Lot 1036
1794 Flowing Hair Dollar. . BB-1, B-1. PCGS graded VF-20. An above average strike on a decent planchet with some weakness around the borders. We note some adjustment marks about the obverse borders as made. Light antique grayish toning that deepens about the recesses and borders. Always in great demand.
The Philadelphia Mint did not have a coining press brawny enough to strike dollar-size coins in 1794, the largest one being used for large cents and half dollars. Therefore, this half dollar press was employed to strike the first American silver dollars. Compromises had to be made. It was soon revealed that the press could not fully strike the design on the left side of the coin (the dies being slightly misaligned). Although the left hand stars and upper portion of the left side reverse letters are normally weakly impressed, they are completely visible to the naked eye.
Few coins command such reverence in the numismatic community as a 1794 Flowing hair silver dollar, a classic in any grade. Only 1,758 pieces were coined in the autumn of 1794, each delivered to David Rittenhouse personally, as it was he who put up the bullion to create the entire mintage of our first U.S. dollar coins. Of the original mintage, only 125 to 150 pieces are believed to survive in all grades, mostly worn or showing various damage. Adjustment marks are evident on nearly all. Two authors, Jack Collins and Martin Logies, have devoted book-length studies of this one issue, and each and every specimen brought to auction finds an active following.
This example shows central sharpness for the issue, with a clear date, definition in the hair and profile, and even wear on the highpoints. As usual, the left side of both obverse and reverse are more softly impressed than elsewhere, but star 1 (and the other stars in the region) are completely visible as is the top half of the 1 in the date. Due to extensive adjustment around the obverse rim, UNITED STATES is legible though softly defined at the tops of the letters. The color is a light gray with dark gray areas above UNITED. Some vague vestiges of long ago cleaning are noted, no obvious scratches or rim problems and only light scattered marks (PCGS # 6851) .
Estimated Value $120,000 - 130,000.
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