Lot 922
1794. PCGS graded VF-20. CAC. This is one of the most attractive examples of this coveted date and issue that we have handled. As experience dictates, finding an attractive 1794 silver dollar takes considerable patience and often a good stroke of luck. The color is a pleasing bluish-gray on both sides, and close scrutiny fails to locate more than a few trivial handling marks. Adjustment marks are faint, if indeed even present along the left side of the obverse. For this area is weakly struck up as nearly always seen with the date and stars along the left side appearing weak and shallow. Similarly the letters of NITED STATES are very weak. Nevertheless, the head of Liberty is well struck up, as well as the wreath and central eagle. Considerable feather definition remains on the wings as well as the tail of our national symbol. Die clashing is evident, placing this coin in die state III of this issue.
A total of 1,758 pieces were struck of this date in October of 1794. All of these were delivered to David Rittenhouse on October 15, 1794 and most soon entered circulation. From this small beginning of our crown sized silver dollar, today approximately 126 examples are known to survive. Incredibly 48 of that number are impaired to some degree, many with varying repairs and holes filled. This example being offered is clearly not at all impaired, and represents one of the finer and more wholesome survivors overall. These facts are based on the reference The Flowing Hair Silver Dollars of 1794 by Martin A. Logies. At least one addtional 1794 has been found since this information was published in 2004, nailed over a door frame in an historic home in Virginia undergoing renovations. Precious few of these are likely to be found in the furture.
For pedigree names and markers, this is the coin from the Michael F. Higgy Collection, sold by Abe Kosoff, September, 1943 as Lot 804, it later appeared in the William A. Knapp Collection by B. Max Mehl, March 1945, Lot 508. There is a faint tick over the B of LIBERTY on the rim, and another faint nick below the eagle's beak near the wing. A shallow hairline extends from the second hair curl from the top into the left field on a nearly horizontal angle. When all comes to all, this important and attractive specimen will no doubt find a most satisfied new owner of an irreplaceable and historic offering of our nations first silver dollar (PCGS # 6851) Estimate Value $190,000 - UP
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