1795 $1 Draped Bust, Off-Center MS(PCGS#96858)

June 2025 Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

2200

等级

AU55

价格

154,911

详细说明

A lively, lustrous example of both the type and die pairing, this handsome early dollar will appeal to many high grade type collectors. Hints of the frosty to semi-reflective finish flash into view as the deeply toned, steel-olive surfaces dip into a light. The strike is well centered with most design elements sharply to fully rendered. A concentration of adjustment marks is evident in the center of the reverse, where they interfere with some of the feather detail in the eagle's breast, legs and wings. These are as made, are light compared to what we have seen in many examples of this die pairing, and are a natural part of the production process for a 1790s silver dollar. Wisps of iridescent antique gold, powder blue and pinkish-rose undertoning further enhance this coin's already exceptional appearance.<p>As with most early U.S. Mint issues, the exact number of 1795 Draped Bust dollars struck is unknown. With high-quality steel in short supply and the consequent need to use working dies for as long as possible, coins were frequently struck from dies prepared in previous years. Mint records are of minimal help since they record only the number of coins delivered in any given calendar year, with no regard for the actual date depicted on those coins. For calendar year 1795, therefore, Mint records tell us only that 203,033 silver dollars were produced, with no reference to either the Flowing Hair or Draped Bust types.<p>The best estimate on the number of 1795 Draped Bust silver dollars struck is that of 83,178 pieces put forth by Harry E. Salyards in his 2022 reference <em>Eagle Poised on a Bank of Clouds</em>. Most of these coins - 78,238 pieces - were delivered in October 1795, the first month of coinage from engraver Robert Scot's newly completed Draped Bust dies. No additional dollars were delivered for three months in response to Mint Director Boudinot's policy of emphasizing fractional silver and copper coinage. The first two deliveries of 1796 amounted to 4,550 coins on January 30 and 390 coins on February 13, 1796, which totals numismatic scholars traditionally assign to 1795-dated dies, thereby rounding out Salyard's estimated mintage. Since the seven weeks that elapsed before the next dollar delivery on March 30 provided sufficient time for the Mint to prepare the first 1796-dated dies, it is generally accepted that delivery of 1796 Draped Bust dollars commenced on that date.<p>The mintage for this issue was achieved using only two pairs of dies, and the two varieties are easily distinguished. Bowers-Borckardt 51, with Liberty's bust not properly centered in the die due to a hubbing error, is presumed to have been struck first. Its reverse die would go on to strike additional silver dollars dated 1796, 1797 and 1798. The BB-52 attribution has Liberty's bust properly centered, as seen on all subsequent Draped Bust dollar issues; neither the obverse nor reverse die of this variety was used in any other pairing.<p>As an issue, the 1795 is the most frequently encountered Draped Bust, Small Eagle dollar in numismatic circles, with BB-51 the most common die pairing of the type. Salyards estimates the surviving population of that variety at 725 to 1,200 coins, as opposed to 475 to 800 coins for Bowers-Borckardt 52. Survivors of both varieties are usually in lower circulated grades, often with problems, so an attractive PCGS AU-55 as offered here should be recognized for what it is: a significant condition rarity worthy of serious consideration and strong bids.