Lot 974
1798. B-15, BB-112, Rarity 3. PCGS graded MS-61. Mostly untoned. A smoothly lustrous base-level Mint State with far superior surfaces and originality to most MS61 Bust Dollars we’ve seen. This superiority accompanies the mainly untoned silver color and is enhanced by everything being well balanced with no surprises or disturbance. The reverse and obverse centers play host to a complete if muted luster and originality always appreciated by the stronger buyers. In short, a lovely coin, one that certainly meets the qualifications for the grade.
Noteworthy are very sharp stars and most hair curls. Only the central strands failed to be struck completely. Next, we see something similar with the reverse, where the sharpest design features lie away from the center, and softness occurs at the eagle’s neck and shield below where, again, the dies did not press the planchet squarely enough to fill all the die recesses. Pop 1; none finer at PCGS for the variety. (PCGS # 40029) .
As we have noted elsewhere in the sale pertaining to early United States coins, prior to 1836, the Philadelphia Mint used only screw presses, in which weighted arms were swung by, as the Bowers silver dollar encyclopedia refers to them, "strongly muscled men." The screw was driven downwards with immense force, and the planchet was transformed into a coin by being squeezed between the obverse and reverse dies. Yet the force required to strike such a large diameter piece necessitated consistent strength from the arm of the coiner. Only the Greek allegorical figure Hercules could have sustained such energetic activity throughout the day! Is it any wonder that many early bust coins, not merely the grand-format Bust Dollar, sometimes come up short?
There are several varieties of the Draped Bust dollar (heraldic eagle reverse) for 1798. The differences are rather minor for the obverses, primarily consisting of wide or close dates and knobbed or pointed 9s, this BB-112 die featuring a wide date with a pointed 9. For the reverse we find the so-called arc and diamond-shaped star patterns, but these probably do not reflect policy but rather differing individuals in the engraving department helping Scot prepare the dies. One reverse die even has 10 arrows instead of the standard 13. Many of the minor details in the die-such as berries, stars, and arrows-were added by hand after the main design hubs were punched into a blank die. Bowers suggests there might have been more than one person seconded to the engraving department from other areas of the institution as the need arose.
Estimated Value $26,000 - 28,000.
Ex Miller Collection.
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