Photos and descriptions used with permission and courtesy of Heritage Auction Galleries

The 1858 Seated dollar is the most famous proof of the series due to its status as the only “proof-only” date issued from 1840 to 1873. It is also one of the least understood coins among all American numismatic treasures from a mintage estimated at about 80-300 coins. Only one finer example of the date has been certified by NGC.

Numismatist Duncan Lee, a well-known specialist in the Seated coinage arena, compiled a brief study of proof Seated dollar rarity, published in the August 2006 “Monthly Supplement” of the Coin Dealer Newsletter. A two page study, Lee provides excellent information.

For 1858, he writes: “The 1858 is the only Proof-only date in the Liberty Seated silver dollar series. All known survivors were struck from one obverse die paired with at least two reverse dies, one being the same reverse die used for some 1856 and 1857 proofs …. Several others were made with the reverse die which was used to produce some 1859 proofs.”

A particular challenge in the study of early proof coins is determining what information is valid and what is not. In his Proof Encyclopedia, Walter Breen described two different reverse dies. Unfortunately, this single example has certain characteristics of both dies!

For the second reverse, Breen recorded that the “claws touch, two lower arrowheads touch shafts; often, depressed mark (from foreign matter on die) in field near beak.” The Kaufman collection coinshown above clearly has the shallow depression near the beak, but has the claws separated and the two lower arrowheads not near the shafts above. It also has a straight die line in the narrow space over ITE of UNITED, and this die line is identical to that appearing on the 1856 proof dollar in this collection.

Die notes for the proof dollars are in need of substantial overhauling, as different authors use different notations with little consistency. In addition to revamping the die notes, considerable study is still needed to make accurate mintage determinations.

Sold on August 8, 2007 at the Heritage Milwaukee (ANA) Sale #444 for $54,625.00
Specifications:

Designer: Christian Gobrecht
Mintage: Estimated 300
Denomintion: $1.00
Diameter:  ± 38.1 millimeters
Metal content: Silver – 90% Copper – 10%
Weight: ± 26.73 grams
Varieties: Reeded

Additional Resources :
Ex Kaufman Collection

Last Updated : 05/15/2008

Photos and descriptions used with permission and courtesy of Heritage Auction Galleries

One of Only Two Pieces Known

The special nature of this coin has been recognized since at least 1941 when it appeared in Mehl’s Dunham Sale. It has passed from one specialist to another since then, always remaining in strong hands and rarely offered to the numismatic market. The obvious reason for striking this piece, as well as the other known branch mint proof, was “resumption of coinage of this denomination at New Orleans (interrupted 1860),” as stated in Breen (1977).

It is always interesting to compare and contrast branch mint proofs with those produced in Philadelphia. It appears that employees in the branch mints were not familiar with the day-to-day striking of proofs. Rather, when called upon to strike such coins, they produced pieces that they thought resembled the proofs that were regularly turned out of the mother mint in Philadelphia. And in most cases, they did an admirable job of emulating Philadelphia proofs.

For example, the fields on this piece have a depth of reflectivity that one would never find on a coin struck for circulation. Based on this mirror-like effect alone, its status is obvious. Of course, the specimen status goes beyond mere reflectivity. The surfaces are unusually clean, indicative of a coin that was carefully handled and not mixed in with pieces intended for circulation.

It is interesting to note the differences between this New Orleans specimen and a proof from Philadelphia. Most obvious are the striking details. Some of the feather details on the eagle and the star radials lack complete high point definition. Some P-mint proofs, especially from the 1880s, also lack full detailing and this is not an absolute necessity for proof status. On this coin it appears it was only struck once. Perhaps New Orleans personnel were not familiar with the tradition of double striking proofs?

It is also interesting to note that a scribe line is clearly evident just outside the denticles on each side. Indeed, die polishing goes up to the line on the obverse but not beyond. On the reverse much of the line is still evident and it has only been polished away between 1 and 3 o’clock. On Philadelphia proofs, part of the scribe line can still be seen on some issues, but die polishing was generally done carefully enough to either show the curve of each denticle or many times the individual denticles are fully outlined all the way to the rim. These are slight differences in the nature of branch mint proofs and Philadelphia proofs, and these differences can easily be explained by the quantities of proofs or specimens produced in each mint–one need not be quite as careful about the fine points if only two pieces are to be produced vs. the hundreds of pieces struck across all denominations in the Philadelphia facility. But the texture of this coin gives clear indication of the intent to produce a special coin most likely for presentation purposes.
The roster is brief for 1891-O specimen quarters as only two are known:

1. The present coin. Ex: William Forrester Dunham (B. Max Mehl FPL, 6/1941); Gene Edwards; 1980 ANA Sale (Steve Ivy, 8/1980), lot 2024; Jascha Heifetz Collection (Superior, 10/1989), lot 3652.
2. Private collection, ca. 1968; Ahwash Collection; current whereabouts unknown.