Lot 978
1799. B-12, BB-160, Rarity 3. NGC graded MS-62. Lovely, blue and gold toning. A simply first-rate coin whose strong mint original and lovely toning on both sides display ample evidence for why the grading service chose the MS62 grade. The devices are smooth and satiny below the toning, and show a microscopic texture seen sometimes on this die pairing, notably on Liberty. Fully struck by the dies. We describe it the perfect Type coin for any collector who stresses eye appeal, quality surfaces, and a boldness of detail when deciding. The coin is free of adjustment marks, or anything else for that matter to distract the eye, with the absent surface nicks or bumps improving the appearance many times over. This particular coin has only minor affecting six stars behind the eagle's head. This same characteristic can be seen on other Bust Dollars, of course, since this area lies opposite a high point (Liberty's bosom) on the obverse where often the metal failed to flow entirely into the die recesses. Although not the finest known of this variety, certainly well past the mid-range within the Condition Census. An excellent specimen for the collector who requires a high grade Type coin that has all the visual impact of a Gem, without the lofty expense. Pop 19; 47 finer at NGC.
Historic Note: In striking Silver Dollars, prior to 1836 the Mint used only screw presses, in which weighted arms were swung by strongly muscled men. The screw was driven downwards with great force, and the planchet was transformed into a coin by being squeezed between the obverse and reverse dies. There was an improved automatic feeding mechanism installed in the presses in 1795, apparently at the suggestion of John Harper.
In March 1836 the steam press was introduced to the Mint but did not strike silver dollars until the more general coinage that began in 1840. (The knuckle-action steam press operates on a different principle than the screw press.) David Gilbert, an employee of the Philadelphia Mint, invented an improved press in 1858, while in 1874, Coiner A. Loudon Snowden devised additional modifications. Several technical changes have been made since that time, but in essence a device similar in principle to the steam coining press of 1836 is still in use although it is now operated with electrical motors.
Before the coins were struck, however, the planchet blanks were placed on a hand-operated edge lettering machine, between two parallel bars, one fixed, one movable, each bearing half the edge device. A workman cranked the movable bar to impart the design. For the silver dollar this consisted of the wording HUNDRED CENTS ONE DOLLAR OR UNIT in capital letters with ornaments between words.
Before being struck, the blank was cleaned, but there was also a dilute acid treatment (usually sulfuric) to remove any surface oxidation. The blank was then sent to the coining rooms, to receive the impressions from the dies installed in the screw presses.
Estimated Value $25,000 - 27,000.
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