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Heritage World Coin Auctions
FUN Signature US Coin Sale 1251  4-6 & 8-9 Jan 2017
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Lot 4551

Starting price: 1 USD
Price realized: 7500 USD
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Early Dollars
1798 $1 Large Eagle, Knob 9, 5 Vertical Lines, B-32, BB-91, R.6, VF35 NGC. Bowers Die State II. When we offered this exact dollar in the Jules Reiver sale, we detailed the information from the 1975 ANA sale that the coin was an unlisted variety and likely unique at the time. Since then, early dollar collector, dealer, and researcher, W. David Perkins, has proven that this is William G. Baldenhofer's discovery specimen that M.H. Bolender confirmed in 1956. Another collector, Frank M. Stirling, publicized the new variety in the June 1957 issue of The Numismatist where it was plated. To the best of our knowledge, only four collectors have owned this coin: Baldenhofer, A.J. Ostheimer, Reiver, and the present consignor who purchased the piece directly from the Reiver sale.
Today this coin is a light silvery-gray color, with some luster in the protected areas. There are some small nicks near Liberty's ear, otherwise the coin is average for the grade. A well pedigreed and pleasing example for the variety specialist. Apparently one of the first varieties struck in 1798, soon after the small eagle coins were coined as this die pairing uses the same obverse die from the Bolender-1 issue but with additional die cracks.
The B-32, BB-91 dollar of 1798 is a rare variety and, today, has a total population of just over a dozen pieces. While a small number of finer pieces are known, no others can claim to be the Baldenhofer Discovery coin.
Ex: W.G. Baldenhofer; A.J. Ostheimer; 1975 ANA Sale (Superior, 8/1975), lot 853; Superior (2/1977), lot 472; Jules Reiver (Heritage, 1/2006), lot 23553.
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