Lot 1141
1795 Flowing Hair Dollar. Two leaves beneath each wing. VF-30. Here is a rare coin in fairly high grade for this scarce variety. This is thought to be the very first issue of silver dollars from 1795, and it is likely that this coin was included in the first delivery of that year. It is an early die state, before the heavy crack forms on the reverse die through the C of AMERICA. The silver used to coin these was not properly refined and rolled, and many BB-11, B-3 silver dollars show planchet flaws and the coins are often a yellow color instead of silvery gray. This one shows both minor planchet flaws and has the typical yellow color. Identifiable by a small flaw under the 5 of the date, one on the back of Liberty's nose, and another above the E of UNITED near the rim. As to the surfaces, they are very clean for the grade, with no circulation problems other than a few trivial scratches and hairlines from a past cleaning. The rims too are pleasing, with no significant bumps or bruises, although there are some very minor ticks. There does not appear to be a silver plug in this coin, and there are no adjustment marks.
Over the last decade, significant work has been done by this cataloguer to update the condition census of this variety which was published in the Bowers/Borckardt in 1993. First, under their notable specimens the Doolittle, Ostheimer and Davis Graves coins are all the same specimen, which for many years had "SEP" engraved in the field, and these faint initials were expertly buffed out sometime before it was consigned to the Doolittle sale in 1977 (this specimen was just offered in Superior's Elite Sale, January 9, 2002, with no mention of the buffing in the fields and graded AU-55). A recently discovered specimen was offered in Bowers & Merena's Baltimore Sale, November 2001, PCGS graded AU-55 with a silver plug, and another significant offering of this variety was Stack's September, 2000, another silver plug example with the reverse die crack through C of AMERICA which graded EF-45. Further research is still pending on the other notable coins listed, and we hope to publish an update of the Bowers/Borckardt book in the next few years which will bring the notable specimens up to date. This particular coin is certainly in the Condition Census of the top 12 known, and is probably one of the top six for the variety. An opportunity for the specialist to purchase a rare and somewhat unappreciated coin.
Estimated Value $6,000 - 9,000.
From Stack's Sale of June 1995, Lot 392 and the John Haugh collection.
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