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2095

1796 1C Draped Bust, Reverse of 1797. Fine 12

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1,100.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1797. Fine 12
<B>1796 1C Draped Bust, Reverse of 1797. Fine 12 PCGS. S-94, B-30, High R.5. </B></I> <B>Noyes VG7; CC-16. Photo #26698. Our EAC Grade VG8.<BR><BR>Equivalents.</B></I> Proskey 12; Doughty 82; Gilbert 33; McGirk 8C; Clapp-Newcomb 26; EAC 30; <I>Encyclopedia</B></I> 1693; PCGS #1407.<BR><B><BR>Variety. </B></I>Hyphen die chip between 7 and 9. Reverse of 1797. Small fraction, leaf joins left base of final A. The obverse appears on S-93, S-94, S-95, S-96, NC-2, and NC-3. The reverse appears on S-94.<BR><B><BR>Surfaces. </B></I>The surfaces are slightly rough from corrosion on both sides, and there are faint hairline scratches visible with a loupe where the fields were expertly smoothed. On the reverse there are a couple of minor rim ticks, one above the D, the others between RI and above the C. A spot was probably scratched off from the center of E of CENT.<BR><B><BR>Die State I. </B></I>Only one die state is recorded by Breen, featuring heavy obverse clash marks that are visible on this piece, even through the slight corrosion. An obverse crack through ER is evident with just slight imagination.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> Finest known for the variety grades just XF40, and the traditional Census of the six finest dips down to the Fine 15 grade.<BR><B><BR>Commentary.</B></I> The S-94 is an important rarity in the series of 1796 Draped Bust cents, with just over 30 examples known. Bill Noyes records 24 coins that grade down to the Fair-2 grade level. In <I>Early American Cents</B></I>, Sheldon called this variety Rarity-5, based on nine different examples owned by Hines and Clapp. By the time of <I>Penny Whimsy</B></I>, it was realized that the two collectors owned nearly half of the entire population, but by that time the variety was underrated because of the earlier rarity estimate. Today, half a century later, its true rarity is just beginning to be realized.<BR><B><BR>Provenance.</B></I> <I>Willard C. Blaisdell (1/1971); Jules Reiver (Heritage, 1/2006), lot 19271.</B></I><BR><B><BR>Personality.</B></I> <B>Jules Reiver</B></I> was born in Wilmington, Delaware, on September 25, 1916, and died there on February 11, 2004. Reiver was a collector and researcher who formed an extensive collection of copper and silver coins by die variety, nearly completing collections in all denominations. He was a veteran of World War II, an engineer, and worked many years in the family carpet business. Reiver participated in the 1985 Coinage of the Americas Conference and published several variety reference guides, including the original late date cent reference that has revolutionized attribution of that series. Reiver discovered the 1797 NC-7 large cent variety. The Reiver Collection was sold by Heritage in 2006.<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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