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 Replies: 21 / Views: 2,109 |
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Bedrock of the Community
United States
11917 Posts |
You can tell that this is one of the 4 proof specimens. Looks like the Bollander-8 Norweb specimen, but the hair on the Norweb is sharper. The proofs have the "2" with the scroll pointing up. The business strikes do not. The 1802 Proof Restrike Draped Bust Silver Dollar is one of the rarest of all US coins with only 4 known to exist. It is one of the rare 1801-1804 silver dollar restrikes - even rarer than the 1804 dollars (except for the unique Class 2 1804 restrike). This coin was produced sometime between the late 1830s and 1860s as a proof restrike intended for prominent collectors. Each one is worth close to $1 million! IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
01/27/2017 10:20 pm
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Pillar of the Community
Canada
4911 Posts |
I'm flabbergasted that my guess was correct  i could tell this was no regular coin, but I figured (with no knowledge on this series mind you) that my guess would be far fetched! Feel free to call me Will.
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Valued Member
United States
123 Posts |
Such a great looking coin!
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Rest in Peace
United States
4078 Posts |
What are the symbols on the reverse under STATES OF?
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Pillar of the Community
United States
6370 Posts |
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CCF Advertiser
United States
1533 Posts |
Clouds.
The first thing you see is that the coins was clearly struck in a collar, so is one of te Novodel proofs. It is really hard to grade proofs from photos as you can't see the hairlines, but PF-64 is a good guess. Its a $1MM or so coin.
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Bedrock of the Community
United States
36905 Posts |
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Rest in Peace
United States
4078 Posts |
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
United States
1499 Posts |
If the color and surfaces showing in the picture are accurate, I'm not a fan. I pulled out my Bowers silver dollar book, and yes it is an 1802 novodel dollar, but it looks like it was the victim of one those 19th or 20th "museum cleanings." In other words a curator who didn't know what he was doing took the tarnish and the original surfaces off of it. It's got hairlines and that odd steely look that I find unattractive for old silver.
My grade would be PR-55, improperly cleaned, but I'm sure PCGS was much more generous. I'm guessing PR-63 or even 64 if they were trying to please a client.
Aside from the what this is worth, I'd rather have my originally struck 1802 in AU-58 as a collector. That's not sour grapes; it's just that I don't care for coins that look like this. I'm also not fan of the "novodel" concept, which is a "restrike" made from new dies. Some big shot collectors seem to agree with me since the more recent auction results for the 1804 "restrike" dollars have not been that impressive
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Bedrock of the Community
United States
94367 Posts |
Well said as always.  |
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Bedrock of the Community
United States
11917 Posts |
There is one PF65 1802 restrike and three graded PF64.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Valued Member
 United States
288 Posts |
I appreciate what you said Bill. I tend to agree with the cleaning without revealing the final grade. So what I understand is that if a big time dealer submits a large cache of coins to be graded, the grading companies might let imperfections, cleanings etc slide simply to keep a big customer happy. While I'm not doubting what you say, as a new collector, this seems very discouraging.
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Pillar of the Community
United States
1499 Posts |
Another reason why the grading services let a coin like this slide is because of its fame and rarity. This is a coin that has a long history with a list of distinguished owners. Quite often the grading services will ignore cleaning and other defects.
There is also a chance that the photos are making the coin look worse than it is. I know that can happen from my own experience. I have taken pictures that made the same coin look nice and look awful. I try to make my photos look like the coin looks "in hand." I don't think that it's fair to make a coin look better than it is or worse than it is.
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Valued Member
United States
288 Posts |
Here it is. Thanks to all that responded! I learned something from this.  |
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Posted 01/27/2017 10:56 pm
