DALLAS, TEXAS.- A 1788 New Jersey Copper, MS63 Brown sold for $192,000 to lead
Heritage Auctions' Estate of Mike Coltrane Collection of U.S. Coins Signature® Auction to $2,445,498 Nov. 2.
The event’s top lot is the finest known Maris 50-f and the only Mint State Head Left Copper.
“Mike Coltrane was a long-time student of numismatics, and a delightful person, a true gentleman of the highest ethics,” says Jim Halperin, Co-Founder of Heritage Auctions. “His father was a banker, and Mike’s interest in collecting coins and currency dates all the way back to his childhood.”
A 1793 C-3, B-3 Half Cent, MS64+ Brown, CAC drew 43 bids before selling for $180,000. Once a part of the Donald G. Patrick Collection, it is one of seven lots in the auction that reached six figures.
Achieving the same $180,000 result was a prime example of the Augustus Humbert United States Assay Office fifties that are icons of American coinage, a beautiful, octagonal 1852 Assay Office Fifty Dollar, AU55+, CAC. They originally were introduced in 1851, and various iterations of the octagonal design were manufactured through 1852.
A 1794 Half Cent, MS64 Red and Brown, CAC, the second- or third-finest known example, reached $168,000. The Breen-Hanson Condition Census, now nearly three decades old, includes 11 examples from this die pair that grade Uncirculated – just six of which have a recorded provenance that ends 60 or more years ago.
A 1797 C-1, B-1 Half Cent, MS65star Brown, CAC, arguably the finest surviving example from these dies and immediately identifiable by the misplaced “1” that is too close to the bust, drew a winning bid of $144,000.
One of the most memorable and important Colonials that once was a part of the collection of Eric P. Newman, a 1792 Washington President Cent, XF40, CAC closed at $132,000. Featuring the “T” below Washington’s shoulder, this is a singular piece that holds considerable historical significance. There are two major types of the Washington President cents distinguished by their reverses, featuring either the eagle and 13 stars that appear on this example or the General of the American Armies.
Also reaching $132,000 was a 1792 Washington President Cent, XF40, CAC.
Other top lots included, but were not limited to:
·A 1861-D Gold Dollar, AU50, Gold CAC: $90,000
·An 1853 Assay Office Twenty Dollar, MS61, CAC: $78,000
·An 1808 Close 5D Half Eagle, MS64+, CAC: $70,800
·A 1795 Small Eagle Five Dollar, AU55: $66,000
A 1792 Getz Pattern Cent, AU53: $50,400
1788 NJERSY New Jersey Copper, Head Left, M. 50-f, W-5475, R.3, MS63 Brown NGC. Ex: Garrett-Partrick Collection. 152.2 grains. This is the only Mint State Head Left copper known and it is remarkably well-preserved. The planchet exhibits obverse fissures, while there are virtually no post-strike marks. So immaculate are the fields that the Garrett cataloger described the piece as "Prooflike Uncirculated," a bold statement for any Confederation-era copper. The coloration is pleasing, with abundant mint red in the less exposed areas of the coin. Given how unusual, popular, and well-known the Head Left type is, the present coin is arguably one of the most important New Jersey coppers known.
The Head Left coppers have intrigued numismatists for generations. Montroville Dickeson listed them as a distinct type in his groundbreaking 1859 American Numismatical Manual and provided a lithographic illustration that resembles a Maris 49 obverse. Dickeson tended to see differences too readily, stating that there were five Head Left varieties. Sylvester Crosby corrected this in his 1875 Early Coins of America, reducing the number of obverses to three. In his classic 1881 A Historic Sketch of the Coins of New Jersey, Dr. Edward Maris agreed with Crosby, adding that the "plow is more complicated than any heretofore described, having two cross bars connecting the handles and a ring in the beam. The coulter after widening, is joined to the share, which is made out of a sword beaten into proper shape." Maris was apparently the first to notice that the hilt of a sword extends out from the top of the plow, indicating that the Biblical prophecy "they shall beat their swords into plowshares" had come to fruition.
The Maris f reverse, a "biennial die," is coupled with obverse dies of different years. The f reverse was first used on the Maris 49-f and 50-f Head Left types before being called into service for the Maris 48-f and finally the 37-f. Once again, the New Jersey series cautions us against believing everything we see: for while the 49-f and 50-f coins are dated 1788, die state evidence indicates that they were struck before the 1787-dated 48-f and 37-f. Crosby himself remarked upon this, writing: "a curious fact concerning this reverse is, that while it is found on coins of 1787, with a heavy break across the shield, we have seen none of 1788, on which that break is visible."
The present coin, then owned by Albany numismatist John G. Mills, was sold by the Chapman brothers with the rest of his collection in 1904. While the provenance chain published in the Garrett sale of 1980 states that John Work Garrett obtained it from the Col. James W. Ellsworth collection, that appears to be incorrect. The Mills sale was the first auction in which Robert Garrett, son of T. Harrison Garrett and brother of John Work Garrett, participated. While this coin is recorded as having been bought at the auction by the Chapmans themselves for $38, a handwritten note in their bidbook states, "Sold Garrett $45," indicating that it was sold directly to Robert Garrett after the sale and not to James Ellsworth. From Robert, the collection passed to his brother John Work Garrett, and thence to Johns Hopkins University, remaining there until the 1980 Bowers & Ruddy sale, where it was described as "one of the highlights of the Garrett Collection." It has since been a highlight of every collection it has graced, as it will continue to be moving forward. Listed on page 71 of the 2023 Guide Book. Original Partrick envelope and Bowers and Merena lot tag included.
