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

2093

1796 1C Draped Bust, Reverse of 1795. AU55 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:4,250.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1795. AU55 PCGS.
<B>1796 1C Draped Bust, Reverse of 1795. AU55 PCGS. S-92, B-28, R.3.</B></I> <B>Bland XF45; tied for CC-6. Noyes VF35; tied for CC-11. Photo #25467. Our EAC Grade XF45.</B></I><BR><BR><B>Equivalents.</B></I> Proskey 17; Doughty 87; Gilbert 1; McGirk 5A; Ross 1A; Clapp-Newcomb 1; EAC 28; <I>Encyclopedia</B></I> 1688; PCGS #1401.<BR><BR><B>Variety. </B></I>96 are close with the 6 leaning sharply right. Reverse of 1795. ONE far above CENT. The obverse appears on S-92 and NC-1. The reverse appears on S-92.<BR><BR><B>Surfaces. </B></I>A wide double profile is noted from Liberty's forehead, down nearly to the chin, with additional doubling on RTY. Mostly medium greenish-brown in the fields with hints of lilac on the devices. A small spot of darker steel toning is visible on the neck, near the earlobe. Both sides are lightly abraded, although nearly all of the surface marks are close to the weakly defined borders, suggesting that they are original planchet marks not fully obliterated when the coin was struck. A few tiny rim nicks are evident, but of little overall significance.<BR><BR><B>Die State III.</B></I> An intermediate die state. The obverse is cracked through the bases of RTY, well into the field right of the Y, and through the tops of BER. A small spur is visible from the right top of the 9. Both sides have several sets of clash marks, at least four and possibly as many as six sets.<BR><BR><B>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><BR><B>Census. </B></I>Bland includes two Mint State coins and three AU pieces as the top five coins in his Census. Five others, including this coin, are each graded XF45 and tied for sixth finest known. Two of those five are in the ANS Collection, diminishing the available supply to collectors. The lower grade by Noyes suggests that he may feel the coin has been recolored.<BR><BR><B>Commentary.</B></I> A strong argument could be made that this is more than just a doubled profile, but that the obverse is double struck. In addition to the wide separation on the profile, doubling is also evident of RTY, with the doubling on the Y separated as widely as on the profile.<BR><BR><B>Historical Note.</B></I> Once new dies were ready, coinage of the Draped Bust cents began in November 1796, using a new supply of copper planchets imported from Governor & Company of Copper Miners of England. Although the firm claimed a high-quality product in correspondence with Mint Director Elias Boudinot, the actual copper that was received required cleaning before it could be used. It was this barely acceptable source of copper that accounts for the usual dark and porous appearance of surviving 1796 Draped Bust cents. High-quality pieces such as this example are seldom encountered.<BR><BR><B>Provenance.</B></I> <I>Dr. James O. Sloss (9/1958); R.E. Naftzger, Jr.; Abe Kosoff (10/1959), lot 31, $400; R.E. Naftzger, Jr.; Myles Z. Gerson; Dr. Dane B. Nielsen; Dr. Philip W. Ralls (3/1982); Robinson S. Brown, Jr. (Superior, 9/1986), lot 120, $1,980; Charles E. Harrison; Superior (2/2002), lot 1160, $5,175; Anthony Terranova.</B></I><BR><BR><B>Personality.</B></I> An attorney in Chicago, <B>Charles E. Harrison</B></I> joined Early American Coppers in 1972. His membership was reported in the July 1972 issue of <I>Penny-Wise</B></I>.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot