1798 $1 BB-82, Small Eagle MS(PCGS#40006)

The Regency Auction 41

拍卖行

Legend Rare Coin Auctions

批号

16

等级

MS63

价格

1,476,155

详细说明

THE BRUCE MORELAN COLLECTION The FINEST KNOWN B-1, BB-82 dollar, ex Thomas Cleneay, Col. Green, and Eric Newman Collections. An historic coin that was "missing" from numismatics, as it had not been seen at auction for over 100 years until it was "discovered" in the Newman Collection! A fully CHOICE Mint State example, and a truly special example of this scarcer variety, the final marriage that utilized the Small Eagle reverse type. The surfaces have a brilliant, satiny mint frost that shows soft, partial cartwheel luster that glows on both sides. Like many of the Col. Green and Eric Newman coins, the central portions of the design are brilliant, pearlescent silver, deepening in tone toward the peripheries. The iridescent gold, richer amber, and slate-blue hues frame the central devices. Like many of the Col. Green coins, we believe at some point this coin had been dipped prior to placement in Eric Newman's collection. Nearly seven decades of storage in Newman's craft envelopes imparted the now famous peripheral toning that make many of his early silver coins marvelous to behold. A few very minor lines, some slight hints of contact scattered about are seen, but no mark or line is singularly distracting and it was a couple of these that led the catalogers of the Newman Collection to verify that this was the long lost Cleneay coin. Both sides are sharply impressed with only a trifle touch of weakness in the highest central portions of the design type: we note some softness in a few of the hair curls and the eagle's neck, chest, and leg. All other design elements came out fully by a precise, well-centered blow from the dies. The stars are all crisp, the dentils are all full and essentially perfect in their centering on the planchet. Struck from a late die state, Bowers-Borckardt State III, which shows lapping on the obverse which removed some details in the hair curls and some minor clashing in the fields. The reverse die was utilized also in striking the 1797 B-1, so with this marriage, extensive die cracks are shown. Amazing that a coin of this advanced state can show such full definition. The eagle truly seems to float atop the clouds. The eye appeal is truly remarkable, the combination of luster, toning, strike, and the neat character of the reverse die state all combine to give this CHOICE Bust dollar a great look. Bruce purchased this coin from Heritage's Eric Newman Collection sale, where it sold as NGC MS63 in November 2013, lot 33506 for $258,500. Earlier this coin was lot 933 in the December 1890 Chapman Brothers' sale of the Thomas Cleneay Collection, lot 933. The copy of the Cleneay catalog on the Newman Numismatic Portal has a notation "Mougay" next to this lot. The September 1910 Thomas Elder sale of the Peter Mougey Collection featured an example of this issue as lot 552, which is a different example. Though the plate shows a different patina, we know that Col. Green had the habit of conserving his coins. Eric Newman and Burdette Johnson purchased the Green Estate in partnership, then Mr. Newman bought this coin for his collection for $75. This coin is mentioned in the July/August 2019 PCGS Rare Coin Market Report, in Ron Guth's article, "Great American Collectors and Their Coins: Thomas Cleneay," where Ron Guth wrote: "As a type, the 1798 Small Eagle, 13 Stars silver dollar is fairly common, but Cleneay’s example is the best of the bunch. It was recognized as a condition-rarity even back in 1890 when it was among the price leaders in the sale. After spending nearly 125 years in the collections of Peter Mougey, Col. E.H.R. Green, and Eric Newman, it joined Bruce Morelan’s fabulous collection of Mint State Flowing Hair and Draped Bust dollars in 2013. Bruce, who is justifiably proud of his Bust dollars, said this about the Cleneay 1798 Dollar in a 2016 interview: '…it is the only 1798 Small Eagle [Dollar] that I’ve seen that actually has luster.' Bruce would know." PCGS 1, NGC 0. As noted above, this coin brought $258,500 in its only appearance in auction in over a century. The only other Uncirculated example was the Pogue Collection coin graded MS61 by PCGS. A challenging type coin to find in high grade, this coin deserves a home in a truly special, world class collection! It is very unlikely that another Mint State example will come up for sale any time soon! Bid accordingly. Cert. Number 28943919 PCGS # 6867.00