Feb 18-19, 2002, The Benson Collection Part 2, Sale 13
Lot 685
1796. Browning-2, Rarity-3.
NGC graded MS-63. Here is the poster coin for the Benson collection
as it embodies the rich toning seen on virtually all of the coins from this
group. Note the especially bright centers and rich, iridescent blue tones at
the rims. As to the strike, it is full for this variety, the eagle's head is
characteristically weak, as nearly always seen for this variety.
Quarters
were first issued in 1796, and were not struck again until 1804. Further, the
draped bust, small eagle reverse type was issued in very sparing quantities,
and perhaps 500 exist today in all grades. The combined PCGS and NGC population
reports show less than 50 graded in various mint state grades. This coin
resides solidly in the choice category, with its regal toning and prooflike
fields. Liberty's hair, and the eagle's feathers, are especially well struck.
Liberty's hair is as boldly rendered as we can imagine. We do note moderate
hairlines on the delicate fields from an ancient cleaning, and these apparently
limited the grade. This particular coin is identifiable by a tiny mint caused
rectangular planchet flake nestled in the field between the back of Liberty's
curls across from the fourth star. Free of adjustment marks or other
detractions, this stunning beauty will certainly be the highlight of an
advanced collection.
In the summer of 1795 the new Mint Director Henry
William DeSaussure arrived at the Philadelphia Mint with two goals that he
immediately addressed, the first was to coin gold for circulation, and the
other was to improve Robert Scot's flowing hair designs then in use. While the
necessary bond was being met that allowed coinage of gold to begin, DeSaussure
engaged the famed portraitist Gilbert Stuart to submit drawings that could
replace the unpopular flowing hair designs. Stuart submitted a sketch of the
local beauty Anne Willing to the Mint around August of 1795, and by October two
obverse dies were prepared for silver dollars. John Eckstein, and assistant
engraver at the Mint, had translated Stuart's drawing into the now familiar
draped bust design. Eckstein also is credited with the small eagle reverse
design. During this period, the Mint had prepared dies that employed 15 stars,
representing the 15 states then in the new union. By 1796, Tennessee was
prepared to join the union as a state, and this was officially accomplished on
June 1, 1796. However, the two new quarter obverse dies both used only 15
stars, apparently having been engraved prior to the official notice. The new
quarter denomination was struck on four different occasions, beginning April 9,
1796, and continuing until February 28, 1797. Two die varieties were coined,
and this is the more common of the two.
Many of the new quarters were saved
as the first of their kind, and several known have prooflike surfaces which
have long been considered special strikings, presentation coins, or simply
proofs, although no Mint record yet discovered confirms a special striking.
Col. E. H. R. Green (son of the millionaire Hetty Green) collected coins early
in the last century and amassed a staggering hoard of 1796 quarters. It is
believed that Green obtained over 200 1796 quarters, at least half of which
were prooflike, as seen here. The late Abe Kosoff and Andre DeCoppet dispersed
these quarters in the 1940s, and it is reasonable to assume that this coin came
from the Green hoard.
A rarity in all grades, and this one is certain to
draw considerable attention. An American classic, in choice condition with
magnificent eye appeal. Color photo.
Estimated Value $25,000-UP.
From the Benson collection and purchased from James G. Macallister on
February 8, 1945 for $140.00 as "Proof".
Lot 686
1806. 6 over 5, Browning-1,
Rarity-2. PCGS graded MS-63. An extremely rare coin in this grade,
the obverse and reverse are sharply struck especially on Liberty's hair, and on
all but one of the reverse stars. Mottled steel gray toning on both sides, with
hints of blue and silvery gray over luster in the fields. Struck from clashed
dies, especially the reverse. The overdate feature is sharp and clear. PCGS in
their Population Report have only graded 3 this high, with 3 graded higher,
confirming that this one is well up in the Condition Census for the overdate
variety.
Estimated Value $9,000-UP.
Lot 687
1806, 6 over 5. Browning-1,
Rarity-2. EF-45. Dark even gray in color, and well struck
throughout. We note one minor rim problem above star eight. A scarce overdate
issue, one that is well worth the small premium it usually commands. A coin
most collectors will love despite the darker than average color and weak
dentils common to this variety.
Estimated Value $1,500-2,000.
From
Bowers and Merena's Norweb Collection Sale, Part II, March 1988, lot 1517,
earlier purchased by Ambassador and Mrs. R. Henry Norweb at the 1953 ANA
Convention.
Lot 688
1806. Browning-9b,
Rarity-1. VF-35. Bright and lustrous, with the peripheries bathed in
gold shades. Nicely struck for this middle die state, the stars and curls are
sharp and the obverse had not yet been lapped when this one was struck. There
is a vertical die break on the obverse, and some rim crumbling above TE of
STATES. A few minor ticks are noted, two above LIB, another near star ten, and
there is a shallow scratch down from the eighth star. Minor hairlines on both
sides, and the reverse also has some minor ticks from handling. Struck from
clashed dies.
Estimated Value $500-600.
From Stack's sale May, 1990,
lot 443.
Lot 689
1806. Browning-9a, R-1.
VG-10. Cleaned and retoned with beautiful rainbow hues around the
periphery. There are some scratches on the drapery, and a couple of others in
the upper left stars, and a mark or two at the top of the obverse. The reverse
has several minor surface scratches, but is nicely toned.
Estimated Value
$125-150.
From the Benson collection and purchased from Ira S. Reed on
May 20, 1944 for an unknown price.