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1793 S-4, B-5 Chain Cent, AU50
With Periods Obverse

1793 Chain 1C Periods AU50 NGC. S-4, B-5, R.3. Die State III. The periods on the obverse after the date and LIBERTY identify this die marriage, which is less often encountered in better grades than the "Leaning R" Sheldon-3. The L and B are too low, the LI nearly touch, and the R is a corrected B. Moderate wear on Liberty's ear and the nearby curls define the grade, while the peripheral details and low relief hair are splendidly detailed. All legends are bold, including UNITED STATES OF AMERICA which in much lower circulated grades vanishes due to the lack of a prominently raised rim. In this die state two die cracks meet near the rim behind the lower curls, and several of the letters of LIBERTY are connected by a die crack through their bases.
In the catalog of the Walt Husak Collection (Heritage, 2/2008, lot 2003), we noted:

"The engraver of this obverse included periods after the date and LIBERTY. The engraving style is entirely different from the previous obverse dies, and it is likely that the Periods obverse is from a different hand. Walter Breen believed that similarities between this piece and the 1792 pattern quarter [Judd-12, 13], which also has periods as part of the design, point to Joseph Wright as the engraver."

The rich mahogany-brown surfaces are smooth and lack the granularity or verdigris that usually accompanies survivors of this famous inaugural type. The reverse has a few minor rim dings, and a couple of faded and small marks are noted in the obverse field near the date and Liberty's nose. An impressive example that challenges the lower ranks of the Condition Census for the die marriage. Our EAC grade VF35.
Ex: Cincinnati Central States Signature (Heritage, 4/2009), lot 2027, which realized $57,500.(Registry values: P5) (NGC ID# 223F, PCGS# 91341)

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Auction Dates
October, 2012
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