1797 1/2C C-1, 1 Above 1, BN MS(PCGS#35101)

The Regency Auction 41

Auctioneer

Legend Rare Coin Auctions

Lot Number

1

Grade

MS66BN

Price

176,250

Lot Description

FROM THE BRUCE MORELAN COLLECTION Ex Missouri Cabinet as noted on the insert. This is an absolutely incredible half cent! The quality and condition are off the charts! Everything about this coin is IMPRESSIVE! A bold cartwheel luster actually rolls along the obverse surfaces which are smooth and free of any problems. Indeed any little mark or fissure is from using a cut down Talbot Allum and Lee Cent as a planchet. Evidence of the undertype can be seen at the lower left obverse periphery and at ICA on the reverse. Rich brown surfaces show hints of a steely blue patina, which is quite attractive, especially when the light hits it. The obverse strike is about as full as you could hope to ever see on a 1797 half cent., though we note a touch of peripheral weakness on the reverse. This coin is AMAZING to view in hand, just to contemplate the history behind it, and marvel at how, after more than 220 years a COPPER coin can be so perfectly preserved, without any corrosion, carbon spots, or other issues that plague coins of this vintage. The U.S. mint did not produce their own copper planchets at this time. Most copper stock was sent over from England, but in 1797, the mint purchased the remaining 1794 and 1795 cent tokens produced by the New York firm Talbot, Allum, and Lee. These were then cut down to the proper size and weight for half cents and struck into new coins. As mentioned, portions of the original coin are visible on this SUPERBLY preserved gem. Equally impressive is the fact that the provenance of this coin is traced back to the Edward Cogan May 1871 auction where it was plated as lot 878. It was then in the Virgil Brand Collection, then part of the Brand Estate, sold to Burdette Johnson in 1935, went through the hands of various intermediaries until it was placed into The Tettenhorst Collection (Missouri Cabinet); Legend Numismatics; Legend Rare Coin Auctions Regency Auction XVIII, lot 115, unsold; Legend Rare Coin Auctions Regency Auction XXV, lot 28, unsold; Legend Numismatics, privately to Bruce Morelan. PCGS 1, NGC 0, CAC 1. This is among the absolute FINEST 1797 C-1 in existence. It is the highest graded as a BN, and only a single coin is graded as a 66 RB by PCGS (the Bushnell-Jackman-Foxfire-Pogue coin). The presently offered GEM is from an earlier die state than the RB Pogue coin and possesses a greater overall eye appeal. It did realize a much higher price, realizing $299,000 in the February 2014 auction of the Missouri Cabinet. The Pogue coin sold at the absolute bottom of the market, February 2016, realizing only $223,250. Now that the Pogue coin is put away again, this is the ONLY GEM example that will be available on the market for some time. If your area of interest is early half cents, this is a MUST have! Cert. Number 27234630 PCGS # 1042.00