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Dallas Signature Sale 1373 28-31 Mar 2024
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Seated Dollars
1859-S $1 MS64 NGC. OC-2, R.4. Osburn-Cushing Die State a/a. The 1859-S is the only San Francisco issue of the No Motto Seated dollar type. The workhorse silver denomination of the era in the West Coast was the half dollar, likely because the weight of the half dollar was reduced in 1853, while the seated dollar standard weight remained steadfast at 26.73 grams. Thus, silver depositors received greater face value in return if they requested the half dollar denomination. The 1859-S silver dollar mintage was only 20,000 pieces, "minted primarily for foreign trade" according to Q. David Bowers. One purpose may have been the purchase of silver bars from Mexico, which demanded silver dollars in payment.
Given its low mintage and likely mass melting in foreign shores, it is little surprise that the 1859-S is scarce overall, and surprisingly rare in Mint State. There were few if any coin collectors in the West in 1859, and Mint State pieces survive merely by chance. Those few pieces tend to grade MS61 through MS63, and near-Gems are great rarities, limited to the present lot, an MS64+ CAC piece at PCGS, and an MS65 NGC example (2/24). The present coin ranks among the finest survivors of the issue. It is predominantly cream-gray with glimpses of russet-brown toning near the rims. The strike is sharp except on the eagle's left (facing) ankle. The semiprooflike surfaces show no reportable distractions. The dies are rotated 25 degrees counter-clockwise from usual coin turn.
https://coins.ha.com/itm/seated-dollars/1859-s-1-ms64-ngc-oc-2-r4/a/1373-3052.s?type=DA-DMC-CoinArchives-USCoins-1373-03282024
HID02906262019
© 2024 Heritage Auctions | All Rights Reserved
1859-S $1 MS64 NGC. OC-2, R.4. Osburn-Cushing Die State a/a. The 1859-S is the only San Francisco issue of the No Motto Seated dollar type. The workhorse silver denomination of the era in the West Coast was the half dollar, likely because the weight of the half dollar was reduced in 1853, while the seated dollar standard weight remained steadfast at 26.73 grams. Thus, silver depositors received greater face value in return if they requested the half dollar denomination. The 1859-S silver dollar mintage was only 20,000 pieces, "minted primarily for foreign trade" according to Q. David Bowers. One purpose may have been the purchase of silver bars from Mexico, which demanded silver dollars in payment.
Given its low mintage and likely mass melting in foreign shores, it is little surprise that the 1859-S is scarce overall, and surprisingly rare in Mint State. There were few if any coin collectors in the West in 1859, and Mint State pieces survive merely by chance. Those few pieces tend to grade MS61 through MS63, and near-Gems are great rarities, limited to the present lot, an MS64+ CAC piece at PCGS, and an MS65 NGC example (2/24). The present coin ranks among the finest survivors of the issue. It is predominantly cream-gray with glimpses of russet-brown toning near the rims. The strike is sharp except on the eagle's left (facing) ankle. The semiprooflike surfaces show no reportable distractions. The dies are rotated 25 degrees counter-clockwise from usual coin turn.
https://coins.ha.com/itm/seated-dollars/1859-s-1-ms64-ngc-oc-2-r4/a/1373-3052.s?type=DA-DMC-CoinArchives-USCoins-1373-03282024
HID02906262019
© 2024 Heritage Auctions | All Rights Reserved