Eric P. Newman Collection, Part IX (Envelopes)

1796 $2 1/2 No Stars on Obverse, BD-2, R.4, AU55 NGC. Bass-Dannreuther Die State c/b. The Mint first struck quarter eagles in 1796, making this an in-demand first-year type. Two types exist, each produced from different dies. In Early U.S. Gold Coin Varieties, John Dannreuther suggests that stars were at first omitted from the obverse because of the quarter eagle's small diameter, and that they were subsequently added to the new dies for aesthetic purposes. It is this first type without stars that has enduring popularity with collectors. The initial No Stars variety claims a mintage of 963 pieces and consists of two die pairs, BD-1 and BD-2. The former variant is the single-rarest quarter eagle variety from 1796 to 1834, with just six coins extant. BD-2 is the typically encountered variety, and about 100 to 125 examples exist. The lack of stars around the periphery gives this coin more of a medal-like appearance, the same as 1837 half dimes and dimes. Indeed, many people treated these like medals or charms, and today many survivors show signs of use in jewelry. This Choice example shows just the slightest trace of friction from use in the channels of commerce in late-18th century America. The surfaces are uncleaned (unusual for this issue) and each side shows light reddish patina. Strike definition is above average with softness on the lower hair curls that is typical of all coins from this die state. The envelope that accompanies this lot indicates Eric Newman paid $250 for this piece, with no recorded date of acquisition. Ex: Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15098, realized $144000. Images and description courtesy of Heritage Auctions.

1836 P$1 Name on Base, Judd-60 Original, Pollock-65, R.5, PR64 NGC. CAC. Silver. Plain Edge. Die Alignment IV (center of Liberty's head opposite the right side of F in OF). Die State H. This is the final die state for Die Alignment IV Gobrecht dollars. All the die markers are clear, including the diagonal die clash mark above the eagle's wing, the die scratch through the O in ONE, the rim nick above the second A in AMERICA, and the rim nick above the U in UNITED. Account books show that the Mint struck all Judd-60 dollars in the final week of 1836. From the advanced state of this die, it is obvious this was in a small group of dollars struck at the end of that last week of the year. All 1836 Gobrecht dollars are proof strikings; however, few show significant depth of reflectivity in the fields. In fact, although many display only semiprooflike mirroring, this piece shows deep mirroring on each side. The centers are largely untoned, while the margins display bright russet-rose and blue patina. Strike details are strong overall, and the foot of Liberty is noticeably more-well defined than usually seen. Few other areas of numismatics have been the subject of such controversy and radical revision as Gobrecht dollars. The findings of John Dannreuther, Saul Teichman, and Craig Sholley rendered early studies obsolete. Their findings resulted from close examination of dozens of Gobrecht dollars, especially those from the collection nearly 100 pieces of Dr. Julius Korein, now permanently housed in the ANS in New York City. One of the findings of the DTS (Dannreuther, Teichman, Sholley) researchers is that die alignments do not progress smoothly from Die Alignment I to II, then IV to III, as expected. Instead, the emission sequence went from DA I to IV, then to II, back to IV, then back to I, and finally ending in IV again. The progression of minuscule rim anomalies on the reverse tells the exact sequence of production of the 1836 Gobrecht dollars. In the case of this particular piece, it was one of the final coins struck at the end of the production run. This is among the finest Gobrecht dollars known. NGC has certified only five other pieces in PR64, a mere two coins are finer (both are PR65), and PCGS has never graded a finer example. CAC has endorsed only two other pieces in PR64, and neither of the two higher-graded dollars are CAC certified. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $40.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15097, realized $84000. Images and description courtesy of Heritage Auctions.

1798 $1 Large Eagle, Pointed 9, Close Date, B-31, BB-115, R.4, AU58+ NGC. CAC. Bowers Die State II, or possibly earlier, with faint evidence of the reverse die crack to the right wing tip (to the viewer's left). A faint guide line is visible inside the reverse border at about 12:30. While certainly not a rare variety, the 1798 B-31, BB-115 dollar is elusive in high grades. Only two AU examples appeared in the Notable Specimens section of the first edition of Q. David Bowers Silver Dollar Encyclopedia, and that number increased to five AU examples in the second edition. The present coin did not appear in either of those lists and is finer than any that are recorded. This piece is the finest that we have ever offered, and it is clearly finer than either of the AU55 pieces that we have offered, one in 2003 and the other in 2008. This impressive example is highly lustrous with light champagne toning over the satiny silver surfaces on both sides. Scattered marks are evident, but all are trivial. Rings of blue, amber, and gold patina cling to the peripheries on each side. Ex: Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15096, realized $33600. Images and description courtesy of Heritage Auctions.

1796 $1 Draped Bust Dollar, Large Date, Small Letters, B-5, BB-65, R.2, MS63 NGC. Bowers Die State II. The Mint's second director, Henry William de Saussure, played an important role in the redesign of the nation's early coinage despite his short (only a few months) tenure at the Mint. Under de Saussure's direction, Robert Scot redesigned the half eagle and eagle in Greco-Roman fashion with a draped bust of Liberty. Similar influences inspired the Draped Bust motif that was introduced in late 1795 for the silver dollar, but with a less matronly portrait. The design was soon adapted for the smaller denominations although with minor modifications. In contrast to the free-flowing tresses of the Flowing Hair motif, Scot's Draped Bust design was an altogether more formal treatment of Liberty. A fillet, or ribbon, gathered the hair in sophisticated fashion, and intricate drapery folds curved shoulder-to-bust. The Small Eagle reverse was redesigned, but not as successfully, and it was soon replaced by the Heraldic Eagle - a more forceful design - adapted from the Great Seal of the United States. Among the 1796 Small Eagle dollars, the BB-65 (Bolender-5) variety is the sole die marriage with a Large Date in the style of 1797, paired with a Small Letters reverse. The repunching of the 6 in the date is clearly seen at the ball and the adjacent inner curve, as well as at the inside top loop. On this coin, the diagnostic die lump and bulge at I in AMERICA is in an early stage, not yet touching the C. Colorful shades of blue, green, and plum cede to tan-gold and ivory hues at the centers. The strike is uniformly sharp, with minor incompleteness at stars 2 and 3, and at the eagle's leg and breast. Seemingly all of the high-grade examples share these few areas of slight weakness. Full mint luster glows beneath the toning. Magnification reveals a few light lines and tiny contacts, but none that detract from the excellent eye appeal. This is clearly the finest 1796 BB-65 Heritage has had the privilege to offer. Only one example of the variety is numerically finer - the former Pogue coin, which traces back to the Thomas Cleneay Collection. The present coin is perhaps a bit sharper than that example, with the eagle's head and neck plumage more fully defined. While unlisted in the current edition of the Bowers Encyclopedia of United States Silver Dollars, this exact coin topped the list of Notable Specimens in the 1993 edition of the Encyclopedia. NGC reports one other MS63 example, with none finer (8/17). Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $50.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15095, realized $120000. Images and description courtesy of Heritage Auctions.

1795 $1 Flowing Hair, Two Leaves, B-1, BB-21, R.2, AU58 NGC. CAC. Bowers Die State 1. The entire output of the BB-21 die marriage was struck from perfect dies, where the only Mint-related anomaly is an underdigit 1 beneath the primary 7 in the date. Liberty's portrait is positioned high on the obverse -- higher than any other Two Leaves variety with the possible exception of the similar-but-rare BB-15 die pair, of which only five pieces are known. The BB-21 variety is far more available than that. Indeed, it is the "die pair of choice" for collectors wanting a Two Leaves Flowing Hair dollar for type. This is an exceptionally pleasing example, with smooth, semireflective surfaces and delicate iridescent toning at the margins. Shades of cherry-red and grayish-blue complement light, golden-gray centers. Surprisingly, this is just the second 1795 Flowing Hair dollar we have listed from the extensive Eric P. Newman Collection. The other was a stunning B-5, BB-27 coin graded MS65, which realized over $600,000 in our November 2014 Eric P. Newman offering, as the third finest-known of the Three Leaves reverse type. In comparison, the present coin lacks only the lofty Mint State grade while representing the Two Leaves type. The sum total of all certified Two Leaves dollars suggests that they are about half as prevalent as the Three Leaves coins among survivors in all grades. Much like the BB-27 dies, the BB-21 variety displays motifs that were deeply impressed into the dies. As such, they were susceptible to early wear on the high points (Liberty's hair strands and the eagle's breast). This BB-21 coin shows a touch of wear on the eagle's breast feathers, but Liberty's flowing hair remains sharply defined. A few tiny marks are visible with magnification, but there are no adjustment marks and the coin is beautifully centered on both sides. Mint luster glows from the recesses around crisply struck devices. The brown kraft envelope that once held this exceptional example indicates it was considered Uncirculated when in the "Colonel" E.H.R. Green holdings, as it was throughout its time in the Eric P. Newman Collection. The coin is now certified AU58 NGC. It is remarkable that any coins struck during the early days of "screws and rollers" at the U.S. Mint survive in Uncirculated or nearly Uncirculated state -- much less with the natural eye appeal and smooth, precisely made surfaces of this outstanding, borderline Uncirculated example. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $35.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15094, realized $54000. Images and description courtesy of Heritage Auctions.

1839 50C No Drapery, WB-101, Die Pair 1, R.3, AU55 NGC. Two long, faint intersecting die cracks isolate a large portion of the lower reverse - one stretching from the edge above R in AMERICA, through the eagle and shield, to the opposing edge just left of the single olive leaf. A second crack encircles the outside of ERICA, along the bottom of the denomination, and terminates in the field near the outer pair of leaves. The obverse is one of four true No Drapery varieties (all dated 1839) for the Seated Half series, with star 1 close to the rock and the drapery folds absent according to the original Gobrecht design. Blue and golden-tan toning covers glossy fields and devices. A few small marks and light rub earn the Choice About Uncirculated designation. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $20.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15093, realized $3360. Images and description courtesy of Heritage Auctions.

1806 DT50C Half Dollar, Private Restrike, J-A1806-1, R.7, MS65 NGC. Overton Obverse 11. This Judd Appendix A piece is a privately made die trial, produced outside the Mint. It was struck in white metal on an oversized planchet with a plain edge and a blank reverse. Overton's 1806 Obverse 11 was used to strike two Pointed 6 half dollar varieties, O-123 and 124. It is distinguished by the tops of the 1 and 6 in the date attached to the curl and bust. USPatterns.com states "several examples are known," which we interpret as R.7. Of the pieces known, a few are combined with a reverse that was impressed by an embossing die for a 12-cent stamp that features a portrait of Henry Clay. The surfaces are remarkably bright and unoxidized. Heavy die rust is seen across the surfaces, as expected. There is also a rectangular perforation in the planchet below the date, extending from the left side of the 8 past the 0. In his Illustrated History, Abe Kosoff stated his belief that David Proskey struck these pieces. The 1806-dated die exists today in the collection of the American Numismatic Society. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $20.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15092, realized $10800. Images and description courtesy of Heritage Auctions.

1806 50C Knob 6, Small Stars, O-107a, T-3, High R.4, AU55 NGC. Tompkins Die State 1/3. Die crumble at the edge above LI of LIBERTY is the sole sign of the late die state on the obverse, while the reverse is in its most advanced state with rim crumbling into the dentils below the left claw and stem. A faint die crack at MERI confirms the die stage. O-107a is almost always weak at the upper-right field stars, clouds, and O in OF as demonstrated by the present coin. The strike is otherwise crisp, with biscuit-brown toning at the centers and gunmetal-blue accents at the margins. Mint luster shines through the toning with glints of attractive iridescence. A scarce Knob-6, Small Stars type, and always in demand. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $3.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15091, realized $10200. Images and description courtesy of Heritage Auctions.

1797 50C O-102, T-2, Low R.6, AU55 NGC. Amato Unlisted. This is the final of the four Draped Bust Small Eagle half dollar varieties, pairing the 1797 obverse die with a new reverse die. The older reverse die had been paired with the 1796 15 Stars, 1796 16 Stars, and 1797 O-101, after which it shattered (1797 O-101a late die state). The new reverse differs from the previous one with a slightly different alignment of the palm and laurel wreaths with respect to the legend. It is the rarest of the four varieties. The 1796-1797 half dollar saw a minuscule production of 3,918 pieces. Collectors seeking to assemble a complete set of United States design types require one example, early half dollar date collectors need both dates, and variety specialists require all four die marriages, plus perhaps the late die state issue. Moreover, our continuing research on this series indicates that at least 30 percent reveal one or more impairments. These factors impart increasing pressure on original, problem-free specimens, keeping the cost of acquisition beyond all but the more advanced, specialized collectors. This is the finest O-102 coin listed on either grading service's population report. NGC has graded four, with this AU55 the finest, followed by a single VF and two VGs; PCGS reports only two of this variety, a Fine and a VF (7/17). However, we are aware of an NGC MS 61 1797 unattributed on the holder, offered and unsold by ANR in its Allison Park-Pittsburgh sale of August 2004, lot 420. This example was also an O-102 per the March 2017 AMBPR (information courtesy of Sheridan Downey and Steve Hermann). The present Choice AU offering yields outstanding technical quality and aesthetic appeal. Reddish-brown and purple patina gravitates to both the obverse and reverse margins, being more extensive with deeper hues on the former. This cedes to greenish-yellow in the remaining obverse field, leaving Liberty's portrait mostly silver-white. The reverse center displays the same silver-white color pallete. Liberty's hair strands and curls are sharply delineated; only the hair adjacent to the forehead reveals high-point wear. The gown folds and lines are likewise sharp. The eagle's wing and tail feathers are well-defined, as are the laurel and palm leaves. The dentilation is full, nicely framing the perfectly centered devices. No adjustment marks are evident, and none of the few circulation marks are worthy of individual mention. All in all, this highly desirable, two-year key type coin is a great choice for a high-grade, specialized collection. While not listed in the Heritage-published 2012 reference The Draped Bust Half Dollars of 1796-1797, the Green-Johnson-Newman specimen will be entered at HA.com/JonAmato, illustrating new discoveries and recent auction prices realized. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $300.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15090, realized $168000. Images and description courtesy of Heritage Auctions.

1795 50C 2 Leaves, O-119, T-1, R.4 -- Improperly Cleaned -- NGC Details. AU. Tompkins Die State 2/1. The omnipresent pellet-like die lump above star 15 is the usual pick-up point for the Overton-119 variety. An equally diagnostic die line from E in AMERICA to the adjacent wingtip often goes unnoticed. While this coin was cleaned at some point in the past, pleasing silver-gray surfaces deepen to slate-gray shades at the borders. Sharply struck centers show only brief wear. The fields are mostly smooth and unmarked despite some remnant delicate lines and small ticks. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $40.00; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15089, realized $10200. Images and description courtesy of Heritage Auctions.