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

2111

1796 1C Draped Bust, Reverse of 1794. AU55 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,750.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1794. AU55 PCGS.
<B>1796 1C Draped Bust, Reverse of 1794. AU55 PCGS. S-110, B-16, High R.2.</B></I> <B>Bland XF45; CC-5. Noyes XF40; CC-5. Photo #24004. Our EAC Grade XF40.<BR><BR>Equivalents.</B></I> Proskey 19; Doughty 89; Gilbert 5; McGirk 12A; Ross 5D; Clapp-Newcomb 5; EAC 16; <I>Encyclopedia</B></I> 1687; PCGS #1404.<BR><B><BR>Variety. </B></I>LI repunched left. 96 joined by crack. Reverse of 1794. Variable die chips below E of UNITED. The obverse appears on S-110 and S-112. The reverse appears on S-106, S-107, S-108, S-109, S-110, and S-111.<BR><B><BR>Surfaces. </B></I>Splendid medium olive with splashes of reddish-brown on each side. Possibly cleaned and recolored. The surfaces are excellent with only a few grade-consistent abrasions. A small planchet flaw is obvious in the left obverse field.<BR><B><BR>Die State VII.</B></I> A later die state with numerous obverse die cracks. The rim break of the latest die state has not appeared, but the area it encompasses is completely defined by heavy cracks.<BR><B><BR>Appearances.</B></I> The Breen plate coin is incorrectly identified as this specimen. The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> The S-110 is clearly the most common of all 1796 Draped Bust varieties, with two Mint State pieces known, according to Bland. The Mint State pieces are followed by two AU examples and this XF45. Rounding out the top six in Bland's Census are three coins tied at XF40. Noyes also considers the Husak coin fifth finest, and both agree that one finer example is in the ANS Collection.<BR><BR><B>Commentary.</B></I> Like nearly all 1796 Draped Bust cents, coins of less than average quality are the rule, not the exception, but this coin is an exception. Noyes rates the surfaces "average plus," placing it among few that have been given such an honor. For all 1796 Draped Bust varieties, Noyes records 585 different specimens, all finest of their kind, and less than 100 are called average plus or choice.<BR><BR><B>Provenance.</B></I> <I>Thomas L. Elder (12/1914), lot 626, $13; Wayte Raymond; C.T. Mayfield; Stack's (1/1958), lot 566, $102.50; George W. Rodgers; Bill Juchnik (6/1971); Robert E. Vail (11/1988); Del Bland; Dr. Philip Ralls; EAC (4/2002), lot 209, $9,500.</B></I><BR><BR><B>Personality.</B></I> <B>John Schreiner</B></I> (a.k.a. John Shreiner) was a pressman at the Mint for many years. He signed the January 1793 Mint Rules and Regulations document, and his name appears on several Mint payroll documents through 1816, and probably beyond. The January 1796 payroll specifically identified Schreiner as a "pressman of gold coins." Pennsylvania marriage records reveal that a John Schreiner was married to Elizabeth Dannecker on May 25, 1790, at the German Reformed Church in Philadelphia.<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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