1870-S H10C MS(PCGS#4397)

Jim Gray's North Carolina Collection

拍卖行

Bowers & Merena

批号

2065

等级

MS63

价格

5,828,597

详细说明

1870-S Breen-3128. MS-63 (NGC) Both sides are semi-prooflike in finish with moderately glowing fields evident beneath a rich overlay of original toning. The patina is mostly charcoal-gray in hue, but direct light angles call forth more vivid golden-orange undertones. The striking definition is typical of the type with overall bold detail that wanes a little bit over the highpoints of the obverse portrait and the reverse wreath. The S mintmark is filled. There are no outwardly distracting abrasions, but close inspection with a loupe reveals some wispy blemishes. Of course, the unique status of this coin and its necessity for inclusion in any complete set of Seated Liberty or United States coinage renders such discussions of its striking characteristics and surface preservation almost meaningless. This is the second time that we have handled this important silver rarity, and it is sure to be as memorable an event. The creation of this unique numismatic treasure is shrouded in mystery. What we know for certain is that the cornerstone of the second San Francisco Mint, the building that has become known as the “Granite Lady” and now serves as a museum, was laid in 1870. The coiner, J.B. Hamstead, struck a few coins for inclusion in the cornerstone, one of which is an 1870-S Three Dollar Gold piece struck from a reverse die into which Hamstead cut the S mintmark himself. (Apparently, the dies had arrived from Philadelphia without the mintmark.) Hamstead also struck one additional 1870S Three Dollar before the dies went back to Philadelphia, a coin that he kept for himself and mounted. This piece did not come to the attention of the numismatic community until March 1911, when it was offered in Thomas L. Elders sale of one of William H. Woodin’s collections. The auction lot included a piece of paper that read: “This is the dupli¬ cate of the coin struck for the cornerstone of the San Francisco Mint and the only one in existence. J.B. Hamstead.” We believe that this statement may also explain the existence of the present 1870-S Half Dime. It is likely, although unconfirmed, that an 1870-S Half Dime is also present in the cornerstone of the “Granite Lady.” If so, then it is also probable that Hamstead struck one other example either for his own keeping or for presentation to someone of note at the cornerstone laying ceremony. This would be the coin that we are offering in this lot, although its whereabouts prior to 1978 are unknown. It seems that this coin’s unique status and true value remained concealed for some period of time because it was discovered in the junk box of a Chicago dealer early that year. Since Louis E. Eliasberg, Sr., the only person to ever assemble a complete collection of every known date, mintmark, and denomination of U.S. coins, passed away in 1976, he did not know about this coin’s existence and, therefore, it was not included in our sale of the Eliasberg Collection. As one final note of interest, the reverse die of the 1870-S Half Dime was also used to produce 1871-S Half Dimes. PCGS#: 4397. The owners and auction appearances of this important coin include: Unknown Chicago dealer, 1978; RARCOA, who placed it on display at the 1978 ANA Convention in Houston; Michigan dealer John Abbott, 1980, acquiredfor $425,000; Four Memorable Collections Sale (Bowers and Merena, 9/1985), lot 174, where it realized $176,000; Martin Paul; Superior's session of Auction '86; 7/1986, lot 1053, where it realized $253,000; Larry and Ira Goldbergs’ sale of 10/2000, lot 1629.