1798/7 Draped Bust Cent. S-152. Rarity-2. MS-61 BN (PCGS). CAC.<strong>Type:</strong> Draped Bust.<p><strong>Design:</strong> Obv: A draped bust of Liberty faces right with the word LIBERTY above and the date 1798 below. Libertys hair is tied with a ribbon, the ends of which are plainly evident at the back of the head. Rev: A wreath surrounds the denomination ONE CENT, the base of the wreath bound by a ribbon tied into a bow. The legend UNITED STATES OF AMERICA is around the border and another expression of the denomination 1/100 is below.<p><strong>Weight Standard:</strong> 10.89 grams.<p><strong>Diameter:</strong> 29 mm.<p><strong>Die Variety:</strong> Sheldon-152, Breen-13. Obv: Style I Hair (a.k.a. Head of 1797) without an extra curl in Libertys hair at the shoulder. Style II Letters, the tail of the R in LIBERTY is curved. Wide Overdate with the right top of the 7 underdigit not visible -- this is diagnostic since the only other overdate obverse of this issue is a close date with both points of the 7 underdigit showing above the 8. S-152 represents the only use of this obverse die. Rev: Wide Fraction with both the numerator and denominator distant from the bar, the crossbar of the letter E in AMERICA is connected to the upper pendant. This reverse also appears in the NC-1 pairing.<p>Along with S-150 and S-151, S-152 corresponds to the 1798/7 listing for this issue in the <em>Guide Book</em>.<p><strong>Die State:</strong> Noyes C/A, Breen III. Obv: Pronounced crack from the border at 8 oclock into Libertys hair curls below the ear. A lighter crack from the left border to the ribbon ends is just beginning to form. Several die chips are evident in the field below the letter L in LIBERTY, die clashed above and below the ribbon ends. Rev: Perfect.<p><strong>Edge:</strong> Plain.<p><strong>Mintage:</strong> Federal records provide a mintage of 979,700 cents during calendar year 1798. Popular numismatic references such as the <em>Guide Book</em>, however, list a mintage of 1,841,745 coins for the 1798-dated Draped Bust cent issue. The exact number of coins struck from 1798-dated dies is unknown, although it certainly includes most of the 979,700 cents delivered during calendar year 1798, most of the 904,585 cents delivered during calendar year 1799, and perhaps also some coins struck in 1800.<p><strong>Estimated Surviving Population for the Die Variety:</strong> Rarity-2: 751 to 1,000 coins in all grades.<p><strong>Strike:</strong> Both sides are boldly to sharply struck from a well centered impression, the borders are uniformly denticulated around both sides. Only upon close inspection with a loupe will one discern minor softness and a microscopically rough texture on Libertys neck and within the lower wreath, the result of foreign matter adhering to the dies.<p><strong>Surfaces:</strong> This frosty and overall smooth-looking example is attractively toned in olive and light steel-brown. The reverse also displays intermingled golden-tan that represents the final fading of mint color. Free of detracting spots, marks and other blemishes, this is a simply outstanding Draped Bust cent irrespective of date or die pairing.<p><strong>Commentary: </strong>This is the finest Sheldon-152 cent in private hands (based on EAC grading standards), and it is tied for CC#1 for the 1798/7 <em>Guide Book</em> listing with the Newcomb-Helfenstein-Reale-Gardner specimen from the S-151 dies. The only other Mint State 1798/7 is the ANS specimen of S-152, which is tied for CC#1 from these dies in both the Bland and 2015 Noyes census listings. (There are no Mint State examples of the S-150 overdate in either census.) Noyes grades this coin MS-60 for sharpness, AU-50 Average, while Bland calls it AU-55. In his cataloging for the Goldbergs January 2016 sale of the Tom Reynolds Collection, Bob Grellman describes this coin as "AU55+, very close to mint state." Off the market for 50 years prior to that offering, and now appearing at auction for only the second time as part of the ESM Collection, this beautiful and highly significant coin is sure to see spirited bidding among advanced early copper enthusiasts and <em>Guide Book</em> variety collectors.PCGS# 35999. NGC ID: 2245.PCGS Population (all die marriages of the 1798/7 overdate): 1; 2 finer in all categories (MS-62 RB finest).<p>CAC Population: 1; 0.From the ESM Collection. Earlier ex Aubrey Bebee, December 1966; Tom Reynolds; Ira & Larry Goldbergs sale of the Tom Reynolds Collection of Large Cents, Part I, January 2016, lot 137.
