2540
1797 Bust $1. 10 Stars L, 6 R
Currency:USD
Category:Coins & Paper Money / US Coins
Start Price:2,400.00 USD
Estimated At:5,000.00 - 6,000.00 USD
SOLD
7,750.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2012 Jan 31 @ 10:29UTC-8 : PST/AKDT
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A full invoice should be emailed to the winner by the auctioneer within a day or two.
1797 Draped Bust Dollar. 10 stars left, 6 right. PCGS graded EF-40. Well struck with excellent detail for the grade. The surfaces are a plessing uniform medium gray. Note in particular the lovely toning shade as it accents the sharp detail and mar-free fields and devices. Surely this rates an extra strong bid for its superior quality. Pop 4; 9 finer at PCGS for the variety (PCGS # 40004) .
Historic Note: According to the Bowers-Borckhardt encyclopedia of Silver Dollar, in 1797 the number of stars on the silver dollar was increased to 16. The coinage is said by government reports to be the lowest of any year from 1795 to 1803, although now it is believed that the numbers given are incorrect. "I believe that most or all of the mintage of 7,776 coins reported for the calendar year may have been of earlier dates, and that most coins struck from dies dated 1797 were actually made in early 1798."
It is a virtual certainty that many more than 7,776 silver dollars were struck with the 1797 date. "I [Bowers] estimate the number to be 60,000 (within about 10%). As noted earlier in the present text, numerous numismatic data suggest that the mintage of 1797 must have been about on a par with that of 1796, or not significantly different. (I estimate the mintage of 1796 to have been 75,000, not far from the official government figure for the calendar year of 79,920; however, some 1796 dollars may have been struck later as well, and part of the 79,920 number may have consisted of 1795-dated dollars.)
"As the estimated 60,000 1797-dated silver dollars could not have been struck earlier than 1797, and the quantity made is almost certainly far greater than 7,776, the only remaining possibility is that they were struck later, with the calendar year 1798 being the most likely candidate."
In 1797, production problems continued at the Mint. Sporadic coinage runs for silver dollars occurred in February, late May to late June, and in August. The Mint was closed from late August to late November, due to a yellow fever outbreak. Thus, the mintage for the calendar year was very small.
Estimated Value $5,000 - 6,000.
Auction Location:
11400 W. Olympic Blvd. Suite 800, Los Angeles, California, 90064, United States
Previewing Details:
LOT PREVIEW
By appointment Only
January 2-20, 2012
9am - 5pm
OPEN LOT VIEWING
January 23 - February 1, 2012
9am - 5pm
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
20% |
Additional Fees:
Shipping Details:
Will ship worldwide
Payment Details:
No Info Available
Accepted Payment Methods:
- VISA
- Master Card
- Money Order/Bank Draft
- Check/Cheque
These Terms And Conditions Of Sale Set Forth The Terms Of A Public Auction Sale Conducted In Beverly Hills, California By Ira & Larry Goldberg Coins & Collectibles, Inc., A Nevada Corporation, California Auction Bond No. 3s95453300 (Hereinafter, The "Auctioneer" Or "Goldberg").
The Terms And Conditions Of Sale, The Glossary, If Any, And All Other Contents Of This Catalog Are Subject To Amendment By Us By The Posting Of Notices Or By Oral Announcements Made During The Sale.
By Participating In Any Sale, You Acknowledge That You Are Bound By These Terms And Conditions.
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18. LOTS MUST BE PAID WITHIN 14 DAYS FROM SALE. Unless otherwise agreed in writing, auction sales are strictly cash above $5,000.00 in U.S. Funds payable through a bank in the United States. Contact Goldberg for wiring instructions before sending a wire (Western Union Bidpay). Goldberg reserves the right to decline to release lots for which funds have not yet cleared. Credit card (Visa & Mastercard only) purchases will be accepted on totals not exceeding $5,000. On any cash transaction or series of transaction exceeding $10,000, Treasury Form 8300 may be filed.
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21. By bidding in this sale, Purchaser personally and unconditionally guarantees payment. If the Purchaser is a corporation, the officers, directors, and principals of the corporation hereby agree to personally and unconditionally guarantee payment as part of the corporation's agreement to bid. The authorized representative of any corporate Purchaser who is present at the sale shall provide Goldberg or its agent, prior to the commencement of the bidding (or at the time of registration), with a statement signed by each principal, director and officer that they each personally and unconditionally guarantee any payment due Goldberg.
22. No bids will be accepted from Floor Bidders and Mail Bidders who have not previously established credit with Goldberg unless they first (i) furnish satisfactory credit references or (ii) deposit at least twenty-five percent (25%) of their total bids for that session(s), or such other amounts as Goldberg may require, in its sole and absolute discretion. Any deposits made pursuant to this paragraph will be applied to such Bidders purchases. Any unused portion of such deposit will be promptly refunded upon clearance of the funds.
23. On any accounts past due, Goldberg reserves the right to extend credit and impose periodic charges, pursuant to these Terms and Conditions of Sale or as set forth in the Purchaser's invoice. If the auction invoice is not paid in full when due, the unpaid balance will earn interest at the rate of one-and-one-half percent (1½%) per month until paid. In the event this interest rate exceeds the interest permitted by law, the same shall be adjusted to the maximum rate permitted by law. Goldberg further reserves the right to resell the merchandise, or to have an affiliated or related company do so. Purchaser agrees to pay all reasonable attorneys' fees, court costs and other collection costs incurred by Goldberg or any affiliated or related company to collect past due invoices, including reasonable costs of any resale of the merchandise. Purchaser also agrees to pay the difference between the resale price and any previous disbursements. Money realized from the resale shall be applied as follows: (i) to pay sums due to the consignor, (ii) to pay Goldberg standard commission and fees for the resale, (iii) to pay Goldberg any sums owed to it by purchaser, and the remainder, if any, will be paid to the Purchaser. Goldberg reserves the right to assign its interest to any third party.
24. Goldberg may at its sole and absolute discretion, make loans or advances to Consignors and/or prospective Purchasers.
25. The Auctioneer may bid for his or its own account at any auction (even though it may not be required to pay a Buyer's Commission, or other charges that other Purchasers may be required to pay) and may have access to information concerning the lots and items contained therein that is not otherwise available to the public. Any conflict of interest or claim of competitive advantage resulting therefrom is expressly waived by all participants in the sale.
26. If a dispute arises concerning ownership of a lot that has been bid upon, Goldberg reserves the right to commence a statutory interpleader proceeding at the expense of the Consignor and successful Purchaser and any other applicable party, and in such event Goldbergs shall be entitled to its reasonable attorney's fees and costs.
27. In the event of a successful challenge to the title to any goods purchased, Goldberg agrees to reimburse any Purchaser in an amount equal to the successful bid price actually paid by Purchaser at auction plus any Buyer's Commission actually paid, in full and complete satisfaction of all claims, such reimbursement once tendered by Goldberg, relieves and releases Goldberg from any responsibility whatsoever to the Purchaser, even if the instrument is not cashed or is returned.
28. Goldberg reserves the right to post-pone the auction sale or any session thereof for a reasonable period of time for any reason whatsoever, and no Bidder or prospective Bidder shall have any claim as a result thereof, including consequential damages.
Disclaimers And Warranties
All Items Offered In This Catalogue Are Guaranteed To Be Genuine.
This Is A Limited Warranty That The Item Sold Is Not Counterfeit, That Its Date Or Mintmark Has Not Been Altered And That The Coin Has Not Been "Repaired."
29. Any other warranty is expressly disclaimed; Goldberg offers no representation that a numismatic item has or has not been cleaned; that any toning is natural or artificial; that any coin will meet the standards or grade of any independent grading service; that any item has a particular provenance or pedigree, or that a numismatic item is struck or produced in a particular style. Any statement concerning such matters reflects an opinion only. Questions regarding the minting of a coin as a proof or as a business strike relate to the method of manufacture and not to authenticity.
a. The descriptions contained herein represent the Cataloger's good faith opinion, or the opinion of an independent grading service, as to the state of preservation and strike. When a grade from an independent grading service is utilized, the information is provided strictly for the convenience of the bidder by mail, telephone or facsimile. Bidders and Purchasers acknowledge that (i) grading is an art, not a science; (ii) the grades contained in the catalogue represent the opinion of the Auctioneer based upon its experience; (iii) it is possible that two people will not always grade the same items alike; and (iv) as market conditions change, grading standards change, and will most likely continue to do so in the future.
NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY, IS MADE WITH RESPECT TO ANY GRADE DESCRIPTION, WHICH IS MERELY AN OPINION THAT IS LIKELY TO DIFFER, EVEN AMONG EXPERTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING OF A LOT BY AN INDEPENDENT GRADING SERVICE.
b. Grading or condition of rare coins may have a material effect on the value of the item(s) purchased; and the opinion of third parties (including independent grading services) may differ from the independent grading service's opinion or interpretation of Goldberg. Goldberg shall not be bound by any prior or subsequent opinion, determination or certification by any independent grading service.
c. All oral and written statements made by Goldberg and its employees (including affiliated and related companies) are statements of opinion only, and are not warranties or representations of any kind, unless stated as a specific written warranty, and no employee or agent of Goldberg has authority to vary or alter these Terms and Conditions of Sale. Any alteration shall be effective only if in writing and signed by an officer of Goldberg authorized to do so.
d. Bidders shall have no recourse against the Consignor for any reason whatsoever.
e. Notwithstanding anything to the contrary in these Terms and Conditions of Sale,
COINS & CURRENCY LISTED IN THIS CATALOGUE GRADED BY PCGS, NGC, ICG, SEGS, ACCUGRADE, PCI, NTC, CGA, PMG OR ANACS CACHET MAY NOT BE RETURNED FOR ANY REASON WHATSOEVER.
30. By bidding in the sale, (whether in person, by mail, telephone or facsimile, or through an agent), Bidder expressly consents to the following
Waiver and Releases:
Purchaser, for himself, his heirs, agents, successors and assigns, generally and specifically waives and releases, and forever discharges Goldberg, and its respective affiliates, parents, shareholders, agents, subsidiaries, employees, members of their respective boards of directors, and each of them, and their respective successors and assigns from any and all claims, rights, demands and causes of action and suites, of whatever kind or nature, whether in law or equity, whether known or unknown, suspected or unsuspected, which Purchaser may claim to have with respect to and/or arising out of, or in connection with any challenge to the title to any good purchased, the sale itself and/or the auction, except for reimbursement in the amount equal to any bid actually paid by Purchaser, plus any Buyer's Commission actually paid by Purchaser where such reimbursement is authorized in these Terms and Conditions of Sale. It is the intention of Purchaser that this waiver and release shall be effective as a bar to each and every claim, demand, cause of action and suit that may arise hereunder, and Purchaser hereby knowingly and voluntarily waives any and all rights and benefits otherwise conferred upon him by the provisions of the California Civil Code, which reads in full as follows:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR."
31. Neither Goldberg nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms and Conditions of Sale of the auction or the conduct thereof and in no event shall liability for any such failure exceed the purchase price paid.
32. The sole remedy that any Purchaser in the auction shall have, whether such Purchase is bidding in person, by mail, by facsimile, by telephone, or through an employee or agent, for any claim or controversy arising out of the auction shall be a refund of the original purchase price and premium paid, if any.
33. Upon payment of any disputed sum, which in no event shall be greater than the original purchase price actually paid by Purchaser plus any commission or premium actually paid by Purchaser to Goldberg, Auctioneer and its employees shall be deemed released from any and all claims of the Bidder arising out of or in connection with the sale of such property. Purchaser agrees to execute prior to delivery of any refund, any documents reasonably requested to effect the intent of this paragraph. Should the Purchaser decline to do so, Purchaser hereby grants to Goldberg a limited power of attorney to unconditionally effect such release.
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35. If the Purchaser fails to comply with one or more of these Terms and Conditions of Sale, then in addition to all other remedies which it may have at law or in equity, Goldberg may at its sole option, either (a) cancel the sale, retaining all payments made by Purchaser as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, or (b) sell some or all of the property and (some or all other property of the Purchaser held by Goldberg, if Goldberg deems necessary), in a quantity sufficient in the opinion of Goldberg to satisfy the indebtedness, plus all accrued charges. More than one such sale may take place at the option of Goldberg. Such sale may take place without notice to Purchaser. If Goldberg gives notice, it shall be by U.S.P.S. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other address known to Goldberg. Such sale will be at Goldberg standard commission rates at public or private sale, within California, or at another location outside of California to be determined by Goldberg. At the time of sale the defaulting party shall not bid nor be permitted to bid. The proceeds shall be applied first to the satisfaction of any damages occasioned by Purchaser's breach, and then to the payment of any other indebtedness owing to Goldberg, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys' fees and costs, collection agency fees and costs and any other costs or expenses incurred thereunder. If a lot or item is not paid for, and is sold by Goldberg for Purchaser's account, in accordance with the Uniform Commercial Code, Goldberg shall not be required to account to the Purchaser for any excess proceeds. Purchaser shall remain liable to Goldberg if the proceeds of such sale or sales is insufficient to cover the indebtedness. If other property of Purchaser is also sold, any excess of proceeds will be remitted to the Purchaser after first deducting the expenses set forth above. If Purchaser fails to remit sums due to Goldberg, Purchaser grants to Goldberg a lien with respect to such sum, with interest to accrue thereon at the legal rate, until actually paid, which lien shall apply against any property of Purchaser, including any future goods of Purchaser coming into possession of Goldberg. To the extent permitted by law, Purchaser hereby waives all the requirements of notice, advertisement and disposition of proceeds required by law.
36. These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the State of California, whether or not the auction is and these Terms and Conditions of Sale are fully performed in California.
37. Purchaser acknowledges and agrees that the competent courts of the State of California shall have exclusive jurisdiction over any dispute(s) arising hereunder, and Purchaser hereby agrees that any dispute arising hereunder shall be litigated exclusively in the courts of the State of California, and not elsewhere, regardless of any party's current or future residence or domicile. Purchaser further agrees that venue shall be in the Superior Court of Los Angeles, in the State of California.
38. ATTORNEY FEES AND COSTS. The Bidder/Purchaser shall pay to Goldberg all costs and expenses of collection of amounts due herein, or to otherwise enforce any or all provisions of these Terms and Conditions of Sale, the subject matter of these Terms and Conditions of Sale, or any other agreement entered into with Goldberg, including but not limited to, reasonable attorney fees and costs incurred before legal action, if any, is commenced. The Bidder/Purchaser further agrees that in any litigation or other proceeding based upon, arising out of or related to these Terms and Conditions of Sale, the Bidder/Purchaser shall pay to Goldberg its attorney fees and other expenses and costs incurred in connection with the litigation or other proceeding if Goldberg is the prevailing party.
39. If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way. AS STATED IN THE TERMS AND CONDITIONS OF SALE Certain lots may be reserved by the Consignor. If the Auctioneer identifies a Consignor bidding on his own property, an announcement will be made that the Consignor is now bidding. If the Consignor places a bid in the mail bid book and is successful, the Auctioneer will announce that the lot has been passed.
40. These Terms and Conditions contain the entire agreement and understanding between Goldberg and Bidder concerning the auction and any items bid on or purchased at the auction. Bidder acknowledges that Goldberg has not made any promises, representations or warrantee to bidder, not contained herein concerning the auction and any items bid on or purchased at the auction.