Lot 1162
1798 Draped Bust Dollar. Heraldic eagle reverse, close date. PCGS graded VF-20. An extremely rare coin in any grade, this die pairing was first discovered about 25 years ago, and only a few have been offered over the years. First the obverse die was used to coin the 13 star small eagle coins, then the new heraldic eagle reverse die was paired with this obverse. Therefore, it is logical to assume that this was the first silver dollars of the heraldic eagle variety coined in 1798. The dies were not properly aligned, and this variety is virtually always weak on the sixth and seventh star and the L of LIBERTY. Further, the obverse die cracks with a break from the rim to the bust near the 8, and another through the third and fourth stars to the ribbon. These cracks, and unusual die swelling, combined to make the obverse and reverse dies appear oblong, and slightly out of round. The coin itself is truly round, and this was checked prior to submission to PCGS. Toned with deep steel gray in the fields, lighter on the devices on both sides. Identifiable by a small edge nick above the Y on the obverse, and on the reverse by light adjustment marks near OF and a thin scratch through the upper right side of the shield. As to the Condition Census of a dozen coins, this one is probably near the lower end, but all the higher grade examples we've seen are tied up in specialized variety collections. One of the rarest of all Bust dollar varieties, and anyone who is serious about these coins should put this one away as it may not be offered again for many years.
Estimated Value $4,000 - 6,500.
This coin was a duplicate owned by H. Rolland Willasch and sold to Jim Matthews via Julian Leidman in February 1989, it next appeared in Bowers & Merena's Alexander Sale, November 1996, lot 2001 then to the John Haugh collection.
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| Realized $4,255 |
