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1794 Cent Talbot, Allum & Lee Cent PR65 Red and Brown PCGS. Fuld-4, W-8590. ...

2011 November 8-10 US Coins Signature Auction - Beverly Hills #1161

 
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Auction Ended On: Nov 8, 2011
Item Activity: 10 Internet/mail/phone bidders
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Location: Heritage Auctions - Beverly Hills
9478 West Olympic Blvd., 1st Floor
Beverly Hills, CA 90212

Description:

1794 Talbot, Allum & Lee Cent, W-8590
High-Grade PR65 Red and Brown
1794 Cent Talbot, Allum & Lee Cent PR65 Red and Brown PCGS. Fuld-4, W-8590. The Talbot, Allum & Lee cents are unusual among the post-Colonial pieces of British origin in that they actually circulated in the United States to a fairly wide extent. More than 200,000 of these cents are believed to have been struck as advertising tokens, most dated 1794, but a sizeable number were dated 1795. The majority of them were unused, and the firm ultimately sold 2,990 pounds of them (an estimated 140,000 to 150,000 tokens) to the U.S. Mint for use as half cent planchets.
This proof was obviously never intended for circulation, and the high grade attests to its careful preservation. The fields are deeply mirrored with no distracting marks. The surfaces are mostly red, with the Red and Brown designation from PCGS likely a result of the blue accents seen on both sides. A close inspection reveals some subtle evidence of die spalling (often called die rust), which makes one question whether this piece was really struck in 1794. Conder tokens, which include the Talbot, Allum & Lee pieces, were sometimes struck for several years (sometimes as long as a decade) after their nominal date for sale to collectors. As a proof, this piece was certainly made for collectors, and it is possible that it was struck a few years after 1794. An interesting specimen for further study. Listed on page 72 of the 2012 Guide Book. Population: 4 in 65 Red and Brown, 0 finer (9/11). (PCGS# 90635)

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