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

2115

1796 1C Draped Bust, Reverse of 1797. XF40 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1,700.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1797. XF40 PCGS.
<B>1796 1C Draped Bust, Reverse of 1797. XF40 PCGS. S-114, B-42, Low R.5.</B></I> <B>Bland VF20, tied for CC-5. Noyes VF20; tied for CC-5. Photo #35826. Our EAC Grade VF20.<BR><BR>Equivalents.</B></I> Gilbert 30; McGirk 9E, 9F; Clapp-Newcomb 25; EAC 42; <I>Encyclopedia</B></I> 1697; PCGS #1407.<BR><B><BR>Variety. </B></I>Top of the 6 overlaps the drapery, not buried. Reverse of 1797. Fraction bar only over 00. 1 is far left. The obverse appears on S-114. The reverse appears on S-113, S-114, and S-115.<BR><B><BR>Surfaces. </B></I>Pleasing olive and dark brown surfaces with the usual tiny abrasions that are expected at the grade level. The obverse has a small rim bruise at 8 o'clock.<BR><BR><B>Die State I. </B></I>The reverse has a minor crack to the right top of the second T in STATES.<BR><BR><B>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><BR><B>Census.</B></I> Noyes identified this piece in his Census as "LB6/97" without mentioning either of its auction appearances. The top examples that Noyes records are the Whitney AU50, the ANS XF45, a VF30 in the Fred Borcherdt Collection, a VF25 in the Frank Stillinger Collection, and seven different coins that are all tied for sixth finest, with a grade of VF20.<BR><BR><B>Commentary.</B></I> Emission sequence and die state study clearly show that this variety was struck after 1797 NC-5, which uses the same reverse die. That means that S-114 must have been coined in 1797. It follows that S-115 was also produced in 1797. The S-114 has remained Rarity-5 since its publication in <I>Early American Cents</B></I>, 60 years ago.<BR><BR><B>Provenance.</B></I> <I>Dr. George P. French; later, Dr. Charles L. Ruby (Superior, 2/1974), lot 454; later, Stack's (1/1997), lot 416.</B></I><BR><BR><B>Personality.</B></I> <B>Martin Summers</B></I> was the doorkeeper or doorman at the Mint from at least October 10, 1795, until his death in 1804. The doorkeeper was essentially the Mint's security man. It is believed that Summers was born in Germany in 1740, immigrating to Philadelphia on September 22, 1752, with his father George. He and his wife, Anna, had three children, Philip, Henry, and Elizabeth. Philip Summers (1770-1824) assumed his father's position as doorman upon the latter's death.<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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