1795 Silver Dollar, Draped Bust Centered Silver $1, NGC MS65, BB-52, B-15. Harold S. Bareford Collection.
In its population report, NGC shows 2 1795 Centered BB-52 Draped Bust silver dollar certified at the Gem 65 grade level. The highest certified for this variety at PCGS is only an MS61. Here is an opportunity to obtain one of the finest known, important early silver dollars that comes with an excellent numismatic pedigree.

This lightly toned Gem Draped Bust 1795 Small Eagle silver dollar is tied for the second finest at NGC and is the finest known at PCGS. It comes with the provenance of the Harold S. Bareford Collection. The coin has light iridescent toning on proof-like surfaces. Tan, gray, and gold are seen on both sides, with the reverse being slightly lighter. The strike is outstanding. The highest areas of Libertys hair, her bust line, and the centers of the stars are full and strong. There are also full details on the eagles breast feathers and wings. The dentils are full and strong on both sides. Aside from a few reverse adjustment marks, the surfaces are clean with no visible abrasion marks or other distractions worthy of description. The 1981 auction catalogue said of this coin, Brilliant Uncirculated, needle-sharp strike, gem with prooflike surface, mottled light iridescent toning, mostly in the devices.

The 1795 Draped Bust Small Eagle dollar comes in two different varieties. The BB-51 is the Off-Centered Bust, and the BB-52 is the Centered Bust. On the BB-51 piece, Liberty was placed too far to the left. The BB-52, which is a more aesthetically pleasing piece, is also identified by the highest wave of Libertys hair under the E in LIBERTY. The lowest curl is close to the 1 in the date, and Star 1 does not touch the curl. The reverse has six berries on the olive branch. A leaf is under the right upright of the A in STATES. Small letters are used on this reverse.

In 1881 John W. Haseltine catalogued a coin of this type. He called it a fillet head, well centered. In 1950 Milferd H. Bolender called this die the fillet bust. For more than 50 years, dealers and collectors have referred to the 1795 Draped Bust, Small Eagle this way. The fillet is the ribbon tied at the back of Libertys hair. In his Silver Dollars of the United States, Bowers says of the type, The obverse portrait punch is of high quality and is superbly engraved, with a wealth of minute detail. Whoever made it, Robert Scot or John Eckstein, was extremely skilled. The reverse punch of the Small Eagle on billowy clouds is likewise superbly done. The wreath is sophisticated as well. The left side of the wreath, with olive leaves, bears a stylistic resemblance to the Three Leaves wreath, as the individual leaf elements are similar in appearance, with raised or outlined edges.

Harold S. Bareford was a New York City lawyer who began to collect outstanding U.S. coins in the 1940s and early 1950s. In 1981 his silver coin collection was sold at auction for nearly $1.9 million, which was more than 47 times his original purchase price. The October 1981 auction was the second sale. His gold coin collection was sold for $1.2 million in December 1978. This was more than 87 times his original cost. In 1947 Bareford wrote to one of the dealers he was using and said, I collect only the finest specimens and am not interested in any coin which is not perfect. His most expensive coin was the Dexter specimen of the 1804 silver dollar, for which he paid $10,000 in 1950. In 1981 it brought $280,000 and a decade later a million dollars. Bareford considered himself a collector not an investor. He was a member of numerous numismatic organizations including the ANA and the British Numismatic Society. He was also president of the New York Numismatic Club from 1959 to 1961.

Of the two 1795 Draped Bust, Small Eagle dollar types, the Centered dollar, the present piece, is much rarer in Mint State. In 1993, when Bowers published his Silver Dollars book, there were 20 Notable Specimens of the BB-51 variety that ranged in grade from MS63 to MS66. In that same grade range, there were only 6 specimens of the BB-52, only one of which was above MS64.