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Lot
6466

1787 FUGIO STATES UNI, RB

1999 ANA Signature Sale #208

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Auction Ended On: Aug 12, 1999
Item Activity: 3 Internet/mail/phone bidders
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Location: Chicago, IL
Description:
1787 Fugio Cent MS 64 Red and Brown PCGS. STATES UNITED. Pointed Rays. Newman 13-X, R.2. Glossy brown with considerable luster remaining. The strike is soft as one might expect and there are few post-striking impairments. There is evidence of die clashing on the obverse. Most of the Mint State examples of this type, as well as several other types, came from the New York bank hoard. In 1788, a keg of Fugio cents was deposited in the Bank of New York. The keg remained unopened until 1856. From 1856 until, at least, the late 1950s, bank officers distributed coins from the keg to VIPs and favored depositors. Many consider the Fugio issues the first true American coinage, as Congress passed a resolution, on April 21, 1787, authorizing the production of a Fugio coinage. After considerable behind the scenes manipulation, James Jarvis won the contract and produced the coinage. Population: 8 in 64, 0 finer (6/99). Listed on page 63 of the 1999 Guide Book. (PCGS# 884)

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