1787 Fugio 1C Newman 10-G, 1 Over Horiz. 1 United States, BN MS(PCGS#878085)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

1371

Grade

XF40BN

Price

24,000

Lot Description

161.9 grains. A really beautiful Fugio that just happens to be a superb example of a rare and desirable major variety. The Newman 10-G is the sole die marriage that composes the 1 Over Horizontal 1 / UNITED STATES type, lending additional importance to this piece. The obverse is picture perfect, with ideal smooth and glossy surfaces that display choice light brown color with a bit of attractive contrasting woodgrain. The centering is about perfect and no marks are worth noting. A little mint clip is seen at the edge at 3 o'clock, and the soft lower periphery exposes a bit of planchet texture, but we have no criticisms to make. The reverse is just about as nice, with only a little lamination outside the ring at 10 o'clock. The denticles at the bottom of the reverse are stouter than elsewhere, but the centering is very good. The obverse is clashed at least twice, offering a bold appearance, while the single reverse clash is quite subtle. Both obverse and reverse are in advanced states, equivalent to Newman Obverse State D and Newman Reverse State C, with a substantial die break at F of FUGIO, an arc crack through the rings from 3 o'clock to 6 o'clock, and a heavier break at the rim near 2 o'clock on the reverse.<p>This place is ranked third in the Retz census, but there's a wrinkle: his top two examples are actually the same coin. We sold the best one (aka the second best one) as a PCGS MS-63 BN back in September 1997; it has since been removed from its certified holder. The only other example we've ever offered certified this fine or better was the Fricke PCGS EF-40, sold in our November 2021 sale at $9,000, though we should note the identically graded example that happened to be boldly counterstamped WELLS & WILCOX across the obverse in our August 2023 Syd Martin sale. After that, researching Fugio specialists won't find much. An AU Details--Environmental Damage (PCGS) coin sold in 2022, and we've had a few EF Details coins over the years, but the next best wholesome example was a VG. The Retz census includes several coins he graded VF with various problems, and Ford's was only "About Fine." This variety is one of the most important in the series as a <em>Guide Book</em> variety that is represented by a single die pair, and it's also one of the most challenging to find nice in the entire die marriage series.