1792 Half Disme. LM-1, Judd-7, Pollock-7. Rarity-4. AU Details--Obverse Damage (NGC).

1792 Ha

1792 Disme. Judd-10, Pollock-11. Rarity-6+. Copper. Reeded Edge. VF-25 (PCGS). Secure Holder.

1792 Di

1795 Liberty Cap Half Cent. C-2a. Rarity-3. Lettered Edge, Punctuated Date. AU-55 (PCGS). CAC.

1795 Li

1831 Classic Head Half Cent. Original. C-1. Rarity-7 as a Proof. Proof-61 BN (PCGS). CAC.

1831 Cl

1852 Braided Hair Half Cent. First Restrike. B-2. Rarity-5. Small Berries. Proof-65+ RB (PCGS). CAC.

1852 Br

1793 Flowing Hair Cent. Chain Reverse. S-1. Rarity-4. AMERI. Fine-12 (PCGS).

1793 Fl

1793 Flowing Hair Cent. Chain Reverse. S-4. Rarity-3+. AMERICA, With Periods. EF Details--Environmen

1793 Fl

1793 Flowing Hair Cent. Wreath Reverse. S-6. Rarity-3. Vine and Bars Edge. AU-50 (ANACS). OH.

1793 Fl

1793 Flowing Hair Cent. Wreath Reverse. S-6. Rarity-3. Vine and Bars Edge. VF-25 (PCGS).

1793 Fl

1795 Liberty Cap Cent. S-76B. Rarity-1. Plain Edge. MS-63 (NGC).

1795 Li

1808 Classic Head Cent. S-278. Rarity-3. MS-63 BN (PCGS).

1808 Cl

1824/2 Matron Head Cent. N-1. Rarity-1. MS-63 BN (PCGS). CAC.


1841 Braided Hair Cent. N-1. Rarity-5. Proof-66 BN (PCGS). CAC.

1841 Br

1841 Braided Hair Cent. N-1. Rarity-5. Proof-64 RB (PCGS). CAC.

1841 Br

1856 Flying Eagle Cent. Snow-3. Proof-55 (PCGS). CAC.

1856 Fl

1787 Excelsior Copper. W-5785. Eagle on Globe Left. VF-30 (PCGS).

1787 Ex

1787 Connecticut Copper. Miller 33.39-s.1. Rarity-4. Draped Bust Left. MS-64+ BN (PCGS).

1787 Co

1787 Immunis Columbia Copper / Large Eagle Reverse. W-5680. Plain Edge, Narrow Planchet. AU-58 (PCGS

1787 Im

1785 Nova Constellatio Copper. Crosby 2-A, W-1885. Rarity-4+. CONSTELLATIO, Pointed Rays, Small, Clo

1785 No

1778-1779 (Circa 1780) Rhode Island Ship Medal. Betts-562, W-1730. Without Wreath Below Ship. Brass.


1766 Pitt Farthing Token. Betts-520, W-8345. Brass. AU-55 (PCGS).

1766 Pi

Undated (Circa 1670) New Yorke in America Token. W-1705. Brass. Fine Details--Scratches (NGC).


Undated (Circa 1659) Lord Baltimore Shilling. Hodder 1-A, W-1080. Large Bust. AU-50 (PCGS).


1652 Pine Tree Shilling. Large Planchet. Noe-1, Salmon 1-A, W-690. Rarity-2. Pellets at Trunk. MS-62

1652 Pi


Lot:3010  1792年一美分银币 NGC VF 30


拍品分类 外国钱币>银币 品相 NGC VF30
拍品估价 USD 220000 成交价 USD 0
拍卖专场 SBP2016年8月ANA-白金之夜#5 拍卖公司 SBP
开拍日期 2016-08-12 08:00:00 结标日期 2016-08-12 20:00:00 拍卖状态 流拍
拍品描述 1792 Cent. Silver Center. Judd-1, Pollock-1. Rarity-6+. Copper with Silver Plug. Reeded Edge. VF-30 Medal turn. One of the classic American rarities, a type with a direct lineage to Thomas Jefferson and the very earliest days of the Philadelphia Mint. The overall glossy surfaces exhibit delightful copper-rose patina. The silver center is well placed, just left of center relative to the obverse, and has toned to an original dove gray. The letters N and EN in ONE CENT on the reverse are affected by the plug to one degree or another, but all are full and readily appreciable. The obverse is drawn toward the lower right in a trivial manner, the reverse expertly centered with complete denticulation. A few tiny planchet pits on the obverse are noted for accuracy, more significant is an area of considerable roughness over the right third of the reverse that points to environmental damage in that area. An attractive piece all in all, nonetheless, and a highly desirable example of this historically significant issue.

Any great historical object benefits from a paper trail, and perhaps no early American coin has a longer and more impressive paper trail than the Silver Center cent. The trail starts before the founding of the U.S. Mint, in the casual correspondence between the man whose brainchild the Silver Center cent was long thought to be and the man whose brainchild it actually was. Thomas Paine wrote to Thomas Jefferson on September 28, 1790, soon after Jeffersons April 1790 Report on Copper Coinage and his July 1790 report on Weights, Measures, and Coinage, which espoused a thoroughly interconnected decimal-based system. Into this conversation, Paine interjected some thoughts on how to give fractional coins real value:<em>"Of compositions, three methods present themselves -- 1st. Mixing silver and copper in fusion -- 2d. Plating the copper with silver -- 3d. Plugging the copper with silver. But against all these there are very capital objections. -- Wherever there is a want of satisfaction there must necessarily be a want of confidence; and this must always take place in all compounded metals. There is also a decrease in the intrinsic value of metals when compounded; one shilling worth of silver compounded with one shilling worth of copper, the composition is not worth two shillings, or what the metals were worth before they were compounded, because they must again be separated to acquire their utmost value, and this only can be done at a refiners. It is not what the coin cost to make, but what the coin is intrinsically worth when made; that only can give it currency in all cases. Plugging copper with silver is the least detrimental to the intrinsic value of the metals, because they are the easiest separated; but in all these cases the value of the silver put into the composition will be so predominant to the value of the copper, that it will be rather a base silver coin than a copper coin."</em><em></em>Paine suggested a fiat currency, with no consideration of the intrinsic value of the copper coin, made more economic sense: "It is convenience only that ought to be considered with respect to copper coinage, and not money or riches."

Jefferson apparently disagreed. He wrote back almost a year after Paine had sent his note, on July 29, 1791, explaining that he hadnt received the letter until February and figured he would see him that spring. He suggested that Paine publish his observations (which was done, possibly with Jeffersons assistance) but otherwise tabled the discussion, saying:<em>"Your observations on the subject of a copper coinage have satisfied my mind on that subject, which I confess had wavered before between difficulties. As a different plan is under consideration of Congress, and will be taken up at their meeting, I think to watch the proper moment."</em><em></em>With that, Jefferson apparently put the conversation out of his mind until late 1792, when a copper coin plugged with silver, just like Paine had suggested, was struck at the first United States Mint in Philadelphia. Presumably the suggestion for their construction had come from Jefferson, though Jefferson offers the credit to the Mints coiner, Henry Voigt. Jefferson wrote to George Washington on December 18, 1792, enclosing two coins just like the one here offered:<em>"Th. Jefferson has the honor to send the President 2 cents made on Voigts plan, by putting a silver plug worth 3/4 of a cent into a copper worth 1/4 of a cent. Mr. Rittenhouse is to make a few by mixing the same plug by fusion with the same quantity of copper. He will then make of copper alone of the same size, and lastly he will make the real cent, as ordered by Congress, four times as big. Specimens of these several ways of making the cent will be delivered to the Committee of Congress now having that subject before them."

Jefferson and Rittenhouse had gone about producing cents using two of the three methods Paine had suggested. They were pleased enough that they sent specimens of this particular type (and maybe the others, though the paper trail on that question is silent) to President Washington. They would have also sent Silver Center cents to the members of the "committee....to prepare and report a bill to amend the act establishing a Mint and regulating the coins of the United States, so far as respects the copper coinage," named on November 30, 1792 as Rep. Hugh Williamson of North Carolina, Rep. John Page of Virginia, and Rep. John W. Kittera of Pennsylvania. Williamson was a native of Chester County, Pennsylvania, a former mathematics professor and a physician. John Page was a college chum of Thomas Jeffersons and served as his lieutenant governor during the Revolution. Kittera was a Princeton-educated lawyer. No mintage figure has ever been published, or even guessed at, but we can identify two sent to Washington and one to each of these three gentlemen. Perhaps they each received two or more. Given that no less than 14 survive, the mintage could have been as high as 50 pieces, if not more.No early American coin has been so thoroughly researched as the Silver Center cent, led by some superb and objective researchers like Scott Rubin, Pete Smith, Leonard Augsburger, and Joel Orosz. The census of known pieces has become fixed in recent years, settling at 14 specimens with the discovery of a new lower grade piece in 2006.

A few of these have survived in very high grade: the Garrett specimen, graded MS-67 BN (PCGS); the Norweb coin, MS-64 BN (PCGS); the F.C.C. Boyd-Eric Newman coin, MS-63+ (NGC); Alan Weinbergs choice example that remains raw but would likely certify at a Mint State grade; two more discrete specimens that have graded MS-61 BN, one each at PCGS and NGC; and the AU coin, ex R.C. Davis and John Story Jenks, that is now in the Smithsonian. The present example has usually been accorded a status of seventh finest (by Breen in his Encyclopedia) to eleventh finest (the most recent census at uspatterns.com).Of the 14 known specimens, it is remarkable that only one is impounded, namely the one that was fairly recently donated to the National Numismatic Collection. None are in the American Numismatic Society or the collection at Colonial Williamsburg; we know of none in the British Museum or elsewhere abroad. Given the rarity of this issue and its extraordinary level of appeal to collectors of all sort, the rapidity with which these enter the marketplace is also surprising.

Since the 1860s, each decade has averaged 3.8 offerings of a Silver Center cent. Just one sold in the 1910s, while a high water mark of seven sold in the 1880s and halfway through this decade there have already been six sales. Despite the large sums of money that Silver Center cents bring in todays market, at least in an absolute sense, the extraordinary hit parade of Founding Fathers who appear in the cast of this coins history make this rarity seem, if possible, underrated. With its established historical significance, the 1792 Silver Center cent as an issue should appeal to lovers of American history more than nearly any other in the American numismatic canon.,,PCGS# 11001. NGC ID: 2948.,,Ex W. Elliot Woodwards Joseph J. Mickley Auction, October 1867, lot 2135; Colonel Mendes I. Cohen; Bangs, Merwin & Co.s sale of the Cohen Collection, October 1875, lot 380; bought by William Sumner Appleton for $45; bought back by Woodward on behalf of A. Dohrmann; W. Elliot Woodwards sale of the A. Dohrmann Collection, March 1882, lot 437; W. Elliot Woodwards sale of the Lady of Western New York Collection, February 1887, lot 816; Virgil Brand; Kreisberg-Schulmans sale of March 1964, lot 1106; our (Stacks) sale of the Roper Collection, December 1983, lot 425; Heritages sale of the Lemus Collection, Queller Family Collection Part II, January 2009, lot 1500; Heritages Signature Auction of August 2012, lot 5015.