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Lot
5160

1823 1C "Restrike" MS65 Red and Brown NGC. N-3, R.2. ...

2002 September Long Beach Signature Sale #300

 
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Auction Ended On: Sep 26, 2002
Item Activity: 4 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Desirable 1823 Restrike in Terminal Die State
1823 1C "Restrike" MS65 Red and Brown NGC. N-3, R.2. Beautiful, reddish-brown surfaces with excellent luster and reflectivity that exhibits subtle, iridescent undertones when viewed at an angle. This is likely due to the coin's magnificent prooflike mint appearance, as is witnessed on many of these pieces. Terminal die state: the coin was struck from shattered dies, resulting in two large cracks across the obverse, and a huge cud from stars 4 to 7. The reverse also exhibits extensive die failure, including a large, curved crack across the entire surface. An ideal opportunity to obtain one of these desirable and intriguing pieces in a very high state of preservation.
Though these coins are commonly referred to as "mint restrikes," they were actually manufactured illicitly by the same private individuals who struck the 1804 Restrike Cent. They had obtained original dies for the 1823 obverse and an 1813 reverse when they were sold as scrap steel in 1833. The two dies were mated to create the 1823 "Restrike." Production of these restrikes began around 1862, and probably continued for at least a decade. Evidently, this particular example must have been struck later in the series, given the late state of the dies. (PCGS# 1628)

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