1787 CT 1/2P Draped Bust Left, FNDE, BN F12BN 认证号50449205, PCGS号388

1787 Connecticut 1/2p, M32.5-aa, W3260, INDE/FUDE = FNDE, R4. A nice example of an interesting variety, and with two very different auction results. This coin was lot #6530 in the Stacks Americana sale of 01/16/07, where it was described as: “1787 Connecticut copper. M.32.5-aa. Rarity-4. Draped Bust Left. FNDE. Choice Very Fine-30. 111.9 grains, 27.5 mm. A truly fascinating variety in the series, with the reverse legend INDE punched over an initial errant FU that suggests the die sinker mistook this die for that of a Fugio cent produced concurrently in the same facility! Medium brown with darker toning around peripheries and throughout fields. Easily VF or better where struck, though the profile of the obverse figure and right side of the reverse figure lack detail and instead show the texture of the unstruck planchet. The FNDE characteristic is very clear. Ford's was far more worn but still sold for $1,725. This is a tough variety to find nice. PCGS has certified only three for its Set Registry participants, none better than VF. Provenance: From the George Polis Collection; previously from McCawley-Grellman's sale of the Scott Barnes Collection, October 1998, Lot 224.” Back in that 2007 auction, this coin sold for $977.50. Fast-forward 17 years to 11/22/24, where this coin just realized $168 in the Stacks Bowers internet only auction as lot #8453, and now graded PCGS F15 instead of raw VF30. At the time of this description, PCGS had graded just 17 examples of the FNDE variety #388, and at least three of those were the much rarer M32.8-aa variety. Kevin Vinton was the lucky winner at that bargain price, and I purchased the coin from Kevin on 12/28/24. So $168 is way too cheap and $977.50 is way too much, so I am offering this coin at $350 which should be Goldilocks. PCGS #388.12/50449205 “Draped Bust Left, FNDE.”

Ron Guth

The 1787 FNDE variety is an interesting variety caused by an error on the die engraver's part. In reality, there never was an F punch, so instead of using an I punch to start the word INDE, the engraver used an E punch that lacked the lower serif, giving the impression of an F.  It is unclear if the engraver used an I punch to cover his mistake, but clear top and middle serifs appear on the right side of the letter.

The FNDE reverse was assigned the "aa" designation in Miller's numnering scheme.  The "aa" reverse appears on two different die varieties, as follows:

Miller 32.5-aa (Rarity 4)
Miller 32.8-aa (Rarity 6)

Most examples of this variety are in low grade (VF or lower).  The best example is an AU that was once part of the collection formed by George C. Perkins.