Traditionally,
the inaugural issue of each series elicits excitement from the public resulting
in enthusiastic hoarding of the new design. While this practice was most
prominently exhibited at 20th century debuts like the 1909 V.D.B. Lincoln cent
and the 1913 Type I Buffalo nickel, most classic issues were also subject to
this stockpiling to some extent.
The
introduction of Christian Gobrecht’s Liberty Seated design on dollars in 1836
caused considerable fervor among the few collectors in America at the time. A
similar excitement was enjoyed by lesser denominations sporting the Liberty
Seated design over the following years, though the dollars introduced the next
decade seemed to have fallen flat.
Despite
its status as a first-year issue, the 1840 Liberty Seated dollar garnered very
little attention from the public upon release. Bullion depositors paid little interest to the
new denomination, which resulted in a mintage figure of only 61,005 coins for
the year, compared to the 1.4 million half dollars struck during the same
period. The issue was entirely overlooked
by collectors and few pieces were spared from circulation, resulting in a
population that is both scarce in an absolute sense and severely conditionally
challenged. Fewer than 50 pieces are
thought to survive in Mint State, none of which breach the Gem level of
preservation.
To
be featured in Rarities Night of our March 2017 Baltimore Auction is an MS-62 1840
Liberty Seated dollar that is surpassed by just 16 coins in PCGS holders, sitting
just two numeric points below the finest graded at MS-64. The patina of
lavender and apricot that blankets each side reveals teal and olive iridescence
at a tilt. Pearly luster blooms around the devices and within the intricacies,
mostly notably across Liberty’s drapery and the eagle’s wing feathers. Though a
glass will reveal trivial, scattered marks, the surfaces are surprisingly nice
to the naked eye. Aesthetically and technically superior, this piece is a true
delight to see.
This
Mint State jewel will be featured among numerous world-class rarities in our
March 2017 Official Auction of the Whitman Coin & Collectibles Expo. To
consign your collection to this exciting showcase event, please contact our
offices today at 1-800-458-4646 to speak with a Consignment Director and see
what Stack’s Bowers Galleries can do for you.
