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Lot 3046

Image Information

Type Coin
Title Lot 3046
Date 1787
Side obverse
Grade 64
Service NGC
Service Catalog # 877
Denomination FUGIO
Description 1787 1C Fugio Copper "Cent," Raised Rims, Cross After Date MS64 Brown NGC. CAC. Newman 1-Z, W-6610, R.7. 154.0 grains. The combination of the Cross After Date obverse and the Raised Rims reverse yields an extremely important single-variety type with claims to pattern status. In the "Fugio Files Updated, Part Twelve," published in the July 1994 issue of Penny-Wise, Michael McLauglin writes: {blockquote}"The elements on this die were hand engraved which lends credence to the probability that this die was a pattern. Against this, however, the proportion of survivors of this variety in lower grade attests to their circulation. Perhaps a 'production pattern' designation to this die would not be inappropriate."{/blockquote} The hand engraving of both dies is not immediately obvious on lower grade pieces, but it is readily apparent on this Mint State piece. This Production Pattern issue may illustrate a stage in the Fugio design process as Michael Hodder suggested in the October 2003 Ford catalog. Since obverse 1 is identified as both a pattern and production obverse, the combination of these two dies is unprecedented among regular issue Fugios. Walter Breen recorded this variety and others from obverse 1 as prototypes of Jarvis & Company's New Haven Mint. The Norweb coin, plated in Newman's 2008 Fugio reference, was graded AU55. The finer of two in the Ford sale was called "Nearly About Uncirculated," which apparently means XF. The Eric P. Newman 1-Z is an impressive example and likely the finest known. The satin surfaces display splendid olive-brown color with a few splashes of steel toning. A few planchet rifts or laminations are typical of the Fugio series. Ex: Eric P. Newman Numismatic Education Society. Realized $55812.50. Description courtesy of Heritage Auctions.

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