1787 Fugio 1C Newman 21-I, United States, BN MS(PCGS#878417)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

1422

Grade

XF40BN

Price

3,840

Lot Description

156.6 grains. An important example, not only of Condition Census quality for the variety, but the nicest example of the rare early unclashed die state we've ever seen. This variety generally shows perhaps the boldest reverse clash in the entire Fugio series, which has a lot of impressive clashes to choose from. Prior to this one, the highest grade example of this die state we've had appears to have been the Peter Scherff coin back in 2010. This coin is much nicer, with smooth medium brown surfaces that are close to problem free. The reverse is sharp and ideally centered, while the obverse is also well defined and shows its complement of denticles at base and left. A couple of trivial hairline scratches are seen on the gnomon at central obverse, and a little dig is noted between the date and the cinquefoil that follows. As Retz describes the early die state, this piece shows "one almost imperceptible reverse clash; no clash marks on the obverse -- very rare." Little more than the impression of the outline of the sunface can be seen, visible with careful attention inside the ring at 6 o'clock.<p>Newman 21-I is a very difficult variety to find nice. In the last two decades, we've sold just three that merited an EF grade from PCGS. The Syd Martin EF-45 (PCGS) from our August 2023 sale is the highest graded example we've offered, though the EF-40 (PCGS) Star of Texas coin in our June 2022 sale brought a bit more because of its impressive visual appeal. The Retz coin, graded EF-40 (PCGS), made its first auction appearance in our November 2012 auction, having been discovered by Rob in an old-time local collection in the Pacific Northwest, and has not reappeared since. The two coins Retz listed atop his census were an AU from our February 1975 Essex Institute sale that is since untraced and the nice example in a New York City Collection that last appeared in our (Bowers and Merena's) sale of March 1996. This coin was third and the Star of Texas coin was fourth. Most of the well-formed Fugio specialty collections we've sold have included coins in the VF range or pieces with EF sharpness but notable problems. This piece is a major opportunity for any specialist who needs an upgrade, as there hasn't been a clearly superior specimen on the market for decades.