Lot 1470
The Olsen/ Ewalt/ Kardatzke 1884 Trade Dollar. PCGS graded Proof 50. PCGS has labeled this famous coin PR50, but frankly that puzzles us. It has been cleaned, everyone knows that as it has appeared in a number of famous auctions: the Mehl/Olsen sale of Nov. 7, 1944, as lot 997; Stack's George Ewalt sale of Nov. 22, 1965, as lot 42; Stack's Emmons sale of Sept. 19, 1969, as lot 814; Ivy's 1980 ANA sale as lot 1809; RARCOA's Auction '84 sale, again as lot 1809; and Superior's Hoffecker sale of Feb. 8, 1987, as lot 1446A, and Worrell sale of Sept. 1993, as lot 1324. The coin was usually called Proof-60, cleaned with hairlines. For some reason, unknown to us, PCGS decided to deduct a lot of points and call it "50." But the coin has absolutely no wear, which 10 points below "60" would indeed imply, wouldn't it? And then, what is the meaning of "PR60" if not to describe a coin such as this, adding that it is cleaned. In any event .
Only 10 pieces were minted, causing this to become one of the most celebrated coins in American numismatics. The present cataloguer finds the piece to be highly attractive, that is to have its own eye-appeal, despite the obvious swirling hairlines. It is a bright silver in color (evidently it has been dipped since it appeared in the 1984 Apostrophe Sale; see previous catalogues for comments on its color). Like the other 1884 Trades, it can most likely be traced back to the estate of William Idler. The 1884 Trade dollar was not known to exist prior to 1908. Since then, it has appeared regularly but infrequently at auction. Usually years pass between offerings (by estates most often), as their owners rarely wanted to part with them.
Here then is one of the American classics. Its sale offers a chance to add your own name to the ranks of the famous who have possessed one--names such as Dunham, Newcomer, Col. Green, Jerome Kern, Amon Carter, Atwater, Eliasberg, Adolf Menjou, Wolfson, King Farouk, Norweb, Worrell and many more. Are you next? If you win it, we think you will become possessed by its charm, even with the hairlines--and will want to keep it for many years as the treasure it has proven to be.
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| Realized $86,250 |
