Lot 1275
1797 B-1, BB-73 Draped Bust 9X7 Stars Large Letters Rarity 3. PCGS graded AU-55. Subset of PCGS # 6863. In a new secure plus holder. Condition Census. Previously graded AU58 by NGC. There are some interesting varieties of the 1797 dollar, mostly revolving around the number of stars on the obverse (either 9X7 or 10X6). All dies have 16 stars, proving that the dies (unlike the 1798 obverse with 15 stars) were made after June 1, 1796 when Tennessee became the sixteenth state to be admitted to the Union. It may be that as few as 2,493 dollars of 1797 actually bore that date; this is the coinage executed in August, when the last silver coins for the year were delivered.
It is probable that many of the known 1797 dollars were actually coined and delivered on January 5, 1798, when the chief coiner brought 30,372 dollars to the treasurer. The maximum coinage from one press, per day, at this time was about 13,000 pieces (the figure is for cents and may be somewhat lower for larger coins such as the dollar), meaning that many 1797-dated coins may have been struck in 1797 but not delivered until the beginning of the new year. Struck coins were sometimes held for several weeks before delivery if there was not enough on hand to pay off the oldest unpaid bullion deposit.
Full sharp devices and residual luster remains on antique gray surfaces, overtoned in light dappled tones. Nicely centered with a solid ring of dentils around both sides, a fabulous strike for the variety. Excellent eye appeal for the grade, a very pleasant looking coin. It is the first listed "Notable Specimen" for the variety in the Bowers' Encyclopedia. This piece is a 1797 dollar of impeccable quality and timeless appeal Pop 4; 1 finer in 58 for the variety (PCGS # 40003) .
Estimated Value $25,000 - 30,000.
Ex: Stack's session of Auction '83, Lot 720, where it was described as MS63; Ex: Cardinal Collection; The Dr. Hesselgesser Collection.
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| Realized $31,050 |
