1806 Draped Bust Cent. S-270, the only known dies. Rarity-1. MS-64 BN (PCGS).Golden toning embraces both obverse and reverse, blended with deeper olive tones on the obverse, lighter and closer to original mint color on the reverse. Gem-quality cartwheel luster covers both sides, matching the eye appeal and surpassing the assigned technical grade. Some light hairlines and faint abrasions are seen on the obverse, most noticeable on the portrait though also affecting the right obverse field. No heavy marks are seen, however, and scrutiny finds just a little contact point on the raised rim above the letter E in UNITED. The reverse is particularly bright and smooth. A little speck sits on the surface at the lower left serif of the letter N in UNITED, another is seen at the right wreath stem. The die state is advanced, equivalent to Breens Die State III, with a crack from the lowest curl to the rim left of the date and a short die crack extending from the rim into the right obverse field near 4 oclock. The bulge left of the date has stolen some detail from the curl and softened the letters STAT in STATES opposite that area on the reverse. Die clash appears ill-defined near the profile, above and below the hair bow, and within the reverse wreath.<p>Under most circumstances an 1806 cent is not a coin that attracts attention. There is but one die variety of the year, just like 1804 and 1809, but this date has never shared those years flashy reputation for rarity. Circulated specimens are common enough, dutifully found and dropped into slots in date collections or variety sets, and then rarely considered again. Only collectors attempting to build collections of high quality Mint State coins ever realize just how challenging this issue can be. In the William Festus Morgan sale of 1932, which cataloged a collection built on the premise of quality, James Macallister devoted more space to the 1806 than any of the 1793s, 1799s, 1804s, or any other lot except for the Jefferson Head cent. Calling Morgans 1806 "the finest 1806 cent we have ever seen," Macallister noted "the rarity of the cents of this year in Uncirculated condition has never been appreciated; we dont recall one that brought much over $100 while 1793s which are common by comparison have brought up to $1000." The coin Macallister was describing sold in Ira & Larry Goldbergs 2009 sale of the Dan Holmes Collection as PCGS MS-63 BN. As late as 2013, when the Paul Gerrie specimen sold, MS-63 BN was the highest grade ever assigned to an 1806 cent by PCGS. Husaks was PCGS AU-50, Rasmussens was NGC AU-55, and Robbie Brown never owned one better than EF. Garrett and Eliasberg both owned circulated examples, and Norwebs was only Fine.<p>This piece appears to have evaded the ardent explorations of the copper cognoscenti for most of its existence, with no traceable auction history before 2008 and no appearance on either of the published censuses. Since acquired by D. Brent Pogue a decade ago, only one finer specimen has been offered, the Halpern-Naftzger-Reynolds specimen in PCGS MS-66 RB generally accorded finest known status. This pieces quality likely places it within the Condition Census as it is traditionally defined.From Heritages Long Beach Signature Auction of September 2008, lot 173; our sale of the D. Brent Pogue Collection, Part V, March 2017, lot 5126.
