1776 $1 Continental Currency EG FECIT, Pewter MS(PCGS#795)

The Regency Auction 50

拍卖行

Legend Rare Coin Auctions

批号

1

等级

MS64

价格

935,223

详细说明

Ex Buss Collection, as noted on the insert. One of the classics of American numismatics, the Continental "Dollar" has been a centerpiece coin that has been popular and in strong demand from the earliest days of the hobby. Any Mint State example is VERY RARE, and a near GEM as offered here is a trophy that eludes the majority of collectors. Ranked as #10 in Jeff Garrett and Ron Guth's 100 Greatest U.S. Coins, Fourth Edition. Newman D-3, W-8460, the EG FECIT type, struck in Pewter is a Rarity-4 die pairing. This essentially GEM quality example has a rich, original pewter-gray coloration over semi-reflective, flashy luster. The striking definition is quite sharp with bold, crisp reliefs on both sides. The reverse is rotated 90 degrees, and shows die cracks among the links on the chain on the reverse. There are a few minor tics seen, which is common on this soft planchet, but there are no signs of cleaning, environmental damage, or other issues that are common enough on these large and popular coins. Traditionally considered an official coin struck at the behest of the Continental Congress, in recent years, the origin story hotly debated. The traditional explanation, put forward by noted numismatic scholar Eric P. Newman was that the Continental dollars were struck in 1776 in New York or Pennsylvania, and that EG stood for Elisha Gallaudet, an engraver in New York. The motifs on both sides were similar to officially sanctioned currency notes issued by the Congress, again supported the theory these were struck in the colonies. However, no mention of the silver, brass, or pewter coins were ever mentioned in the volumes of records, copiously kept and preserved from the Continental Congress. Recent research conducted by Erik Goldstein, the curator of mechanical arts and numismatics at Colonial Williamsburg and David McCarthy have revealed that in all likelihood, these were struck in Europe at the end of the war as a commemorative for sale to collectors. They note the first published references to them were in German publications, appearing not in 1776 but in 1783. Regardless of their origin, they have always been a popular type coin, often collected as part of a silver dollar type set or collection of colonial era coins. Ex. Larry Miller Collection, Stack's Bowers, December 2020, lot 1001; earlier ex Dr. Jerry Buss Collection, Superior, January 1985, lot 4. PCGS 12, NGC 2, CAC 4. The most recent PCGS MS64 to sell in auction was not CAC and sold for $150,000 in October 2021. While there are a handful graded finer, nothing finer in a PCGS holder has sold since the weaker market of 2016. This beauty will entice very strong bidding activity when the hammer falls. Bound for a WORLD CLASS cabinet of American Numismatic classics. A fabulous example and one that will be highly prized by its next owner! Good luck! Cert. Number 10840617 PCGS # 795