Lot 1664
1840 Liberty Seated Dollar. PCGS graded AU-55 PQ. Well struck with white and predominantly untoned, satiny surfaces. The obverse surfaces have a slight amount of reflectivity to them. Luster encompasses the entire obverse and reverse surfaces. Remarkable with regards to surface preservation, only a thin diagonal scratch through a portion of the date. Right of the date, near the border at 5:00, the die is convex and there are raised die lines. At the I of AMERICA there is a small iridescent spot.
The 1840 Seated dollar is the first year of production of the Seated dollar series and the first time a silver dollar was struck since the end of the business strike bust dollars in 1803. Perhaps due to its first year status or due to lack of promotion, the general public did not show enthusiasm for this issue and the 1840's sole purpose became that of a workhorse coin. Currently, this issue is scarce in all grades, rare in choice AU and represented in mint state by only 20 or so examples. PCGS population of 25 in AU-55 with only 40 finer. Housed in an old PCGS green label, fat letter holder (PCGS # 6926) .
Estimated Value $900 - 1,000.
The Michael M. Magdic Collection.
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| Realized $1,955 |
