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1787 COPPER Excelsior Copper, Eagle Faces Right, Arrows at Left AU50 NGC. CAC. Breen-978, W-5775, High R.7. ...
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Sold on Nov 14, 2014 for:
$67,562.50
Bid Source: Live: Floor bidder
Description
1787 New York Excelsior Copper, AU50
Extremely Rare Transposed Arrows
Breen Encyclopedia Plate Coin
1787 COPPER Excelsior Copper, Eagle Faces Right, Arrows at Left
AU50 NGC. CAC. Breen-978, W-5775, High R.7. 137.3 grains, 98%
copper, 1% tin per NGC metallurgical tests. Michael Hodder called
the Excelsior coppers "the most enigmatic and difficult of all
early American coins" from the standpoint of numismatic history.
Perhaps the only thing that can be stated accurately is their
origin in New York, based on the use of the state motto, Excelsior,
on the obverse.The eagle at the top of the globe on the obverse faces to the viewer's right (sinister), and the arrows on the reverse are in the claw to the viewer's left (dexter). This extremely rare variety has a limited population of just six known examples, including the Eric P. Newman coin that is listed first:
1. AU50 NGC. The present specimen per the provenance below. The Breen Complete Encyclopedia plate coin. Michael Hodder identified this piece as the Parmelee coin, lot 456, but it doesn't match the plate.
2. XF. Stickney Collection (Henry Chapman, 6/1907), lot 242.
3. VF. John Story Jenks Collection (Henry Chapman, 12/1921), lot 5495; Hillyer Ryder; F.C.C. Boyd Estate; John J. Ford, Jr. Collection (Stack's, 5/2004), lot 311. Plated in the Whitman Encyclopedia. This piece is similar in appearance to the Parmelee coin.
4. VF. Parsons Collection; Col. James W. Ellsworth; John Work Garrett; Johns Hopkins University (11/1979), lot 600.
5. VF. Hollinbeck Stamp & Coin Co. (7/1/1953); Norweb Family (Bowers and Merena, 3/1988), lot 2683.
6. VG. New Netherlands Coin Co. (35th Sale), lot 177; U.S. Marshal Service Sale (Mannheim, 7/2000), lot 32.
A small planchet lamination appears at the left side of the obverse on this chestnut-brown copper, with minor verdigris hidden in the design recesses, especially on the reverse. The central design motifs are weakly defined, with a minute incompletion of the planchet evident at 12:30 on the obverse and 5:30 on the reverse.
Ex: Waldo Newcomer; B. Max Mehl; "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $350.00; Eric P. Newman Numismatic Education Society.
Coin Index Numbers: (NGC ID# B8E4, PCGS# 430, Greysheet# 215)
Auction Info
2014 November 14 - 15 Selections from the Eric P. Newman Collection Part V US Coins Signature Auction - New York #1215 (go to Auction Home page)
Auction Dates
November, 2014
14th-15th
Friday-Saturday
Bids + Registered Phone Bidders: 13
Lot Tracking Activity: N/A
Page Views: 1,555
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
Truth Seeker: The Life of Eric P. Newman (softcover)
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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