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First US Dollar Study and Collection

Category:  Series Sets
Owner:  OA Nentico
Last Modified:  4/5/2024
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Slot: US $1 Dollar Collection Study: First Issue of Liberty Head Type 1 Series.
Origin/Country: United States
Design Description: GOLD DOLLARS
Item Description: G$1 1849 O
Grade: NGC AU 58
Research: View Coin
Owner Comments
This first year $1 Gold Liberty Head (Type I) 1849-O NGC AU58 has an attractive pleasant bright yellow gold luster and a very strong strike! The obverse is nicely struck as expected and the reverse is a better than expected for this grade. Mintage of the New Orleans 1849-O is placed at 215,000, not rare, but well below the 1.3 million Philadelphia mintage.

For my U.S. Gold Type Set this $1 Gold 1849-O will represent my New Orleans specimen.

Per Jeff Garrett: "None of the Close Wreath dies were received in New Orleans in time for the coinage of 1849; thus, all known examples are of the Open Wreath variety. Most examples are well struck on the obverse but are usually weakly struck in the central portions of the reverse, sometimes very much so. This is one of the more readily available New Orleans issues but is still quite popular as a first year of issue. The 1849-O coin is not a great rarity in the lower states of preservation. Choice and Gem coins are, however, seldom seen and quite desirable. The finest graded example, an NGC MS 66 sold for $20,700 in August 2012."
Slot: #2 Gold Dollars: 2nd Gold Dollar Small Indian Head
Origin/Country: United States
Design Description: GOLD DOLLARS
Item Description: G$1 1854 TYPE 2
Grade: NGC AU 55
Research: View Coin
Owner Comments
This 1854 Small Head Type II gold dollar is a notoriously scarce type and the more challenging of the three different gold U.S. Dollar coins. The Type II was only struck for three years with the final year limited to the SF Mint. This first year 1854 Type II in AU55 is in the middle of the surveying graded population of approximately 6200 coins. With that said, this AU55 specimen with a CAC sticker is quit exquisite and attractive.
Slot: #3 Gold Dollars: 3rd Gold Dollar Large Indian
Origin/Country: United States
Design Description: GOLD DOLLARS
Item Description: G$1 1856 SLANTED 5
Grade: NGC AU 58
Research: View Coin
Owner Comments
This first year Type 3 – NGC $1 Gold Indian Princess 1856, Slanted 5 AU58 has a pleasant look with a nice strike on the obverse and reverse. It is a relatively common coin with a mintage of around 1.7 million.
Slot: #4 Classic Silver Dollar: Flowing Hair 1st Silver Dollar
Origin/Country: United States
Design Description: SILVER DOLLARS - FLOWING HAIR
Item Description: $1 1795 FLOWING HAIR
Grade: NGC VF Details
Research: View Coin
Owner Comments
This 1795 Flowing Hair NGC: Very Fine – Details is a wonderful example! I’ve looked at many 1795 dollars and I am very pleased with the strike and eye appeal of this coin.

The Flowing Hair Silver Dollar is first silver dollar of the United States. Thus, it is an iconic coin for any collector to have in their collection. The Flowing Hair was only minted in 1794 and 1795.

Designed and engraved by Robert Scot; the 1794 has a low mintage of about 2,000 coins. Per Q. David Bowers the survival population is estimated to be between 150 to 200 coins. Therefore, making it available to all but the wealthiest collectors.

Estimates by numismatists of the number of 1795 Flowing Hair Dollars coined range from 160,295 to as many as 290,000, depending on how one interprets the several deliveries made from coiner to treasurer. Again, per Q. David Bowers the survival population is estimated to be somewhere between 3,600 to 3,800 coins. Making still a rare coin by any standard.
Slot: #5 Classic Silver Dollar: 1st Draped Bust - Small Eagle
Origin/Country: United States
Design Description: SILVER DOLLARS - DRAPED BUST
Item Description: $1 1795 DRAPED SET LEFT BB-51,B-14
Grade: NGC F 12
Research: View Coin
Owner Comments
This 1795 Draped Bust – Set Left (BB-51, B-14) NGC Fine 12 is a wonderful strike for its grade. Very nice eye appeal with nice fields and details in the features.

The Draped Bust Dollar was introduced in 1795 to replace the Flowing Hair Dollar which was Henry William DeSaussure’s objective as the new Mint Director. Upon taking office his stated mission was to circulate gold coins and improve the designs of all denominations, specifically silver.

Estimates by Q. David Bowers puts places the minted for all varieties at around 100,000, with a survival rate of the BB-51 die state in a range of 1,400 to 2,200. Also, Bowers believes that the BB-51 is the earlier of the two 1795 Drape Bust varieties.
Slot: #6 Classic Silver Dollar: 1st Large Eagle Draped Bust
Origin/Country: United States
Design Description: SILVER DOLLARS - DRAPED BUST
Item Description: $1 1798 LARGE EAGLE
Grade: PCGS Genuine
Research: View Coin
Owner Comments
1798 Draped Bust Dollar: PCGS Fine Details – Cleaned Variety BB-116

This 1798 Fine Details coin has pleasant eye appeal with a nice light gray patina along with a reasonable strike for its grade. Although not a perfect coin, it was the first Early Dollar that I acquired for my collection. It was a big jump for me to spend a large sum of money on a coin. I think the coin is aesthetically pleasing, so it has a special place in my heart as it helped lead me to understand and acquire many better graded coins over time. Based on the market value of a straight grade coin, this affordable specimen fits well with my Early Dollar collection approach.

This 1798 specimen is the BB-116 variety based on Q. David Bowers’ reference book “The Encyclopedia of UNITED STATES SILVER DOLLARS 1794 to 1804”.

David Bowers’ estimates that the mintage of the 1798 is approximately ~200,000 with a survival rate of roughly 7,000 to 14,000 coins for all varieties. The BB-116 has an estimated survival rate of roughly 150 to 250 coins. When analyzing NGC and PCGS census reports each firm combined has graded about ~5,600 total coins, which supports Bowers low end estimate for total population.

*Sources for commentary: NGC and PCGS census reports and Q. David Bowers’ reference book “The Encyclopedia of UNITED STATES SILVER DOLLARS 1794 to 1804”.
Slot: #7 Classic Silver Dollar: 1st Seated Liberty - No Motto
Origin/Country: United States
Design Description: SILVER DOLLARS - SEATED LIBERTY, NO MOTTO
Item Description: $1 1840
Grade: NGC AU 50
Research: View Coin
Owner Comments
1840 $1 Liberty Seated Dollar – NGC AU50

The first year of any series is always special! In the case of the Liberty Seated Dollar it was the mints first true release of a silver dollar for circulation since the 1802 and 1803 Drape Bust Dollars. Unlike many other first release series, the 1840 Liberty Seated dollar had a modest mintage of 61,005 due to the on-demand production method.

This AU50 specimen in an older NGC holder has a pleasant bright white luster with moderate circulation marks along with fields that almost give a semi-proof like appearance for wonderful eye appeal.

The 1840 Seated dollar mintage has an estimated survival rate of 3%, with a population estimate of 1,250 to 1,750 per Osburn-Cushing. NGC has straight graded only 322 coins, with 20 in AU50 and 168 finer.

Adding this higher grade specimen to my U.S. Dollar Type Set and my Seated Liberty Type Set is a real home run for me! Its appearance fits amazing well with my Seated Type Set!
Slot: #8 Classic Silver Dollar: 1st seated Liberty with Motto
Origin/Country: United States
Design Description: SILVER DOLLARS - SEATED LIBERTY, NO MOTTO
Item Description: $1 1866 MOTTO
Grade: PCGS F Details
Research: View Coin
Owner Comments
Truly enjoyed adding this First Year with Motto issue 1866 Seated Liberty Dollar to my collection! It is neat to own a piece of history like this since it is one of the key dates to the series! It may not be the finest specimen, but it has a pleasant patina with a reasonable strike. Also, it meets my collection objective of obtaining the first coin in each U.S. Dollar series.

Per Q. David Bowers in his book “A Complete Encyclopedia SILVER DOLLARS & TRADE DOLLARS of the United States” the 1866 with Motto has a mintage of 48,900 with an estimated survival rate of less than 2%, which gives estimates ranging from 340 to 900.

NGC has graded a total of 144 in MS and 239 in Proof. While PCGS has graded 257 in MS and 345 in Proof. These numbers add up to 985 coins graded. One can guess that a number of these have been re-graded and/or crossed over, so they support Bowers estimates.

This coin is part of my Custom US Dollar Study Collection and Type Set as well.
Slot: #9 Classic silver Dollar: 1876 Trade with Chop Mark from China
Origin/Country: United States
Design Description: TRADE DOLLARS
Item Description: T$1 1876 S
Grade: NGC AU Details
Research: View Coin
Owner Comments
This 1876-S Trade Dollar was the first for my collection. The Trade Dollar was struck for circulation in 1873 to 1878 to compete with the Mexican dollar in the Orient. The 1876-S has a mintage of just over 5.2 million. Unsure of what the survival rate is. Since these coins were made for trade and circulation in the Orient, I wanted one for my collection that reflected this with what is known as a Chop Mark. This coin is part of my Custom Set: “First US Dollar Study and Collection” as well.
Slot: #10.1 Classic Silver Dollar: 1st Morgan Philly
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 8TF VAM-2
Grade: NGC MS 63
Research: View Coin
Slot: #10.2 Classic Silver Dollar: 1st Morgan Philly
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 7/8TF WEAK
Grade: NGC MS 63
Research: View Coin
Slot: #10.3 Classic Silver Dollar: 1st Morgan - Philly
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 7TF REV OF 78
Grade: NGC MS 60
Research: View Coin
Owner Comments
I am not a Morgan Dollar collector per say. Currently working on assembling a Custom Set: “First US Dollar Study and Collection”. In doing so I am trying to obtain a specimen from the first year of each dollar series. In 1878 there were six (6) specific Morgan coins released. This 1878-P 7TF Rev of 78 would be consider number 3 of 6 for the first year.
Slot: #10.4 Classic Silver Dollar: 1st Morgan - Philly
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 7TF REV OF 79
Grade: NGC MS 62
Research: View Coin
Slot: #10.5 Classic Silver Dollar: 1st Morgan - Carson City
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 CC
Grade: NGC MS 62
Research: View Coin
Owner Comments
I am not a Morgan Dollar collector per say. Currently working on assembling a Custom Dollar Type Set: “First US Dollar Study and Collection”. With this collection, I am trying to obtain a specimen from the first year of each dollar series. In 1878 there were six (6) specific Morgan coins released. The 1878-CC would be consider number 5 of 6 for the first year.
Slot: #10.6 Classic Silver Dollars: 1st Morgan S.F.
Origin/Country: United States
Design Description: SILVER DOLLARS - MORGAN LIBERTY HEAD
Item Description: $1 1878 S
Grade: NGC MS 63
Research: View Coin
Owner Comments
I am not a Morgan Dollar collector per say. Currently working on assembling a Custom Set: “First US Dollar Study and Collection”. In doing so I am trying to obtain a specimen from the first year of each dollar series. In 1878 there were six (6) specific Morgan coins released. This 1878-S would be consider number 6 of 6 for the first year.
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