is a trivial gouge left and below the U of UNITED. The
reverse die was rotated about 30 degrees clockwise when this one was struck.
Well over half the eagle's breast feathers are sharp, and this coin is easily
in the top few percent of those known of the date for eye appeal as well as
technical grade. Color photo.
Estimated Value $4,000-4,500.
From the
Benson collection and purchased from B. Max Mehl on May 4, 1946 for $35.00,
with the note "rare so choice" and we absolutely agree with that.
Lot 1154
1797. Double
Struck. 10 stars left, 6 right, BB-73, URS-12, B-3, R-2. Sharpness
of Fine-15 but cleaned. This one has been cleaned in the past, and we note
some dark patina clinging near the devices, especially on the reverse, and this
coin may have been exposed to a hostile environment at some time in the past.
Here is another spectacular double strike, although in a more moderate grade.
The separation between the strikes was approximately 1 millimeter. We note a
rim bump on the obverse at 11:00 o'clock, and a scratch down Liberty's face and
neck from her ear. Not the prettiest coin in this collection, but quite
interesting for the specialist in errors.
Estimated Value $2,000-3,500.
From Bowers & Merena's LaRiviere Part II Sale, March 2001, Lot 329 and
the John Haugh collection.
Lot 1155
1798. Double or Triple
Struck. Small eagle, 15 stars, BB-81, URS-11, B-2, R-3. Fine-15
obverse, Good-5 reverse. Here is one of John Haugh's favorite early dollar
errors. It comes with a custom Capital Plastics holder which describes the coin
as a triple strike, one of the only triple struck Bust dollars known outside
the Smithsonian Institution. Further, Mr. Haugh had several notable specialists
like Jules Reiver and Ken Bressett examine the coin, most of which agreed that
it was indeed triple struck, and signed an informal note to that effect which
is included with this lot. One person who examined the coin was certain that
the reverse was quadruple struck, while the obverse was triple struck. A coin
which warrants extensive examination and discussion, and many will be
fascinated by the bizarre effects of the multiple strikes.
First off, this
is the scarce 15 star, small eagle variety, which is instantly identifiable as
only one die was used in 1798 with 15 obverse stars. Further, the small eagle
reverse is indeed scarce, with just two varieties known, and as such, this is a
major Guide Book variety for major type collectors too as well as an
important coin for variety collectors. Second, the coin itself is quite nice
for the moderate grade, toned an even gun metal gray with no real surface
problems aside from several rim bumps on either side, one above the L of
LIBERTY, another near the 14th star, and on the reverse above UNITED and just
past AMERICA. The reverse is weak as always for this variety, and this weakness
is exacerbated by the multiple striking. Examination will note the coin is
clearly double struck, and the third strike seems to be present on the stars. A
fascinating coin for the specialist to long enjoy.
Estimated Value
$3,000-UP.
From Superior Galleries H. W. Blevins sale, June 1988, lot
3636 and purchased privately by John Haugh some years later.
Lot 1156
1798. 13 stars on obverse,
small eagle reverse, BB-82, URS-11, B-1, R-3. PCGS graded VF-25.
Medium silver gray toning with blue and russet near the rims. The obverse
has some faint adjustment marks criss crossing at the center but no other
surface marks worth noting. Late reverse die state, with multiple cracks
through the legends. Not a particularly rare variety, but kept in high demand
by type collectors who need the thirteen star, small eagle combination.
Estimated Value $2,000-2,500.
From the Benson collection and
purchased from B. Max Mehl on May 4, 1946 for $35.00.
Lot 1157
1798. BB-108, URS-11,
B-13, R-3. PCGS graded EF-45. A choice coin for the grade with
natural yellow gray tones on both sides and well struck by the dies. This is a
fairly early die state, with the die line above the right serif of the L in
LIBERTY just forming. Minor adjustment marks on the reverse. Our consignor
believes this coin to be double struck near the N of UNITED, but we could find
no evidence of a second strike, but there are some adjustment marks in that
area. Overall, this is a very nice coin for the variety or type
collector.
As a quick aside, this is one of the most commonly misattributed
Bust dollars, many times BB-108, B-13 is called BB-109 or B-10 in error. Both
varieties were struck with the same obverse die, and the reverse is similar but
can quickly be told apart by the three lower stars above the right wing and
scroll, on the BB-108, B-13, the middle star is below the line formed between
the three stars, on the rare BB-109, B-10, the middle star is above the
imaginary line.
Estimated Value $2,000-3,000.
From the John Haugh
collection.
Lot 1158
1798. Heraldic eagle
reverse, 13 arrows. BB-121, URS-10, B-9a, R-4. ICG graded EF-45. A
scarce die variety and interesting late die state. Light silvery gray in color
with traces of luster in the protected areas. Although ICG calls this a "10
arrows" reverse, it is actually a 13 arrow reverse, 3 of the arrows being faint
but visible with a glass. Sharply struck by the dies, and quite a nice coin
overall with no signs of adjustment marks, rim knocks or similar problems. One
minor planchet streak through ST of STATES.
Estimated Value $1,400-1,700.
Lot 1159
1798. BB-106, URS-8, B-19,
R-5. ANACS graded EF-40. A scarce die pairing which is not fully
appreciated by variety collectors. The obverse die broke early, and all seen to
date have a bisecting crack through the 1 of the date to the E of LIBERTY,
which produces a curious "V" area in the hair below that letter. This coin
appears to be close to Bowers die state III or a bit earlier, as the crack
isn't visible above Liberty's head. Lovely dark gray in the fields with lighter
silver on the devices of the obverse, the reverse with multicolored tones
within the devices which come alive when the coin is examined. The rims,
surfaces and devices are all totally problem free and this coin is very choice
for the grade. This might be at the low end of the condition census, but there
are several known in approximately this grade, with a single mint state coin
known.
Estimated Value $1,250-2,000.
From the John Haugh collection.
Lot 1160
1798. BB-110, URS-6, B-16,
R-6. ANACS graded VF-25. One of the classic rarities of the Bust
dollar series, the obverse die broke quickly with a heavy crack from the rim
near the first star to the tops of the 179 of the date. Nearly every coin seen
of this variety is a different die state with the crack growing progressively
worse with every coin struck. A few are seen with only a trace of the crack,
which starts between the 17 of the date and makes its way to the left towards
the rim below the first star. This particular coin is actually a fairly early
state, with the crack heavy over the 179, but weak by the time it nears the
star. Toned with dark gray hues in the fields, lighter silver on the devices,
which are well struck. There are several rim knocks, including two over RTY and
another below the first star, and other smaller ones on the obverse. On the
reverse, we see rim marks over the first A of AMERICA and other smaller ones as
well. No other circulation problems worthy of note, and a very rare coin in all
grades, with perhaps 30 known in all.
Estimated Value $2,500-3,500.
From the John Haugh collection.