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

The Walter J. Husak Collection

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    Heritage Auctions
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Lot Description
1796 1C Draped Bust, Reverse of 1794. AU55 PCGS. S-112, B-19, High R.4. Bland VF35; tied for CC-5. Noyes VF35; tied for CC-4. Photo #34996. Our EAC Grade XF40. Equivalents. Gilbert 14; McGirk 12C; Ross 13J; Clapp-Newcomb 13; EAC 19; Encyclopedia 1687; PCGS #1404. Variety. LI repunched left. 96 joined by crack. Reverse of 1794. Single outside leaf below IT. The obverse appears on S-110 and S-112. The reverse appears on S-112 and NC-5. Surfaces. Lovely mahogany and steel-blue with smooth and essentially problem-free surfaces, probably recolored. A few scattered marks are expected. The central motifs are nicely detailed on this well struck coin and the impression is centered, although the obverse border is poorly defined. Die State II. The reverse has a faint die crack through the tops of NIT, and at least two sets of clash marks. Appearances. The obverse and reverse are illustrated in Noyes (2007). Census. In the Newcomb catalog, J.C. Morgenthau described this coin as Uncirculated. Today, not even PCGS calls it Uncirculated. Commentary. In Early American Cents, the S-112 die combination was considered Rarity-5, increased to Rarity-6 in Penny Whimsy, High Rarity-5 in the “Early Cent Revision,” Rarity-5 in Noyes (1991); Low Rarity-5 by Bland; and now High Rarity-4 by Noyes (2007). Provenance. M.A. Brown (Chapman Brothers, 4/1897), lot 773, $17; George H. Earle, Jr. (Henry Chapman, 6/1912), lot 3401, $21.50; William F. Brown (Henry Chapman, 1/1915), lot 313, $25; Howard R. Newcomb (J.C. Morgenthau, 2/1945), lot 111, $110; James Kelly; Dr. William H. Sheldon; Dorothy Paschal; New Netherlands Coin Co. (12/1957), lot 1030, $725; Harold Bareford (9/1985); Herman Halpern (Stack’s, 3/1988), lot 124, $5,225; John Whitney (Stack’s, 5/1999), lot 1748, $8,050; Anthony Terranova. Personality. James F. Kelly was born April 20, 1907, in Dayton, Ohio, and died on December 27, 1968. He was a professional numismatist who began his career in 1936 with Burdette Johnson in St. Louis, remai
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