1787 Fugio Copper. Newman 19-Z, W-6975. Rarity-5. STATES UNITED, Label with Raised Rims. MS-64+ BN (PCGS).A simply superb example of this scarce, distinctive and prized die variety featuring raised rims on the ring that bears STATES UNITED. Additionally, it is a new specimen to the market, as it was only recently discovered in an old collection and it is unlikely that it has ever been published before. The surfaces have taken on a pleasing deep steel brown patina that is evenly distributed across both sides. However, there are inviting nuances of faded original mint red remaining on the reverse, mostly in the recesses close to the chain links. Generous lustre is noted throughout not only the fields, but across the raised motifs as well, a testament to the incredible freshness, originality and legitimate high grade of this specimen. A couple of gentle darker streaks at the lower reverse are associated with minor planchet flaws, while traces of natural planchet roughness remain close to the rims. These features are commonly seen on this scarce variety, and are frequently more severe than those seen on this piece. It is a beautifully struck specimen overall. The obverse is better centered than most seen, with the border complete all around, while on the reverse the border is off the flan just slightly toward 4:00. Excellent definition is seen through the centers, and even peripherally, as noted in the complete sun face and nicely separated sun rays.<p>To date, the finest known specimen has been considered to be the better of the two that we (Stacks) sold in Part I of the John J. Ford, Jr. Collection, in October 2003 (lot 310). We have not seen that coin in years but a review of the 2003 plates and the description suggest that these coins are similar enough that in-hand comparison is likely necessary to determine which is actually finer. This said, the present specimen does appear to be a bit sharper as the weakness noted at the upper right of the raised rims in the reverse circle on the Ford specimen is certainly not seen here. This one is quite sharp in this area. Additionally, the centering is better on this example. Whichever coin slightly edges the other out of first place, we can easily identify this as one of the finest known. It is an undeniably lovely specimen of a coveted variety and suitable for the finest of cabinets.
