Feb. 16, 2001, The Benson Collection Part 1, Sale 8
Lot 2230
1921 (2 pieces). A
pair of this high relief date. Both are untoned, one is well struck, the other
weak. Both grade About Uncirculated 50 to About Uncirculated 55. Lot of
2 coins.
Estimated Value $120-140.
Lot 2231
1922 (16 pieces). A
partial roll of this common date, these grade MS-60 to 63. Lot of 16 coins.
Estimated Value $125-200.
Lot 2232
1922-S. ICG graded
MS-65. Flashy white luster and without toning on the obverse, streaky on
the lower reverse. Clean cheek on Liberty.
Estimated Value $750-1,000.
Lot 2233
1924-S. PCGS graded
MS-64 Premium Quality. This one has blazing luster and is starting to tone
with hints of gold showing on both sides. Well struck and clean for the grade,
and certainly pushing a full gem in quality. See what you think, and bid
accordingly.
Estimated Value $1,000-UP.
Lot 2234
1924-S (2 pieces). A
pair of untoned coins. Both grade Mint State 60. Lot of 2 coins.
Estimated Value $200-250.
Lot 2235
1925 (4 pieces). A
small group which grades MS-60 and better. Lot of 4 coins.
Estimated
Value $50-60.
Lot 2236
1927. MS-60.
Blazing white and well preserved. Nice clean surfaces for the grade, and
perfect for a date set.
Estimated Value $50-60.
Lot 2237
1928. MS-60.
One of the scarce dates in the Peace Dollar series.
Estimated Value
$120-140.
Lot 2238
1928. EF-45.
Light hairlines from an old cleaning.
Estimated Value $110-130.
Lot 2239
1928. VF-35.
Light tan toning on both sides. Frosty luster beneath.
Estimated Value
$100-120.
Lot 2240
1928-S. PCGS graded
MS-64. Frosty and bright with a hint of delicate gold toning on both sides.
Nearly a gem and a scarce date.
Estimated Value $600-700.
Lot 2241
1934. NGC graded
MS-64. Blazing luster in the fields, and clean surfaces. Well struck at the
centers and with a small area of toning on the left side of the obverse.
Estimated Value $150-200.
Lot 2242
1934-S. AU-50.
Untoned and still lustrous from brief circulation. Well struck for this
date.
Estimated Value $250-300.
Lot 2243
1934-S. AU-50.
A few scuffs on the lustrous surfaces, and a scarce date.
Estimated
Value $250-300.
Lot 2244
1935. NGC graded
MS-64. Highly lustrous and with clean surfaces. Totally original.
Estimated Value $90-125.
Lot 2245
1921 to 1922. An
Extraordinary Set of Five Proof Peace Dollar Issues. The following five
coins are included in this unique set of Peace Dollar proofs: 1921
Matte Proof, NGC graded Proof-65; 1921 Satin Proof, NGC Graded Proof 64; 1922
High Relief, Matte Proof, NGC graded Proof 65; 1922 Satin Proof (low relief),
NGC graded Proof-63 and 1922 Matte Proof (low relief), NGC graded Proof
65.
This is an extraordinary set of Peace dollar proofs, the first ever
offered as a group so far as we know. The appearance of a single coin, any in
fact, of the above five pieces is cause for celebration and enough to make any
auction memorable. The key to the set is the low-relief matte proof 1922. This
coin is not reported in the Breen Proof Encyclopedia or in his primary United
States coin encyclopedia. It is one of two believed made for Ambrose Swasey, a
member of the Assay Commission, and the only coin so graded as a matte proof
with the production style lower relief used for 1922 and later Peace Dollars.
To have a complete set of proofs, the 1922 low relief matte proof must be
obtained!
Coins of the United States reflected our countries values from the
start. In 1796 when the heraldic eagle design was copied loosely from the Great
Seal, engraver Robert Scot made the "mistake" of placing the warlike arrows in
the eagle's right, or dexter claw (the place of honor), while relegating the
olive branch of peace to the sinister, or left claw. Perhaps this was
intentional by Scot, or maybe he didn't know any better. Another possibility,
last summer while enjoying the Philadelphia ANA show and taking a tour of the
Philadelphia State House where Congress first me, I noticed a finely engraved
eagle inside the Senate meeting room, curiously the arrows were again in the
right claw, while the olive branch of peace was in the left claw. The
Philadelphia State House was only a few blocks from the original Philadelphia
Mint, and it is conceivable that Robert Scot may have used this eagle carving
as his model to design the heraldic eagle coinage. It is further apparent that
no one changed the placement of the arrows and olive branch, as coinage so
arranged continued for eleven years until the John Reich designs were phased
in, which reversed the position of the arrows and olive branch in the claws to
the position of peace over war. Subsequent designs came and went, some with
more of a preference for war than peace, such as the Mercury Dime which
portrays a large fasces of rods and axes, while the olive branch is relegated
to an almost unrecognizable position in a low supporting role for the military
hardware. Never had a circulating coin been designed for peace.
A proposal
was made shortly after the Treaty of Versailles, which formally ended World War
I, by Farran Zerbe at the ANA Convention in Chicago of 1920. Zerbe proposed
that a new half dollar, or should silver dollar coinage be resumed a new silver
dollar instead. The ANA's enthusiasm was so great that a committee was formed
to submit a bill to Congress. On May 9, 1921 Morgan Dollar coinage resumed, on
that same day a bill was submitted proposing a new "Peace" design. The bill
languished while Congress adjourned because of a single objection and ensuing
debate. Later, it was discovered that approval of the Peace dollar did not need
Congressional blessing, as the Morgan design had been current well over its
statutory 25 year tenure. Thus, the Federal Commission of Fine Arts announced a
design competition on November 23, 1921 and invited eight of the nations
leading sculptors to submit models. The winner was Anthony de Francisci, who
submitted a lovely rendering of his wife as Ms. Liberty wearing a radiant crown
similar to several Roman coins, and the reverse with an eagle breaking a sword,
for disarmament (Isaiah 2:4). The design was publicized on December 19, 1921,
the same day Congress approved his models, only to meet with howls of raging
protest from officials. Somehow, the powers that be insisted the breaking of
the sword implied defeat, not peace or victory! Due to these objections, Mint
Engraver George Morgan altered Francisci's reverse design, remodeled the eagle,
minus the sword and arrows but with the olive branch of peace, placed the eagle
on a mountain peak inscribed PEACE. Hastily approved, Morgan's changed were
even more hastily rendered into working hubs and dies in high relief, and
1,006,473 were struck December 26 to 31, 1921. A messenger delivered one to
President Harding on January 3, others the same day to the Secretary of
Treasury and Director of the Mint. These coins were probably the matte or satin
finish proofs.
It is likely that the approval for coinage was based on these
lovely proof issues, and not from production coinage. Soon the Mint found that
the high relief coins of 1921 were causing unexpected die breakage and were
weak at the centers, as the Mint turned down the striking pressure to extend
die life. Morgan, who was upset that his design had been superseded, lowered
the relief on the electroplate model by pounding it down with a board and
hammer! Thus, the high relief coins were once again (like the 1907 double
eagles) greatly reduced in relief, allowing dies to last longer, and striking
pressure to be greatly reduced. The sad result is the uninspiring low relief
coins which are greatly diminished from the original concept designs of the
artist. These proof pieces stand as the only remnants of the glorious de
Francisci design. All are extremely rare and desirable, and all collectors
would do themselves a favor to study each of these coins to view these historic
rarities offered as a single lot.
The first coin, the 1921 Matte Proof
boasts superb surfaces, the fine matte powder used gives the coin an even
silvery gray color, with the periphery showing slight toning at the extreme
edge. Sharply impressed by the dies, with outstanding device detail over
Liberty's ear and on the reverse eagle high points. Breen notes that 6-8 are
known, one is located at the Smithsonian, another at the ANS, making very few
available for collectors. We're not sure if this is the Col. Green coin, Lester
Merkin, 6/71 or the former Kagin example. Naturally, this coin carries its own
credentials. NGC notes this coin alone in its grade category, with another
graded Proof 62 below. PCGS has not graded any 1921 Peace dollars in
proof.
The 1921 Satin Proof boasts light golden toning on both sides, the
strike is sharp, although the curls over Liberty's ear show only minor
weakness. Diagnostic die lines are visible as noted in Breen. NGC has graded a
thirteen of these, the Jack Lee coin as Proof-66, then this coin is tied with
six as the second best seen as Proof 64. Others grade lower. As noted in Breen,
these show no trace of mint frost. PCGS has not graded any of these.
The
1922 Matte Proof in High Relief is very similar in texture and appearance to
the 1921 Matte Proof. The matte process shows fine grains, and the surfaces are
even in color, a milky white silver. There is a small speck below the E of E
PLURIBUS on the reverse, which will help trace the pedigree of this coin. Breen
estimates that 6-8 are known, some of which are impaired. NGC has graded 4 as
such, with 3 graded higher. The surfaces of this coin are outstanding, and it
is sad that such quality is possible to coin, when one compares this with the
normal low relief issues of 1922.
The 1922 Satin finish proof features the
low relief, and the coin has no mint frost but instead is entirely reflective.
Despite the low relief, this coin is very sharply struck and boasts amazing
detail on the curls over Liberty's ear. Only 2 have been graded by NGC, none by
PCGS, making this coin extremely rare. Breen noted that only 3 were known in
his encyclopedia, and apparently none have been offered in some years at
auction. This coin has delicate gold toning on both sides, and because of its
sharp strike, is obviously a proof issue.
Last we have the 1922 Matte proof.
These were not known to Breen and are not reported in his Proof or regular
encyclopedias. Two of these turned up in the massive Norweb sale by Bowers and
Merena in 1988. Both apparently came from the collection of Ambrose Swasey, a
member of the Assay Commission at the time. It appears that George T. Morgan
coined two pieces in this matte finish specifically at the request of Swasey.
This coin was from Lot #3933 in the Norweb Sale. Although 4 are reported in the
NGC census, there may be one reported twice, this coin is listed under
"Norweb/Lee" (one of 2 graded Proof 63 and this coin as 65), then below as
"Matte Low Relief" as Proof 65, since this is one of two Norweb coins it is
reasonable to assume that someone sent it back for a possible upgrade, keeping
the known population at 3 coins. Milky white in color, and an outstanding gem
in every way. Free of toning and a beautiful example in every respect. It is
important to note that the other Norweb Proof example of this low relief Matte
Proof sold in Superior's 1995 Premier Sale January 1995, Lot 1069, graded NGC
Proof 64, which realized $242,000! This coin is a higher grade and certainly
worth more as such.
This group of five Proof Peace Dollars represents years
of work and research, offered as a single lot, a tremendous collection of
history for the numismatist. Lot of 5 coins.
Estimated Value
$200,000-300,000.
Lot 2246
1921 to 1935-S. A lot of
Peace Dollars. This lot includes the following dates: 1921, 1922 (2
pieces), 1923 (2 pieces), 1924 (4 pieces), 1924-S, 1925 (4 pieces), 1925-S,
1927 (2 pieces), 1927-D (2 pieces), 1927-S (2 pieces), 1928-S, 1934-D, 1934-S
(2 pieces), 1935 and 1935-S (2 pieces). A nice selection which
grades from Fine to Brilliant Uncirculated. Lot of 28 coins.
Estimated Value $350-400.
Lot 2247
1922 to 1924. Philadelphia
Peace Dollar Roll. This roll grades Uncirculated. Mixed dates,
mostly 1922 and 1923, with a pair of 1924. Lot of 20 coins.
Estimated Value
$200-250.
Lot 2248
1922 to 1935-S. A lot of
Peace Dollars. Mostly 1922 dated coins, but several others are included.
Grades Good to About Uncirculated. Lot of 77 coins.
Estimated Value
$350-450.
Lot 2249
1922-D to 1935-S. Peace
Dollars group. Includes: 1922-D (2 pieces), 1922-S, 1923-D, 1923-S,
1924-S, 1925-S (2 pieces), 1926 (2 pieces), 1926-D, 1926-S, 1927 (2 pieces),
1928-S, 1934, 1934-D, 1935 and 1935-S. Grades from About
Uncirculated to Brilliant Uncirculated. Lot of 21 coins.
Estimated
Value $500-UP.
Lot 2250
1922-D to 1934-D. A Denver
Mint Peace Dollar lot. This lot includes the following: 1922-D (2
pieces), 1923-D (2 pieces), 1926-D, 1927-D and 1934-D. Grades
range from About Uncirculated to Brilliant Uncirculated. Lot of 7 coins.
Estimated Value $150-200.
Lot 2251
1922-S to 1928-S. A San
Francisco Peace Dollar lot. This lot includes the following: 1922-S,
1923-S, 1925-S (2 pieces), 1926-S (2 pieces), 1927-S and 1928-S (2 pieces).
Grades Mint State 60 or better. Lot of 9 coins.
Estimated Value
$300-400.
Lot 2252
1926 to 1935. Philadelphia
Peace Dollar lot. The following dates are included: 1926 (2 pieces),
1927 (2 pieces), 1934 and 1935. Each coin grades Mint State 60 or better.
All are white and untoned. Lot of 6 coins.
Estimated Value $200-250.