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Sale 72
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Lot 23
1794 S-36 R5. PCGS graded AU-55. Sharpness near EF45 but there is a minor rim mark over the T in LIBERTY and a couple smaller tics over ER in AMERICA. Choice glossy medium steel brown and chocolate with smooth, hard surfaces. This cent offers excellent eye appeal. Late die state, Breen state III, showing fine die clashmarks on both sides. All the delicate die cracks mentioned by Breen are present. Third finest known of the variety in the Noyes and Bland census lists where called EF45 net VF35, Noyes photo #39044. Our grade is VF35+, close to EF40. The finest is impounded in the ANS Museum leaving only one finer specimen in collector's hands, a marginally superior net EF40 example. Plated in Samuel Chapman's United States Cents of the Year 1794 (1923) and in Tom Morley's grading guide for 1794 cents. A beautiful cent that comes with an important (and historical) provenance. The attribution and Paul Gerrie provenance are noted on the PCGS label. Pop 2; 1 finer in 63.
Estimated Value $35,000-UP.
Ex W. B. Guy, Henry Chapman 11/1911:401-Dr. George P. French, B. Max Mehl FPL 1929:54-T. James Clarke, B. Max Mehl 1944-Dr. William H. Sheldon-American Numismatic Society (ANS) Museum probably in the late 1940’s or early 1950’s in the infamous trade/switch for the finest known AU55 coin that had been donated by George Clapp to the museum-traded from the ANS to R. E. Naftzger, Jr., on 1/26/2001 in exchange for the museum’s original Clapp AU55 coin-Bowers & Merena 3/21/2002:1114-Chris McCawley as bidder for Tony Terranova, Chris McCawley, and Martin Paul (Martin Paul later sold his 1/3 interest to a dealer who wishes to remain anonymous; Terranova and McCawley subsequently bought the 1/3 interest from the anonymous dealer)-McCawley & Grellman Auctions/Superior 9/5/2004:173-Paul Gerrie. (Note: The transfer of this cent from the ANS Museum to R. E. Naftzger, Jr., on 1/26/01 deserves additional comment. The cent being offered here resided for many years in the ANS Museum collection before it was transferred to Mr. Naftzger in 2001 in exchange for the AU55 example then in Ted’s collection. Ted acquired the AU55 piece from Dr. William H. Sheldon on 4/19/1972 when he purchased Dr. Sheldon’s collection of early date cents. It was determined several decades later that the coin sold to Ted was obtained improperly by Dr. Sheldon from the ANS, and following lengthy legal wrangling a swap was arranged transferring the piece being offered here from the ANS to Ted in exchange for the higher grade Clapp coin, which was transferred from Ted back to the ANS. This agreement brought a welcomed end to an important yet upsetting chapter in the history of Large Cent collecting.
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| Realized $44,850 |
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