1798 1C S-187, BN MS62BN Certification #32783006, PCGS #36128
Expert Comments
Ron Guth
According to Walter Breen, S-187 is "...the commonest variety of the date." This may be true in terms of rarity, but it is not true in terms of condition. This is one tough variety to find in top condition. Mint State examples are nearly impossible to find, none have been certified as such by PCGS, and NGC reports a single MS62BN. Even so, this variety is quite affordable. Where else can a collector obtain a Condition Census level coin for a couple thousand dollars.
The dies for this variety started out almost perfect, then began to crack and crack as more coins were struck. Eventually, the die cracked so badly that pieces of metal began to fall off the die, causing raised lumps (or cuds) to appear on the upper right obverse. The latest state (supposedly, as the coin remains untraced) exhibits a massive cud in the same area -- if this coin exists it was certainly one of the last ones from the dies.
Red-Brown and Red S-187s are non-existent.
Condition Census Learn More
#1 MS65BN PCGS grade
Purchased in New York in 1950 by T. James Clarke Collection - Dr. William H. Sheldon Collection, sold privately on 4/19/1972 - R.E. “Ted” Naftzger, Jr. Collection, sold privately on 2/23/1992 - Eric Streiner - Jay Prrino (The Mint) - Tom Reynolds Collection - Goldbergs 1/2016:205, $35,250 |
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#2 MS64BN estimated grade
Samuel W. Wolfson Collection - Stack's 5/1963:50 - Lester Merkin 11/1968:166 - Gene Reale Collection - Bowers & Merena 8/1995:13 - Gene Reale Collection - Sotheby's 1/1998:28 - Goldbergs 9/2011:559, $35,650 |
#3 MS62BN PCGS grade
Herman Halpern Collection - Stack’s 1988:171, $1,980 - Tom Reynolds Collection |
#3 MS62BN PCGS grade
Howard R. Newcomb Collection - J. C. Morgenthau 2/1945:269, $55 - Milton A Holmes Collection - Stack's 10/1960:1414, $270 - Louis Helfenstein Collection - Lester Merkin 8/1964:17, $500 - Dr. Herbert Rubin Collection - Stack’s 9/2004:36, $8,337.50 - Tom Reynolds Collection |
#5 AU58 PCGS grade
Douglas Bird - American Numismatic Rarities 12/2003:418, $5,750 - Anthony Terranova & Chris Victor-McCawley - Superior 9/2004:412 - Walter J. Husak Collection - Heritage 2//2008:2190, $8,050 - Steven K. Ellsworth Collection |