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1793 1C Chain AMERI. MS63 Brown PCGS. S-1, B-1, R.4. Our EAC Grade AU50. ...

2014 June 23 The Eugene H. Gardner Collection of US Coins Signature Auction - New York #1213

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Auction Ended On: Jun 23, 2014
Item Activity: 13 Internet/mail/phone bidders
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Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075


1793 S-1, B-1 Chain Cent, MS63 Brown
AMERI. Reverse
The Early American Cents Plate Coin
1793 1C Chain AMERI. MS63 Brown PCGS. S-1, B-1, R.4. Our EAC Grade AU50. Considerable frosty luster appears on the light golden-brown surfaces of this highly attractive Chain AMERI. cent, with delicate silvery-blue toning on both sides. The design elements are bold, although the central obverse is somewhat indistinct. However, Liberty's ear is still fully visible, and that feature is rarely observed. A few scattered surface marks appear on the obverse, with tiny dark planchet flakes on the reverse.

Variety: Sheldon-1, Breen-1. Breen Die State IV, with bulges through the 1 in the date and between the U and the border. Double clash marks are evident from the nose down to the bust, and between the bust and the date, joining the lower hair strands.

Population Data (5/14): PCGS has certified this coin and another example that they grade MS61 Brown. NGC has certified three Brown examples, one each in MS61, MS62, and MS63. Those five submissions are the only certified Mint State Chain AMERI. cents. One PCGS example is certified as Specimen-65 Brown.

Heritage Commentary: Bill Noyes assigns a conservative XF45 grade to this piece, which he ranks as the seventh finest example of Sheldon-1. We agree with his assessment that the surfaces are Average, although they are far finer than nearly every other known example. The cataloger agrees with Del Bland's AU50 grade, placing this coin in a tie for the third finest known S-1.

In 1957, John Ford described this coin for New Netherlands as the second finest known:

"Light brown, the obverse especially with silvery iridescence representing the 'cartwheel' or mint bloom of an Uncirculated coin; the reverse with traces of proof-like gloss reminding us very much of the splendid Mickley-Bareford MS-60. Minute planchet defects as made, especially on reverse. Undergraded in EAC (Early American Cents), but Dr. Sheldon subsequently graded the coin AU-50 after it had been properly brushed. It is second only to the Mickley coin, and we believe superior to the Fritz cent, long thought second finest."

Today, the Mickley-Bareford coin remains the finest known in the Bland and Noyes listings, while the Fritz coin is tied with this piece as one of four coins that Del Bland calls AU50. Noyes calls the Fritz coin AU50 and tied for third finest in his list.

Provenance: George F. Seavey (William H. Strobridge, 1873), lot 204; Lorin G. Parmelee; M.A. Brown (Chapman Brothers, 4/1897), lot 740; Ed. Frossard; Allison W. Jackman (Henry Chapman, 6/1918), lot 683; Dr. Henry W. Beckwith; Howard Rounds Newcomb (J.C. Morgenthau & Co., 2/1945), lot 1; F.C.C. Boyd; New Netherlands Coin Co. (12/1957), lot 879; Corrado Romano (Stack's, 6/1987), lot 144; Andrew M. Hain (Stack's, 1/2002), lot 725.(Registry values: P5) (NGC ID# 223G, PCGS# 1340)

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