Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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Seated Dollars
1840 $1 MS63 NGC. OC-3, R.3. Curiously, the Seated dollars of 1840 (61,005 coins minted) were little saved at the time of issue. This deviation from the normal rule of squirreling away first-year representatives could be a reflection of the "Hard Times" era in which they were struck, per Bowers (1993). It could also reflect another economic reality: A dollar in silver was only worth about $1.01 in gold throughout most of the 1840s, so the coins remained in circulation instead of being hoarded or melted, accounting for their prevalence in circulated grades. The Silver Dollar Encyclopedia comments: "In true Mint State the 1840 is exceedingly rare, and very few have a claim to MS-63 or higher grade."
This outstanding Select Uncirculated first-year Seated dollar shows bold design definition throughout save for a bit of incompleteness on the reverse at the eagle's left (facing) leg. Dusky violet-gray toning cedes to shades of blue, green, and russet around the margins. Scattered marks appearing on both sides are generally difficult to discern beneath the rich patina. Census: 8 in 63 (1 in 63 ★), 1 finer (3/17).
Ex: Purchased by Eugene Gardner from U.S. Coins (10/2007); Eugene H. Gardner Collection, Part IV (Heritage, 10/2015), lot 98776.
From The Mesquite Collection.
HID02901242017
1840 $1 MS63 NGC. OC-3, R.3. Curiously, the Seated dollars of 1840 (61,005 coins minted) were little saved at the time of issue. This deviation from the normal rule of squirreling away first-year representatives could be a reflection of the "Hard Times" era in which they were struck, per Bowers (1993). It could also reflect another economic reality: A dollar in silver was only worth about $1.01 in gold throughout most of the 1840s, so the coins remained in circulation instead of being hoarded or melted, accounting for their prevalence in circulated grades. The Silver Dollar Encyclopedia comments: "In true Mint State the 1840 is exceedingly rare, and very few have a claim to MS-63 or higher grade."
This outstanding Select Uncirculated first-year Seated dollar shows bold design definition throughout save for a bit of incompleteness on the reverse at the eagle's left (facing) leg. Dusky violet-gray toning cedes to shades of blue, green, and russet around the margins. Scattered marks appearing on both sides are generally difficult to discern beneath the rich patina. Census: 8 in 63 (1 in 63 ★), 1 finer (3/17).
Ex: Purchased by Eugene Gardner from U.S. Coins (10/2007); Eugene H. Gardner Collection, Part IV (Heritage, 10/2015), lot 98776.
From The Mesquite Collection.
HID02901242017