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2041

1794 1C Head of '94. AU55 PCGS. S-39, B-27, R.6.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:40,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1794 1C Head of '94. AU55 PCGS. S-39, B-27, R.6.
<B>1794 1C Head of '94. AU55 PCGS. S-39, B-27, R.6. </B></I> <B>Bland XF40; tied for CC-2. Noyes XF45; CC-2. Photo #39969. Our EAC Grade XF45.<BR><BR>Equivalents. </B></I>Maris 49; Hays 40; McGirk 5-B; Ross 25-AA; Chapman 25; EAC 26; <I>Encyclopedia </B></I>1668; PCGS #901374.<BR><B><BR>Variety. </B></I>The Marred Field. Ribbon ends widely spaced, close to U and A; berry below upright of R. The obverse appears on S-38, S-39, S-40, and NC-2. The reverse appears on S-39. Lettered Edge, leaf points up.<BR><B><BR>Surfaces. </B></I>A golden-brown beauty with hints of blue iridescence on each side. The surfaces have very minor circulation marks that are generally expected at the grade level. The edge is marked PHELPS and 49. A few faint scratches are blended into the surface and are virtually undetectable.<BR><B><BR>Die State II.</B></I> The obverse has light clash marks, and the reverse has a faint crack from the border left of 100, curving through the left ribbon to the lowest leaf tip.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Frossard-Hays, Elder-Gilbert, Chapman, and Noyes (2006). The reverse is illustrated in <I>Early</B></I> <I>American Cents</B></I> and <I>Penny Whimsy</B></I>. The Breen <I>Large Cent Encyclopedia </B></I>illustrates the Brand-Wurtzbach finest known example that was returned to the ANS in exchange for this piece.<BR><B><BR>Census. </B></I>Noyes records just two examples better than VF. The finest known is an AU piece in the ANS Collection, and this coin is next in line, the finest available to collectors. Del Bland considers this coin and the Jack Robinson specimen, now owned by Daniel Holmes, tied for second finest.<BR><B><BR>Commentary. </B></I>A curious feature is a pair of linear, horizontal die lines through the upper hair curls, to the cheek just above the ear. Also, a short parallel flaw is hidden in the hair just above the left end of the lower flaw. It is doubtful that these are clash marks, for a couple of different reasons, mostly because they are raised. Both S-39 and S-40 have these die flaws, but they do not appear on S-38 from the same obverse die. These flaws require more study, as they appear to be constant on both varieties, ruling out the possibility of die cracks. If constant, they may indicate that the Marred Field of S-38 is from a different die than the Marred Field of S-39 and S-40. These same defects can also be seen in the photo of the NC-2 at the ANS, also from this obverse die.<BR><BR>This is apparently "the original Hays coin" Sheldon discussed in 1949, although W.W. Hays is absent from the provenance.<BR><BR><B>Provenance. </B></I><I>Charles I. Bushnell; Lorin G. Parmelee; Chapman Brothers (6/1882), lot 2626, $11; Chapman Brothers; Thomas Warner (Chapman Brothers, 6/1884), lot 3000, $7.25; David Proskey; Henry Phelps (1901); Charles Steigerwalt (1906); Charles Zug; Lyman H. Low (3/1907), lot 40, $38.50; Thomas Elder; Ebenezer Gilbert; Thomas Elder (10/1910), lot 40, $101; H.O. Granberg; William H. Woodin (United States Coin Co., 5/1915), lot 125, $245; Henry C. Hines (1944); Homer K. Downing (1948); Dr. William H. Sheldon; ANS; R.E. Naftzger, Jr. (2001).</B></I><BR><BR><B>Personality. </B></I>An active 19th century collector, <B>Henry Phelps</B></I> sold many of his large cents to Charles Steigerwalt with a fixed price list issued in October 1903. Phelps acquired his 1794 cents from William Hays. Lyman Low sold the 1794 cents at auction in March 1907.<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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