1799 $1 Draped Bust Silver Dollar, BB-166 PCGS MS61
IN STOCK
SKU
27854902
Here’s a classic example from the early days of the U.S. Mint in Philadelphia. PCGS has graded 17 pieces as MS61 with 58 finer. Collectors Universe prices this issue at $32,500.00 in MS61. This specimen is the BB-166 variety of the 1799 dollar. There was a sole obverse die employed for the 1799s, seen here in its early die state. Perhaps this piece was among the first struck. Later on during production, it developed a network of die cracks in the right field in its final die state. The reverse features a short faux ‘apostrophe’ die lump after the second ‘S’ in ‘STATES’ and that die was used to strike BB-166 only.
The Empress of China, the first U.S. ship to engage in the China trade beginning in 1784. This ship and others brought the vast majority of 1799 (and other issues) of the Draped Bust dollars to the Celestial Empire to trade for tea and other goods. Source: Wikimedia.org
The mintage of the 1799 Draped Bust silver dollar was plentiful for its time: 423,515. However, the surviving total population is approximately 6,500. That is because a great majority of the Draped Bust dollars were shipped to the East to be part of the China trade. The dollars of 1799 were worth $1.03 when they were produced at the Philadelphia Mint, which made them excellent candidates for instruments of international trade. Such coins were rarely seen in American commerce. Those that survived were mostly stored in the First Bank of the United States.
The present examples was last seen for sale at public auction in January 2005 Heritage FUN Show as lot #30275 where it brought $26,450. See this link: 050112 HA:30275 1799 $1 BB-166
18 years ago, Heritage described this coin as:
1799 $1 MS60 PCGS. B-9, BB-166, Die State V. Approximately 1,000-1,800 examples of B-9 are believed extant, a total that makes this die variety the most common 1799 Silver Dollar along with B-10. Still, few Mint State coins are available to today's specialists, with Bowers listing the following specimens in his 1993 reference:
- Ivy Specimen (MS64);
- Saunders Specimen (MS64);
- Stack's Auction '90 Specimen (MS63);
- Ebsen Specimen (MS63);
- Baldenhofer Specimen (MS60-65);
- ANA Centennial Auction Specimen (MS60);
- Austin Specimen (MS60);
- Boyd Specimen (MS60);
- Davis Specimen (MS60);
- Elder Specimen (MS60);
- Gable Specimen (MS60);
- Holmes Specimen (MS60);
- Schuyler Specimen (MS60);
- Stack Specimen (MS60;
- Taylor Specimen (MS60).
We do not know whether the present specimen is one of those listed above, but we have no doubt that it is one of the finer examples of B-9 extant. A late die state, the obverse die is shattered and the diagnostic reverse "apostrophe" after the final S in STATES is extensive. Bowers estimates that 10-20% of the coins extant are of Die State V.
This is a moderately toned coin with steel-gray patina being accented with gold, particularly on the reverse. There are no mentionable abrasions (a curious feature for a coin at the MS60 grade level) and the surfaces exhibit a pleasing, satiny texture. Worth a close look and a premium bid.
| PCGS # | 6878 |
|---|---|
| Grading Service | PCGS |
| Year of Issue | 1799 |
| Grade | MS61 |
| Denom Type | Draped Bust Dollar |
| Numeric Denomination | $1 |
| Mint Location | Philadelphia |
| Designation | NONE |
| Circ/UnCirc | Uncirculated |
| Strike Type | Business |
| Grade Add On | NONE |
| Holder Type | N/A |
| Population | 17 |
| Pop Higher | 58 |
| Mintage | 423515 |
| Designer | Robert Scot |
| Edge Type | Lettered: HUNDRED CENTS ONE DOLLAR OR UNIT |
| Coin Weight | 27 |
| Metal Content | 90% Silver, 10% Copper |
