1796 1C Draped, Reverse of 1794, BN MS (PCGS# 1404)

The Walter J. Husak Collection

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    2112
  • Grade:
    VF35
  • Price:
    $10,350.00
Lot Description
1796 1C Draped Bust, Reverse of 1794. VF35 PCGS. S-111, B-17, Low R.5. Bland VF20; tied for CC-6. Noyes VF25; tied for CC-4. Photo #22044. Our EAC Grade VF20. Equivalents. Proskey 21; Doughty 91; Gilbert 29; McGirk 12J; Clapp-Newcomb 24; EAC 17; Encyclopedia 1687; PCGS #1404. Variety. L is low and IB are widely spaced. Reverse of 1794. Variable die chips below E of UNITED. The obverse appears on S-111 and NC-5. The reverse appears on S-106, S-107, S-108, S-109, S-110, and S-111. Surfaces. Delightful medium brown surfaces with faint grayish-brown color on the devices. A few faint hairlines on the obverse and slight dents on the reverse are the only imperfections on this desirable specimen. The surfaces are unusually light and free of corrosion, unlike the typical S-111 cent. Die State III. A faint crack can be seen from the rim to the right base of I in LIBERTY, but there are no cracks visible at the date. Appearances. The obverse and reverse are illustrated in Noyes (2007). Census. Tied for fourth finest per Noyes, or sixth finest per Bland, this is a remarkable example of the variety. Finest known is the Parmelee-Whitney specimen that grades AU, followed by two VF30 and three VF25 coins. Sheldon graded the Parmelee coin MS60 in Early American Cents and AU55 in Penny Whimsy. Commentary. The rarity of S-111 is little changed from the 1958 publication of Penny Whimsy, although the top six examples have changed. In 1958, Sheldon noted that two of the top six are in the ANS Collection, and today in 2008 the best ANS coin is tied for 14th finest, according to Noyes. Provenance. Discovered in Ireland; Spink & Sons (9/1982), lot 251, $1,705; Jack H. Robinson; Dr. Robert J. Shalowitz; Dr. C.R. Chambers; Dennis Mendelson; Fred H. Borcherdt. Personality. A collector of early coppers, C. R. Chambers, M.D., joined EAC in 1972. For years, he operated the Chambers Medical Clinic in Union City, Indiana. His affinity for the earliest American large cents places his pedigree on a nu
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