1786 New Jersey copper. Maris 11 1/2 -G. Rarity-7-. No Coulter. EF Detail, Environmental Damage (PCGS).150.3 grains. An extremely sharp specimen of this rarity, ranked as the finest extant by Siboni, Howes, and Ish. Deep chestnut brown surfaces show intermingled traces of light brown on the design elements, adding attractive contrast. The reverse tends to dark mahogany, with some ancient green on the right side of the shield. The surfaces are granular, fairly uniform in texture over each side, though the obverse appears smoother than the reverse. Good gloss is present on both sides and the overall visual appeal is excellent. The centering is nearly ideal on both sides. The die rotation is roughly 35 degrees counterclockwise from coin turn.<p>This coin is both sharper and more even in appearance than the second ranked piece in the SHI census of the 12 known examples. That coin, with provenance to the Maris, Garrett, and Picker collections, is in the Anton Collection today. The other 10 coins are all ranked between Fine+ and Good-. Two of them are impounded (New Jersey Historical Society and American Numismatic Society), leaving just 10 coins for private New Jersey enthusiasts.<p>Dr. Edward Maris brought his masterwork on New Jersey coppers into print in 1881, but the discovery of this variety was a literal stop the presses moment. On page 13 of the 16 pages of text included, sandwiched between the descriptions of Maris 48-g and 52-i, Maris noted he had a few new dies to describe. “Having met with a new reverse and new obverse belonging to the coulterless group, since that part of this work which describes it was printed, they will now be noticed.” Maris reverse h came first, followed by a note that marriage “No. 10-h” was “considered unique at this time.” He then described his new obverse 11 1/2 as “1786. Without coulter. Resembles No. 11, but the legend begins and ends further from the plow than in any of those without coulter.” The next line notes this new die marriage: “No. 11 1/2-G. Considered unique at this time.” That coin was included in the 1886 Maris sale and was the finest known until the discovery of this specimen.<p>This variety first sold at auction in 1886. It has sold exactly 10 times since then, making this the 12th total appearance since its discovery. The last offering was from the Ted Craige estate, when we sold a piece we graded Good-4, now carried as VG and eighth finest of 12 known in the SHI Census. That coin brought $17,625 in 2013. This piece is apt to do far better.From the E Pluribus Unum Collection of New Jersey Coppers. Earlier, Anthony Terranova to the R.E. “Ted” Naftzger, Jr. Collection; William O’Donnell Collection, via Anthony Terranova; Stack’s sale of the William O’Donnell Collection, January 2001, lot 100; William Anton Collection; E Pluribus Unum Collection, via Larry Stack.
