Lot 2737
1794 Flowing Hair Half Dollar. PCGS graded MS-61. O-101. Well struck with nice even toning on both sides. Among the finest known. A great coin. PCGS # 07998124. A highly desirable specimen of America's first half dollar issue, which is only stating the obvious, since this is indeed one of the very finest known of the variety or, for that matter, the date. Lovely dove-gray antique silver surfaces yield effortlessly to subtle olive accents over the generous cartwheel luster. The eye appeal is magnificent, "boasting an incredibly original appearance" as the 2004 Stack's catalogue put it. The strike is outstanding on both sides, a chief consideration for this often haphazardly hand-struck issue. A coin with exemplary detail that is seen in Liberty's hair, the eagle's head and wings, and the peripheries. "Some natural adjustment marks are seen on the obverse," explains the ANR cataloger of this coin in 2006, "but only under scrutiny, as the force of the strike mostly obliterated them; the diagonal vestiges are most notable in the high point of Liberty's hair at precise central obverse, with lesser lines seen on the cheek and in the field in front of Liberty's chin. A few shorter adjustment marks are seen outside the stars on the right side of the obverse. A thin curved scratch runs from in front of Liberty's nose to inside star 13, some minor scattered contact points, nothing serious. The overall quality is impressive, and the aesthetic appeal is grand. Some people refer to a specimen like this as "wholesome," though we prefer the rare-book term 'unsophisticated,' used to describe a book that has never been rebound, fixed, or otherwise tampered with."
A rarity in all grades, Mint State 1794 half dollars are a special. They are a highly desirable breed. A handful of top grade pieces exist from this Overton-101 die pair, including the lovely Eliasberg coin, the high-grade Reed Hawn-Queller specimen, the Jimmy Hayes coin that last sold in 1985, and the magnificent F.C.C. Boyd-Noblet coin (PCGS MS-63) that was sold in 1999 for $288,500. "With only these few to satisfy all the connoisseurs of this popular denomination," says the ANR sales piece, "the opportunity to purchase one is not to be taken lightly. Many great collections of half dollars have contained only circulated specimens of this date; even Pryor had only a VF from this die marriage. Ownership of any 1794 half dollar is a point of pride, but successfully purchasing a specimen like this could really define a world-class cabinet of the denomination." Pop 1; 1 in 64 (PCGS # 6051) .
Estimated Value $350,000 - 375,000.
From Stack's sale of the Empire (Cass) Collection, November 1957, Lot 1264; Stack's Americana Sale, January 2004, Lot 3303;.
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