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Sale 54
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Lot 348
1799/8 NC-1 R7 Overdate 9 over 8. Fine-12. Discovery Coin. Plated in Sheldon, Breen, and Noyes. Glossy chocolate brown with traces of olive brown toning in protected areas and a few tiny splashes of lighter brown toning in the obverse fields. There are traces of extremely fine roughness under the attractive glossy toning, mostly around the date, but the surfaces are excellent overall and the eye appeal is outstanding for the grade. The only marks are a very tiny planchet chip hidden in the hair left of the shoulder, a thin nick close under the second S in STATES, a shallow low spot at the dentils over the right top of the M in AMERICA, and a tiny hairline scratch from the base of the first 0 in the denominator down into the dentils below. None of these marks are at all distracting and it is tempting to call this cent choice, especially for a 1799. The date and legends are strong and the overdate is bold. The attribution points for this extremely rare variety are obvious on this example. Finest of only 7 known (Noyes and Bland each list 8 examples, but one of those, the Punchard coin, is a misattributed S-188). This is the discovery coin for the variety and is plated in all the major references for the series, including Early American Cents (reverse), Penny Whimsy (reverse), Breen (obverse and reverse), and Noyes (obverse and reverse). Called finest known in the Noyes and Bland census lists, and this example is clearly superior to the remaining half dozen. Noyes calls this piece F15 net VG10 (why there is a deduction is a mystery to me) and CC#1, his photo #20101. Bland says F12 and CC#1. Dr. Sheldon called this piece VF20 (of course, ownership does tend to add a few points). He was offered $2000 for it by George H. Clapp in 1947 (which was twice the value of a Strawberry Leaf 1793 cent at the time) and he refused. Removed from an NGC slab graded F15 (NGC label included). DWH #2640. NOTE: Dan thought he already owned this rare variety when he purchased the Richard V. Punchard example for $6500 on 10/25/91. Subsequent inspection by this cataloger many years later revealed that the Punchard piece is actually S-188 with damage in strategic areas that made attribution very difficult. The Punchard coin was listed as NC-1 in the Noyes and Bland condition census postings, but both census takers merely accepted the Punchard attribution, as did many other EAC members who saw the coin. The misattribution placed Dan in the unexpected and unenviable position of needing to fill a tough hole in his collection that he assumed was already filled. Fortunately the Rasmussen example became available in 2005 and Dan was able to win it at auction. Dan still owns the previously misattributed Punchard coin where it fills the S-188 hole in his "fun set."
Estimated Value $50,000-UP.
Ex New England Collection-Frederic W. Geiss, B. Max Mehl #109, 2/47:48 (as D-137)-Judge Thomas L. Gaskill 9/1947-Dr. William H. Sheldon 4/19/72-R. E. Naftzger, Jr. 2/23/92-Eric Streiner 3/20/92-R. S. Brown, Jr., Superior 1/27/96:257-Wes Rasmussen, Heritage 1/13/05:3218-Tony Terranova and John Gervasoni 1/14/05. The Rasmussen provenance and attribution are noted on the NGC label.
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| Realized $66,125 |
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