Lot 570
1798 S-178 R5+ Style II Hair, Small 8, Reverse of 1796 VF30. Very attractive glossy chocolate brown and light olive with lighter brown toning in protected areas on the reverse. This cent offers outstanding eye appeal, especially for a variety that usually comes with serious problems. There is no hint of corrosion or verdigris and only a few minor contact marks. The notable ones are a trio of small nicks in a line up from the top of the hair ribbon and a single dull vertical nick hidden in the die rust off the chin. The reverse is essentially flawless. LDS, Breen state IV. A pair of strong die cracks extend through the date and the fields on the obverse are rough from heavy die rust. A clear die crack arcs from the second T in STATES to the first A in AMERICA. Phil Ralls considered this piece to be the choicest S-178 known. We have examined the four finest known examples, and we agree. The obverse is plated in Early American Cents and Penny Whimsy. Called VF25 and CC#2 in the Bland census. Noyes says EF40 net VF25 (reason for the deduction unknown) and CC#1, his photo #23263. And it comes with a very impressive provenance, as you would expect.
Estimated Value $10,000-UP.
Ex a Philadelphia collector, Henry Chapman 3/1930:128-Henry C. Hines-Dr. William H. Sheldon-traded by Sheldon into the Anderson Dupont collection-Stack's 9/25/1954:253 (lot envelope included)-Abe Kosoff-R. E. Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:493 (lot envelope included)-John W. Adams-Denis Loring 3/13/1978-C. Douglas Smith 4/1992-Eric Streiner 4/1992-Dr. Philip W. Ralls.
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| Realized $30,550 |
