Hard Asset Management Announces Private Treaty Sale of Ultra-Rare Proof 1802 U.S. Silver Dollar
One of only four specimens known of the legendary 1802 Draped Bust Proof Dollar has been placed from their Reserve Collection.
SAN JUAN, Puerto Rico, November 10, 2022 (Newswire.com) - Hard Asset Management, Inc. is proud to announce it has recently sold one of the legendary proof 1802 U.S. Silver Dollars. This ultra-rare U.S. Proof Draped Bust Dollar is one of the world's most sought-after rare coins, first appearing on the numismatic scene in 1876.
The 1802 proof Draped Bust Dollar is an issue usually grouped by numismatists with three others: the 1801 proof Dollar, the 1803 proof Dollar, and the famous 1804 silver dollar. Like the 1804 dollar, referred to as the "King of Numismatics" for over a century, the 1802 proof Dollars were manufactured in a minuscule quantity, sometime after 1832 and perhaps as late as 1876. No more than a dozen of the 1802 proof Dollars were struck, and only four pieces are confirmed to exist, compared with at least 15 known of the 1804 proof Dollars. Comparing the two makes it clear that the 1802 is worth more. Yet, again and again, any time that an 1804 is offered for sale, it sells for several millions of dollars, regardless of condition.
"This particular coin blends rarity, history, and aesthetic beauty in one beautiful and incredible rarity," says Christian Briggs, Founder and CEO of Hard Asset Management. "Many collectors and dealers consider the early Draped Bust Dollars one of the most undervalued areas of U.S. numismatics. It's a real prize to survive a population of only four coins."
These early Proofs were first reported by John W. Haseltine in 1876 and offered for sale, and Haseltine was known to have obtained several delicacies from the Philadelphia Mint. Famed numismatists Borckardt and Bowers concluded that these were all struck after the Class I 1804 silver dollars, using the same reverse die. This 1802 novodel, as they are sometimes referred to, was showcased during one of the first public floor exhibits, and it became an instant sensation and has been a sought-after issue ever since.
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Hard Asset Management, Inc., a wholly owned subsidiary of BMC Capital, Inc., is one of the world's largest, rare coin and precious metals dealers. We buy, sell, appraise, and render opinions/recommendations on all U.S. and world rare coins and precious metals.
Source: Hard Asset Management, Inc.