1839/6 Modified Matron Head Cent. N-1. Rarity-3. Plain Cords. Unc Details--Damage (PCGS). Boldly to sharply struck overall, this is a strictly Mint State example of a scarce and conditionally challenging overdate in the middle date large cent series. The satiny luster is full and lively, and the surfaces are attractively and originally toned with glints of olive-copper on medium brown patina. While appearing quite smooth in hand, close inspection reveals numerous tiny nicks and scrapes scattered over both sides that explain the PCGS qualifier. Noyes Die State C/A, a strong die crack bisects the obverse from the border between stars 3 and 4 to the opposite border outside star 11. This crack is actually three cracks which meander through and nearly join one another within Libertys portrait.<p>1839 was a transitional year, as four different head styles appeared on large cents as the Matron Head gave way to the Braided Hair design. To distinguish the four different intentional head styles, nicknames came into common use more than a century ago, producing the Head of 1838, Booby Head, Silly Head and Braided Hair types. As those portrait styles were deliberate, they may all be considered part of the transition. The Newcomb-1 overdate offered here was an inadvertent fifth head style. The obverse die was prepared earlier, intended to strike coins in 1836. The 1836 cents had a plain hair cord around Libertys hair bun, as here, a style that was abandoned in 1837 in favor of the beaded cord that is seen on the other 1839 cents. As such, this variety is distinctive for two reasons, the plain cord as well as the bold overdate.<p>The scarcity of this variety is no doubt due to the early demise of the obverse die. The prominent bisecting break evident on the present late die state example obviously forced the retirement of this obverse die after relatively few coins were struck, although the reverse die soldiered on and struck additional 1839-dated cents in the N-4 and N-9 pairings.<p>The 1839/6 N-1 is a formidable condition rarity and, in fact, there is only a single fully Mint State coin known - the PCGS MS-65+ BN that realized $376,000 in our Pogue V Sale of March 2017. The coin offered here is the only other 1839/6 N-1 cent extant described as Mint State, and it is CC#2 for the variety in both the Bland and Noyes census listings. Specifically, Bland grades this piece EAC MS60, net AU50, while Noyes says EAC AU55, net EF45. The former also ranks this piece as CC#1 for the late die state of the variety. A long, distinguished provenance enhances this coins desirability for those building an advanced large cent cabinet.<p> Ex New York Coin & Stamp Co.s sale of the Lorin G. Parmelee Collection, June 1890, lot 1106; S.H. & H. Chapman; S.H. & H. Chapmans sale of the John G. Mills Collection, April 1904, lot 1343; Henry Chapmans sale of the Judge W.A.P. Thompson Collection, May 1915, lot 1461; Henry C. Hines; Homer K. Downing, via Abe Kosoff, July 16, 1951; R.E. "Ted" Naftzger, Jr.; Ira & Larry Goldbergs sale of the R.E. "Ted" Naftzger, Jr. Collection, Part II, February 2009 Pre-Long Beach Auction, lot 439.
