Lot 1458
1807 Draped Bust Dime. . JR-1. NGC graded MS-65. Old holder. Beautiful rainbow toning on both sides. 165,000 minted. The reverse die for the 1807 Draped Bust Dime had previously been used to strike four quarter eagle issues: the 1805, 1806/4, 1806/5, and 1807. Once it was switched to use for dimes dated 1807, more than 150,000 were coined! Given this state of affairs, most of the examples known today display multiple die characteristics, including weakness on the left side of the obverse, die clash in the obverse field, repolishing, or missing peripheral detail on late strikes. For the collector interested in the minting process and coinage procedures, this is an year for study. Light, not extensive, clash marks are visible in the fields of this specimen; they are more prominent on the obverse right and left of the central device. Breen noted that the dies clashed as many as nine times.
This example is fully lustrous with frosty surfaces, and given the MS65 grade, easily encompasses the top-end eye appeal we see. Iridescent color gives a further boost to the lovely appearance. The surfaces, gem quality from top to bottom, seem to glow with an inner light. In closing, a splendid Gem with excellent prospects for the astute buyer. Pop 13; 3 finer (PCGS # 4480) .
Mint officials were continually striving for uniformity among coins as a means to discourage counterfeiting in the first years of the new Republic. With engraver John Reich's arrival at the Mint in 1807, more progress was made in that direction. Reich succeeded in reducing the number of individual operations needed for each working die. The Heraldic design required between 34 and 37 design elements to be added by hand. With Reich's Capped Bust design replacing it in 1809, the number dropped to 24, an obvious savings in labor. In addition, the coins were more uniform, therefore harder to mimic successfully. Production was greatly increased thereafter, which is why these earlier lower-mintage Heraldic pieces are so difficult to find in choice and gem Mint condition.
Estimated Value $30,000 - 33,000.
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