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1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was di...

Lot: 19336, Auction: 2006 January Dallas, TX The Jules Reiver Collection Signature Auction #390

Sold for: $32,200.00 (includes BP )
Bid Source: Live: Floor
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You now have the opportunity to acquire very rare items that may not be auctioned again for some time by making an anonymous offer that will make the owner sell.
Ended: Jan 23, 2006
Item Activity: 9 Internet/mail bidders
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Description:

Unique Reiver Discovery 1797 NC-7 Cent

1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was discovered by Jules Reiver in 1968, and to this day it remains unique. No second example has been found, nor has there been even a rumor of another. Jules Reiver wrote about his experience in the November 1968 issue of Penny-Wise, page 216:
"Not too long ago I was attributing a 1797 large cent which grades almost Fine. The date is close. The planchet is dark and reasonably smooth. All of the devices and legends are sharp except 97, the point of the bust, UN of UNITED, and OF. In these areas the dies are obviously clashed or sinking. Evidence of die clashing is plainly seen from the neck to the jaw, in front of the eye, and behind the head. There is a triangular break through the T toward the R in LIBERTY. The R has a straight tail. On the reverse, there are five berries on each side of the wreath. There are stems, the right of which, if extended, would touch the left tip of A and bisect the C; and there is an engraver's mark from the fraction to the right ribbon. A curved break extends from the top serif of the crossbar in the E of AMERICA and passes through the uppermost serif of the E towards the R.
"Looking through the key (Table 12) in Penny Whimsy, I eliminated all varieties for attribution except the S-141. The reverse on my coin, however, did not match the reverse of the S-141. The tip of the leaf under the D reaches only the upright on the S-141, whereas on my coin the tip of the leaf reached the center of the D. So I was back where I started.
"Next, I studied the plate of each reverse very carefully. As I neared the end of the 1797's, I began to doubt my eyes and my ability. Then I came to Rev. S of the S-142. My coin was a perfect match for it, and the written description fit also. I couldn't understand how I had missed it the first time, until I checked the obverse which was not even close. I went back to the reverse and again checked each plate. There was no doubt about it. My coin was Rev. S.
"Now I began to realize that my coin was possibly a new variety. I very carefully checked each obverse of 1797 to see if the obverse of my coin matched an existing one or was a new die. When I came to Obv. 11 of S-133, I knew that it was the right one. I couldn't see a scratch from the B to the rim as on the S-133, but the V-shaped break through the T to the R clinched it. Obv. 11 is matched only with Rev. J, a stemless variety, in Penny Whimsy, and an Obv. 11-Rev. S combination is not mentioned.
"My specimen is evidently a later striking of Obv. 11. There is a heavy die crack from the rim at the level of the bust, to the lowest point of the neck, and then across the bottom of the neck. Another break starts at the rim below the lowest curl, then runs diagonally upward and to the right through the curls and shoulder towards the other break. I believe that these breaks link up and that the smaller section of the die sinks. The 9 of the date is weak, and the 7 is almost gone. The lower tip of the bust is very weak. The reverse is blank at this point, showing that there was insufficient pressure on stamping. Assuming that my coin represents a new variety, the die mating chart for the 1797's will need to be revised.
"My good friend, George Ramont, an expert on attributing large cents, checked the coin for me. I did not give him my conclusions, but let him attribute the coin one side at a time. He came up with the same results. Next, I showed the coin to Walter Breen who agreed with the attribution and entered the specimen in his notes as NC-7, a unique and new variety of 1797."
This article was immediately followed by a complete discussion of the new variety by Walter Breen. Breen also revised the emission order for this date based on this new discovery. Dark olive surfaces with splashes of steel color at the left obverse. The surfaces have only the faintest corrosion. Die sinking creates the localized weakness at 97 of the date, mentioned by Reiver in his article about this coin. A few tiny areas of bubbly red corrosion are visible on the reverse.
Ex: Carl Wattenbarger (8/1968). Envelope Included.(Registry values: N991) (#1422)

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Guides and Pricing Information:


Previous Prices from Heritage Auctions

Lot Date Grade Service Realized
Auction 1114, Lot 7168 Sunday, August 3, 2008 20 ANACS $276.00
Auction 455, Lot 7123 Wednesday, January 16, 2008 20 NGC $488.75
Auction 454, Lot 198 Saturday, January 12, 2008 20 PCGS $1,150.00
Auction 443, Lot 7017 Tuesday, July 17, 2007 20 ANACS $632.50
Auction 435, Lot 7051 Monday, May 14, 2007 20 ANACS $276.00
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PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

Price Guide*

Grade Coin World
(Coin Values)
Numismedia
Retail
Numismedia
Wholesale
Numismedia
NGC (nmn)
Numismedia
PCGS (nmp)
PCGS
Price Guide
15 --- $798 $665 $613 $613 $650
20 $1,500 $1,110 $925 $850 $850 $1,150
25 --- $1,208 $999 $920 $920 $1,350
*All information listed is intended to be as accurate as possible, but errors are possible. No item may be returned or refused based on this information which is provided as a service to our customers. You should contact each pricing source directly to determine the accuracy of this information.

Population Guide

Service Grade Population in this Grade Population of Higher Grade Population in All Grades Mintage Engraver
PCGS 20 12* 137* 205 897,510 Robert Scot
NGC 20 4 75 100
*This information is provided and owned by PCGS. Its display and use are subject to the licensed agreement between PCGS and Heritage Auction Galleries.

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Large Cents, 1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was di...


Large Cents, 1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was di...


Large Cents, 1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was di...


Large Cents, 1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8--Environmental Damage--NCS. VF Details. VG8 EAC. This unique variety was di...

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