1852 Liberty Seated Silver Dollar. Restrike. OC-P2. Rarity-7+. Proof-64+ (PCGS). CAC. CMQ.

An exceptionally attractive example of this classic rare date in the Liberty Seated dollar series. The obverse is particularly vivid with dominant iridescent olive-gold toning that yields to crescents of salmon pink and midnight blue along the lower border. The reverse is more boldly toned with mottled olive-russet and cobalt blue peripheral colors around softer lilac-gray centers. Watery and reflective mirrors provide some semblance of contrast with lightly frosted devices, a feature best seen with the aid of direct lighting. Sharp and overall smooth, fully lacking in significant post-mint blemishes. A thin, shallow strike through that arcs through the lower right reverse, from the border outside the letter I in AMERICA to the right base of the letter D in DOL, is as made and serves as a useful provenance marker. This elusive issue owes its existence to the low mintage, key date status of the circulation strike 1852 silver dollar. The Philadelphia Mint struck only 1,100 silver dollars for commercial use in 1852, a fact that was not lost on contemporary numismatists. By the end of that decade the 1852 (along with the 1851) had established a reputation as a rare and desirable date in the silver dollar series. In 1859 (and perhaps as early as 1858), the Mint began producing Proof restrikes of the 1852 silver dollar. These coins are not an official issue, but rather were offered privately by Mint personnel. Several striking periods are supposed, the first ending in 1860 when Mint Director James Ross Snowden seized the dies and sealed them in a carton, per a (probably) fictitious scenario. In 1867 a new mint director, Henry R. Linderman, opened the carton (again, probably an imagined scenario), inaugurating a new period of restriking that probably continued intermittently until the end of Linderman's second term in 1878. The earliest known auction appearance of a restrike Proof 1852 silver dollar was in Edward Cogan's Simon Gratz Collection sale of May 1, 1859. Since then, the popularity of this issue has grown as new generations of collectors have sought high grade examples of this key date Liberty Seated dollar. Just a single obverse die was used to strike all 1852-dated issues, including circulation strikes, original Proofs, and Proof restrikes. The OC-P2 variety, as offered here, is the rarest of the two confirmed die marriages used to strike 1852-dated Proof restrikes. Osburn and Cushing (2018) also list a third restrike die marriage that was previously proposed by Q. David Bowers, but this has yet to be confirmed. The OC-P2 variety features a reverse die first used on original Proofs from 1856 and 1857, and it was later used for restrikes dated 1851 and 1852. Although this is only conjecture, we believe that this die marriage represents the first restrike Proof 1852 silver dollars produced, circa late 1858 to early 1859. Original research by John M. Pack suggests that this reverse was also used to strike 1861 original Proofs, based on the matching of several die markers including a lump on the rim below the letter L in DOL. Estimate:s on the number of restrike Proof 1852 dollars produced varies by source (usually in the range of 40 to 100 coins), with Osburn and Cushing putting forth a mintage of about 65 coins, of which perhaps 40 survive. PCGS CoinFacts is more conservative with an Estimate: of 30 to 35 restrikes extant. Most of these were struck from the OC-P3 die marriage; only a half dozen or so examples of the OC-P2 variety are thought to survive, and the offered coin is surely one of the very finest in this highly select group. It is only the second confirmed OC-P2 specimen that we have offered in recent years, the first the NGC/CAC Proof-64 Cameo coin that appeared as lot 3178 in our March 2020 Auction. The offering of any 1852 Liberty Seated dollar - circulation strike, original Proof, or Proof restrike - is a significant event in the numismatic market. This beautiful near-Gem Proof restrike would be difficult to improve upon in an example of this highly coveted date. It is destined to serve as a highlight in an advanced collection of Liberty Seated silver dollars or wider assemblage of 19th century U.S. Mint Proof coinage.

PCGS# 6995. NGC ID: 2525.

PCGS Population: 1; 5 finer in this category (Proof-65+ finest). CAC Stickered Population: 4; 2. The former total includes coins certified both Proof-64 and Proof-64+.

From Heritage's sale of the Rev. Dr. James G. K. McClure Collection, June 2016 Long Beach Signature Auction, lot 4647, as NGC/CAC Proof-64 *.

Estimate: $50000