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1794 S-38 R5 PCGS graded MS63 Brown

Currency:USD Category:Coins & Paper Money Start Price:25.00 USD Estimated At:NA
1794 S-38 R5 PCGS graded MS63 Brown
SOLD
95,000.00USD+ (19,000.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2022 Sep 03 @ 18:17UTC-5 : EST/CDT
Frosty steel brown and light chocolate with slightly lighter steel brown faded down from mint color in protected areas, especially around the cap. The surfaces are satiny and the only defects are a pair of faint hairline scratches in the field left of the lower part of the cap. The reverse could easily pass as fully mint state, but there are traces of rub on the very highest points of the hair design. E-MDS, Breen state II. The chips in the field left of the hair are bold and many of the fine die lines remain clearly visible on the obverse. (Note: The sequence of die states for this variety as described by Walter Breen may be reversed. Breen says the early state, his state I, has weak chips in the left obverse field, and those chips grow stronger as the die wears to create his state II. Your cataloger believes the chips start out strong and that subsequent die wear and lapping weaken the chips. Therefore, Breen would call this example with strong chips a later die state for the variety rather than E-MDS as I have done here.) Regardless, there should be no disagreement that this cent is a fantastic example of a rare variety. Called MS60 net AU55 and finest known in the Noyes census list by 10 points, his photo #21540. Bland says AU55 as well but tied for CC#1 with the ANS example (which Noyes grades as EF45). These two are followed by a single VF35 and one VF25. Our grade is AU55. The attribution and Dan Holmes Collection provenance are noted on the PCGS label.

Certificate #35579.63/13457903

Discovered in England (as were many of our finest early cents)-Lester Merkin (privately)-C. Douglas Smith 1965-Alfred L. Bonard-French’s FPL 5/1967-R. E. Naftzger, Jr. (via Stack's) 2/23/1992-Eric Streiner-R. E. Naftzger, Jr. (via William C. Noyes) 2/16/2001-Walter J. Husak, Heritage Auctions 2/15/2008:2040-Chris McCawley 3/17/2008-Daniel W. Holmes, Jr., McCawley & Grellman Auctions/Goldbergs 9/7/2009:60-Walter J. Husak (via Del N. Bland) 8/2/2014-Larry A. Bland Collection