1793 1C Liberty Cap. XF45 PCGS. S-14, B-17, Low R.5. ...
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: 15% of the successful bid (minimum $9) 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:||Feb 15, 2008|
9 Internet/mail/phone bidders
2,720 page views
Long Beach Convention Center
Equivalents. Crosby-Levick 11J; Frossard 12; Proskey 15; Doughty 15; Crosby 13-L; McGirk 3-C; EAC 17; Encyclopedia 1647; PCGS #1359.
Variety. The Bisecting Crack. Leaf triplet is positioned below OF. The obverse appears on S-14. The reverse appears on S-13, S-14, S-16, and NC-6. Lettered Edge, one leaf.
Surfaces. A well struck example with smooth dark chocolate color and some lighter tan on both sides. Each side has a few minuscule surface marks that are consistent with the grade. Although imperfectly centered, the obverse and reverse have full and complete border beads. The obverse has a small rim bruise over Y, and the reverse has a few insignificant edge nicks.
Die State III. sharp strike of this example particularly emphasizes the prominent obverse die crack. There is no evidence of the clash marks of Breen's State II, but there is evidence of the reverse die bulge of Breen's State III.
Appearances. The obverse and reverse are illustrated in Noyes (2006).
Census. This example is well within the traditional Condition Census of the top six examples, ranking either fourth or fifth depending on which source is consulted. The finest known grades just XF45 and the ANS holds an XF40, making the present specimen even more desirable. Most known examples are in lower grades and easily identified, as the die crack is visible in nearly any grade.
Commentary. With a surviving population of about 70 pieces, the Bisecting Crack is the second most common variety of the six 1793 Liberty Caps, although it is substantially rarer than Sheldon-13. The rarity of this variety has remained essentially unchanged since 1949, when Sheldon gave it an R.5 rating. Perhaps the stable rarity rating is due to the recognizable nature of the obverse.
Dr. Charles E. McGirk compiled and published a study in 20 parts in The Numismatist from April 1913 to December 1914. At the time, other published references included Crosby on 1793s, Frossard and Hays on 1794s, Gilbert and Elder on 1796s, Frossard's Monograph, Proskey's study, and Doughty's study for all years. Breen commented in his Large Cent Encyclopedia that "McGirk numbers occasionally appeared on cents in auctions and old collections, but for various reasons (among others, numerous errors, lack of a meaningful sequence, listing die cracks as new varieties, and lack of usable illustrations) the system was forgotten. Later monographs ignored the McGirk numbers. McGirk's work, if better done, might have replaced the Doughty reference."
A completed coinage die was not ready for use until it was hardened. The February 1826 issue of The Franklin Journal described the hardening process, quoted in Breen's Large Cent Encyclopedia: "The general method of hardening this metal is to heat it red hot, and then plunge it into cold water, and sometimes into mercury, in order to reduce its temperature as quickly as possible." Craig Sholley notes that the hardening process was the "moment of truth" once a die was engraved. Many dies cracked or shattered during the process. Others only hardened near the edges, and cracked or broke upon first use. It was the results of this procedure, according to Sholley, that have often been described as "poor die steel." There is little doubt that the hardening process resulted in the Bisecting Crack variety.
Provenance. A.H. Baldwin & Sons, Ltd. (London, 5/1954); Norweb Collection (Bowers and Merena, 11/1988), lot 2697, $26,500; Anthony Terranova; Auction '89 (David Akers), lot 1004, $30,800; Samuel Spatzer (Esquire Coin Co.); Douglas F. Bird and Lou Rasera (Southland Coins and Currency); Daniel W. Holmes, Jr.
Personality. A native of Cleveland, Ohio, Daniel W. Holmes, Jr. is CEO of Morrison Products, Inc., manufacturers of electric fans. He began collecting in 1948, when he was 10 years old. He has been a member of EAC since 1973 and currently serves as the organization's president. Holmes has formed the most complete variety collection ever assembled, lacking just two pieces to complete his entire collection from 1793 to 1857 by die variety.
Sheldon-15. Single bead dots the I; lowest curl is heavy. Single leaf is positioned below OF. The obverse appears on S-15 and S-16. The reverse appears on S-12 and S-15. Lettered Edge, one leaf.
Sheldon-15 is one of just three Sheldon numbers missing from the Husak Collection. The others are the 1795 Reeded Edge (S-79), and the 1795 Jefferson Head (S-80). Sheldon-15 was produced by a combination of obverse and reverse dies used for other 1793 Liberty Cap cents. Current census details show exactly 12 examples of the S-15 known today, with the finest known piece in the ANS collection, grading Fine 12. (Variety PCGS# 35492, Base PCGS# 1359)
Service and Handling Description: Coins & Currency (view shipping information)
Rasmussen Special Edition Catalog
This hard bound volume contains the magnificent Wes Rasmussen Large Cent Collection, formed by a former President of the Early American Coppers society which was auctioned at the 2005 Florida United Numismatic Auction. Reserve your copy of this remarkable volume for just $75 today.
Rasmussen Signed Limited Edition Catalog
A hard bound limited library edition of the Wes Rasmussen Collection Catalog, signed by Wes Rasmussen, Mark Borckardt, Greg Rohan, and Denis Loring, is available while supplies last. Only 100 produced. Reserve your copy of this remarkable limited edition signed volume for just $150 today.