P. Scott Rubin: One of the most desired and rarest New Jersey Coppers is the Date Under the Draw Bar or Plow Beam. All other New Jersey Coppers no matter what ever type it is has the date under the Plow. This 1786 type stands out in style as being very different in design than all others. It should be noted that this design also falls under the designation of No Coulter variety, if a coulter had been added to this type, the date would have been divided by the inclusion of this element.
This rare type is known by two different obverse dies combined with three different reverse dies. Maris 7 and Maris 8 obverse dies are the only dies known to have the date under the draw bar. Maris C, Maris E and Maris F reverse dies were used with the Maris 7 and 8 Obverse Dies. Two of these reverse dies, Maris E and F are only known matched with this rare and desirable obverse variety. The combinations are Maris 7-C, 7-E and 8-F.

The Maris 7-C combines the unusual Date Under Draw Bar with a reverse die that was used with six other obverse dies three of which are considered patterns, the very rare Immunis Columbia obverse (Maris 3), the extremely rare Gen. Washington obverse (Maris 4), and the extremely rare E Pluribus Unum with eagle with shield and stars above the eagle (Maris 5). The Maris 7-C is known by only a unique specimen graded Very Good according to Siboni, Howes and Ish’s book New Jersey State Coppers. This coin was bought to the attention of numismatists in 1959 by James Ruddy who at the time was partnered with Q. David Bowers. It appears from recent information recoded in New Jersey State Coppers, the coin was discovered by noted dealer Lester Merkin from whom Ruddy obtained the coin attributed as a Maris 7-C.

The Maris 7-E uses the same obverse die as seen on the Maris 7-C with a reverse die Maris E that is only known used with this obverse die. Currently only five Maris 7-E coins known the finest estimated to grade About Uncirculated +. This makes the Maris 7-E the most common die combination of the Date Under Draw Bar New Jersey Coppers known.

The Maris 8-F uses different obverse and reverse dies not known combined with any other New Jersey Copper dies. Currently only three specimens are known of this Maris die combination, two of the three coins have estimated grades in the Extremely Fine range. The third is believed to be in a museum collection and its grade is estimated at Very Good.

With only nine coins known with a obverse design with Date Under Draw Bar or Plow Beam, using three die combinations makes this one of the rarest and most desirable coins of the New Jersey Copper issues.

Ron Guth:

The 1786 "Date Under Plow Beam" New Jersey Copper is one of the celebrated rarities of the series and, really, in most of Colonial U.S. coins. It is an arm's length variety that is extremely rare and part of a popular series of copper coins with lots of well-heeled adherents. At least eight different examples are known; though, some sources say there are nine. Four of the known examples are of the Maris 7-E combination; three are of the Maris 8-F combination, and one is from the Maris 7-C combination. As a result, there is considerable demand not only from type collectors but from varoety enthusiasts, as well. Naturally, this type brings amazing prices whenever it appears at auction. The most recent appearance was in 2003, when John Ford's example -- the finest known -- sold for $322,000.

PCGS has not yet graded even a single example of this type.