One of the more fascinating aspects of early dollar study
and collecting is the extraordinary variety of designs, die
varieties, and die states. They present a special challenge
and have some aspects not found in other US "types."
Among the more notable:
Silver Plug
Some (most believe
thirty to fifty, a few surmise eighty or more) of
the Flowing Hair dollars minted in 1795 have a silver
"plug" in the center, visible on both sides.
Thus far, they have been found in five varieties (B-1,
3, 4, 7 and 9). Roughly 8mm in diameter, and always
found at or close to the center of the coin, this
curious anomaly was not mentioned in any of the books
or articles on Flowing Hair dollars, for nearly 200
years. Both John W. Haseltine and M. H. Bolender-in
their seminal studies-missed it.
Although many noted
numismatists are given (or try to take credit) for
having "discovered" the silver plugged variety,
anecdotal stories convincingly demonstrate that "coin
doctors" were the first to encounter the plug
decades ago when-in the process of attempting to improve
their appearance-a "circle" would "pop"
out of some 1795s after heating. One coin doctor-long
since retired- confided to me he had experienced that
phenomenon three times. He gently tapped the popout
back into the coin. For obvious reasons, this group
did not report their findings to the coin media.
Bowers described the curiosity in 1981, but was unsure
what it was. By the early 1990s, several numismatists
began to delve into the enigmatic "small circle"
found in some 1795 Flowing Hair dollars, including
Bowers, Roger Burdette, Kenneth Bressett and Tom DeLorey.
Initially, it was surmised some indentation or defect
in planchets had been corrected, then covered with
silver. As more examples surfaced, more attention
was focused on the strange anomaly.
Bressett presented a paper on the "curious circular
ring or seam" at the October 1993 American Numismatic
Society (ANS) Coinage of the America's Conference
(COAC) focusing on Americais Silver Coinage. After
analysis of numerous examples, all the same size and
in the same location, he found they had all been added
before striking, as the die impressions were always
struck over them. Bressett and Burdette speculated
that the strange metal had been added to increase
the silver content (fineness).
It was known, from
earlier research, that the Mint director (David Rittenhouse)
had ignored the silver fineness mandated by Congress
(.89243) and secretly employed a .900 benchmark, adding
an extra 3.5 grains of silver to each silver dollar
coin. Could Rittenhouse have added a tad of metal
to planchets to come into compliance with the mandated
standard? This was originally thought to be the answer.
As Bressett studied
the circular ring further, he soon concluded it was
far more probable that extra metal was added to bring
lightweight planchets up to standard. He reasoned
the extra metal brought those "short" up
to the norm, at least as an experiment in 1795, just
as overweight planchets were corrected by removing
metal with a fine file, leaving adjustment marks.
The plug is not found in 1794, the Draped Busts of
1795, or any subsequent year.
The plug area was
subjected to spectrographic x-ray analysis, which
demonstrated the fineness of the added metal roughly
equaled the rest of the planchet in nearly all cases
(or was within understandable tolerances of). In reality,
the term "plug" is somewhat misleading.
Bressett explains his conclusion as to how the metal
was added in the paper described above, as follows:
During mid-1795, an experiment was tried in
the mint to salvage lightweight planchets by inserting
a dowel, or plug, in the center of the piece and then
striking it with normal dies. There would be no need
to drill a hole, or remove any metal. A simple piercing
with a sharp instrument would leave an opening where
a pin or dowel could be inserted. The effect after
striking would be to round over the exposed tips on
each side of the coin, much like the ends of rivets
used in building construction...
Copper pattern cents
of 1792 also have a "silver center" from
a dowel inserted prior to striking (to raise the coin
value to face); no other regular issue of the US Mint
was known to have a silver "plug." However,
in 1997, a 1795 Flowing Hair half dollar was discovered
to have a similar plug. A second was soon found. Other
1795 halves with this feature will probably surface;
the hunt for them is on in earnest.
Chris Pilliod, a professional
metallurgist and numismatic historian, subjected the
"discovery" 1795 half dollar with silver
plug to advanced electron analysis. After five readings
on each side, he found the silver fineness and trace
metals to be virtually the same for the plug and the
remainder of the coin. He concluded the "plugging
was undoubtedly done solely as a weight adjustment
on light planchets" prior to striking.
Why did the 1795 Flowing
Hair dollar (and half) with silver plug go "undiscovered"
for some 200 years? One can only surmise. In early
America, coins were often holed for jewelry, pocket
pieces and coat buttons. Many were plugged later,
often expertly. Some who noticed the circle may have
assumed this had occurred. Moreover, the outline of
the plug is nearly (or completely) invisible on darkly-toned
specimens. Even professional numismatists, who noticed
the curious circle, dismissed it as "toning."
As late as October 1992, when the noted Starr collection
was auctioned by Stack's, the catalogue described
a silver plugged 1795 dollar as having "a splash
of toning, mostly in the central portions of each
side." The overwhelming consensus today is that
the "plugs" were inserted prior to striking
to correct light planchets, in an experiment which
occurred only in 1795. The Red Book began listing
the "silver center plug" as a separate variety
in 1994. It commands a premium over common varieties
of 1795 Flowing Hair Dollars in the same condition.
