Lot 961
1794 Flowing Hair Dollar Rarity 4. . BB-1, B-1. NGC graded Fine-15. A very pleasing example for the grade with a nice full date and free from defects and major flaws. We note some normal weakness about the left side stars and corresponding portions on the reverse. A nice even light lilac-grey tone further enhances its appearance. Always in great demand as our regular First Silver Dollar. Pop 5.
Historic note: The dies for the 1794 dollar are almost certainly the work of Robert Scot, a medalist and die sinker. On November 23, 1793, Secretary of State Thomas Jefferson, who was in charge of the affairs of the Mint, wrote to Robert Scot and sent him a commission to be engraver at the Mint. To Scot fell the task of cutting the dies for coinage, including the 1794 Flowing Hair dollar. In November 1794, John Smith Gardner was hired as his assistant, but by this time the initial delivery of silver dollars had been accomplished. Probably, Gardner worked on some of the 1795 and later dies.
To prevent filing and clipping by the public to reduce a minted coin's weight, it was desired to ornament the edge. In this way, the removal of silver could be detected. For the silver dollar, lettering was applied by a machine which rolled the finished planchet (but before striking by the dies) between two parallel steel bars, upon each of which was half of the edge lettering inscription: HUNDRED CENTS ONE DOLLAR OR UNIT and ornamentation between words.
Per the Bowers encyclopedia: "Known silver dollars dated 1794 are from a single pair of dies and are believed to have been made to the extent of, perhaps, 2,000 coins (Walter H. Breen's estimate), of which 1,758 pieces were considered to be satisfactory delivered by the coiner on October 15, 1794. The remaining impressions, possibly amounting to 242 coins, rejected as being too weak, probably were kept on hand for later use as planchets. Supporting this theory is the existence of at least one 1795 silver dollar (BB-14) plainly overstruck on a 1794 dollar."
Estimated Value $80,000 - 90,000.
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| Realized $97,750 |
