1840 Liberty Seated Silver Dollar. MS-62 (NGC).，Prooflike surfaces and an impressive provenance combine to make this one of the most desirable examples of this underrated issue that we have ever offered. This coin is an "old friend," so to speak, having first passed through our hands as part of the fabulous Norweb Collection. Offered as lot 3778 in our (Bowers and Merenas) November 1988 sale of Part III of that collection, this coin was cataloged as a possible Proof therein. While we noted the reflective finish on both sides, including within the recessed areas of the reverse shield, lack of full striking detail to some of the obverse stars kept us from describing this coin as an unequivocal Proof. With a grade of MS-62 NGC obviously concluded that this coin is a circulation strike and not a Proof. Although we concur with NGCs assessment of this coin, our conclusion as presented in the November 1988 Norweb Collection catalog is still applicable:<p><em>"However, without question this coin is a very special production, created from highly polished dies. As 1840 was the first year of production of the regular Liberty Seated coinage, this may have been made for presentation or Assay Commission purposes."</em><p>Mottled steel gray and antique gold patina drifts over surfaces that are fully struck over all but a few isolated features around the obverse periphery, as noted above. An intriguing piece that belongs in an advanced collection of silver dollars or Liberty Seated coinage.<p>The 1840 is the first silver dollar produced in quantity since 1804 (the coins struck in that year being from 1802- and 1803-dated dies). By modern Mint standards the mintage is extremely small, however, totaling just 61,005 pieces. Unlike many first year issues in U.S. numismatics, the 1840 silver dollar was not widely saved by the contemporary public, and most of the coins saw considerable domestic circulation. The few Mint State examples known, as here, survived almost entirely as a matter of chance.，PCGS# 6926. NGC ID: 24YA.，NGC Census: 29; 9 finer (MS-64 finest). We suspect that the number of grading events for this issue in NGC MS-62 is highly inflated by resubmissions.，From the Catherine Bullowa Moore Collection. Earlier from our (Bowers and Merenas) sale of the Norweb Collection, Part III, November 1988, lot 3778; David Lawrences sale of the Richmond Collection, Part II, November 2004, lot 1461; Heritages sale of the Jack Lee Collection, Part III, November 2005, lot 2207.
