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1846-O $1 Liberty Seated Dollar #2

 
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 Posted 10/06/2021  5:46 pm Show Profile   Bookmark this topic Add numismatic student to your friends list Get a Link to this Message
$994. This is my second 1846-O Seated dollar. The first one I regretfully sold for almost twice what I paid for it 3 years earlier. I am always on the lookout for these and this one popped up. 59,000 coins were produced from only a single known pair of dies. Many are thought to have been melted. Always thought that the first branch Mint dollar was something special. Thoughts? Thanks!

Q. David Bowers: The following narrative, with minor editing, is from my "Silver Dollars & Trade dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993).

Coinage Context

New Orleans issue: After construction commencing in 1835 and the setting up of equipment in 1837, the New Orleans Mint opened for business in 1838. However, it struck no silver dollars until 1846. This was the first of only four dates of Liberty Seated dollars from this mint: 1846-O, 1850-O, 1859-O, and 1860-O.

Although some 1846-O dollars may have been exported, and most likely many were melted, many also circulated within the confines of the United States, probably in the Mississippi Valley.

The Assay Commission found that silver coins (of all denominations, taken as a class) from the New Orleans Mint produced in 1846 assayed a remarkably high. 9011 fine, which was above the legal standard (but still within the legal tolerance of .987 to .903); This was far out of the range of normal variation from the .900 standard, as reflected in Assay Commission reports.

Numismatic Information

Circulated grades: The 1846-O has always been relatively easy to find in circulated grades below Extremely Fine (but EF or better pieces are quite rare). I suspect that this issue circulated widely and saw use in the channels of commerce up and down the Mississippi River Valley, especially riverboats (which numbered in the hundreds) and casinos. Relatively few must have been melted or exported. As the first branch mint silver dollar and as an issue of the New Orleans Mint, the 1846-O has always occupied a place of affection in collectors' hearts.


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 Posted 10/06/2021  6:34 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Very choice-looking coin. I'll say EF-45.
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 Posted 10/06/2021  7:48 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Agreed, good looking example. Also at XF45.

Is the color accurate to the pics? Or are these sellers pics?
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 Posted 10/06/2021  8:11 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
These are seller's pics so I'll have to wait a few days to see what it looks like in hand.
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 Posted 10/06/2021  8:38 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
The no-motto reverses wear a little bit differently than the motto reverses. There ends to be slightly more wear on the eagle's head and neck than the motto coins. I think the obverse of your coin just makes AU-50, The reverse comes up just a little bit short. This is another classic example of why we need EF-48.

Since EF-48 doesn't (officially) exist yet, it defaults to EF-45.

My only concern is the scratch the runs from Liberty's chest, through her elbow, to the 12th star. The contact on the chest is fairly deep. I don't think it is enough to detail an EF, but it might just be enough to detail an AU.

The reverse is fantastic.

This is a really nice coin. I like the even wear, overall strike quality, and eye appeal. You are right, there aren't many of these above mid-grade. Nice one!
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 Posted 10/07/2021  10:57 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
might just squeeze by at XF45
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 Posted 10/07/2021  4:02 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Not choice, the scratch under the breast and through the elbow precludes that. That said: XF45.
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 Posted 10/13/2021  5:24 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
This came in. Further thoughts? Thanks!


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 Posted 10/13/2021  5:33 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The gouge/scratch is much more evident here. Really detracts, but it a tough date.
Edited by Coinfrog
10/13/2021 5:34 pm
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 Posted 10/13/2021  8:28 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply


I'm pausing now on whether this may get detailed. I didn't think so from the seller's photos, but the gouge on LIBERTY's chest seems fairly recent. It really does stand out.

I still think it's the future EF-48, but present day EF-45.
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 Posted 10/13/2021  8:46 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Color looks much better in your pics. I'll be the minority. Hit to the chest, surprisingly, doesn't bother me. I'll stay at XF45 straight.
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 Posted 10/13/2021  8:56 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Probably straight, but even scarce as it is, will never fetch full money for the grade.
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 Posted 10/13/2021  9:37 pm  Show Profile   Bookmark this reply Add Numis-Northerner to your friends list Get a Link to this Reply
EF-45.
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 Posted 10/13/2021  9:57 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Solid XF 45 . Greenbeanable, too! (If not already!)
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 Posted 10/13/2021  10:00 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Don't see a green bean on this one.
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 Posted 10/14/2021  10:12 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
ICG opined that it was AU50.

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