Estimated grade. Sold by B. Max Mehl Jun '41 price realized $4.2
1840 was another one of those transitional years in the Seated Liberty Dime series. Early editions of the Dime were of the "No Drapery" type; later in the year, the design of Liberty was modified in both subtle and not-so-subtle ways. The most obvious change was in the angle of the shield: on the No Drapery types, the shield is angled to the left; on the With Drapery types, the shield is perfectly vertical. More subtle changes included a reshaping of the rock on the left side of the coin and the addition of extra folds of drapery beneath Liberty's left elbow (the viewer's right).
The No Drapery type is approximately three times less common than the With Drapery type. The No Drapery version is scarce in Mint State, but not enough to be called rare. Most Mint State examples fall in the MS63 to MS64 grade range. Gems are rare, with MS67 the highest grade at PCGS and MS68 the highest at NGC.
Stack's/Bowers 11/2012:3075, $14,950
Heritage 10/2001:5935 - Eugene H. Gardner Collection - Heritage 6/2014:30245, $11,162.50
Heritage 10/2006:697, $10,925
Heritage 7/2012:3385, $6,900
Heritage 4/2013:1725, $7,931.25