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Sale 72
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Lot 1249
1827. NGC graded Proof 67 Star Cameo. Only 12 examples struck. Pop 1; none finer at NGC. The only piece graded in Proof Cameo by the service. This coin presents a very interesting scenario regarding the discussion of early American Proof coinage. When examining this specimen, perhaps the first thing we see is a group of diagonal marks extending from 11 o'clock to 5 o'clock across the reverse. These are clearly mint-made as the design elements have been struck over them; they are not a result of post-striking defacement. After the devastating fire at the Philadelphia Mint in January 1816, coinage was notably curtailed for two years during the repair process. Part of the repairs included an upgrade to a steam-powered roller machine; the previous model was horse-drawn. Ingots of silver (also, gold or copper) were heated and gradually passed through these rollers, somewhat akin to rolling cookie dough with a rolling pin. This gradually reduced the thickness of the metal until a large sheet (approximately 12 feet in length and 18 inches wide) was very close to the approximate thickness of the required coinage, in this case Dimes. At this point, the silver sheet was passed through a "drawbar," the final sizing process. Imagine a very hot sheet of soft silver passing through a narrow slit between two hardened steel blades. Any contact with these blades would cause filings and shards of metal to accumulate on the surfaces of the sheet, which in turn, could build up to create marks on the soft, smooth surfaces as the metal continued to pass through the "drawbar." Finally, a series of round cutters would literally punch blanks from the sheet of silver, like cookies being punched from dough. Most of the "blanks" were smooth, however, some possessed these telltale surfaces marks, incorrectly dubbed "roller marks" by many modern numismatists. They are actually "drawbar" marks. Perhaps, the single issue that is most often seen with "drawbar marks" is the 1902-S Morgan silver dollar. It is estimated approximately 20% of total production exhibits these marks to some degree.
Estimated Value $100,000 - 125,000.
Ex: Stack's Bareford Sale Lot 170 October 22, 1981.
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| Realized $86,250 |
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