1787 NJ 1/2P Pony Head, Maris 38-a, BN MS(PCGS#766287)

November 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

1327

Grade

F15BN

Price

780

Lot Description

139.3 grains. An important example of this notable rarity. Light golden brown with a bit of surface iridescence on both sides. The obverse is streaked with many tiny striations, quite typical for this variety and those adjacent to it, while the reverse is smoother and more even. The obverse is aligned to 6 o'clock, with an arc of denticles and the die edge visible at top and most of the date cut off at the bottom. Helpfully (?) someone engraved the numbers 1786 under the plowhandles, likely in the 19th century. No other major marks or flaws are seen, and the sharpness and eye appeal of this piece place it near the highest ranks among survivors of this very elusive die marriage.<p>This coin has been listed at the tail end of both editions of the SHI Census, listed eighth in 2013 and seventh in 2024. In our recent August 2025 sale, the Spiro-Bareford coin reappeared as a PCGS EF-40, bringing $7,200. Formerly listed as fourth best (2013) and sixth best (2024), that piece now looks deserving of a slot around the #3 rank. PCGS offered the same EF-40 grade to the Taylor-EPU coin that brought $5,760 in our November 2019 sale; it was ranked as finest in 2013 and second best in 2024, swapping positions with the Ford-Partrick coin that brought $12,000 as an NGC XF-40 in 2021. We sold the Maris-Garrett-Shaw coin, graded Fine-15 but uncertified, for $3,290 in 2017.