1787 NJ 1/2P Serpent Head, BN MS(PCGS#518)

1787 NJ 1/2P Serpent Head, BN MS (PCGS#518)

August 2019 ANA U.S. Coins Auction Rosemont, IL

Lot Description: 1787 New Jersey Copper. Maris 54-K, W-5295. Rarity-3. Serpent Head. VF-25 (PCGS). A nicely defined example of this iconic variety with dark cocoa patina and olive-gold accents. Uniformly granular in the fields but pleasantly smooth across the high points. The obverse break from the final letter A in CAESAREA remains clear, indicating Siboni Die State 3. Well centered on the obverse but considerably misaligned towards 11 o'clock on the reverse, trimming the letters UR in PLURIBUS. An overall attractive example. The Serpent Head is sufficiently different from its brethren that is has been suggested that it is a contemporary counterfeit, though the authors of New Jersey State Coppers(2013) suggest that these were a subcontract coinage produced by John Bailey in New York City along with the Running Fox varieties. Provenance: From our sale of the Collection of Larry L. Terrell, May 2019 Baltimore Auction, lot 3229. Acquired at the January 1995 Florida United Numismatists Convention. PCGS# 518. NGC ID: 2B4W. Click here for certification details from PCGS.