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1795 1C Reeded Edge, S-79, B-9, Low R.7, PCGS Genuine....

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Sold on Sep 6, 2019 for:
$78,000.00 Bid Source: Live: Floor bidder
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Description

1795 S-79, B-9 Reeded Edge Cent
Fifth Finest of 10 Known
Extremely Rare Guide Book Variety

1795 1C Reeded Edge, S-79, B-9, Low R.7, PCGS Genuine. The PCGS number ending in .97 suggests Environmental Damage as the reason, or perhaps one of the reasons, that PCGS deemed this coin not gradable. In our opinion, this coin has the details of a Good example with environmental damage. There are 10 known 1795 Reeded Edge cents, and this offering is only the 35th auction appearance of any known example since the variety was first described in 1862.

This example is a recent discovery that was first seen in the numismatic world just nine years ago. In fact, four of the 10 examples known have made their debut in the last two decades. The surfaces are lightly corroded, accounting for the net grade of this piece that exhibits intermingled steel, olive, and tan on each side. The major obverse and reverse design elements are clearly visible, and the date and lettering are intact. Much of the edge reeding is clearly visible on this piece.

All we know about the 1795 Reeded Edge cents is told by the coins themselves, and they are saying little. Only two of the 10 known examples have recorded weights, at 169.4 grains and 153.4 grains. Those weights tell us that the Reeded Edge cents were coined at the new thin-planchet weight standard of 168 grains. Documentary evidence indicates that the first thin-planchet coins were struck on December 27, 1795, and most were minted in 1796.
The obverse die was used exclusively for the S-79 cent. However, the reverse was used later for six different 1796 Draped Bust varieties, S-106 through S-111. Although the low grade of all known examples precludes a specific die state determination, both dies appear to be perfect. The continued use of the reverse die in 1796 proves beyond doubt that the 1795 Reeded Edge cent is a genuine Philadelphia Mint product. This coin is pictured on PCGS CoinFacts. Our EAC grade: sharpness of VG7, net Good 4.
Ex: Discovered by John Baker in a group of unattributed coins given to him by his father years ago; Greg Hannigan; Pre-Long Beach Auction (Goldberg Coins, 9/2010), lot 796; Long Beach Signature (Heritage, 9/2017), lot 4230, realized $192,000.
From The Poulos Family Collection, Part II.

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Auction Info

2019 September 5 - 8 Long Beach Expo US Coins Signature Auction - Long Beach #1299 (go to Auction Home page)
Auction Dates
September, 2019
5th-8th Thursday-Sunday
Bids + Registered Phone Bidders: 20
Lot Tracking Activity: N/A
Page Views: 1,807

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Rasmussen Special Edition Catalog
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Rasmussen Signed Limited Edition Catalog
A hard bound limited library edition of the Wes Rasmussen Collection Catalog, signed by Wes Rasmussen, Mark Borckardt, Greg Rohan, and Denis Loring, is available while supplies last. Only 100 produced. Reserve your copy of this remarkable limited edition signed volume for just $150 today.
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Sold on Sep 6, 2019 for: $78,000.00
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