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

2102

1796 1C Draped Bust, Reverse of 1794. AU50 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,250.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1794. AU50 PCGS.
<B>1796 1C Draped Bust, Reverse of 1794. AU50 PCGS. S-101, B-25, Low R.5.</B></I> <B>Bland XF40; tied for CC-2. Noyes XF40; CC-2. Photo #39039. Our EAC Grade XF40.<BR><BR>Equivalents.</B></I> Gilbert 24; McGirk 11D; Clapp-Newcomb 22; EAC 25; <I>Encyclopedia</B></I> 1685; PCGS #1404.<BR><B><BR>Variety. </B></I>Digit 1 is crowded between curl and 7. 96 distant. Reverse of 1794. Double leaf at OF. The obverse appears on S-100, S-101, and NC-4. The reverse appears on S-101, S-102, and S-103.<BR><B><BR>Surfaces. </B></I>Wonderful olive and light brown surfaces with faint abrasions on each side, but no evidence of the corrosion so often seen on the 1796 cents. Slight tripling of RTY is evident on the obverse. Nicely detailed, but weakly defined at the lower right obverse border and the left reverse border.<BR><B><BR>Die State II.</B></I> The reverse is faintly cracked through AMERI, but the obverse crack of State III has not appeared yet.<BR><B><BR>Appearances.</B></I> The obverse and reverse are illustrated in Breen's <I>Large Cent Encyclopedia</B></I> and in Noyes (2007).<BR><BR><B>Census.</B></I> Finest known for the variety is a near-Mint State piece in the ANS Collection. This XF40 piece is the second finest, or finest in collectors' hands. Only one other coin, in the collection of Fred Borcherdt, is comparable, graded XF40 by Bland or VF35 by Noyes.<BR><BR><B>Commentary.</B></I> Although still considered a Rarity-5 variety, S-100 is not nearly as rare or elusive as some other 1796 Draped Bust varieties, yet it is still just as hard to find in nice quality. This is probably due to the planchet source, Governor and Company Copper Miners in Wales. The planchets were of poor quality, and the Mint used those blanks, also known as Coltman blanks, when no others were available.<BR><BR><B>Provenance.</B></I> <I>Dr. George P. French (B. Max Mehl, 1929 FPL), lot 131, $140; T. James Clarke (1944); B. Max Mehl (1948); Dr. William H. Sheldon; ANS; R.E. Naftzger, Jr. (2001).</B></I><BR><BR><B>Personality.</B></I> <B>R.E. Naftzger, Jr.,</B></I> a.k.a. "Ted" Naftzger, assembled the finest collection of large cents ever held in private hands. He bought a number of collections intact, retaining pieces that he desired and selling the remainder at auction, often under the name of the original collector. In April 1972 he bought the entire collection of Dr. Sheldon, and sold duplicates through New Netherlands Coin Co. in November 1973. The bulk of the Naftzger early-date collection was sold to Eric Streiner in 1992.<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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