1792 P1C One Cent, Judd-1, Pollock-1, High R.6, VF30 NGC....
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: 17.5% of the successful bid (minimum $14) 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.
The Mickley-Cohen-Dohrmann-Brand-Roper-Queller Specimen
Commentary. The patterns of 1792 are the rarest series of patterns ever struck and each is a classic of U.S. coinage in its own right. This exclusive series includes the silver center cent, Birch cent (two varieties), half disme, disme, and the Eagle on Globe quarter. Of these five issues, only the half disme and disme ever circulated. Of the other three pattern issues, the silver center cent was an experimental striking that was intended to create a coin with an intrinsic value of one cent on a smaller copper planchet by inserting a silver plug in the center. These pieces proved impractical to produce; in the end, no one seemed to care that they were struck on smaller planchets or had a silver center. The result, we know now, was the production of large cents from 1793 through 1857. It was not until the mid-1850s that the idea of a small-sized cent was again entertained as an alternative to the large coppers.
Along with the production of the silver center cents, another small cent was also struck with the same design, the so-called fusible alloy cent. These coins incorporated the same idea of mixing copper and silver, but these pieces (Judd-2) had the metals alloyed together. The problem with such coins is they were visually indistinguishable from a copper striking and could be easily counterfeited.
The first mention of the actual striking of cents appears in a letter from Secretary of State Thomas Jefferson to President Washington, dated December 18, 1792:
"Th. Jefferson has the honor to send the President two cents made on Voigt's plan by putting a silver plug worth ¾ of a cent into a copper worth ¼ cent. Mr. Rittenhouse is about to make a few by mixing the same plug by fusion with the same quantity of copper. He will then make of copper alone of the same size, & lastly he will make the real cent as ordered by Congress, 4 times as big. Specimens of these several ways of making the cent may now be delivered to the Committee of Congress now having the subject before them."
The Mint was ready for occupancy in September 1792. From the date of Jefferson's letter, we may infer that the first two experimental cents were struck in December 1792 (the third type mentioned was never coined). In 1907 Frank Stewart (a much later owner of the original Mint property in Philadelphia and an author of a history of the facility) discovered two planchets for the silver center cents as he was excavating the first Mint building. They were blanks with a hole in the center but lacking the silver plug. Stewart donated the planchets to the Congress Hall Collection in Philadelphia rather than sell them to J.C. Mitchelson. With Stewart's discovery of the planchets which "fell down from the overhead joists" it was finally established that the silver center cents were actually produced within the newly opened Mint and not outside its walls as previously believed.
The Mint Act of April 2, 1792 authorized cents that would weigh 264 grains and half cents of 132 grains. Such coins would have given a full cent's (or half cent's) worth of copper. The intention of such large small-denomination coinage was to drive out of circulation the wide variety of world coinage found in the states. Such coins would have undoubtedly achieved the desired result, but a smaller, lighter version was authorized in January 1793; Congress granted a further reduction in 1795. The result was to reduce the amount of copper in each coin by almost 36% from the original weight designated in 1792. Thus, the silver center cent and its companion fusible alloy cent were experiments aimed at convenience.
This piece is the first of the three types discussed in Jefferson's letter, and it is believed that today only 14 of these experimental coins survive. P. Scott Rubin conducted an exhaustive survey of auction records in 1984, conducting a line-by-line scan of 3,200 auction catalogs spanning the years 1855 to 1984. He logged each appearance of a silver center cent he found, resulting in only 38 listings over the 130 years surveyed. This particular coin has an especially distinguished pedigree. Its first appearance at public auction was in the Joseph Mickley Collection in 1867. The Mickley Collection was so extensive that it was sold over a period of six nights. The coin was described by W. Elliot Woodward as "Remarkably fine condition." One has to wonder today if this was a comment on the overall appearance of the piece or an early attempt at grading. The coin sold for $54 to Colonel Mendes I. Cohen.
Borrowing heavily from Rubin's 1984 list of known examples and his updated roster since that time, the following is a roster of known silver center cents:
3. Davis-Jenks-Lohr-River Oaks-Hughes-private collection- Smithsonian.
4. Morris-Eastern Collection-Mitkoff & Numismatic Ltd-1974 GENA-Anton-private collection.
5. Bushnell-Parmelee-Smith-Wurtzback-Brand-Roach-Neil-New Netherlands-Ramano-Stack's 65th Anniversary Sale.
7. 1907 Elder Sale-Judd-Leidman-Eastern Collection.
8. Mickley-Cohen-Dohrmann-Woodward-Brand-1964 Kreisberg & Schulman-Gibson-Roper. The present specimen.
9. 1933 Morgenthau's 311th Sale (the first sale of Brand coins)-1992 Floyd Starr Sale-American Numismatic Rarities (8/2006).
10. Eric Newman.
11. Norweb III.
12. 1892 Woodside Sale.
13. 1997 Glendining's Sale-Anthony Terranova.
14. Discovered by Anthony Terranova, 1993. The coin does not have a silver center and appears to have been a trial striking before making the silver center pieces.
Physical Description. The coin is close to XF overall, with the devices on each side well-centered on the flan. The upper right reverse shows evidence of corrosion, and there two distinguishing planchet voids in the obverse fields, one before Liberty's face and the other at the base of the second E in SCIENCE. On the obverse the silver plug touches Liberty's ear, runs along the jawline, and covers several of the strands of hair. On the reverse the plug covers the right half of the E and almost all of the N in CENT, as well as the lower half of the N in ONE. Even, darker brown color over both sides is interrupted by the brightness of the silver plug.
Provenance. Ex: Joseph J. Mickley Auction (W. Elliot Woodward, 10/1867), lot 2135; Colonel Mendes I. Cohen; Cohen Collection (Bangs, Merwin & Co., 10/1875), lot 380; bought by William Sumner Appleton for $45; bought back by Woodward on behalf of A. Dohrmann; A. Dohrmann Collection (W. Elliot Woodward, 3/1882), lot 437; Lady of Western New York Collection (W. Elliot Woodward, 2/1887), lot 816; Virgil Brand; Kreisberg-Schulman (3/1964), lot 1106; Roper Collection (Stack's, 12/1983), lot 425; Lemus Collection, Queller Family Collection Part Two (Heritage, 1/2009), lot 1500. (PCGS# 11001)
Service and Handling Description: Coins & Currency (view shipping information)