Lot 1608
1801. B-3, BB-213. Rarity 3. NGC graded MS-60. Nice light grey toning. Most Silver Dollars of 1801, 1802, and 1803 saw strictly limited circulation. This was because their high silver content made it profitable to ship newly coined Dollars overseas. Once overseas they would be melted and sent back to the Philadelphia Mint for re-coinage -- in an endless circle -- with a small, but useful, profit left after two-way shipping and melting costs! As this practice became more and more flagrant, mint officials decided to halt coinage rather than debase the silver content of the Dollar which would have stopped the practice. Thus, many early Bust Dollars circulated but a short while before shipment overseas. One can only imagine how a high quality specimen such as this could have survived the ravages of time yet remain virtually as nice as the day it was minted. Whatever the number extant, it is a sure bet that only a limited number can approach this coin for overall desirability and eye appeal, let alone top it.
This nearly flawless Mint State 60 example has nice satin luster beneath delicate old-silver to light gold toning. The surfaces have a few wispy hairlines and a minuscule mark at the chin, but these are fewer than normally associated with the grade. The reverse remarkable for its boldness and attractive luster. Rims are ideally suited for the grade as well in showing complete elongated denticles. A hint of weakness at that is typically seen at the center on Bust Dollars is missing on this sharply struck 1801 specimen, with the key central areas such as the shield and eagle neck feathers strongly impress by the dies. Pop 1; 1 finer in 62 for the variety.
An estimated 400 to 750 specimens exist of the BB-234 overdate per the Bowers-Borckhardt reference material on this important US coin series, about as many as survive of BB-232. "Although several Mint State pieces are known, most are in significantly lower grades, with VF being average." Estimated Value $19,000 - 21,000
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| Realized $20,125 |
