Lot 1531
1840. PCGS graded Proof 65. According to the Bowers' Silver Dollar Encyclopedia, it was originally thought that perhaps the odd mintage figure of 61,005 represents 61,000 business strikes plus five proof or presentation coins. This has now been disproved as more than five proofs were eventually struck. The actual number was not recorded (nor were proof mintages for most other dates of the next two decades), but it is thought that 20 to 30 proofs were struck based upon Census figures and existing auction records. Slightly more 1840s were struck than in 1841s or 1842s, both of which are rarer today.
This fully defined Gem proof shows light contrast with frosty and fully lustrous devices on both sides. Variegated shades including green, gold, violet, and blue are seen overall and the underlying fields are deeply mirrored. Close examination with a magnifier reveals bold doubling of the impression, with considerable evidence that the coin was actually struck three times. Razor-sharp details show throughout including Liberty and her shield, as well as a high sharp wire edge. This coin was chosen by PCGS to illustrate the 1840 proof Seated dollar and this is the single finest example thus far graded by that service. Pop 1; none finer at PCGS. Tied for the finest graded at both services. (PCGS # 6981) .
Estimated Value $90,000 - 100,000.
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