LOT #7805 |
Sold on Jan 5, 2001 for: Not Sold
1861 1C Restrike-C, BN
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Sold on Jan 5, 2001 for:
Not Sold Description
Rare 1861 Confederate Cent, Haseltine Restrike of 1873-1874
1861 1C Confederate States of America, Copper Restrike Cent MS 64 Brown ANACS. Breen-8008. The Confederate cent is a fascinating coin whose exact history is not known with certainty. In his Encyclopedia, Breen recounts the story of this abortive issue, and we have relied on his research heavily for this catalog description.Early in 1861, Confederate agents contacted Robert Lovett, Jr. of Philadelphia and offered him a contract to produce cents for the Southern government. The cents were to be struck in a copper-nickel alloy that probably would have been similar to that which the Philadelphia Mint used to produce Flying Eagle and Indian cents, 1856-1864. The design, however, was to be Lovett's original work. An engraver and die sinker by trade, Lovett chose the obverse of one of his 1860 advertising pieces for the obverse of the Confederate cent. This design depicts a bust of Liberty facing left and wearing a cap with six stars along the headband. The inscription CONFEDERATE STATES OF AMERICA is around the periphery, and the date 1861 is below. For the reverse, Lovett prepared a design that incorporated the denomination 1 CENT within a wreath of corn, cotton, maple, tobacco, wheat, two barrels, and a bale of cotton. The designer's initial, L, is located on the lower right side of the cotton bale. Lovett prepared a single pair of dies and struck 12 specimens. At this point, the Philadelphia resident realized the treasonous nature of his activity, and he abandoned the project. The dies and the coins were hidden in his cellar, unknown to anyone except Lovett.
The story resumes in 1873 when an inebriated Lovett accidentally spent one of the Confederate cents at a bar in West Philadelphia. Captain John W. Haseltine quickly acquired this coin and hounded Lovett relentlessly until he not only divulged the existence of the dies and the other specimens, but agreed to sell them to Haseltine. With these dies, Haseltine made a limited number of restrikes in gold, silver, and copper. According to Breen, the number of copper restrikes was either 55 or 56 pieces, which Haseltine first advertised for sale on April 2, 1874.
Henry Chapman later acquired the Confederate cent dies, after which time they disappeared until 1961. In that year, the dies surfaced in the possession of Robert Bashlow. Although the dies were still fit for production, they had been defaced by hammer blows and chisel marks sometime between Chapman's ownership and 1961. Nevertheless, Bashlow managed to produce transfer dies from the defaced originals, and he produced "second restrikes" in 1961-1962 for the centenary of the Confederate States of America. All of Bashlow's restrikes are identifiable by raised ridges and lumps that were transferred to their surfaces from the original, defaced dies.
The present example is one of the 55 or 56 copper restrikes that Captain John W. Haseltine produced in 1873-1874. Both sides are free of noticeable rust pits and die breaks, and there are also no post-production distractions of note. The strike is sharp and the otherwise glossy-brown surfaces reveal traces of original red luster in the protected areas around the devices. A rare issue in its own right, the copper restrike Confederate cent is even more important due to the nearly unobtainable status of its original counterpart.
Coin Index Numbers: (NGC ID# 2C4Z, PCGS# 340405, GSID# 15307)
Auction Info
2001 F.U.N. Signature Sale #244 (go to Auction Home page)
Auction Dates
January, 2001
4th-6th
Thursday-Saturday
Bids + Registered Phone Bidders: 5
Lot Tracking Activity: N/A
Page Views: 314
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