Feb. 16, 2001, The Benson Collection Part 1, Sale 8
Lot 254
1793. Liberty cap.
Sheldon-14, Low Rarity-5. Del Bland graded VG-8. Sharpness of Fine
15 but very lightly porous, an "X" scratch has been partially burnished off the
center of the obverse and through the wreath are two long scratches. Dark steel
brown with traces of a dark red color on the reverse.
In mid-1793 Mint
Director David Rittenhouse began searching for an artist capable of creating a
primary device punch (like the head of Liberty) to manufacture nearly identical
dies. Rittenhouse had seen cameo portraits by Joseph Wright, the famous
portraitist of Philadelphia. The talent in Wright's portraits was obvious, and
soon Mint officials engaged Wright to engrave the head punch for what became
the Liberty Cap cents. Wright engraved a head punch, which could be used to
create many similar dies, thwarting possible counterfeiting. However, Wright
died of yellow fever on September 12 or 13, 1793, just days before his design
was employed to coin cents on September 18. Only 11,056 were coined in all, the
first die pairing apparently this obverse die with the bisecting crack. None
are known without the crack, and the die possibly split during the experimental
hardening process or very early in the coining process. Wright's Liberty Cap
punch was also used on a few 1794 obverse dies ("head of 1793"), and Robert
Scot and other workmen at the Mint copied the head punch design, and added
final engraving touches such as the date, lettering and details on the wreath,
as well as creating a new head punch in 1794.
While the "X" on the obverse
has been partially removed, it is not offensive. On the reverse, the long
scratch extends from the left side of the second T in STATES through the E of
ONE to the wreath in a straight line. As stated in Breen's Encyclopedia "The
Liberty Caps are the most famous of the 1793 cents and possibly the most prized
of all large cents." .
Estimated Value $3,500-4,500.
Ex. Ira S.
Reed, privately, 11/13/44 at $100.
Lot 255
1794. "Head of 1793".
Sheldon-18B, Rarity-4. PCGS graded VF-25 and Del Bland graded Very Good
8. Slightly sharper but cleaned and retoned to a medium light brown with
traces of a light golden color around Miss Liberty and dark gray on the obverse
high points and throughout the reverse. Opposite the forehead, across the pole
and left of OF are scratches and most of UNITED is nearly worn smooth. Die
sinking below ED.
An outstanding example of this extremely popular variety
which employs the head of 1793 and was struck very early in the Philadelphia
Mint's history. An important coin even in moderate grade.
Estimated Value
$3,000-4,000.
Ex: Chris Victor-McCawley 2/87.
Lot 256
1794. "Head of 1793".
Sheldon-19b, High Rarity-4. PCGS graded AU-55 and Del Bland graded
VF-25. With numerous pinpoint planchet defects in the obverse fields. Five
points sharper but below BE of LIBERTY is a fine scratch and below 1 in the
date is an edge dent. Appealing medium chocolate brown with a trace of olive on
the right half of both sides. This is an exceptional example of this greatly
coveted variety. Tied for eighth finest known with three others.
Estimated
Value $14,000-16,000.
Ex: Purchased from a coin shop in Peoria, Illinois
by Jerry W. Wienzierl, Jr. 2/7/99; Thomas D. Reynolds 3/1999: Denis W. Loring
2/2000; Robert C. Clark; 2000 ANA (Bowers and Merena Galleries):215.
Lot 257
1794. "Head of 1793".
Sheldon-20b, Rarity-4. Del Bland graded Almost Good-3. Heavy
scratches through the nose, above the head, on the cap and a few right of the
date, otherwise very long, fine ones on the reverse. Dark olive steel in color.
Rare and desirable despite its problems.
Estimated Value $175-300.
Lot 258
1794. Sheldon-24, Rarity-1.
PCGS graded MS-61 Brown, and Del Bland graded VF-35. Choice,
glossy, medium chocolate brown surfaces with a light olive area through the eye
and a small dark olive spot near the lower end of the cap. Well struck and
centered, the surfaces nearly pristine. A perfect cent for a date set or a high
grade type set.
Another lovely coin for the collector who appreciates high
grade copper.
Estimated Value $5,500-6,500.
Ex: Mike Follett Rare
Coin Co. 8/75; Del Bland; Myles Z. Gerson; Denis W. Loring; Jack H. Robinson,
Superior Galleries 1/89:38; Dr. Robert J. Shalowitz 2/89.
Lot 259
1794. Sheldon-24, Rarity-1.
PCGS graded AU-55 and Del Bland graded VF-35. Sharpness of About
Uncirculated-50 but the surfaces are not perfectly smooth, below the lowest
curl is a heavy edge dent, on the obverse is a long, light edge dent with two
others on the reverse, on the neck are two faint scratches and over the left
top of N in UNITED is a nick. Dark chocolate brown.
An opportunity for the
advanced specialist to purchase another high grade example from this advanced
collection of 1794 pieces.
Estimated Value $5,500-6,500.
Ex:
Superior Galleries 10/91:678; Larry Briggs Rare Coins; David Henderson
(Whittier Coins); Superior Galleries Douglas F. Bird.
Lot 260
1794. "Head of 1794".
Sheldon-24, Rarity-1. Del Bland graded VG-7. Sharpness of Fine-12
but uniformly and finely porous. Dark steel with lighter high points.
Estimated Value $175-250.
Lot 261
1794. "Head of 1794".
Sheldon-36, Rarity-5. Del Bland graded VG-8. Sharpness of Fine-12
but covered with a heavy, dull, dark olive patina, most of the high points
being rubbed to a light brown color.
Estimated Value $750-1,500.
Ex:
M & G Auctions 1/96:146; Stuart "Mac" MacDonald; Heritage Numismatic Auctions:
9/97:5060.
Lot 262
1794. "Head of 1794".
Sheldon-41, Rarity-3. Sharpness of Fine-12 but counterstamped.
Counterstamped with a very large P on the cap. On the obverse are a few
heavy edge dents, on the reverse are some scratches and at E in ONE are three
cuts. Medium brown.
No doubt the "P" stands for Perkins or maybe
Philadelphia, who knows? One to research and enjoy.
Estimated Value
$300-400.
Lot 263
1794. Sheldon-42, Low
Rarity-4. Del Bland graded Fine-15. Sharpness of Very Fine 25 but
lightly rough with a small nick above E in STATES. Sharply struck and fairly
pleasing to the unaided eye.
Estimated Value $900-1,500.
Lot 264
1794. Sheldon-43, High
Rarity-2. Del Bland graded EF-45. Sharpness of About Uncirculated-50
with lovely light to medium chocolate brown surfaces that exhibit a very small
pit mark behind the lower end of the cap, a small diagonal nick on the cheek, a
light edge dent at K3 on the obverse and two long, vertical, microscopic
scratches through the left central reverse. Late die state. Very attractive and
very impressive. Tied with several others for seventh finest known. PCGS graded
AU-53 but broken out of the slab.
The obverse is cracked through the date
and another crack at the back of the cap, the reverse has a heavy die crack
through the U of UNITED, which bisects that letter and continues up to the
leaves below the first T in STATES. Don't miss this one, if you are a serious
1794 connoisseur.
Estimated Value $4,500-6,500.
Ex: Heritage
Numismatic Auctions 2/92:1431; unknown; Heritage Numismatic Auctions 6/97:5930.
Lot 265
1794. Sheldon-44, High
Rarity-1. PCGS graded AU-50. A prototype for the grade. Splendid
medium light chocolate brown surfaces with hints of darker brown around the
devices. There are a few trivial signs of handling, none serious or worthy of
mention. Late die state with pronounced cracks obverse and reverse. An
excellent coin for the date or type collector. One of the nicest large cents in
this sale.
Estimated Value $4,000-5,000.
Lot 266
1794. Starred reverse.
Sheldon-48, Rarity-5. Fifth Finest Known. PCGS graded VF-30 and
Del Bland graded VF-20. Medium dark chocolate brown with traces of
microscopic porosity scattered around the obverse, a horizontal pin scratch far
below C in CENT and an edge dent between O and F. Perfectly centered and
sharply struck, all the stars boldly visible. This variety, the most famous of
the entire large cent series, is clearly the highlight of this sale. It is the
fifth finest known, fourth finest available to collectors as one of the
examples graded VF-25 is in the ANS collection and is permanently off the
market. Another example graded VF-30 is very sharp, but has serious defects
making the piece offered here more desirable. The condition census is as
follows:
1). VF-35 (formerly graded EF-40) John W. Adams-Bowers and Ruddy
Galleries, FPL, 1982:43
2). VF-30 (EF-45 but with planchet defects and edge
dents), Garrett--Johns Hopkins University
3). VF-25 ANS Collection
4).
VF-25 Jackman--Sheldon--R.E. Naftzger, Jr.
5). The coin offered here
6).
F-15 Dorothy Paschal Collection
7). F-15 Dr. French:29--T. James
Clark
Two more at F-12
Years may come and go before a similar specimen is
offered. Long time collectors may remember when the spectacular Adams specimen
was offered in 1982, at that time the economy was in deep recession, and most
collectors could not scrape together much money for their collections. Unless
you had a huge reserve fund for "special" coins that appear infrequently, and
could write a substantial check, that would be another opportunity lost. Today,
in 2001 the economy is in much better shape, many collectors have substantial
investments aside from their collections, and more numismatists are able to
afford such a coin. Owning such a piece will put your collection squarely on
the map with the great collections of the past, and future. Of course, rarity
and quality of this magnitude will not come cheap, it never does, good market,
bad market, quality always sells for a premium.
It appears that the ninety
four tiny stars were engraved in the reverse die before the dentils. Some of
the stars are covered over by the dentils, and if the stars were added later,
they likely would have been placed between the dentils. Much speculation has
been written and discussed as to why the stars are there. No answer or theory
has proven definitive on the matter. What is clear to all, is that these ninety
four tiny stars embody all the charm and charisma that make collecting early
coppers one of the most popular and spiritually rewarding pursuits in
numismatics.
Estimated Value $60,000-UP.
Ex: Samuel A. Bispham; S.
H. Chapman 2/1880:162; John W. Hazeltine collection; John W. Hazeltine
3/1881:771: C.T. Whitman; S. H. and H. Chapman 8/1893:826; Dr. Thomas Hall
9/7/09; Virgil M. Brand, 1934; Armin W. Brand; New Netherlands Coin Co. #34
10/51:579; Willard C. Blaisdell 9/74; Del Bland 1/2/85; Jack H. Robinson;
Superior Galleries 1/89:84: Douglas F. Bird.
Lot 267
1794. Sheldon-50, High
Rarity-5. PCGS graded EF-40 and Del Bland graded VF-20. Five points
sharper but numerous very small handling marks on both sides plus a larger one
on the cap. Natural medium chocolate brown surfaces, well struck and perfectly
centered with undamaged edges. Tied for eighth Finest Known. This is a very
important cent for die variety collectors as four of the examples listed higher
in the Condition Census are either off the market or heavily damaged.
This
variety is usually found in a perfect die state, not so on this example, we
note a small but significant obverse die crack extending parallel to the rim
through the tip of Liberty's bust, up through and beyond the pole into the
field, and lower from the bust tip (faintly at the end near the 4) to the lower
tip of the serif of the 4 in the date.
An exciting coin that possesses all
the charm and rarity that make collecting early cents such a wonderful
challenge.
Estimated Value $6,000-7,000.
Ex: Charles J. DuPont,
Stack's 9/54:75; Herbert M. Oechsner, Stack's 9/88:46; Dr. Robert J. Shalowitz.
Lot 268
1794. Sheldon-51, Low
Rarity-5. Del Bland graded VG-10. Sharpness of Very Fine-20, but
somewhat uniformly porous with an edge dent at the end of the pole and
scratches on Liberty and at ED S. Dark olive steel brown.
Estimated Value
$500-800.
Lot 269
1794. "Head of 1794".
Sheldon-54, Rarity-3. Del Bland graded VF-20. More than five points
sharper but on the chin is a short, thin scratch, over the first S in STATES is
a very small edge nick and traces of ancient corrosion exist around many
devices, mostly on the reverse. Medium light brown with dark olive tones and
somewhat glossy from a protective coat of wax applied decades ago.
In the
sweep of time many great collections are formed and eventually sold. This
collection however, is one of the finest we have ever seen. Formed nearly sixty
years ago and very carefully preserved, these coins have scarcely seen the
light of day since WWII. Here is a perfect example, a lovely brown large cent,
clean surfaces and free of the fads and abuse of the last three decades in
coins. An excellent coin for the discriminating collector.
Estimated Value
$750-1,250.
Ex. James G. Macallister, 6/6/44 at $15.
Lot 270
1794. Sheldon-55, High
Rarity-2. PCGS graded MS-63 and Del Bland graded AU-55. With small
planchet defects, mostly in the lower left obverse field. Lovely medium
chocolate brown with a small edge dent over TA in STATES and very impressive.
Edge blundered ONE HUNDRED A DOLLAR. Second finest known behind the MS-60
Hines-Sheldon example.
A truly lovely coin that boasts even color, a sharp
strike and choice surfaces. Only a handful of coins are known of this date is
such high grade, making this a truly wonderful opportunity for the advance
numismatist. There are several superb coins offered in this sale, and we expect
many collectors to come away with a prize or two like this lot. Many of these
coins were put away over a decade ago, and the probably won't be offered again
for many years to come. A dream coin to own.
Estimated Value $15,000-UP.
Ex: Paul S. Seitz F.P.L. 11/46; R. E. Naftzger, Jr.; New Netherlands
Coin Co. 11/73:376; John W. Adams 9/74; Robinson S. Brown, Jr.; Superior
Galleries 9/86:74.