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1796 1C Reverse of 1796 MS65 Red and Brown PCGS....
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Sold on Apr 30, 2009 for:
$115,000.00
Bid Source: Live: Phone bidder
Description
The Husak Collection 1796 S-93 Cent
MS65 Red and Brown
1796 1C Reverse of 1796 MS65 Red and Brown PCGS. S-93, B-34,
R.3. Die State VII. A late die state, although Breen's descriptions
in his Large Cent Encyclopedia fail to correspond exactly
with this coin. The obverse has light clash marks that are
beginning to fade. The reverse has numerous cracks through and
about ERICA, the right ribbon end and stem, and the fraction, along
with clash marks in that area. It appears that the die has
splintered in the area of the fraction and right ribbon end, with
several tiny die cracks intermingled among the clash marks.The evidence presented by this specimen indicates it was struck on a "concavo-convex" blank, more simply described as a cupped or dished flan, usually known as a "Coltman" blank. Breen notes: "Coltman blanks are readily identifiable: the coins made from them have the border on one side rounded with missing dentils, clear dentils on the other side, and they normally come dark."
An early supplier of copper was Mr. Thomas Clifford, a Philadelphia merchant, who sold nearly a ton of the metal to the Mint in February 1796. He recommended the firm of his father-in-law, William Coltman, who represented The Governor & Company of Copper Miners, able to furnish ready-made planchets. The firm operated in Wales, just east of Swansea. Coltman's firm sent over 11 tons of copper, in sheets and blanks, arriving on October 16, 1796. The blanks were described as cupped, as rough as cast iron, and discolored, necessitating an extra step of cleaning each blank before it was usable. Elias Boudinot sent a complaint to the firm a few days later and refused to buy any more of its product.
The obverse and reverse are illustrated in Noyes (1991 and 2007). Del Bland and Bill Noyes both grade this coin MS65, while our own interpretation of EAC grading standard suggest a grade of MS63. Regardless of the grade assigned, this is the single finest known example of the variety. This specimen is the only MS65 1796 Draped Bust cent in Bland's Census, regardless of variety. Noyes records similar examples of S-103 and S-110. In a word, this piece is incredible, the finest known 1796 S-93 cent, and one of the finest 1796 Draped Bust cents, regardless of variety. Even the majority of the S-119 cents from the Nichols Find are no finer, although the Nichols Find coins are on planchets with an entirely different texture or fabric.
Both sides are splendid light brown with ample original mint red that is slightly brighter near the obverse devices. The usual planchet marks remain on both sides, in the fields and on the devices, but they are especially evident on the obverse. Slight doubling is evident beneath the chin. The obverse has a thin dark toning line diagonally up to the right in the right obverse field, and a small dark steel spot on the bust near the junction with the throat. EAC 63.
Ex: Francis H. Lee (circa 1913); Essex Institute (Stack's, 2/1975), lot 137, $6,500; R.E. Naftzger, Jr. (2/1992); Eric Streiner (5/1992); John Whitney (Stack's, 5/1999), lot 1725, $36,800; Anthony Terranova.
From The Joseph C. Thomas Collection.(Registry values: N7079)
Coin Index Numbers: (NGC ID# 223W, PCGS# 1402, Greysheet# 748)
Weight: 13.48 grams
Metal: 100% Copper
View all of [The Joseph C. Thomas Collection, Part Two ]
Auction Info
2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124 (go to Auction Home page)
Auction Dates
Apr-May, 2009
29th-3rd
Wednesday-Sunday
Bids + Registered Phone Bidders: 14
Lot Tracking Activity: N/A
Page Views: 2,522
Buyer's Premium per Lot:
15% of the successful bid per lot.
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