Lot 450
1796 NC-2 R7 Draped Bust, Reverse of 1795 PCGS graded AU53. CAC Approved. Very attractive frosty medium chocolate brown with slightly darker steel brown toning on the highpoints and lighter brown toning in protected areas on the reverse. No spots, stains, or traces of roughness. The only defects are some trivial contact marks, and the only notable ones among them are a tiny rim bruise or dull rim nick under the right side of the 6 and a tiny pinprick tucked under the right end of the wreath stem. Only 9 examples are known of the die variety and this is the discovery coin. It is plated to illustrate the variety in the Breen encyclopedia and the 1991 Noyes reference. Graded EF40 and finest known in the Noyes census (#2 is VG8), his photo #23906. Bland says EF45 and CC#1 over a corroded net F12 example in his census. Our grade is EF40. From the standpoint of rarity and relative condition, this cent will be a highlight of any collection. Legendary large cent collector R. E. "Ted" Naftzger, Jr., recognized the importance of this cent and flew from California to New York specifically to obtain this piece when it finally became available in the November 1988 sale of the Norweb Collection (where it had rested since 1913). This cent comes with a wonderful provenance that has been traced back more than a century. The attribution and Naftzger-Reynolds provenance are noted on the PCGS Secure label. PCGS population 1; the only example of the variety graded by PCGS. Estimate Value $25,000 - UP
Ex James B. Wilson, Thomas L. Elder #21, 10/1908:998-Henry Chapman-Albert F. Holden 1913-Mrs. R. Henry Norweb, Bowers & Merena 11/18/1988:2741-R. E. Naftzger, Jr., 2/23/1992-Eric Streiner 6/6/1992-Tom Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:91 (lot ticket included).
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