1787 NJ 1/2P Pony Head, Maris 38-a, BN MS(PCGS#766287)

November 2019 Baltimore Colonial Coins and Americana Auction

Auktionator

Stack's Bowers

Losnummer

6107

Erhaltungsgrad

XF40BN

Preis

5.760

Losbeschreibung

Superlative 1787 Maris 38-a Siboni, Howes, Ish: Finest Known 1787 New Jersey copper. Maris 38-a. Rarity-5. Outlined Shield, Small Head. EF-40 (PCGS). 149.1 grains. New to the market after 32 years in private hands, this coin was described simply in the Taylor Collection sale of 1987: “Glossy, deep gray surfaces with some scattered verdigris. Especially boldly defined at the centers.” The old inactive dark scale is most notable in the lower right obverse and around the upper and right reverse perimeter. The obverse is aligned to 4:00, with the die edge visible above 9:00 and the last date digit up against the rim. The reverse is shifted right, its left periphery boldly framed by triangular denticles. The reverse is rotated just a bit counterclockwise from proper coin turn. The surfaces are free of significant marks, the devices are very sharply struck, and both dies are in their usual early die state, Die State 1. The two breaks within the shield uprights are seen on all known examples. This is another variety that seems common, a near-twin for the easily available Maris 39-a that doesn’t seem distinctive enough to be a rarity. Dr. Maris changed his opinion of this variety between 1881 and his 1886 collection sale; he initially believed it common, but amended himself, saying “Marked in my work as C, but should be R5, as I have not seen over three.” Siboni, Howes, and Ish underscore this, writing “Maris 38-a is one of those varieties that, while the stated rarity of R5 seems correct on the basis of numbers, it seems to understate how difficult it is to find a good specimen.” The SHI Condition Census lists eight coins. This is the only EF. The Boyd-Ford-Partrick coin is listed second, graded EF-. That piece was described in 2003 as a “landmark 1787 Maris 38-a” and “probable finest known.” That coin was awfully nice, and we could see knowledgeable enthusiasts disagreeing on which is better. After these two, the slope gets slippery: Norweb’s VF+, Bareford’s VF, and four coins graded VF- that include the Henry Garrett coin, last sold in our March 2017 sale as lot 289, and Steve Tanenbaum’s specimen, sold in our January 2012 sale as lot 7556. Both of these coins probably need to be bumped southward, based on their surfaces, whereas the Craige coin (our January 2013 sale, lot 11349) and the Maris-Garrett-Dr. Shaw example (our March 2017 sale, lot 291) should probably get bumped up. Rearranging a selection of coins grading Fine to VF at the lower end of the Condition Census may help drive the point home: this is a really rare variety in nice grade. Whether this is finest or second finest is immaterial, because the odds are nearly 100% that you either need this variety or this piece upgrades the one you have. Provenance: From the E Pluribus Unum Collection of New Jersey Coppers. Earlier, from Bowers and Merena’s sale of the Frederick B. Taylor Collection, March 1987, lot 2217; William Anton Collection; E Pluribus Unum Collection, via Larry Stack. PCGS# 766287and 506. Click here for certification details from PCGS.