LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

4942

1795 S$1 Flowing Hair, Two Leaves, Silver Plug VG10 PC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:5,500.00 USD Estimated At:1.00 - 2.00 USD
1795 S$1 Flowing Hair, Two Leaves, Silver Plug VG10 PC
<B>1795 S$1 Flowing Hair, Two Leaves, Silver Plug VG10 PCGS.</B></I> B-3, BB-11, High R.5. Fourth curl wraps down to third; single tail berry, outside berry below O. Die State I with perfect dies, the usual die state seen. Reiver State a. This is a rare and underappreciated variety with only 30 to 40 examples known, many with a silver plug like this specimen, and nearly all in grades below VF. This die marriage is believed by specialists to be the first die combination struck in 1795. A prominent silver plug is visible on both sides and is especially evident on the obverse. Light silver-gray at the centers and on the devices with peripheral steel and russet toning. The surfaces are minutely granular with evidence of slight tooling along the lower reverse border. The surfaces appear to be affected by heat, perhaps also explaining the readily visible silver plug. As the coin became warmer, the material would expand slightly, causing the silver plug to "pop out" ever so slightly.<BR> The silver plug dollars (three or four similar half dollars exist, as well as a single 1794 dollar) were created within the Mint in 1795. A thin silver sliver was added to the blank planchet to increase the weight. This was accomplished by punching a hole in the planchet and inserting the sliver into the hole, extending slightly past the actual planchet surface. When the coin was struck, the dies would press the sliver down and out across the surface, imparting the design at the same moment. Several different die varieties are known on silver-plugged planchets. A point to ponder is the possible relationship between these coins and the emission sequence of varieties. The earliest deposits of silver had to be processed within the Mint at the time the metal was received, with the resulting coins paid back to the depositor as soon as they were struck, according to the laws of that time. It is certainly possible that a single silver melt was rolled into planchet strip that was slightly thinner than it should have been, resulting in underweight planchets that required an upward adjustment through the silver plug technology.<BR><I>Ex: Harry Laibstain (12/2004).</B></I><BR><I>From The William Luebke Collection.</B></I><BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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