A couple of weeks ago we presented an overview of the Linnemann Family Collection, one of the anchor consignments in the Whitman Coin & Collectibles Baltimore Expo auction this month. Our coin of the week this week is a beautiful 1846-O silver dollar that until recently was “raw,” residing in an old paper envelope and, upon consignment to our sale, submitted to PCGS, where it graded MS-64—tied for finest certified at that service. Our description notes: “rich swaths of toning on the obverse and reverse, with a firm foundation of gunmetal-blue which flashes with teal, yellow and lilac when examined under a light. There are deeper charcoal patches as well, mostly near the periphery of the obverse and reverse.” The strong strike adds to the overall high eye appeal of this condition census example.
The 1846-O is the first silver dollar issue from this southern branch mint with a mintage of 59,000 pieces. It is seen with some frequency in VF to AU grades, but in Mint State, it is quite scarce. Liberty Seated dollars have a strong following among collectors, and there are many specialized collections built over the years that lack anything better than an MS-63 piece.
We note that aside from the one other PCGS MS-64, there is an NGC MS-65 on their census; neither coin has appeared at public auction in recent times. Indeed, the highest grade offered in recent times was a PCGS MS-63 that realized $17,250 in a January 2010 auction sale. Once the final bid is hammered down for this coin, who knows how long it will be before another comes to the market.
This coin had been in a bank vault for the better part of 45 years before being brought to market.