1786 NJ 1/2P No Coulter, BN MS(PCGS#494)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

1304

Grade

VF35BN

Price

16,800

Lot Description

Siboni et al. DS1. As one of the few No Coulter varieties that is more common than Rarity-6, the Maris 12-G is often chosen to represent the distinctive No Coulter type. This example is finer than most, with generally smooth autumn-brown surfaces and soft golden highlights. The horse's head is sharp and struck into high rounded relief. The surfaces are mostly smooth, a little granular at lower right reverse, where some ancient build up is seen along the edge of the shield where it approaches the letter M in UNUM. Reverse also with light striations in the planchet, but while these are numerous, all are small and none rise to a level that warrants individual attention. As is typical, the tops of the letters in CAESAREA are weak, and the denticles above those letters are missing. The central shield is a bit soft, as always seen, but this crisp early die state shows a full base to the horse's head and a clear date; both of these characteristics become weaker as the die state progresses. The dies are in nearly perfect medallic alignment, the reverse rotated just a few degrees counterclockwise. No significant marks are present, only a few minor ones that blend nicely into the overall fabric of the coin. Though not Condition Census, this is quite a lovely example from these dies. We sold a PCGS VF-35 in our 2019 E Pluribus Unum offering for $8,400; this one is comparable in terms of overall surface quality, and it shows better definition at the base of the horse's head. The PCGS VF-30 from our August 2023 sale of the E Pluribus Unum Collection was not nearly as nice due to significant flan flaws.