Queller’s 1804 Dollar Reaches $3,737,500 at Heritage’s $44 Million CSNS Auctions

by Heritage Auctions on April 21, 2008 · 0 comments

Dallas, TX. The 1804 Silver Dollar highlighting the amazing collection of silver dollars assembled by David Queller and his family reached $3,737,500 at the Official Auction of the Central States Numismatic Society convention held by Heritage Auction Galleries. Combining the rare coin and currency results, total prices realized currently exceed $42.6 million. After adding proceeds from all Post Auction Buys and Final Session auctions, total prices are expected to exceed $44 million.

Four Queller Family Silver Dollars

More than 6,700 bidders participated in the Signature and Platinum Night events, and another 3,000-plus are anticipated to participate in the Final Sessions. The auctions were held in Rosemont, Illinois on April 16-18; Images, descriptions, and prices realized for all lots can be viewed at the Heritage website, HA.com.


“Heritage was very pleased with the auction wide results at Central States,” commented Heritage President Greg Rohan, “and especially so for the results of the wonderful Queller Family Collection. As anticipated, the market reacted well to the combination of rarity and quality that marked all of the coins assembled by a discerning eye. And also as anticipated, the most valuable three coins sold in Rosemont were all Queller coins. The prices further support claims that this was the greatest silver dollar collection ever assembled.”

“Heritage was also pleased at the total prices realized including currency. Over the past three years, Heritage achieved enviable results at our Central States auctions: 2005 – $24,265,967; 2006 – $24,145,105; and 2007 – $24,912,768. Frankly, we were beginning to wonder when we were going to exceed that $25 million level! Well, we have decisively smashed that barrier in 2008, and any concerns about the overall economy were decisively rejected by astute collectors willing to pursue quality.”


Highlights from Heritage’s Rosemont Central States Signature & Platinum Night Auctions

Lot 2000: 1794 $1 AU58 NGC. B-1, BB-1, R.4.

In the Mint Act of April 2, 1792, Congress established a bimetallic coinage system based on the silver dollar and the gold eagle as the “unit” measurement. All 1,758 dollars dated 1794 coins were minted from a single pair of dies.

From The Queller Family Collection of Silver Dollars.

Realized: $488,750

Lot 2088: 1802 “Novodel” Dollar, PR65 Cameo PCGS, B-8, BB-302

Ex: Newcomer-Carter-Queller Specimen

The 1802 proof novodel silver dollar is usually grouped with three other rarities: the 1801 proof novodel, the 1803 proof novodel, and the famous 1804 silver dollars.

From The Queller Family Collection of Silver Dollars.

Realized: $920,000

Lot 2089: 1804 Silver Dollar, Class I “Original,” PR62 NGC

The ‘King of American Coins,’ and quite simply the most famous of all American numismatic rarities. Ex: Chief Coiner Adam Eckfeldt; unknown intermediaries; Henry C. Young, a teller at the Bank of Pennsylvania (c. 1850); Joseph J. Mickley (c. 1858); Joseph J. Mickley Collection (W. Elliot Woodward, 10/1867), lot 1676, $750; William A. Lilliendahl; Edward Cogan; William Sumner Appleton (c. 1868); Appleton estate; Massachusetts Historical Society (1905); Property of the Massachusetts Historical Society (Stack’s, 10/1970), lot 625, $77,500; Chicago collection; Reed Hawn, via Stack’s (1974); Reed Hawn Collection (Stack’s, 10/1993), lot 735, $475,000; David Queller; The Queller Family Collection of Silver Dollars.

Realized: $3,737,500

Lot 2112: 1855 $1 MS64 NGC. CAC.

In 1980, this coin was described as “the finest Uncirculated 1855 Seated Liberty dollar that we have seen” and the certification services agree; it is still the single finest known!

From The Queller Family Collection of Silver Dollars.

Realized: $149,500

Lot 2129: 1870-S $1 XF40 NGC

The rarity and importance of the 1870-S Seated dollar is rooted in the building of the San Francisco Mint and the laying of its cornerstone on May 25, 1870.

Ex: Matthew Stickney, sold privately. Likely Colonel E.H.R. Green; James Kelley; Jack V. Roe; James Kelley; Clint Hestor or Charles M. Williams; Menjou Sale (Numismatic Gallery, 1950) lot 2181; Abe Kosoff FPL 1955; Fairbanks Collection of Ben Koenig (Stack’s, 10/1960), lot 617; Samuel Wolfson Collection (Stack’s, 5/1963), lot 1431; R.L. Miles, Jr. Sale (4/1969), lot 1612, where it brought $19,000; Autumn Sale (Stack’s, 9/1978), lot 345, where it realized $39,000; The Queller Family Collection of Silver Dollars.

Realized: $805,000

Lot 2150: 1853 $1 Restrike PR65 NGC

A magnificent specimen of this rare proof date, among the rarest in the series.

Ex: A.J. Ostheimer Collection, (Lester Merkin, 9/1968), lot 350; ANA Auction (Kagin’s, 8/1977), lot 1794, $5,600; Robison Collection, Part II (Stack’s, 2/1982), lot 1908, which realized $8,000; Auction ’82 (Paramount, 8/1982), lot 1747, which realized $6,500; Auction ’84 (Paramount, 7/1984), lot 739, which realized $7,975; The Queller Family Collection of Silver Dollars.

Realized: $103,500

Lot 2217: (1659) Lord Baltimore Shilling AU58 NGC. Breen-64, Large Head, R.6.

This is the finer of only two NGC-certified examples, partly lustrous, delicately toned in caramel-gold and powder-blue.

Realized: $74,750

Lot 2274: 1804 Quarter, MS65 NGC. B-1, R.4.

This rarity is ex: Colonel Edward Howland Robinson Green, better known as Col. E.H.R. Green — the son of Henrietta Howland Robinson Green, née Henrietta Howland Robinson (1834-1916), a.k.a. Hetty Green or the “Witch of Wall Street.”

Ex: Col. E.H.R. Green; Stack’s (1945); Jerome Kern Collection (B. Max Mehl, 1950), lot 1385; Eugene Gardner Collection (Stack’s, 2/1965), lot 1620; H. Philip Speir estate (Stack’s, 3/1974), lot 2; 1975 ANA Sale (Superior, 8/1975), lot 352.

Realized: $310,500

Lot 2310: 1838-O Half Dollar, PR45 PCGS.

A classic numismatic rarity, with only about a dozen known in all grades. It is thought that just 20 proofs were coined to mark the initial operation of the New Orleans Mint early in 1839, from one of the two die pairs received in New Orleans. This example has a wonderful pedigree for the last half century.

From The Yoder Family Collection, Part One.

Realized: $276,000

Lot 2313: 1861-O Seated Half Dollar SP64 NGC.

The 1861-O mintage quantity includes 330,000 struck under the U.S. government, 1,240,000 under the State of Louisiana after it seceded from the Union, and 962,633 after Louisiana joined the Confederate States of America. Ex: James A. Stack Collection (Stack’s, 3/1975), lot 494.

Realized: $97,750

Lot 2344: 1838 Gobrecht Dollar, Name Omitted, Judd-84 Restrike, Pollock-93, R.5, PR65 NGC. 413.2 grains. Silver. Die Alignment IV.

In this unusual die alignment, the center of Liberty’s head is opposite the right side of the F in OF. Ex: Norweb III (Bowers and Merena, 11/1988), lot 3776, where it was photographed in Die Alignment I or II orientation.

Realized: $149,500

Lot 2375: 1839 Quarter No Drapery PR65 NGC. Ex: Pittman-Kaufman.

The Kaufman 1839 proof Seated quarter is considered the only one of its kind in existence, and is the solitary example certified by either NGC or PCGS. It had been off the market for a decade, and before that for half a century. Ex: F.C.C. Boyd; World’s Greatest Collection (Numismatic Gallery, 3/1945), lot 147; Numismatic Gallery (privately, 7/1947); John Jay Pittman, lot 1298; Phil Kaufman Collection.

From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $517,500

Lot 2376: 1839 Half Dollar No Drapery PR62 NGC. 

The Kaufman 1839 No Drapery proof half dollar is one of only three pieces known, with a provenance to F.C.C. Boyd and the World’s Greatest Collection. It appears to be the only late die state example, with a bisecting reverse crack that is unseen on the other two examples. While not designated a Cameo on the NGC holder, deeply mirrored fields highlight the frosty devices.

From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $138,000

Lot 2377: 1839 Half Dollar Drapery PR64 NGC. Ex: Pittman-Kaufman.

This is the solitary example certified by either NGC or PCGS; this defines rarity. This was the second 1839 dated rarity that Phil Kaufman had purchased out of the John Jay Pittman collection. The early history of this example is uncertain, and it may be a unique issue. From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $184,000

Lot 2380: 1842 Quarter Small Date PR64 NGC.

The Phil Kaufman 1842 Small Date proof quarter is one of only seven known pieces, two of which are permanently impounded in the cabinets of the American Numismatic Society and the Smithsonian Institution. While many Large Date quarters exist in circulated and Mint State grades, the Small Date variety is a proof-only issue.

From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $126,500

Lot 2392: 1849 Dollar PR67 NGC. 

This is a fabulous coin, and the finest known of perhaps seven examples; it was a favorite of Phil Kaufman because of its flawless fields and extraordinarily beautiful original toning. NGC has certified just three PR67 Seated dollars dated from 1840 to 1855, and all three were part of the Kaufman Collection, so he may be considered the reigning expert on high-grade beauties.

From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $230,000

Lot 2393: 1851 Dollar Restrike PR66 Cameo NGC. 

This is the finest of the 45 coins certified by NGC and PCGS, and one of just eight pieces given a Cameo designation. The Restrike silver dollars are sometimes referred to as the “Centered Date” dollars, compared to the higher date position on the Original strikes. It is generally thought that all 1851 Restrike dollars were coined as proofs in the late 1850s. From The Phil Kaufman Collection of Early Seated Proof Sets, Part Three.

Realized: $149,500

Lot 2405: 1798 Close Date, 4 Berries $2.50, BD-1, MS64 NGC. Breen-6116, BD-1, High R.5.

During the entire twelve-year period (from 1796 through 1807), less than 20,000 Draped and Capped Bust design quarter eagles were minted; all are rare. Ex: Bowers and Merena (9/1984), lot 2432; David W. Akers (Auction ’89, 7/1989), lot 1358; Chalkley Collection (Superior, 1/1990), lot 4337; Superior (Auction ’90, 8/1990), lot 1249; Superior (Chicago Sale, 8/1991), lot 665; Superior (5/1993), lot 1377.

Realized: $218,500

Lot 2421: 1879 Flowing Hair Stella, PR65 NGC, Judd-1635, Pollock-1833.

America’s $4 coin remains incredibly popular among numismatists; ownership marks a world-class collection.

Realized: $201,250

Lot 2435: 1820 $5, Curl 2, Large Letters, MS65 PCGS. Breen-6477, BD-7, High R.7.

This remarkable coin is tied for the finest known business strike of the BD-7 variety.

Distinguishing between the nine varieties of the 1820 half eagles can be extremely confusing, especially considering the three major types: Square Base 2, Large Letters; Curved (or Curl) Base 2, Large Letters; and Curved Base 2, Small Letters. Ex: Bowers and Merena, June 1986, Lot 344.

Realized: $253,000

Lot 2436: 1827 $5, MS64 NGC. Breen-6486, BD-1, High R.5.

During the 1820s, the face value of gold coins was less than the value of gold they contained, meaning that few were struck, and most were melted soon after. Only one coin has been certified finer.

Realized: $126,500

Lot 2500: 1871-CC $20, MS64 NGC.

This is the finest known 1871-CC Liberty double eagle, and has been described by David Akers as the finest known specimen, and “truly a one-of-a-kind item.”

Realized: $414,000

Lot 2506: 1868 $20, PR66 Cameo NGC.

This is the finest certified Cameo Proof 1868 Type Two Twenty, and is a coin of the utmost rarity and importance, whether to type collectors, date collectors, or to connoisseurs of proof gold.

Realized: $299,000

Lot 2526: 1932 $20, MS66 PCGS.

This rarity, ex: Morse Collection, is among the finest certified at either service.

Ex: Phillip H. Morse Collection (Heritage, 11/2005), lot 6714.

Realized: $161,000

To discuss consigning coins or currency to an upcoming auction, please call the Heritage Consignor Hotlines at 800-872-6467 ext. 1000 (Coins); or ext. 1001 (Currency).

For more information about Heritage’s auctions, and a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit www.HA.com

To reserve your copy of any Heritage auction catalog, please contact Client Services at 1-800-872-6467, ext. 1150, or visit www.HA.com/Catalog to order by email.

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