1787 COPPER New York Excelsior Copper, George Clinton MS63 Brown NGC. Crosby Plate VIII Number 5, Figure 62, Breen-989, W-579...
Bid InformationFor your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.
Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of BiddersThis number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.
Reserve (If Any) Not Posted Yet:
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
Consignor Has Not Yet Submitted a Reserve:
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Our Auction Results Archives now allow our members to make anonymous offers on items that may not be auctioned again for some time. Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell.
Heritage retains 10% (minimum $40 per lot) of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
BP - Buyer's Premium per LotA Buyer's Premium will be added to each successful bid. For this sale: 17.5% of the successful bid (minimum $14) per lot. Please see #2 in our Terms & Conditions.
Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
- You may take up to four (4) months to pay the balance (monthly payments of at least 1/4th of invoice total).
- Interest is calculated at only 1% per month (12% annually) on the unpaid balance, and must be kept current.
- Minimum down payment is 25% within two weeks of the sale date. All down payments made beyond this 2 week window will require a 35% down payment, and the term will be shortened to 3 months.
- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
- All payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
- All payments must be made using one or a combination of the following payment methods: cash, check, cashier's check, eCheck, money order, or bank draft.
- There is no penalty for paying off early.
- Non-dealers only
- With pre-approved credit application
All traditional sales policies still apply. Due to the nature of the business and market volatility, there is no return privilege once you have confirmed your sale, and penalties can be incurred on cancelled orders.
- Get pre-approved by filling out a credit application.
- Bid normally and win some lots.
- Heritage will maintain possession of all the lots until paid in full. Therefore, you must notify us of your intent to use our Extended Payment Plan on or before the day of the auction. All pre-shipped material must be returned to Heritage in order for the plan to be in effect.
- When you get your electronic invoice, select "other" from the payment options.
- Send an e-mail to EPPGroup@HA.com indicating the invoice number and your intention to use the Extended Payment Plan.
Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
- Minimum down payment is 20%.
- Payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
- Payments must be made using one or a combination of the following payment methods: cash, check, cashier's check, eCheck, money order, bank draft, bank wire or PayPal.
- There is no penalty for paying off early.
- Non-dealers only
SMS Alerts- Receive a text message approximately 35 lots ahead of your item being up for bidding at auction, with a link to bid in Heritage Live in the text message. Haven't registered? Visit MyProfile to sign-up for free by entering your mobile number. The green icon indicates Live Bidding Text Alerts are on for that lot. Live Bidding Text Alerts are only available for lots in live sessions.
Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
|Sold for:||Sign-in or Join (free & quick)|
|Claim Item:||Sign-in or Join (free & quick)|
|Auction Ended On:||May 16, 2014|
15 Internet/mail/phone bidders
1,184 page views
Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075
Rare New York Copper, W-5790
Finest Certified, Ex: Bushnell, Parmelee, Newcomer, "Col." Green
The financial chaos of the Confederation period gave rise to many issues of private coinage in the original 13 states. The 1787 George Clinton cents were created as patterns by Captain Thomas Machin, who petitioned the New York State Assembly on March 3, 1787 for the right to produce copper coinage for the state of New York. The central obverse device is a portrait of then-governor George Clinton, a friend of Machin's, who had a long career as a soldier and statesman, culminating in two tours as vice president of the United States. Machin was not awarded a contract for coinage in New York, but his private mint near Newburgh stayed quite busy with other ventures, some authorized and some clandestine. The dies for the Clinton coppers were engraved by James Atlee, who was still working at another private facility in Rahway, New Jersey at the time. Only a small number of coins were struck to provide the Assembly with examples of the proposed coinage. At least three examples were overstruck on 1787 Immune Columbia pieces.
Although some of the coins show irrefutable signs of circulation, the small mintage was never widely disseminated, and the issue was not familiar to more than a few legislators and merchants at the time of issue. The Clinton coppers were quickly forgotten by the general public and there was no organized numismatic community in those days to preserve examples for collecting purposes. All knowledge of the issue had faded by 1859, when a grocer from East Poultney, Vermont located the discovery coin. According to Walter Breen, W.C. Prime acquired the coin and published the discovery in Harper's March 1860 edition. Prime later sold the coin with the rest of his collection in December of 1864 (see roster below).
The present coin traces its history through many distinguished collections, all the way back to Charles Ira Bushnell, a popular numismatist who was most active in the 1850s and '60s. Bushnell's collection was sold after his death in 1882 by the Chapman brothers, who were relatively new to the coin business. More established dealers of the period viewed the newcomers with surprise and not a little jealousy, but the brothers produced a catalog of exceptional quality in stately quarto format and available with fine photographic prints of selected lots. The secret to their acquisition of the collection lay in their relationship to millionaire Boston collector Lorin G. Parmelee, who purchased Bushnell's collection intact and offered it for sale, planning to bid whatever amount was necessary to secure the lots he needed for his own collection. Parmelee had used the same tactic at least twice before, always acting through dealer William Strobridge, but Strobridge retired in 1878, forcing Parmelee to find a new venue for this sale. The coin was described in lot 887 of the catalog:
"1787. Bust of George Clinton to right. GEORGE CLINTON. Rev. The Arms of the State of New York; an oval shield bearing a sun rising behind a range of mountains, the sea at their base; at right of shield stands Justice with scales and sword, at left stands Liberty with staff; above an eagle with outstretched wings facing right, standing on a globe; 1787 EXCELSIOR. Very sharp, bold, even impression. Looks as if it was struck for a proof. Uncirculated. Olive brown color. A most splendid specimen of this extremely rare piece, of which but five are known in any state. See plate."
Parmelee purchased the lot (actually paying himself, as the owner of the collection) for $135, a strong price at the time. This coin was offered publicly only one more time before its present appearance, when Parmelee sold his collection in 1890. It has been moving outside the open numismatic market ever since, while serving as a centerpiece of the fabulous collections of Waldo Newcomer and "Col." E.H.R. Green, before its acquisition by Eric P. Newman, decades ago.
This delightful Select example is the finest-certified George Clinton cent by a wide margin, as the closest contender grades only XF40. Actually, the Smithsonian piece and two in the British Museum are the next finest, but those pieces have not been certified and are not available to collectors in any case. This piece offers sharply detailed design elements throughout, with glossy brown surfaces that show minimal signs of contact. Struck only slightly off-center, dentilation shows around the entire obverse, although it is weak from 12 to 3 o'clock. The planchet shows no fissures or pits, and the surfaces show no sign of corrosion or carbon. This coin combines the highest available technical grade, tremendous eye appeal, and an illustrious pedigree back to the early days of the hobby. It is one of the most important lots in this incredible collection, and the opportunity to acquire this piece may not recur for decades.
Roster of 1787 George Clinton New York Excelsior Coppers
The following roster was compiled with the generous assistance of Wayne Burt, Erik Goldstein, Stuart Levine, P. Scott Rubin, and Anthony Terranova.
1. MS63 Brown NGC. Charles Ira Bushnell; Bushnell Collection (S.H. & H. Chapman, 6/1882), lot 887, realized $135; Lorin G. Parmelee; Parmelee Collection (New York Coin & Stamp, 6/1890), lot 452, realized $150; Waldo Newcomer; "Col." E.H.R. Green circa 1931 via B. Max Mehl; Green Estate; Eric P. Newman; Eric P. Newman Numismatic Education Society. The present coin.
2. Uncirculated. British Museum (acquired in 1855).
3. Uncirculated. British Museum duplicate. Reported by Anthony Terranova.
4. Mint State. Dr. Thomas Hall; Virgil Brand in 1909; Norweb Collection; donated to the National Numismatic Collection at the Smithsonian Institution in 1982. This piece appears to match the Crosby plate.
5. Uncirculated. William Sumner Appleton; Appleton bequest to the Massachusetts Historical Society in 1905; Public Auction Sale (Stack's, 3/1973), lot 31, realized $34,000; Public Auction Sale (Stack's, 5/1975), lot 463; Connecticut collection.
6. Extremely Fine, practically Uncirculated. A piece found in a Long Island farmhouse circa January 30, 1895; Dr. Thomas Hall; purchased privately by Allison W. Jackman; Jackman Collection (Henry Chapman, 6/1918), lot 142; unknown intermediaries; Theodore Grand Collection (Stack's, 12/1947), lot 14, realized $500 to Eric P. Newman; traded to F.C.C. Boyd in exchange for his 1792 Silver Center cent in 1951; John Ford; private sale in 1973; Long Island collection.
7. Very Fine 20 or better (probably XF today). John G. Mills; purchased privately by James Ten Eyck; Ten Eyck bequest to the Albany Historical Society; Ten Eyck Collection (B. Max Mehl, 5/1922), lot 817; John Work Garrett; Johns Hopkins University; Garrett Collection, Part I (Bowers and Ruddy, 11/1979), lot 603, realized $29,000.
8. XF40 PCGS. U.S. Marshals Service Auction (Boston, 7/2000), lot 37; Rossa and Tannenbaum; Anthony Terranova; Joseph Lasser; donated to Colonial Williamsburg Foundation.
9. Very Fine or better. Colonel Mendes I. Cohen; Cohen Collection (Edward Cogan, 10/1875), lot 2311, realized $21; Thomas Warner; Warner Collection (S.H. & H. Chapman, 6/1884), lot 2093; John Story Jenks; Jenks Collection (Henry Chapman, 12/1921), lot 5492, realized $200; unknown intermediaries; Donald Groves Collection (Stack's, 11/1974), lot 335, realized $21,000; Laird U. Park; Park Collection (Stack's, 5/1976), lot 59; Ellis Robison; Robison Collection (Stack's, 2/1982), lot 154; William Anton.
10. Fine 15 PCGS. "Col." E.H.R. Green Collection; Green Estate; Robert R. Prann; ANA Convention Auction (Numismatic Gallery, 8/1947), lot 602; John L. Roper Collection, Second Collection (Stack's, 12/1983), lot 274; Gilbert Steinberg Collection (Stack's, 10/1989), lot 103; Colonial Coins & Medals FPL (Stack's, 1990), lot 135; John Royse Collection; Baltimore Auction (Stack's Bowers, 11/2012), lot 6056, realized $218,500.
11. Fair. Metropolitan New York Convention (Stack's, 5/1968), lot 52.
A. Perfect beautiful impression. Joseph Finotti Collection (W. Elliot Woodward, 11/1862), lot 1521, realized $115; William Lilliendahl; Lilliendahl Collection (William Strobridge, 12/1863), lot 1185, realized $275.
B. Grade Unknown. Benjamin Haines Collection (Bangs, Merwin & Co., 1/1863); Jeremiah Colburn (W. Elliot Woodward, 10/1863), lot 2625.
C. Very Fine. John F. McCoy; McCoy Collection (W. Elliot Woodward, 5/1864), lot 1760, realized $126; Colin Lightbody; Lightbody Collection (Edward Cogan, 12/1866), lot 450, realized $92.50; Heman Ely; Ely Collection (W. Elliot Woodward, 1/1884), lot 1014.
D. Fair. W.C. Prime Collection (Bangs, Merwin & Co., 12/1864); Dr. F.S. Edwards Collection (Edward Cogan, 10/1865), lot 2642, realized $25.
E. Grade unknown. Colin Lightbody; Sixth Semi-Annual Sale (W. Elliot Woodward, 3/1865), lot 2629, realized $85 to "Irving."
F. Fine. Joseph Mickley Collection (W. Elliot Woodward, 10/1867), lot 2452, realized $32.50 to "Wall."
G. Good. Alexander Balmanno Collection (John W. Haseltine, 4/1873), lot 479.
H. Uncirculated. George F. Seavey; Seavey Descriptive Catalogue (William Strobridge, 6/1873), lot 158; Lorin G. Parmelee.
I. Good impression. Carson Brevoort; Lorin G. Parmelee; Parmelee Collection (Strobridge, 6/1876), lot 1482, realized $28.
J. Grade unknown. Colonel James H. Taylor Collection (William Strobridge, 11/1875), lot 1051, realized $38.50.
K. Grade unknown. Ninety-Ninth Sale (W. Elliot Woodward, 9/1888), lot 1265.
L. Grade unknown. An example purchased from an unknown source by Virgil Brand in 1897 (Brand Journal number 17761).
M. Grade unknown. An example purchased from an unknown source by Virgil Brand in 1905 (Brand Journal number 29169).
N. Grade unknown. An example in the collection of DeWitt Smith; purchased by Virgil Brand in 1908 (Brand Journal number 46444); Armin Brand.
O. Very Fine. George H. Hall Collection (Stack's, 5/1945), lot 34.
P. Fine. Baum Collection (Stack's, 5/1947), lot 707. (PCGS# 433)
Service and Handling Description: Coins & Currency (view shipping information)