1797 1C Reverse of 1797, Stems, BN MS(PCGS#1422)

Spring 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

2136

Grade

MS64BN

Price

14,400

Lot Description

Breen Die State III. The lustrous and frosted surfaces are richly toned in chestnut-brown patina with hints of faded pink and powder blue. Overall hard and compact with subtle traces of natural planchet texture near the centers. There are few post-production marks, and those that are present are small and have fully toned into the complexion. A horizontal cut beneath Liberty's eye is actually as-made and is seen on all examples struck from this obverse die (S-122, S-123, 1797 NC-2, 1797 NC-3). The surfaces are fully Choice with plenty of eye appeal.<p>Most Uncirculated 1797 large cents come from the legendary Nichols Find from the time of the Civil War. The Nichols Find cents are believed to have come from a bag of roughly 1,000 large cents bought from the Mint in December 1797 by Senator Benjamin Goodhue of Salem, Massachusetts, said to have been partial pay for his government services. Goodhue gave the coins to his daughters and they were passed down in the family, members of which appear to have distributed the coins in the Salem area. By the late 1850s the coins attracted the attention of the nascent numismatic community and stories came to be told of David Nichols from Gallows Hill handing the pieces out for face value. The typical Nichols Find piece has a distinct patination typical of cents struck from the high quality planchets supplied by Matthew Boulton from Birmingham, England. Almost all Mint State S-123 coins can be traced back to this hoard, making this variety one of the more available Draped Bust cents in high grade. In the intervening centuries, these coins have been dispersed far and wide, making an appearance of a delightful Choice Mint State example such as this a notable event.