1787 Fugio 1C Newman 1-Z, Raised Rims, BN MS(PCGS#878520)

August 2023 Global Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

8442

等级

VF35

价格

148,547

详细说明

Important Newman 1-Z Production Pattern Rarity The Alan Kessler Specimen 1787 Fugio Cent. Pointed Rays. Newman 1-Z, W-6610. Rarity-6+. Obverse Cross After Date, No Cinquefoils, Reverse Label with Raised Rims. VF-35 (PCGS). 143.4 grains. The Newman 1-Z has been an enduring rarity in the Fugio series, its rarity rating having changed little in the last half a century. When sold as part of Fugio cent researcher and author Alan Kessler's collection in 1981, the variety was rated High Rarity-7; a gain of about a dozen specimens has dropped the rarity to the current Rarity-6+ rating in an era when so many coins have been published or gone through public auctions, making them easier to record and track. It is also numismatically rather significant. Newman 1-Z is referred to as the "Production Pattern" variety for a number of reasons. It shares its obverse die with the famous American Congress pattern variety (Newman 1-CC) and given the early state of the dies, was clearly struck soon after the 1-CC patterns (whose AMERICAN CONGRESS reverse legend was rejected by the Board of Treasury on July 6, 1787) and before the regular production varieties 1-B and 1-L. The Z reverse, used later on Newman 12-Z and 19-Z, is notable for the distinctive shape and size of the letters in WE ARE ONE and the "raised rims" and shallow letters on the label, all hand-cut into the die as opposed to the letter punches used on all subsequent dies. This variety comes on relatively high quality planchets, struck medal turn, and given the paucity of specimens around today, was clearly made in limited quantities. All of this suggests it could be considered a pattern issue, perhaps struck for presentation to the Board of Treasury in order to gain their approval and commence normal production, after the rejection of the AMERICAN CONGRESS design. This example is quite nice for the variety, its olive tan design motifs framed by slightly darker fields on both sides. Well struck ever so slightly toward 9 o'clock, affecting just the left extremities of the M and B of the obverse legends. The reverse designs are generally crisp, clear, and quite bold. A short old scratch through the E of WE and another, longer old scratch roughly perpendicular to it and extending into the right field - both are noted for completeness and are barely visible at arm's length. Though not all examples known today were represented on the Rob Retz census of 2004, this one was then ranked eighth in a field of 11 and will undoubtedly be welcomed into a die variety collection or the cabinet of a collector who appreciates the transitional, Pattern nature of the die combination. Provenance: From the Sydney F. Martin Collection. Earlier ex Fred Sweeney; Richard Picker; our (Bowers and Ruddy's) sale of December 1977, lot 5086; NASCA's sale of the Kessler-Spangenberger Collection, April 1981, lot 2410; William T. Anton, Jr.; David Palmer; John Agre and Dave Wnuck (Coin Rarities Online) via Mike Wierzba, June 2008. To view supplemental information and all items from the Sydney F. Martin Collection, click here. PCGS# 877. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA.