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

2122

1797 1C Reverse of 1795, Gripped Edge. Double

Currency:USD Category:Coins & Paper Money / US Coins Start Price:13,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1797 1C Reverse of 1795, Gripped Edge. Double
<B>1797 1C Reverse of 1795, Gripped Edge. Double Struck. AU53 PCGS. S-120b, B-2b, R.2.</B></I> <B>Bland AU50; tied for CC-4. Noyes AU50; CC-3. Photo #24234. Our EAC Grade AU50.<BR><BR>Equivalents.</B></I> Proskey 2; Doughty 94; McGirk 2A, 2B, 2C, 2D; Clapp-Newcomb 2; EAC 2b; <I>Encyclopedia</B></I> 1701; PCGS #1416.<BR><B><BR>Variety. </B></I>Wide date, 97 close. Reverse of 1795. The obverse appears on S-120a and S-120b. The reverse appears on 1796 S-90, 1797 S-120, S-121, and NC-1. Gripped Edge.<BR><B><BR>Surfaces. </B></I>Double struck with slight rotation between the first and second strike. The 97 are visible on top of the drapery at the front of the bust. Much additional detail is visible from both strikes on both sides. Medium olive with traces of luster and subtle iridescent toning. The surfaces are nicely preserved, and the overall eye appeal is exceptional. Not only a wonderful error, but also a splendid 1797 cent. A showpiece and a wonderful "story coin."<BR><BR><B>Die State II.</B></I> The reverse bulge appears extended due to the doubled strike. This strike also has an amazing effect on the appearance of the clash marks in and around the wreath.<BR><BR><B>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><BR><B>Census.</B></I> Third finest known; the two finer ones are only marginally better at AU55, according to Noyes. He considers the Hills-ANS coin to be slightly better than the double-struck Williams-Naftzger specimen, which in turn is slightly finer than the double-struck Husak piece. It is fascinating that the two finest examples of S-120b in collectors' hands are both double-struck.<BR><BR><B>Commentary.</B></I> Breen speculated that the Gripped Edge coins were from planchet shipments made by William Coltman's firm, Governor & Company of Copper Miners, located in Wales. These planchets were poorly made, and arrived in an entirely unsatisfactory condition, requiring extensive cleaning or scouring to make them usable. The apparently also had to be run through the upsetting machine to raise the rim before they could be struck. Breen speculated that the Gripped Edge and Beaded Edge coins were both Coltman blanks from two different batches, with the distinctive edge device imparted to tell them apart. <BR><BR><B>Provenance.</B></I> <I>Coin Galleries (11/1981), lot 1358, $1,150; C. Douglas Smith; Bertram Cohen (3/1984); G. Lee Kuntz (Superior, 10/1991), lot 133, $5,500; John R. Frankenfield (Superior, 2/2001), lot 345, $12,650.</B></I><BR><BR><B>Personality.</B></I> A native of Boston, <B>Bertram Cohen</B></I> collects presidential memorabilia, collector toys, and marbles. He is a world-renowned collector and expert in the latter field. He is the brother of Jerry Cohen, a coin dealer who operated out of California with Abner Kreisberg.<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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