1787 CT 1/2P Seated Right, Miller 1.4-WW, BN MS(PCGS#917725)

August 2023 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

8245

Grade

AU55+BN

Price

99,000

Lot Description

Landmark 1787 Miller 1.4-WW A Prize of the Series The Discovery Piece, by Lyman Low in 1884 1787 Connecticut Copper. Miller 1.4-WW, W-2740. Rarity-8. Liberty Seated Facing Right. Fine-12 (PCGS). 86.4 grains. Dark olive brown nearly throughout with just a hint of lighter patina at the centers and on the highest points. A trace of trivial granularity under magnification, but the surfaces overall are hard and the coin is quite glossy. Clearly struck from faulty dies that were probably poorly made and failed right away, contributing to the great rarity of this variety. The fields look to be rugged from die wear on both this coin and the other known. Likewise, central weakness from sinking dies is evident on both. A large void at the central obverse of this coin corresponds to the central reverse bulge and is likely as pronounced as it is due to its particular location. A similar but much more shallow and smooth depression is seen at the lower central reverse, while an apparent pre-striking lamination has resulted in a shallow area over Liberty's head. Despite the general unevenness, the coin is well-centered on both sides, much better so than the Newman-Partrick specimen. That one has fuller detail, but it is also nearly 50% heavier, and thus on a fuller flan. If it were not for the obviously flawed flan of this piece, it might well be every bit as sharp a survivor as the other. This stands out as the discovery coin for the variety and carries with it a rich history far beyond that of the other known. It was discovered by Lyman H. Low in 1884. Shortly thereafter, in 1886, it was published by C. Wyllys Betts in his paper, Counterfeit Half Pence, presented before the American Numismatic & Archaeological Society, and then circulated in a printed pamphlet. The very first plate, a simple line cut, is of the "Connecticut Cent," this very coin, as made clear by the inclusion of the coin's unmistakable flan flaws, as well as the alignments and rims of both sides. It was sold in Lyman Low's sale #39, in 1898, where he commented that it was still unique as far as he was aware. Dr. Thomas Hall acquired it and naturally described it in his notebooks. From Hall it passed to Virgil M. Brand when Brand purchased the Hall Collection, en masse. B.G. Johnson purchased the coin from the Brand heirs in 1935 and it was sold to Eric P. Newman who held it for the rest of his long life. It was plated in Taxay, Breen and the Whitman Encyclopedia. From the discovery of this coin, and despite the speedy publishing of it making astute numismatists well aware of its existence, it would apparently be seven decades before another one appeared. Mrs. Norweb bought that one privately from New Netherlands Coin Company in 1957. The Norweb coin was bought by Donald Partrick in 1988, and like Newman, he retained it for the rest of his earthly days. When these two coins finally sold, in 2014 and 2021, they became the third and fourth Connecticut coppers to ever cross the six-figure mark at auction. Of the 354 known Connecticut die varieties, this has an indisputable record as being among the most highly prized. It is also the lone variety featuring Liberty facing right. It is a highlight of the Connecticut series, and certainly of the Sydney F. Martin Collection. More than a century passed between the last two public sales of this piece (its only two on record). Provenance: From the Sydney F. Martin Collection. Earlier ex Lyman Low (who discovered the variety by this specimen in 1884); Lyman Low's sale of the Walter Cutting Collection, May 1898, lot 141; S.H. and H. Chapman; Dr. Thomas Hall; Virgil M. Brand; B.G. Johnson; Eric P. Newman; Heritage's sale of the Newman Collection, Part IV, May 2014, lot 30080. To view supplemental information and all items from the Sydney F. Martin Collection, click here. PCGS# 917725. NGC ID: AZ2X. Click here for certification details from NGC. Additional image by NGC Photo Vision. Learn more at NGCcoin.com