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Lot: 1407
Auction: 1114   		1796 10C Good 6 PCGS. CAC....
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Ended: Jul 30, 2008
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Description
Extremely Rare Perfect Obverse 1796 JR-1 Dime, Good 6


1796 10C Good 6 PCGS. CAC. JR-1, R.8 in early die state. An impressive example for the grade, this piece exhibits natural grayish-tan patina on both sides, accented by hints of light blue toning. Critical examination with magnification reveals myriad tiny scratches and circulation marks that are expected for the grade; they are mostly invisible to the naked eye. While considerable wear is evident, the central obverse and reverse motifs exhibit traces of detail, at the lower hair curls on the obverse and the eagle's left (facing) wing on the reverse. The date, stars, LIBERTY, and reverse legend are all complete, although the border is merged into the top of some elements. Strict application of ANA grading standards suggest a grade of VG8, with the PCGS grade considering the minor imperfections on each side.

Die State. Just three examples are known of the "perfect" obverse die state, without the usual rim break joining star 1. The other two known examples both have a slight die crack from the border to star 1, and the present piece probably has a similar crack, although it is invisible due to wear.

Condition Census
1. Gem Mint State. Empire Collection (Stack's, 11/1957), lot 728; James Hayes Collection (Stack's, 10/1985), lot 16; John Whitney Collection (Stack's, 5/1999), lot 1763.
2. Fine 15. Coin Galleries (11/1997), lot 2815; American Numismatic Rarities (9/2005), lot 232. In 2005 American Numismatic Rarities described the coin as "Net F-15, sharpness of VF-25 with a striated planchet and some light scratches." The cataloger continued: "Some planchet granularity and light striations may be seen, with some peripheral roughness from apparent environmental damage."
3. Good 6. The present specimen. Norman Pullen (3/1994); Ed Price.

Appearances. The Ed Price Collection sale is the first public appearance of this example.

Obverse Die. In the date, the 1 is close to the curl, and the 6 is high and out of position, its top joined to the drapery. Star 1 has two points appearing to touch the lowest curl, the lower point touching and the upper point extremely close. Star 8 is distant from L, star 9 is slightly closer to Y, and star 15 is even closer to the drapery, but does not touch. LIBERTY is unevenly spaced with LI close, and the tops of TY extremely close. The curl point is beneath the left base of E.
State a. Only a slight crack joins star 1 to the border. No other die deterioration is evident. State b. A variable cud connects the bottom points of star 1 to the border. State c. A fine die crack crosses Liberty's shoulder to her neck and throat. The "arc-like crack" in the right obverse field that is described in the early dime book appears to be a clash mark. Several prominent clash marks are visible in the obverse fields.

Reverse Die. Leaf point below the right side of O, diagnostic for the Small Eagle reverse. The wreath has 17 leaves in the left branch, and 13 leaves in the right branch. A leaf tip joins the lower right corner of E in AMERICA, and another appears to touch the extreme left base of the final A. The tip of the left (facing) wing touches the rock.
State a. Perfect. State b. The reverse is cracked from the border through the E of AMERICA, the right branch, and the right (facing) wing tip, to join a vertical crack from the lowest inside right leaf tip to the right wing. Another crack bisects the C of AMERICA, crossing leaves into the rock. An additional crack from the right side of the eagle's breast extends across the head to the left terminal leaf. A few clash marks and other die lines may appear as additional die cracks. The order of appearance of the various reverse cracks is unknown.

Heritage Commentary. Because the authors of Early United States Dimes 1796 - 1837 (the "dime book") recorded JR-1 first, many numismatists consider JR-1 to be the first dime variety struck. If that is true, then the early die state pieces were the "first of the first." Three of the seven known 1796 varieties are unlinked to any others, so the exact emission sequence may never be known. If minor stylistic differences could be attributed to either Robert Scot or John Smith Gardner, the actual order of die production might be attainable.

The 1796 JR-1 dime is clearly the most plentiful of seven die marriages, and it probably represents close to half the entire known population of all 1796 dimes. However, just three examples of the early die state are known without the cud at star 1, an extraordinary opportunity for the specialist.

Consignor Commentary. I owned [the Fine 15] coin and considered it to be much less desirable than the Pullen piece that I kept.

Provenance. Norman Pullen (3/1994).
From The Ed Price Collection.(Registry values: P7) (#4461) View Entire Collection.
Auction Name: 2008 July-August Baltimore, MD (ANA) US Coin Signature Auction #1114
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-3497)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 6 Internet/mail bidders, 1,841 page views



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 1121, Lot 2121 Sunday, January 11, 2009 6 PCGS $3,737.50
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