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

2132

1797 1C Reverse of 1797. XF40 PCGS. S-129, B-24,

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1,100.00 USD Estimated At:1.00 - 1,000,000.00 USD
1797 1C Reverse of 1797. XF40 PCGS. S-129, B-24,
<B>1797 1C Reverse of 1797. XF40 PCGS. S-129, B-24, R.5.</B></I> <B>Bland VF20; tied for CC-3. Noyes VF20; tied for CC-3. Photo #23056. Our EAC Grade VF20.<BR><BR>Equivalents.</B></I> Proskey 17; Doughty 108; McGirk 16A; Clapp-Newcomb 12; EAC 24; <I>Encyclopedia</B></I> 1710; PCGS #1422.<BR><B><BR>Variety. </B></I>1, 7, and R all free, broken B. M corrected from E. The obverse appears on S-129, S-130, S-131, and NC-8. The reverse appears on S-128 and S-129.<BR><B><BR>Surfaces.</B></I> Light steel-brown with traces of olive color on both sides. The surfaces are smooth, with few imperfections aside from the usual minor handling marks associated with the grade.<BR><B><BR>Die State II.</B></I> The curved break that eventually develops behind the hair ribbon is only a faint outline in this die marriage. The reverse has several sets of clash marks.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated in Noyes (2007).<BR><B><BR>Census.</B></I> A rare variety, seldom found decent. Two examples just make the XF grade level per Bland, but grade high in the VF range per Noyes. This pleasing VF20 coin is tied with one other for third finest known. In 1949, Sheldon graded one specimen (probably the Newcomb-ANS coin) MS60, and he graded the same coin XF45 in 1958. Today, Bland grades the ANS coin XF40 and Noyes calls it VF35.<BR><B><BR>Commentary.</B></I> In <I>Early American Cents</B></I>, Sheldon described S-129 as "one of the famous and much sought rarities, since it was described and published by Proskey." When <I>Penny Whimsy</B></I> was published in 1958, it was considered Rarity-7, with just nine examples known, eight available to collectors. Today, the population is about 50 to 60 coins, almost all in lower grades.<BR><BR><B>Provenance.</B></I> <I>Flambeau Stamp & Coin Co. (1966 FPL), lot 66; C. Douglas Smith.</B></I><BR><BR><B>Personality.</B></I> <B>Flambeau Stamp & Coin Co.</B></I> is of interest to collectors for its July 1966 fixed-price catalog of early large cents. John D. Wright, in a footnote to his 1972 <I>Penny-Wise</B></I> article "A Survey of Large Cent Auctions: Part IV: Fixed-Price Offerings," suggests why Flambeau did not become prominent in the field: "Most overgraded and underpriced."<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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