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

2079

1795 1C Plain Edge. MS62 Brown PCGS. S-76b,

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1795 1C Plain Edge. MS62 Brown PCGS. S-76b,
<B>1795 1C Plain Edge. MS62 Brown PCGS. S-76b, B-4b, R.1.</B></I> <B>Bland MS60; tied for CC-8. Noyes MS60; tied for CC-12. Photo #26946. Our EAC Grade MS60.<BR><BR>Equivalents.</B></I> Proskey 5; Doughty 66; McGirk 1B, 1C; Clapp-Newcomb 4a; EAC 4; <I>Encyclopedia</B></I> 1674; PCGS #1380.<BR><B><BR>Variety. </B></I>Tip of the 5 pierces the bust. ONE CENT high inside the wreath. The obverse appears on S-76a, S-76b, S-77, and NC-3. The reverse appears on S-76a, S-76b, and NC-2. Plain Edge.<BR><B><BR>Surfaces. </B></I>This is a lovely example of the plentiful Plain Edge subvariety. The surfaces have splendid olive-brown color with few imperfections. Somewhat weakly struck at the upper obverse and lower reverse, with UN completely obliterated as often seen. Lighter tan is faded from original color. Glossy and reflective fields are evident on the obverse and reverse.<BR><B><BR>Die State V.</B></I> Die defects are mostly obliterated due to heavy lapping to remove previous clash marks. The obverse has a thin pole that remains connected to the neck. The reverse has certain features described for Die State VII. The right ribbon bow is separated from the left, and the right stem and ribbon end are separated from the knot.<BR><B><BR>Appearances.</B></I> The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> At least a dozen Mint State examples of this variety exist, including this one.<BR><B><BR>Commentary.</B></I> In the September 1946 issue of <I>The Numismatist,</B></I> a reader asked why 1795 cents and half cents exist on both thick and thin planchets, with a related variance in weight. The editor, or someone writing on his behalf, answered that it was probably due to the poor condition of Mint machinery and a similar poor rolling technique. Another reason was given as the purchase of Talbot, Allum & Lee tokens "which were cut to half cent size and restruck as half cents without further preparation." In the case of cents, "the fact that some were struck in collars and some without collars produced variation in the thickness of the finished product."<BR><BR>George Clapp immediately recognized the incorrect response, and replied with the correct response: "On January 28, 1796, President Washington issued a ‘Proclamation' in which he said inter-alia" ‘Whereas, on account of the increased price of copper and expense of coinage I have thought it would be for the benefit of the United States to reduce the weight of copper coin of the United States 1 penny-weight and 16 grains in each cent and in like proportion in each half cent and the same has since the 27th day of December last been reduced accordingly.' "<BR><BR><B>Provenance.</B></I> <I>New England Rare Coin Auctions (7/1976), lot 413, $825; Gary Sturtridge (The House of Stuart, Ltd.); later, Vintage Auctions (2/1989), lot 148, $2,850; Julian Leidman; Superior (2/1991), lot 675; Julian Leidman; Joe Dooley; McCawley and Grellman (1/1997), lot 208, $4,620; Stuart MacDonald (Heritage, 9/1997), lot 5085, $5,060; Thomas D. Reynolds; Wes Rasmussen (Heritage, 1/2005), lot 3088, $6,900.</B></I><BR><BR><B>Personality.</B></I> <B>Stuart "Mac" MacDonald,</B></I> a Michigan native and materials pioneer, is best known to the wider world for his innovations with plastics. His wide-ranging numismatic collection, offered by Heritage in September 1997, was sold after his passing. An 1800 NC-3 was one of many highlights.<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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