1787 Fugio Copper. Pointed Rays. Newman 9-P, W-6755. Rarity-4. STATES UNITED, 4 Cinquefoils. AU-55 (PCGS).First in a pair of distinct die states of Newman 9-P, both in significantly high grade. First is a lovely, fairly lustrous medium brown example of an early, though not the earliest, die state, showing the beginning stage of the reverse die crack starting at the rim around 8 o’clock. The technical grade of this piece is in excess of the PCGS grade - there is no wear, ample mint frost, and no contact marks. This is a variety known to have been a part of the Bank of New York hoard, although in relatively small quantity, and it’s possible this piece is from that source. A few light planchet striations are seen on each side, which probably accounted for the slight reduction in PCGS’s grade, but there are no post-strike problems at all. Very well centered detail, especially perfect in that regard on the reverse, and overall an appealing example despite the planchet’s slightly rustic character.Ex Ted L. Craige, Stack’s Bowers January 2013, lot 11575.
