The
Draped Bust cents of 1798 represent one of the most dynamic issues of early
American copper coinage, with significant modifications to both the obverse and
reverse design types throughout the year. With 46 distinct die pairings, the
challenge this issue presents to collectors is on par with some of the
pre-Federal copper issues from Connecticut and New Jersey.
The
addition of an extra curl to Liberty’s hair partway through the production year
defined the Style II Hair design type, establishing two pronounced
classifications of 1798 cents. In addition to both the Style I and Style II
Hair obverse types, two known overdates exist, and four different reverse types
were used. An example of the Style II Hair, Reverse of 1799 type, the Sheldon
166 variety is perhaps the most common die pairing for the year, readily
available in all grades up through Very Fine. However, examples become scarce
in Extremely Fine, and the Condition Census begins at the Choice AU level.
The
1991 reference by William Noyes lists two examples graded “60+” tied for first
place: the Sheldon-Naftzger coin now certified MS-64BN (PCGS), and the untraced
Newcomb-Morgenthau 2/45:230 example. Bland places the Newcomb coin distinctly
in first at “MS-61” with the Naftzger piece in third, calling it “AU-55.” Though
both the Noyes and Bland censuses largely account for the same handful of coins
presented in a trivially rearranged sequence, the present example has curiously
evaded both of these rosters. Having been recently discovered in an old English
cabinet, this lovely MS-62 (PCGS) specimen represents a seemingly previously unknown
example that is among the finest survivors of the S-166 die pairing.
The obverse
of this lovely Mint State piece displays subtle marbling of cocoa and tobacco
hues, with a rich caramel dominating the reverse. Delicate pearlescent luster
glistens across smooth surfaces, with pinkish areas visible on the reverse.
Overall bold, though exhibiting peripheral softness that is characteristic to
this die pairing. The arcing crack in the lower left reverse has advanced to
nearly devouring the E of UNITED, alluding to the late die state. This is an
attractive and desirable representative of both the Sheldon 166 variety and the
1798 issue.
This
Condition Census jewel will be offered in the Rarities Night session of our
November 2016 Official Auction of the Whitman Coin & Collectibles Expo. To
consign your rarities to this showcase event, please contact our offices today
at 1-800-458-4646 to speak with a Consignment Director and see what Stack’s
Bowers Galleries can do for you.
