ACNS Blog

Realized: $345,000 (AU 55)

Realized: $503,125 (MS 61)

1794 $1 AU55 NGC. B-1, BB-1, R.4. The McCoy Collection Specimen. With a continuous provenance dating back to 1864, this piece is one of the most historic 1794 silver dollars among the 135 or so pieces currently known. Martin A. Logies compiled a significant study of 1794 silver dollars, The Flowing Hair Silver Dollars of 1794, published in 2004. He recorded provenance details and additional information about 125 different specimens, with nearly all illustrated. Years earlier, the late Jack Collins spent 25 years studying the 1794 silver dollars, and his work resulted in an unpublished manuscript, 1794 The History and Genealogy of the First United States Dollar. Only Collins’ untimely death prevented publication of the nearly complete manuscript. Collins recorded details of about 117 different 1794 silver dollars in his manuscript.

Combining the two references and adding a couple of specimens, we now have an accounting of 132 different 1794 dollars, including this coin, which we consider the 10th finest. Based on the current provenance record, the present specimen was only the third 1794 dollar to appear on the numismatic scene. The British Museum owns an example that dates to 1818, and a second example appeared in an 1863 W. Elliot Woodward Sale. Two coins from the St. Oswald sale of 1964 reportedly date to the time they were minted, although such a provenance is unfounded.

Tip: Heritage Auctions

The acquisition and ownership of an 1804 silver dollar is a yardstick by which all great numismatic collections are measured, as it has been for more than a century and a half.  Known as “the King”, the 1804 silver dollar is the single most famous numismatic rarity, attracting more attention than any other single coin.

Several books, numerous articles, and many auction appearances have filled countless published pages over the past 150 years. Previous owners rank among the most famous numismatists, and in some cases among the famous personalities in this country. Limited market availability means that the successful capture of one of these prizes can take a lifetime.

Many American numismatic pieces, patterns and regular issues, are rarer than the 1804 silver dollar, with its population of 15 known specimens. Another issue, the 1933 double eagle, with an auction record in excess of $7 million, holds the title of most expensive, at least based on past sales. However, no other U.S. coin can ever be popularly accepted as the King of Coins. The 1804 silver dollar is clearly the most famous coin ever struck at a U.S. mint. Its rarity has been documented for more than 150 years.

Tip: CoinLink

On Aug. 20, it suspended sales of 2008 American Eagle Silver Proof coins so it can devote its limited silver blank inventories to the American Eagle Silver Bullion Program.

On Aug. 15, it suspended sales of the American Eagle gold 1 ounce bullion coins because inventories had been depleted.

“The United States Mint has been experiencing unprecedented demand for American Eagle silver bullion coins this year, exceeding the capacity of our blank vendors,” said Mint spokesperson Michael White.

“While Federal law mandates that the United States Mint produce silver bullion coins to meet public demand, there is no such requirement to produce proof versions of these coins,” he said.

Cathy Laperle, team lead for the U.S. Mint Bullion Program, said the Mint has inventory for all bullion programs, except for the 1 ounce gold.

“We are working diligently to build up our inventory and hope to resume sales shortly,” she said of the 1 ounce gold coins.

Sales of American Eagle Silver Proof coins will resume at a later date, White said, provided that the Mint can acquire sufficient inventories of silver blanks to meet public demand for all American Eagle Silver products.

The Mint is continuing to sell the 2008 American Eagle Silver Uncirculated coins on its Web site at http://catalog.usmint.gov/.

Courtesy of Numismatic News.

Nine silver dollars and a gold one-ounce $50 coin are called for in legislation seeking to honor the golden anniversary of the National Aeronautics and Space Administration, known universally by its NASA initials.

There are two measures that originated in different houses of Congress. Senate Bill 2159 passed with amendments on June 19, while another measure, H.R. 250, passed the House last year.

Both measures would significantly expand the realm of intergalactic coinage, and incidentally modern commemoratives, with the first $50 commemorative coin since the Panama-Pacific Exposition of 1915 and the giant slugs it wrought. The Senate measure expressly overrules the “only two commemorative programs a year” provision of the U.S. code, calling for orders in 2008 and production between now and the end of 2009.

Source: Numismatic News.

District of Columbia Mayor Adrian Fenty announced Thursday the winning Washington, D.C. quarter design featuring historical jazz legend, Duke Ellington. The Mayor officially communicated the selection to United States Mint Director Edmund Moy.

The voting was close across each, but the winning quarter design of Ellington won by 3 percentage points.

In a letter to Director Moy, Mayor Fenty could not help but bring up the Mint’s rejection of D.C.’s first inscription choice, “Taxation Without Representation.”

“As you know, the overwhelming majority of Washingtonians who participated in the entire process requested that the District quarter include the phrase “Taxation Without Representation” to help educate the country about our historical and continued status as unequal citizens.

We were disappointed by your decision to disallow this phrase, as it is a condition with which we live every day.”

2009 quarter release schedule:

• The Commonwealth of Puerto Rico
• Guam
• American Samoa
• The United States Virgin Islands
• The Commonwealth of the Northern Mariana Islands

Source: CoinNews.net