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

2110

1796 1C Draped Bust, Reverse of 1794. MS60

Currency:USD Category:Coins & Paper Money / US Coins Start Price:2,800.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1794. MS60
<B>1796 1C Draped Bust, Reverse of 1794. MS60 Details, Corroded, Scratched, ANACS. S-109, B-15, R.3.</B></I> <B>Bland VF35; tied for CC-2. Noyes VF30; tied for CC-3. Photo #21576. Our EAC Grade VF35.<BR><BR>Equivalents.</B></I> Proskey 22; Doughty 92; Gilbert 6; McGirk 12B; Ross 6E; Clapp-Newcomb 6; EAC 15; <I>Encyclopedia</B></I> 1685; PCGS #1404.<BR><B><BR>Variety. </B></I>Date close and curved. 96 lean left. Reverse of 1794. Variable die chips below E of UNITED. The obverse appears on S-109. The reverse appears on S-106, S-107, S-108, S-109, S-110, and S-111.<BR><B><BR>Surfaces.</B></I> Cleaned and recolored with glossy light brown surfaces that exhibit traces of faded orange, but not original mint color. The obverse has a noticeable scratch. However, the coin is technically Mint State, and the sharpest example of the variety that is known.<BR><B><BR>Die State III.</B></I> The obverse has a light crack through the date, and another through the T. The lump below E is still relatively small. This die lump enlarges substantially in later states of the die.<BR><B><BR>Appearances.</B></I> The obverse and reverse are illustrated in Noyes (1991 and 2007).<BR><B><BR>Census.</B></I> Second or third finest, depending on whose Census is preferred. Bland and Noyes each assign the sharpness of MS60, deducting substantially for the obverse scratch. This coin is tied with an ANS coin for third finest, according to Noyes, with his second best specimen also in the ANS.<BR><B><BR>Commentary.</B></I> While it would easily be finest known if the obverse had not been scratched, there is probably universal agreement that some point deduction is necessary. The question is how much. Noyes simply divides the grade by two, and assigns a VF30 net grade, more or less his formula for coins that he calls scudzy. Bland is slightly more generous, deducting 25 points. Ask 50 knowledgeable collectors or dealers for their net grade of this piece, and we suspect every grade would be mentioned from about VF20 to AU50. <BR><B><BR>Provenance.</B></I> <I>Ed. Frossard (11/1882), lot 181, $11.50; E.F. Kuithan; Ed. Frossard (6/1883), lot 253, $11.25; later, S.H. Chapman (6/1913), lot 480, $22; Henry C. Hines; Dr. William H. Sheldon (4/1972); R.E. Naftzger, Jr. (2/1992); Eric Streiner (12/1993); John Whitney (Stack's, 5/1999), lot 1744, $8,625.</B></I><BR><BR><B>Personality.</B></I> <B>Édouard Frossard</B></I> (1837-1899) was born in Switzerland and immigrated to the U.S. in 1858. He was a veteran of the Civil War, wounded twice and cited for bravery several times. Adams writes: "Frossard early on demonstrated the impetuosity which characterized much of his professional life." During his numismatic career that began in 1877, Ed. Frossard conducted 160 auctions, published a house organ titled <I>Numisma</B></I>, wrote <I>Monograph of the United States Cents and Half Cents 1793-1857</B></I>, and co-authored <I>Varieties of the United States Cents of the Year 1794</B></I> with William Wallace Hays. Adams discussed his series of sales: "Beginning with sale one in September 1878, the series is distinguished both by features and by content. ... In terms of content, the Frossard catalogs represent great variety and cumulatively, great knowledge. ... His comments regarding competitors and competitive practices, some of them quite lengthy, are highly amusing if nothing else."<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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