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

2104

1796 1C LIHERTY. AU58 PCGS. S-103, B-27, High

Currency:USD Category:Coins & Paper Money / US Coins Start Price:18,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 1C LIHERTY. AU58 PCGS. S-103, B-27, High
<B>1796 1C LIHERTY. AU58 PCGS. S-103, B-27, High R.4.</B></I> <B>Bland AU50; CC-3. Noyes XF45; CC-3. Photo #36304. Our EAC Grade XF45.<BR><BR>Equivalents.</B></I> Gilbert 9; McGirk 11C; Ross 9F; Clapp-Newcomb 8; EAC 27; <I>Encyclopedia</B></I> 1686; PCGS #1413.<BR><B><BR>Variety. </B></I>LIHERTY. Reverse of 1794. Double leaf at OF. The obverse appears on S-103 and S-104. The reverse appears on S-101, S-102, and S-103.<BR><B><BR>Surfaces. </B></I>A lovely piece with considerable cartwheel luster on each side. The surfaces range from light tan to medium chocolate. Close inspection will reveal a few tiny surface marks, but they are nearly meaningless when the whole coin is considered. <BR><B><BR>Die State II.</B></I> All three reverse cracks described by Breen are present on this piece, although in some instances they are so faint that overlooking them would be easy.<BR><B><BR>Appearances.</B></I> The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> A single example of the S-103 variety is known in Mint State, a near-Gem coin discovered in Europe over a decade ago. An AU example is second best, followed by this coin, the only XF example available to collectors. Fourth finest is the ANS specimen, which Noyes grades XF40. Del Bland considers a different specimen to be fourth best, whose reverse is illustrated in <I>Early American Cents</B></I>.<BR><B><BR>Commentary.</B></I> The present specimen is graded XF45 by Noyes, who rates the surfaces Average. Apparently his idea of an "average" 1796 Draped Bust cent is much different than this cataloger's opinion of an "average" coin. The cataloger feels that this piece is significantly finer than an average example of the date.<BR><BR>Sheldon-103 and S-104 are the famous LIHERTY coins, made from a single obverse die that was blundered, with the B first cut inverted, then corrected. The result is four serifs, or the appearance of an H. This variety is listed in the <I>Guide Book,</B></I> as it has been for many years. The result is increased demand from type and major variety collectors. This piece is at once the third finest of the S-103 variety and the third finest of the LIHERTY type. <BR><BR><B>Provenance.</B></I> <I>R.H. Schwartz (Abe Kosoff, 10/1961), lot 118; Hollinbeck-Kagin Coin Co.; 1964 ANA (Federal Brand, 8/1964), lot 55; Hollinbeck-Kagin Coin Co.; later, Bowers and Merena (3/1998), lot 140; Anthony Terranova; Denis W. Loring; Robert C. Clark (Bowers and Merena, 8/2000), lot 257; Al Boka (10/2007).</B></I><BR><BR><B>Personality.</B></I> <B>Isaac Hough</B></I> served as a clerk in the Mint office, supporting the director and assayer. Several different individuals named Isaac Hough appear in 18th century records. The most likely candidate seems to be Isaac Hough, son of Isaac and Edith (Hart) Hough, who was born in Bucks County, Pennsylvania, on September 15, 1759, and died in Philadelphia on March 17, 1801.<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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