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

2108

1796 1C Draped Bust, Reverse of 1794. Fine 12

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1794. Fine 12
<B>1796 1C Draped Bust, Reverse of 1794. Fine 12 PCGS. S-107, B-13, R.5.</B></I> <B>Bland VG-7; tied for CC-7. Noyes VG7; CC-6. Photo #35600. Our EAC Grade VG7.<BR><BR>Equivalents.</B></I> Gilbert 17; McGirk 12D; Clapp-Newcomb 17; EAC 13; <I>Encyclopedia</B></I> 1684; PCGS #1404.<BR><B><BR>Variety. </B></I>Italic date. All digits lean right. Reverse of 1794. Variable die chips below E of UNITED. The obverse appears on S-107. The reverse appears on S-106, S-107, S-108, S-109, S-110, and S-111.<BR><B><BR>Surfaces. </B></I>The surfaces are light tan with considerable olive and steel toning, especially on the reverse. A few old dents and abrasions are present, along with some minor reverse scratches.<BR><B><BR>Die State II.</B></I> This late die state has a heavy rim break joining both serifs of Y to the border and extending along the rim past 2 o'clock. This rim break is 8.75 mm long.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> This cent seems to fall at the low end of the Census. Del Bland placed it in a tie for seventh finest known at VG7, although he had not actually seen the coin. The next point, VG8, moves this up to a fifth place tie among the best known examples. Finest for the variety is just VF20.<BR><B><BR>Commentary.</B></I> Despite a modest Rarity-5 rating today, this variety was considered a major rarity in Sheldon's day. He rated it Rarity-7 in <I>Penny Whimsy,</B></I> noting that just seven examples were in collectors' hands, and one other in the ANS. In the 1973 "Early Cent Revision," it was rated Rarity-6.<BR><BR>The change in Census data, and perhaps grading standards, is illustrated by the following comparison:<BR><BR><I>Penny Whimsy</B></I> (1958): 20-12-12-10-8-8; "Early Cent Revision" (1973): 20-15-12-12-10-10; Noyes (1991): 20-10-10-8-8-7; Bland (2000): 20-15-12-12-8-8; Noyes (2007): 20-10-10-10-8-7<BR><BR><B>Provenance.</B></I> <I>Bob Maccaa (1974); Scott Williams (4/1998); Wes Rasmussen (Heritage, 1/2005), lot 3123, $4,025.</B></I><BR><BR><B>Personality.</B></I> <B>William Healy</B></I> (a.k.a. William Hayley) signed the January 1793 Mint Rules and Regulations document. He was listed on the October 10, 1795, and January 1796 Mint payrolls as a roller, supervising preparation of planchet strip from ingots. He may have immigrated to Philadelphia circa 1785.<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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