Prototype of 1st US dollar coins auctioned for $840k

Interesting that there was a *copper* prototype of a dollar coin.

https://apnews.com/article/oddities-lifestyle-business-sports-22b63923d435c4ded5f15574b856a2ad

 

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Excellent article . Thanks for sharing !

 

Interesting story. I wonder how you would grade a coin like that...what's wear or damage as opposed to the flaws one could expect on a coin struck under such crude circumstances.

Bruce

 

VF-30, 41 minting errors including soft rev. strike.

 

Interesting read, thanks for the post.

 

Sounds about right, Robert. Quite a challenge to grade a coin like that.

Bruce

 

In all seriousness, you would absolutely need the coin in hand to make any reasonable determination.

 

I had never seen really detailed pictures of this piece before and did not know that it was corroded. I did not know that it was found on the site of the first mint in the mid 1870s. I suppose the net grade of VF-30 is correct, but since it's unique, it really does not matter. It is an interesting piece of history.

I don't know that the word "prototype" really applies. It's a pattern coin that was probably struck to see of the largest press the mint had at the end of 1794 could strike a dollar sized coin.

As It turned out, it could barely do it. Dollar production was suspended until a larger press could be obtained circa June 1795.