1796 1C Draped, Reverse of 1797, BN MS (PCGS# 1407)

FUN05 Platinum Night

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    Heritage Auctions
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Lot Description
1796 1C Draped Bust, Reverse of 1797 MS61 Brown PCGS. S-119, R.2. Dr. Sheldon discussed the Nichols Find at length in Penny Whimsy: "Some time before 1863 there was dispersed a quantity of Mint State 1796 and 1797 cents, probably numbering as many as a thousand in all, which are traced to a bag brought in December 1797 from the Mint to his daughters by one Benjamin Goodhue, formerly of the Continental Congress. The name of Nichols Find was attached to these coins in the eighteen sixties and apparently arises from the fact that they were the property of the Nichols Family at the time of their dispersal to collectors, perhaps just prior to 1863. According to report, David Nichols of Gallows Hill, near Salem, Mass., passed them out at face value." Earlier, Walter Breen reported on these coins and this hoard in the January 1952 issue of The Numismatist. It is believed that all of these coins were minted in late 1797 and that they represented the first shipment of Boulton planchets from England. Further information about Gallows Hill may be found on the internet at www.hawthorneinsalem.org. This website includes photographs of the area. Much as expected, this cent has splendid surfaces with slightly reflective fields with gorgeous light tan and olive color. Myriad abrasions are visible in the fields, but these are almost all from the original flan and were produced during the planchet manufacturing process before the coin was struck. A couple additional planchet fissures and imperfections are visible on the obverse, notably including numerous tiny marks on Liberty's face and upper hair details, as well as roughness in the hair behind the neck. The trio of varieties that form the Nichols Find, 1796 S-119, 1797 S-123, and 1797 S-135, provide an ideal opportunity for the type coin aficionado.
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