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Lot 3036

Image Information

Type Coin
Title Lot 3036
Date 1776
Side reverse
Grade 50
Service NGC
Service Catalog # 792
Denomination $1
Description 1776 $1 Continental Dollar, CURENCY, Dotted Rings, Brass AU50 NGC. Newman 1-A, Breen-1085, W-8430, R.8. Ex: "Col." E.H.R. Green. 250.8 grains, 79% copper, 18% zinc, 1% lead per NGC metallurgical tests. The remaining 2% is likely attributed to rounding, or to trace elements, or perhaps both. The Dotted Rings variety was the first produced Continental dollar, coined before the die was modified to partially connect the dots, as seen in the next lot. A small die defect inside the Pennsylvania ring is evident on this variety, and is advanced on the next example. This piece from the Eric P. Newman Numismatic Education Society features an attractive blend of pale yellow, orange, and mahogany, with minor verdigris on each side. The surfaces are generally pleasing with no edge bruises or other defects. This variety is extremely rare, despite a comment in the Whitman Encyclopedia of Colonial and Early American Coins that 12 to 15 examples are known. Q. David Bowers attributed that erroneous estimate to Michael Hodder. This variety was absent from most of the important colonial collections of recent times. There was not a single one in Garrett, Roper, Taylor, or even Ford. That absence clearly confirms the extreme rarity of this variety, and is not commensurate with a High R.6 variety. The true population is likely three examples as reported in the March 1988 Norweb catalog, where the three examples were identified as the Norweb coin, an example in the Newman Collection (this piece), and one that appeared in the Brand Collection, Part II. In his Complete Encyclopedia of U.S. and Colonial Coins, Walter Breen overlooked the Norweb coin that was sold the same year as his reference was published, stating that only two were known. {blockquote}Census of known examples 1. AU. Spink & Son, London (11/1910); Virgil M. Brand; Brand Estate (Bowers and Merena, 6/1984), lot 955. This example would likely grade Mint State today. Erroneously said to be plated in the Newman monograph. 2. AU50 NGC. The present specimen from the "Colonel" Green Estate. 3. VF. Virgil M. Brand Collection; Brand Estate; B. Max Mehl (1/11/1937); Norweb Collection (Bowers and Merena, 3/1988), lot 2450. Sharpness finer with many old reverse scratches.{/blockquote} One of the three was mentioned in Crosby: "A specimen in the cabinet of Mr. Brevoort, struck in brass, (size 23,) has the same reverse with that just described, but the rings upon the obverse are beaded, instead of plain as in all the others." The reverse of this example is plated in Newman's 1952 article, "The 1776 Continental Currency Coinage," published in Wayte Raymond's Coin Collector's Journal, July-August 1952, and reprinted in the present catalog. Discussing this variety, Newman noted: {blockquote}"The first obverse die (obverse 1) omits one of the R's in CURENCY. This appears to have resulted from inexperience in spacing letters rather than misspelling, just as the first reverse die (Reverse A) has a diminutive N in AMERICAN CONGRESS, the diemaker failing to leave sufficient room for the uniform size letter N. "Reverse A also has another error in that the names of the states should have been placed on the links clockwise in geographical order from north to south as on the fractional Continental Currency issues, but N.HAMPS is clockwise of MASSACHS. "Reverse A has its links composed of dots. Apparently two trial pieces were prepared in brass (1-A) and it was determined that the links should be made of lines by recutting the same die."{/blockquote} The opportunity to acquire the second finest of just three known examples of the brass 1776 Newman 1-A Beaded Rings Continental dollar should be considered carefully. To the best of our knowledge, this is only the third auction appearance of this variety in numismatic history. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $400.00; Eric P. Newman Numismatic Education Society. Realized $282000.00. Description courtesy of Heritage Auctions.

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