United States Coin of the Week: Near-Gem 1846-O Dollar from the Linnemann Family Collection

By Greg Cohen, Professional Numismatist and Consignment Director, U.S. and World Coins.  Based on the lot description by James Matthews, Senior Numismatist and Consignment Director, U.S. Coins

A couple of weeks ago we presented an overview of the Linnemann Family Collection, one of the anchor consignments to our June Baltimore auction sale (click here to read). 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. For a Liberty Seated dollar collector, this opportunity should not be taken lightly, and we expect many hands in the air when this lot is called to the auction block.

The June sale catalogs will mail shortly. There are many great coins for your bidding pleasure from the Linnemann Family Collection and other important properties. If you are not on our mailing list, be sure to contact one of our auction services associates to add your name. If, like the Linnemann Family, you have a collection that you are now ready to offer at auction, we are accepting consignments of U.S. coins for our upcoming auction sales, including the official auction of the American Numismatic Association’s World’s Fair of Money, to be held in Chicago this August. Do not hesitate to contact a consignment director to discuss your collection. We wish all bidders the best of luck and we hope to see you in Baltimore (or in our Irvine, CA or New York City offices for lot viewing).