LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

2667

1794 1C Head of 1795 MS66 Red and Brown PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:95,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1794 1C Head of 1795 MS66 Red and Brown PCGS
<B>1794 1C Head of 1794 MS66 Red and Brown PCGS.</B></I> S-26, R.2. The Red and Brown designation for early coppers is coveted; especially so on the cents of 1794, where survivors retaining any degree of mint-red coloration are seldom encountered. The numbers substantiate this claim: as of (12/07) PCGS has certified only 19 1794 cents with the Red and Brown label, regardless of variety or numerical grade. Furthermore, none have ever achieved the full Red designation in over 20 years of professional coin grading by PCGS. Of course both the NGC <I>Census Report </B></I>and the PCGS <I>Population Report </B></I>are not always completely accurate, for a variety of reasons, but the numbers are useful as a guide. Early copper specialists, however, are much more interested in condition census information than the population data of third party certification companies. The current coin is the Clapp-Eliasberg specimen, which Noyes considers to be tied the Sheldon coin as the finest known. The Eliasberg pedigree is noted on the PCGS holder, which is of the earlier generation, green label type.<BR> Identifying a 1794 cent as the S-26 variety is relatively easy, especially in the later die states where the reverse exhibits two prominent die cracks. William Sheldon, in his ground breaking treatise on early large cents, <I>Penny Whimsy</B></I>, provides exacting detail of these die flaws: "The O in OF has a short, curved projection from its left side, which is always present. Nearly all specimens have a break through E of STATES to the point of the upper left leaf. Most specimens, certainly two-thirds, have a heavy break from the first S of STATES to the C of CENT. Many clash marks, or traces of injury to the die are present. There are five berries on the left and six on the right branch. The fraction bar is long and pointed at both ends." This reverse, identified in the Breen reference as reverse die "J," was only used on the S-26 die marriage, thus simplifying attribution. Sheldon called this the "Severed Hair Strands" variety, due to the detached curls at the back of Liberty's head. This phenomenon was caused by excessive die grinding or polishing. Breen's <I>Encyclopedia of Early United States Cents 1793-1814 </B></I>describes eight die states for S-26, with the current coin being Die State VII.<BR> The astonishing aesthetic qualities of this early cent are memorable. When rotated under a light source, the original red mint bloom pierces through the mellowed reddish-brown patination. The uninterrupted luster is satiny and consistent throughout. Other than a few toning spots, hardly worthy of mention, the surfaces appear to be free of defects. This well centered piece displays some minor rim weakness between 1 o'clock and 3 o'clock on the obverse, which is mentioned here only for the sake of accuracy. A splendid early copper with an impressive provenance. 1 in 66, 0 finer (12/07). EAC 63.<BR><I>Ex: George Seavey; William H. Strobridge (1873 sale), lot 221; Lorin G. Parmelee, (New York Coin & Stamp Co., 6/1890), lot 686; J.F. Anger; John G. Mills, (S.H. & H. Chapman sale, 4/1904), lot 1238; George H. Earle, Jr., (Henry Chapman, 6/1912), lot 3376; John H. Clapp (2/1942); Louis Eliasberg, Sr., (Bowers & Merena, 5/1996), lot 492; Anthony Terranova; Stack's (9/2005), lot 473.<BR>From The Madison Collection.</B></I><BR><BR><B>Coin Engraver:</B> Joseph Wright<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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