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. Fine 12 PCGS. S-107, B-13, R.5. Bland VG-7; tied for CC-7. Noyes VG7; CC-6. Photo #35600. Our EAC Grade VG7. Equivalents. Gilbert 17; McGirk 12D; Clapp-Newcomb 17; EAC 13; Encyclopedia 1684; PCGS #1404. Variety. Italic date. All digits lean right. Reverse of 1794. Variable die chips below E of UNITED. The obverse appears on S-107. The reverse appears on S-106, S-107, S-108, S-109, S-110, and S-111. Surfaces. The surfaces are light tan with considerable olive and steel toning, especially on the reverse. A few old dents and abrasions are present, along with some minor reverse scratches. Die State II. This late die state has a heavy rim break joining both serifs of Y to the border and extending along the rim past 2 o'clock. This rim break is 8.75 mm long. Appearances. The obverse and reverse are illustrated in Noyes (2007). Census. This cent seems to fall at the low end of the Census. Del Bland placed it in a tie for seventh finest known at VG7, although he had not actually seen the coin. The next point, VG8, moves this up to a fifth place tie among the best known examples. Finest for the variety is just VF20. Commentary. Despite a modest Rarity-5 rating today, this variety was considered a major rarity in Sheldon’s day. He rated it Rarity-7 in Penny Whimsy, noting that just seven examples were in collectors’ hands, and one other in the ANS. In the 1973 “Early Cent Revision,” it was rated Rarity-6. The change in Census data, and perhaps grading standards, is illustrated by the following comparison: Penny Whimsy (1958): 20-12-12-10-8-8; “Early Cent Revision” (1973): 20-15-12-12-10-10; Noyes (1991): 20-10-10-8-8-7; Bland (2000): 20-15-12-12-8-8; Noyes (2007): 20-10-10-10-8-7 Provenance. Bob Maccaa (1974); Scott Williams (4/1998); Wes Rasmussen (Heritage, 1/2005), lot 3123, $4,025. Personality. William Healy (a.k.a. William Hayley) signed the January 1793 Mint Rules and Regulations document. He was listed on the October 10, 1795, and
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