Lot 1099
1801 Draped Bust $1 B-4, BB-214. Rarity 4. PCGS graded EF-40. There is a small mark in the field above the hair ribbon. Otherwise smooth surfaces and fine details the main attractions. Light to medium toning. Choice rims on both sides.
Whereas during the period 1794-99 the intrinsic value of the silver dollar had not exceeded its face value, in 1800 the dollar became worth slightly more as bullion than face value. In 1801 a silver dollar was worth about $1.03, making them profitable to melt. For this reason, mintages declined. As silver dollars continued to be worth more than face value, most (including earlier-minted coins on hand) were exported. The situation grew intolerable, and in 1804 production ceased. Only 54,454 pieces minted in 1801. Pop 1; 1 finer in 45. Only 2 examples graded for the variety at PCGS. (PCGS # 40086) .
Estimated Value $4,500 - 5,000.
Ex; Hesselgesser/Queller Collection.
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| Realized $4,140 |
