$1 1799 PCGS MS64+ FLANNGAN

Legend Numismatics purchased this incredible Bust Dollar for $141,000.00 right out of our Regency 32 sale. We do not understand why such a powerful Bust Dollar is not worth $175-$200,000.00. You will find beat up MS62’s, and occasional MS63 but never anything 64 or higher. We think this coin is a crazy awesome addition to any GEM Type or Bust Dollar sets. Its even a coin we’d tall any investors to buy!  Here is the description from the sale:

Ex Flannagan Collection, as noted on the PCGS insert. B-12b, BB-160. This beautiful, essentially GEM 1799 is among the very FINEST of the variety known. An old friend, as it was once part of Phil Flannagan’s collection of early dollars that our founder, Laura Sperber helped build. It is truly one of the most beautiful Bust dollars Legend Rare Coin Auctions has ever had the honor of offering.

Sharply struck devices stand out with a lovely frosty texture, which contrasts nicely against the satiny, almost semi-reflective, lustrous fields. Beneath a moderate dusting of gold that blends to blue and coppery-amber at the rims, the surfaces are essentially flawless. A powerful glass fails to uncover anything but the most insignificant trace tick or line, all ancient and mostly hidden within the original patina. Every detail is crisply rendered by a powerful blow from the screw press. Liberty’s curled strands of hair show full separation, and there is just the barest trace of weakness at her shoulder. The reverse is fully struck up, with every feather, every shield line, every vein in the leaves brought out to its full glory. Both sides are well centered on the board planchet, and the dentils are full on both sides. We note (mostly hidden by the PCGS holder) a small flaw in at the rim between the B and R of LIBERTY. That and the wonderfully original coloration will always serve to identify this as the Flannagan coin.

This is one of just two varieties where the olive branch has no berries, making it popular among collectors. Struck from Die State III, which shows several prominent die cracks around the date, one that curves up through Liberty’s drapery and one that curves up toward the inner point of star 1. The obverse surfaces show a “pebbly” texture typical for the variety, and this is seen in parts of the fields, and in the details, like Liberty’s hairlines. This variety is not rare in an absolute sense, with Dave Bowers estimating between 650 and 1,150 surviving in all grades, most of these XF or lower. In AU and lower Mint State it is RARE, and extremely rare in such a lofty grade. This is the second coin in Dave Bower’s updated list of Notable Specimens in the 2013 revision of the early dollar encyclopedia, listed as ex: Heritage’s 1995 ANA auction, lot 6520; Philip Flannagan Collection, Bowers and Merena, November 2001, lot 4257; Jack Lee Collection III, Heritage, November 2005, lot 2192; Joseph C. Thomas Collection, Heritage, April 2009, lot 2552; intermediaries; our present consignor. Only a single example, which looking at old catalogs is hard to determine if it is a different coin (the toning pattern is similar) is the Waldo Newcomer; Col. E.H.R. Green; T. James Clark, Jascha Heifetz coin that last sold in Superior’s July 1993 auction as an NGC MS65.

PCGS 11, NGC 13, CAC 4. PCGS has graded 3 in MS64+. As a non-CAC PCGS MS64, this coin sold a decade ago (2011 is when we placed it) for $103,500. None of the MS64+s have ever sold in auction. The current Collector’s Universe value is listed at $125,000 and this one is certainly much more pleasing to the eye than the mottled Cardinal MS65 (NO CAC) that sold in the 2015 ANA auction for $123,375. This stunning coin will elevate any dollar type set or date run of early dollars to a world class status. We can see this GEM selling for a very strong price.

Once this coin is sold, good luck finding anything remotely close! We just love this coin to death and want it to go to a good home-not a coin doc who was chasing it.

We do not understand why this magnificent piece is still in our inventory. While recently witnessing a commoner Merc Dime in high grade sell for over $300,000.00 and  a $1 1927D PCGS MS66+ sell for $150,000.00, a great coin like this languishes. The pops have changed for so many other coins while this has not. We will take a GEM 220 year old coin similar in price vs a Peace Dollar or Merc any day!  You should too!