1787 New Jersey Copper. Maris 38-Y, W-5170. Rarity-3. Outlined Shield, Small Head. MS-64 (PCGS). 149.5 grains. 27.3 mm. Reverse aligned slightly counterclockwise of proper coin turn. One of the most exceptional surviving New Jersey coppers and a condition highlight of the Syd Martin Collection. In the words of Syds inventory, this piece shows "honest to gosh cartwheel luster," frosty and complete on both sides. The surfaces are medium brown and steel with hints of gold where the mint color was last to fade. The centering is close to ideal on both sides, though the obverse may be aligned just a bit to 6:00. Devices are extremely sharp, with the horsehead in magnificently full relief and the shield entirely delineated. The date is complete, though the bases of the first and last digits bleed over the rounded rim that is typical of the planchets for this variety. The area inside the rim at the right side of the reverse is a bit crude. Scattered tiny fissures are seen, as struck, mostly confined to the right side of obverse and reverse. Post striking marks are trivial, and a single thin hairline is noted from the base of AE to the top of the snout. Die State 3 of the reverse, as described in relation to this exact coin on p. 333 of the Siboni-Howes-Ish book, with a bold clash above the shield. The obverse is early Die State 2, with a short crack from the right side of the scroll beneath the horsehead. The visual appeal of this coin is bold and magnificent, enriched by some of the most impressive luster your cataloger can recall on a New Jersey copper.<p><p>PCGS started grading colonial coins in 1991 and since that time has awarded an MS-64 grade to a New Jersey copper on 10 occasions. Just four grading events are at higher levels, with one each at MS-65 BN, MS-65+ BN, MS-65+ RB, and MS-66 RB. Of the 2,567 New Jerseys theyve graded with numerical grades, 54 have been certified as Mint State. The 14 graded at this level or finer represent about 1/2 of 1% of the pieces graded. New Jerseys this nice are legitimately very, very rare - and this one is nicer than most.<p><p>This is the plate coin for the Maris 38-Y variety in the Siboni-Howes-Ish book and is listed atop the SHI Census. Another unverified Unc is mentioned, followed by an EF+, an EF, an EF-, and three VF+ coins. This is not a variety that is common in high grade. The E Pluribus Unum coin, graded AU-53+ (PCGS) and perfectly beautiful, was a new addition to the top half of the census. It brought $9,000. The Dittmer AU-58 (NGC), described as having "rose-red, lavender, and ocean-blue" toning, was not entirely original and brought $1,560 in May 2022.<p><p>As a type coin or the ultimate example of this variety, this is an incredibly desirable New Jersey copper. PCGS# 766248. From the Sydney F. Martin Collection. Earlier ex Lawrence R. Stack Collection, November 2006.
