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Challenge: Winning Bid On Highest Ever Graded NJ MS-66 RB Copper?

 
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 Posted 01/18/2021  1:50 pm Show Profile   Bookmark this topic Add NJcoppers to your friends list Get a Link to this Message
Let's see who will come closest to what the winning bid will be for this highest graded NJ copper in existence:

"1786 New Jersey Copper, Bridle, M. 18-M, W-4890, R.3, MS66 Red and Brown NGC. 155.6 grains.

A breathtaking coin, exhibiting a nearly impossible level of detail for a state copper. The boldly struck obverse is perfectly centered. The famous "Bridle" crack connecting the tips of the horse's nose and trunk is only slightly visible on this early die state. Free of any marks, the broad planchet is remarkably clean and is awash in blazing mint red that begins to fade to a light tan. The eye appeal of this piece is difficult to overstate. The horse, though placed to the right of center, provides a focal point for the viewer with its large and deeply cut eye. The plow is compact but still artfully rendered. Wholesome in appearance and elegant in design, it is hard to imagine a more visually pleasing New Jersey copper. The single finest New Jersey copper, this piece is the only MS66 NGC coin with none finer.

Direct viewing of this piece under magnification reveals extraordinary detail: the strokes left by the engraver's tools as he shaped the horse's head and the plow are distinctly preserved. This is easily visible in the photo enlargements or under magnification. The engraver's strokes resemble a painter's brushstrokes. At the juncture of the plow beam and right handle, for instance, we can see the manner in which the design was carefully engraved into the die. Traces of the coulter and singletree in the beam itself suggest that the various design elements were traced out first, then more boldly incised. Most notable is the plowshare itself, which reveals an interesting anomaly: a 6 has been punched much too high of where it should have been punched for the date, and one can see the tip of it protruding from the top of the plowshare above where the correctly placed 6 appears. As is obvious on this high-grade example, the share was reengraved to cover up most of the errant 6: it bulges out, being cut much more deeply than it otherwise would have been. This could only be fully observed on a coin as well-struck and well-preserved as is this piece.

In contrast to the lettering and the carefully engraved devices, the date on the Maris 18 obverse is crude and poorly placed. One might think it was entirely hand-engraved were it not for the errant 6 described above, which indicates the use of a punch. The erratic placement of the numerals, with the 1 and 6 disrupting the line above, the 8 resting upon it, and the 7 sitting awkwardly below, is difficult to explain, as is the obvious attempt to touch up the punched digits with additional engraving. While the reverse die is perhaps more even in artistic merit, the presence of a notable flaw in the horizontal lines within the chief (the upper part of the shield) suggests the use of a less-experienced engraver who lost control of his burin. The combination of skilled and unskilled die work on this piece is indicative of the checkered workforce available to these semi-professional mints.

The provenance chain for this piece requires additional research. It was sold for $16 at the 1904 sale of the John G. Mills collection, but was bought there by the Chapman brothers themselves and presumably sold privately thereafter. Its whereabouts for most of the first half of the twentieth century remain to be discovered. This astonishing example of a New Jersey copper is clearly deserving of further research. The present auction is only the second time in a century that this coin has been offered publicly. Listed on page 73 of the 2021 Guide Book.
Ex: John G. Mills (S.H. & H. Chapman, 4/1904), lot 397; later, Richard Picker (1958); Norweb Family (Bowers & Merena, 10/1987), lot 1327; Donald G. Partrick."




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 Posted 01/18/2021  1:55 pm  Show Profile   Bookmark this reply Add NJcoppers to your friends list Get a Link to this Reply
My guess: $198,000 (including fees)
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 Posted 01/18/2021  1:58 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
$210,000.00
That's my max bid...ya right I wish.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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 Posted 01/18/2021  2:03 pm  Show Profile   Bookmark this reply Add keith12 to your friends list Get a Link to this Reply
What the hay 1.2 million
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 Posted 01/18/2021  2:55 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
No clue, but god that is a beautiful object.
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 Posted 01/18/2021  3:08 pm  Show Profile   Bookmark this reply Add GMS5 to your friends list Get a Link to this Reply
I'll go $340,000 including BP
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 Posted 01/18/2021  3:48 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
I don't have a guess on the price, but the most fascinating detail to me is that the number 6 was engraved too high at first (almost like the design changed partway through). You really can see the top and bottom remnants of this number.

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 Posted 01/18/2021  4:19 pm  Show Profile   Bookmark this reply Add NJcoppers to your friends list Get a Link to this Reply
@Spence Your observation prompted me to look up this type coin in the "NJ State Coppers" Siboni/Howes/Ish book. Apparently, as you also noted about the "6", there was another "6" punched right above that "6" that was covered up. You can see the very top and bottom of that other "6" in the plow. See attached photos and text.





Edited by NJcoppers
01/18/2021 4:21 pm
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 Posted 01/18/2021  4:31 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
That is good additional context. It sounds like the plough was already there when the errant 6 was punched and so the fix was to make the plough deeper to mostly obscure the number and then the 6 was punched in roughly the correct location. Very interesting!
"If you climb a good tree, you get a push."
-----Ghanaian proverb

"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz

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 Posted 01/18/2021  6:16 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Wow, look at that strike . Amazing example in RB!

Guessing the sold price will be just slightly higher than the sold price in 1904. I'll take a stab at $275,000.
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 Posted 01/18/2021  6:22 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The naivete of the design is particularly evident in this MS example.
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 Posted 01/18/2021  6:42 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply

Quote:
The naivete of the design is particularly evident in this MS example


No arguing that. The engraving is quite crude, but a remarkably example nonetheless.
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 Posted 01/18/2021  8:18 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I'm going with $666.666.
Edited by NumisEd
01/18/2021 8:18 pm
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 Posted 01/18/2021  9:29 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
No idea on the price, but what a stunning coin! How in the world did that survive 235 years of rough and tumble history in such an amazing condition?
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 Posted 01/21/2021  7:04 pm  Show Profile   Bookmark this reply Add NJcoppers to your friends list Get a Link to this Reply
Sold for $156K including the BP.
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 Posted 01/22/2021  5:04 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
NJcoppers, don't know how I missed this thread, on the other one (NJ colonial with corrosion issue) we had the same discussion going, turned out I was a bit off, thinking it might go for 10 times it's last sale price, which would make it $240K or so. I'm a bit surprised it went as low as it did with the market seemingly awash in money for high end pieces right now.

The Brasher Doubloon and Lima Brasher Doubloon ended up bringing big money, almost $12 million for the pair. I've been spending my afternoon running through the catalog and checking the PRLs. Some amazing coins and amazing prices on many it seems. Heritage and Donald Partrick should be very pleased with the results. I missed out being able to watch the online auction go down as a Hockey game was on, but I was checking in. One CCF member won a few items at the auction, so that was neat for him,.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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