1787 N YORK New York Excelsior Copper, George Clinton VF20 PCGS. Breen-989, W-5790, Low R.7. ...

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1787 George Clinton Excelsior Cent, VF20
Seldom-Seen New York Copper, W-5790
Legendary Confederation Period Rarity

1787 N YORK New York Excelsior Copper, George Clinton VF20 PCGS. Breen-989, W-5790, Low R.7. The 1787 George Clinton cents were originally created as patterns by Captain Thomas Machin during the chaotic post-colonial Confederation period of early American coinage. With no federal Mint in operation, both "official" and unofficial private issues circulated widely throughout the original 13 states. Machin petitioned the New York State Assembly on March 3, 1787 for the right to produce copper coinage for the state of New York. Competing coiners John Bailey and Ephraim Brasher filed similar petitions during the same time period.

Machin's proposed pattern featured a portrait of then-governor George Clinton on the obverse, who was a personal friend of Machin's and a career soldier and statesman. Clinton served two tours as vice president of the United States (under Thomas Jefferson and James Madison), and is still recognized as the longest-serving governor in the history of the United States.

Although Machin did not receive the contract for coinage in New York, his patterns for the Clinton cent were distributed to members of the New York assembly. A few of the coins circulated, but the small mintage was not distributed to the general public and there was no organized numismatic community to preserve examples for collectors. By the late 1850s the issue was largely forgotten, when W. C. Prime, a grocer and collector from East Poultney, Vermont, located the discovery coin in 1859.

The present coin was last seen in a 1988 Stack's sale (see roster below) but its earlier whereabouts remain uncertain. Most likely, it is one of the coins listed in the "Other Appearances" section of our roster. Identifying these early colonials is truly an adventure. The scant descriptions and lack of photographic reference in the earliest auction catalogs makes attributions similar to catching lightning in a bottle. Early provenance of this coin would be a worthy research subject for the fortunate new owner.

The current coin is a solid VF example, with glossy, medium to deep-brown surfaces. All of the motifs remain well-detailed except for slight weakness on the CLINTON lettering. A few areas of light granularity and minor pitting do not hinder the appeal, nor do a few flecks of verdigris seen on the reverse in the deepest recessed areas. A small planchet defect on the right figure's torso is the most noticeable pedigree marker on the coin.

Only a dozen confirmed specimens of this rare issue survive, and perhaps one or two more unattributed examples exist at the present time. Listed on page 67 of the 2020 Guide Book.

Roster of 1787 George Clinton New York Excelsior Coppers
The following roster was compiled with the generous assistance of Wayne Burt, Erik Goldstein, Stuart Levine, P. Scott Rubin, and Anthony Terranova. In addition to the dozen examples recorded here, 18 early auction appearances were listed in our August 2014 offering of this piece.

1. MS63 Brown NGC. Charles Ira Bushnell; Bushnell Collection (S.H. & H. Chapman, 6/1882), lot 887, realized $135; Lorin G. Parmelee; Parmelee Collection (New York Coin & Stamp, 6/1890), lot 452, realized $150; Waldo Newcomer; "Col." E.H.R. Green circa 1931 via B. Max Mehl; Green Estate; Eric P. Newman; Eric P. Newman Numismatic Education Society.
2. MS62 PCGS. William Sumner Appleton; Appleton bequest to the Massachusetts Historical Society in 1905; Public Auction Sale (Stack's, 3/1973), lot 31, realized $34,000; Public Auction Sale (Stack's, 5/1975), lot 463; Archangel Collection (Stack's Bowers, 10/2018), lot 7088, realized $168,000.
3. Uncirculated. British Museum (acquired in 1855).
4. Uncirculated. British Museum duplicate. Reported by Anthony Terranova.
5. Uncirculated. Dr. Thomas Hall; Virgil Brand in 1909; Norweb Collection; donated to the National Numismatic Collection at the Smithsonian Institution in 1982. This piece appears to match the Crosby plate.
6. XF40 PCGS. John G. Mills; purchased privately by James Ten Eyck; Ten Eyck bequest to the Albany Historical Society; Ten Eyck Collection (B. Max Mehl, 5/1922), lot 817; John Work Garrett; Johns Hopkins University; Garrett Collection, Part I (Bowers and Ruddy, 11/1979), lot 603, realized $29,000; Henry P. Kendall Foundation (Stack's Bowers, 3/2015), lot 2510, realized $235,000.
7. XF40 PCGS. U.S. Marshals Service Auction (Boston, 7/2000), lot 37; Rossa and Tannenbaum; Anthony Terranova; Joseph Lasser; donated to Colonial Williamsburg Foundation.
8. Extremely Fine. A piece found in a Long Island farmhouse circa January 30, 1895; Dr. Thomas Hall; purchased privately by Allison W. Jackman; Jackman Collection (Henry Chapman, 6/1918), lot 142; unknown intermediaries; Theodore Grand Collection (Stack's, 12/1947), lot 14, realized $500 to Eric P. Newman; traded to F.C.C. Boyd in exchange for his 1792 Silver Center cent in 1951; John Ford; private sale in 1973; Long Island collection.
9. Very Fine or better. Colonel Mendes I. Cohen; Cohen Collection (Edward Cogan, 10/1875), lot 2311, realized $21; Thomas Warner; Warner Collection (S.H. & H. Chapman, 6/1884), lot 2093; John Story Jenks; Jenks Collection (Henry Chapman, 12/1921), lot 5492, realized $200; unknown intermediaries; Donald Groves Collection (Stack's, 11/1974), lot 335, realized $21,000; Laird U. Park; Park Collection (Stack's, 5/1976), lot 59; Ellis Robison; Robison Collection (Stack's, 2/1982), lot 154; William Anton.
10. Very Fine 20 PCGS. The Caldwell Collection (Stack's, 4/1988), lot 2006; Palos Verdes Collection (Heritage, 8/2014), lot 5507, realized $94,000. The present coin.
11. Fine 15 PCGS. "Col." E.H.R. Green Collection; Green Estate; Robert R. Prann; ANA Convention Auction (Numismatic Gallery, 8/1947), lot 602; John L. Roper Collection, Second Collection (Stack's, 12/1983), lot 274; Gilbert Steinberg Collection (Stack's, 10/1989), lot 103; Colonial Coins & Medals FPL (Stack's, 1990), lot 135; John Royse Collection; Baltimore Auction (Stack's Bowers, 11/2012), lot 6056, realized $218,500.
12. Fair. Metropolitan New York Convention (Stack's, 5/1968), lot 52.
From The Palos Verdes Collection (Heritage, 8/2014), lot 5507, which realized $94,000.
From The Poulos Family Collection.

Coin Index Numbers: (PCGS# 433, Greysheet# 216)

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