LOT Old Heritage Auctions  /  2008 February Long Beach Signature Coin #460  / 

2030

1794 1C Head of '94. MS63 Brown PCGS. S-28,

Currency:USD Category:Coins & Paper Money / US Coins Start Price:4,250.00 USD Estimated At:1.00 - 1,000,000.00 USD
1794 1C Head of '94. MS63 Brown PCGS. S-28,
<B>1794 1C Head of '94. MS63 Brown PCGS. S-28, B-10, R.2. </B></I> <B>Bland MS60; tied for CC-1. Noyes AU55; CC-4. Photo #34001. Our EAC Grade AU55.<BR><BR>Equivalents. </B></I>Maris 17 (Ornate); Frossard 11.1; Doughty 37; Hays 23; McGirk 3-C; Ross 15-P; Chapman 20; EAC 13; <I>Encyclopedia </B></I>1659; PCGS #901374.<BR><B><BR>Variety. </B></I>Five locks are vertically aligned. Single leaf below I in AMERICA covers branch stem. The obverse appears on S-28 and S-29. The reverse appears on S-27 and S-28. Lettered Edge, leaf points up.<BR><B><BR>Surfaces. </B></I>Both sides have lovely chestnut-brown color intermingled with specks of lighter tan. The obverse has a few trivial marks, most notably behind the eyebrow. The reverse is pristine, with only a minute toning spot at the serif of C in CENT.<BR><B><BR>Die State IV.</B></I> An intermediate die state. The obverse has a faint crack from the border at 4:30 into the field. Prominent clash marks are visible in the upper left part of the wreath.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2006).<BR><B><BR>Census. </B></I>Although recorded as Mint State and tied for finest known by Bland, this specimen ranks behind three Mint State pieces in the Noyes Census. Side-by-side comparison of all four pieces might suggest a different order.<BR><B><BR>Commentary. </B></I>The finest known example of this variety is probably the most dramatic off-center, double struck large cent of any date. Both strikes are off-center, and the coin retains considerable original red mint color. Dr. Robert Schuman owns the coin, illustrated on page 833 of Breen's <I>Large Cent Encyclopedia</B></I> and also in the Noyes reference.<BR><BR>The number of Mint State examples known from this die pair seems to fluctuate. In <I>Penny Whimsy</B></I>, Sheldon wrote: "Ten years ago we would have guessed that at least four or five Mint State coins could be turned up for this famous Ornate variety. The present review has revealed only three, but there are probably half a dozen between 60 and 50, and certainly we have seen more than a dozen between 50 and 40." Del Bland listed four Mint State pieces in his Census published in Breen's <I>Large Cent Encyclopedia</B></I>. Bill Noyes placed the number of Mint State pieces at five in his 2005 Census, but recorded just three top examples in his 2006 Census.<BR><BR>The final observation of Davy in his report was the process of milling or lettering the edges of the planchets. He was undoubtedly familiar with the invention of Drost used at Boulton and Watt's Soho Mint. He also suggested that many other improvements could be made, with a more complete review of the current procedures. This led to his pitch for employment <BR><BR>"The next operation which is performed is the milling on the edge; this is made a separate branch, and requires a person to attend it, but it may be performed by the same press and at the same time as the impressions on the surfaces are made, by the perpendicular movement of the bolt, and this machine which now requires two men to work it may be set in motion by the same water wheel, that should be applied to work the rollers which will be an important saving. (Should it be found inconvenient to apply the power of water to the operations of the Mint, that of horses now used may be applied to this machine at a much less expense than that of the present manual labor.)<BR><BR>"Other observations might have been made, and improvements suggested, if I had seen the whole of the machinery at work, or had the opportunity of a more minute inspection of the Mint; there is no doubt but that the coinage may be much improved, by rendering the cents brighter, and clearer from rough, black streaks which much disfigure many of them, the expenses considerably diminished and a greater quantity of coins produced; besides laying a foundation for other important advantages to this country, by adopting the plan herein offered.<BR><BR>"If it should appear that my services will be of use, I shall be happy to engage my attention to the execution of the improvements suggested, and in procuring materials, and the necessary workmen in addition to those already engaged, some of whom appear to possess considerable merit."<BR><BR><B>Provenance. </B></I><I>Dennis E. Steinmetz (10/1989); Douglas Bird (1/1995); Robert J. Shalowitz; Chris Victor-McCawley (6/1995); G. Lee Kuntz; Chris Victor-McCawley.</B></I><BR><BR><B>Personality. Dennis E. Steinmetz</B></I> is the founder and president of Steinmetz Coins & Currency, Inc., located in Lancaster, Pennsylvania. The firm has operated on both a local and national level since 1974. Steinmetz is well known at the national level for his expertise and experience gained since beginning in the business as a teenager.<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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