The rare coin market loves fresh discoveries from old collections,
such as the exceptional 1846-O Seated Liberty dollar that emerged from
the Linnemann Family Collection recently.
The Professional Coin Grading Service Mint State 64 dollar was
offered as part of Stack’s Bowers Galleries’ June 21 auction during
Whitman’s Coin and Collectibles Baltimore Expo. It sold on a bid of
$37,500 (or $44,062.50 once the firm’s 17.5 percent buyer’s fee is
Seated Liberty dollars were struck at the New Orleans Mint for
just four years, of which 1846 was the first. PCGS had graded just one
other MS-64 example with none finer, and as the catalog attested, it
was a rare find in the current market, “something unseen for
generations and of such incredible quality ... It is indeed likely
that no finer 1846-O remains to be found, but history will be the
judge if there is time enough to wait.”
Finding pricing comparables for a coin of this rarity is
challenging. A Jan. 7, 2010, sale of another toned example graded PCGS
MS-63 with a green Certified Acceptance Corp. sticker, indicating
quality within the grade, was at the $17,250 level, but it is more
available in this grade as around a dozen MS-63 1846-O dollars are known.
Further, the MS-64 dollar has a distinctive overall color scheme,
described as “a firm foundation of gunmetal-blue which flashes with
teal, yellow and lilac when examined under a light.” Unusual both in
appearance and in rarity.
For those looking for a more reasonable example, Stack’s Bowers
offered one graded Numismatic Guaranty Corp. MS-60 with a green CAC
sticker that realized $7,167.50 in the same auction.
Other Seated Liberty highlights included an extremely handsome
PCGS Very Good 10 1870-CC Seated Liberty quarter dollar with a green
CAC sticker that brought just over $14,000.
In the same auction, a run of Carson City Mint dimes from the
William Porter Collection included one of the finest 1871-CC Seated
Liberty dimes graded PCGS About Uncirculated 55 with rich toning
Two 1873-CC Seated dimes graded ANACS Fine 12 Details, Cleaned and
PCGS Very Good 8 sold for $3,407.50 and $3,290 respectively. The
strong prices for the Porter coins reflects that the market’s appetite
for scarce and rare Carson City Mint coinage shows no signs of