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

2181

1798 1C Second Hair, Reverse of 1795. VF35 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:35,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1798 1C Second Hair, Reverse of 1795. VF35 PCGS.
<B>1798 1C Second Hair, Reverse of 1795. VF35 PCGS. S-178, B-26, High R.5.</B></I> <B>Bland VF30; CC-1. Noyes VF20; CC-2. Photo #21802. Our EAC Grade VF25.<BR><BR>Equivalents.</B></I> McGirk 1C; Clapp 38; EAC 26; <I>Encyclopedia </B></I>1728; PCGS #1428.<BR><B><BR>Variety. </B></I>Style II Hair. LIBERTY wide, LI close. Reverse of 1795, leaf pair at UN. The obverse appears on S-176, S-177, and S-178. The reverse appears on 1796 S-81 and 1798 S-178.<BR><B><BR>Surfaces.</B></I> This is an extraordinary specimen with solid XF sharpness. Deep olive surfaces with some light tan color, and traces of maroon patina. A few ancient scratches near the right ribbon and some roughness outside the legend to the left are the only defects. Plain Edge.<BR><B><BR>Die State III. </B></I>Heavy rust is visible on the obverse, with the vertical crack heavy, and parallel die cracks through the date, perhaps early State IV. The reverse remains perfect.<BR><B><BR>Appearances. </B></I>The obverse and reverse are illustrated by McGirk in the June 1913 issue of <I>The Numismatist</B></I>, page 305, in Noyes (1991), and in Breen's <I>Large Cent Encyclopedia</B></I>.<BR><BR><B>Census. </B></I>This rare variety is generally only available in VG or lower grades. The Husak specimen and the Dupont coin are the only two VF examples known.<BR><BR><B>Commentary. </B></I>This is the discovery coin for the variety, plated in the McGirk study. Sheldon-178 is the only variety that combines the Second Hair obverse with the Reverse of 1795. The combination should be honored with a separate listing in the <I>Guide Book</B></I> as a distinctive major design combination. <BR><BR><B>Provenance. </B></I><I>James A. Walker; unidentified Philadelphia dealer; Charles J. Dupont; Stack's via trade for the Hines specimen of this variety (1954); Dr. William H. Sheldon (4/1972); R.E. Naftzger, Jr. (2/1992); Eric Streiner; C. Douglas Smith; Dr. Robert A. Schuman; Superior (5/2003), lot 476, $27,600;</B></I> <I>W.M. "Jack" Wadlington;</B></I> <I>Chris Victor-McCawley (7/2005).</B></I><BR><BR><B>Personality. Joseph Germon</B></I> (a.k.a. Joseph German) was a drawer according to the October 10, 1795, Mint payroll. The drawer worked with planchet strip before it was punched. Ingots were rolled to proper thickness through the primitive rolling mills, then sent to the draw bench to "even out irregularities" according to Craig Sholley.<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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