1796 1C Liberty Cap, BN MS(PCGS#1392)

Spring 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3007

Grade

AU55BN

Price

12,000

Lot Description

This is a newly discovered rarity with provenance to the historic port city of Nantes, located on the west facade of France. During the late 18th century, Nantes was a key ally to the United States, offering vital support during the War of Independence. As a bustling maritime hub, Nantes facilitated trade between France and the newly formed American republic, exchanging goods like tobacco, cotton, and currency. This coin likely arrived in France via these commercial exchanges, symbolizing the deep ties between the two nations, and now stands as a tangible piece of transatlantic history. <p><p>It exhibits exceptional quality and strong eye appeal for this challenging transitional issue in the early large cent series. Gently marbled autumn-brown, steely-olive and copper-rose colors mingle on handsomely toned surfaces. Striking detail is soft at central reverse, opposite the highest relief of Liberty's portrait, obverse impression drawn trivially to 5:30, but both sides show full border beading and are sharply rendered in most areas. The texture is hard and frosty with plenty of good gloss, and there are no post-production blemishes of note. Breen Die State II.<p><p>The Liberty Cap is widely admired as the most beautiful cent design ever produced by the United States Mint. Inspired by Augustin Dupre's famed Libertas Americana medal of 1783, it was coined for just four years, 1793 through 1796. Though depicting the same basic design, each of those years is distinctive. The 1793, featuring a high relief portrait by Joseph Wright and beaded borders, is considered the most desirable, especially in high grade. The cents of 1794 appear with a wide variety of portrait styles, divided into three main groups: the Head of 1793, the Head of 1794, and the Head of 1795. Devoted variety specialists pursue all 69 different die marriages, making the cents of 1794 the most celebrated year of the early cents. The cents of 1795 show less variety in portraiture, even as other distinctions are widely collected: thick and thin planchets displaying lettered and plain edges, the rare reeded edge Sheldon-79, and the Jefferson Head pieces, made outside the Mint by John Harper. The 1796 Liberty Cap is the last of the type, composed of six different obverses and 11 total die marriages before the motif was replaced with the Draped Bust of Liberty in the middle of the year. The portrait on the 1796 Liberty Caps is elegant, refined, and artistic, attracting attention from specialists and novices alike.<p><p>