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

2118

1796 1C Draped Bust, Reverse of 1797. XF45

Currency:USD Category:Coins & Paper Money / US Coins Start Price:550.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C Draped Bust, Reverse of 1797. XF45
<B>1796 1C Draped Bust, Reverse of 1797. XF45 Details, Corroded, ANACS. S-117, B-37, High R.5. </B></I> <B>Noyes VG8; tied for CC-10. Photo #56579. Our EAC Grade VG8.<BR><BR>Equivalents.</B></I> Proskey 14; Doughty 84; Gilbert 13; McGirk 8A; Ross 12I; Clapp-Newcomb 12; EAC 37; <I>Encyclopedia</B></I> 1695; PCGS #1407.<BR><B><BR>Variety. </B></I>Date is widely spaced and straight. Reverse of 1797. Die chip above E in AMERICA. The obverse appears on S-117. The reverse appears on S-117 and NC-6.<BR><B><BR>Surfaces. </B></I>The surfaces are moderately and evenly corroded with natural and pleasing olive-brown color. Sheldon cataloged the Dupont cents for Stack's in 1954, and at the time he noted: "Sharpness of a Fine coin. Considerable roughness evenly distributed over the surface, but an unusually well struck and evenly balanced piece. Natural olive-steel. Reverse as sharp and as pretty as any impression from this die known. This variety comes practically always on poor, rough planchets, and invariably with UNITED weak."<BR><B><BR>Die State III or earlier.</B></I> The exact die state is difficult to determine because of the surface quality, but is no later than Die State III as there is no evidence of any obverse rim breaks.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> This variety was labeled Rarity-7 in the Dupont Catalog, and still R-7 when Sheldon published <I>Penny Whimsy</B></I> in 1958. At that time, he had accounted for just 12 examples with two of those in the ANS. In 1958, it was at the low end of the Condition Census, although today it ranks ninth in the quality lineup, per Bill Noyes.<BR><B><BR>Commentary.</B></I> Walter Breen discussed the relationship between surface quality and die state, an attribute of the S-117 die marriage: "Usually in low grade and on rough flans. This explains why the cracks of states III and IV were not known until after the rim breaks of states VI and VII were discovered."<BR><BR><B>Provenance.</B></I> <I>Charles J. Dupont (Stack's, 1954), lot 151; Willard C. Blaisdell; Del Bland (1989); Richard V. Punchard; Wes Rasmussen (Heritage, 1/2005), lot 3134, $2,070.</B></I><BR><BR><B>Personality.</B></I> <B>Richard Punchard</B></I> is known for his discovery of the 1822 Newcomb-14 cent variety. He was born on December 27, 1932, in Minneapolis, Minnesota. Employed as a heating and air conditioning contractor, he formed an extensive collection of large cents with emphasis on die states. Remainders from his cent collection were sold by Bowers and Merena in 1996, and his library was sold by Remy Bourne in 1997.<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