1c BRAIDED HAIR 1839-1857
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||CENTS - CORONET, BRAIDED HAIR
||1C 1842 LARGE DATE N-3
||NGC MS 67 BN
||Electric Peak Collection
NGC graded MS 67 BN, EAC MS64
Variety: N-3, die state b, CC#2 (tie)
Ex: Chapman, Merkin
Aside from a minor spot of darker toning at star 12, this coin is virtually flawless. It is well struck throughout, and is nicely lustrous, with a lovely coppery glow behind the brown surfaces.
This coin, and an 1840 MS67BN were sold in January 2005 by Superior. I had a last minute back and forth bidding battle with someone as pre-sale online bidding ended. I was the high internet bidder on the 1840, but was the underbidder on this coin. After the live auction, I called for results and was told I "won" the 1840. Alas, it was not true. Both coins sold for a single bid increment over the internet pre-sale bids, and soon appeared for direct sale by Heritage. The 1840 sold quickly (for nearly double the Superior sale price!) and now appears in one of the higher ranked NGC Registry sets. I was able to purchase this coin for little more than it fetched in the Superior auction.
The Legend Numismatics web site is currently (12/4/09) advertising their Naftzger Collection coins. They have the Noyes CC#1 1842 N-3 in a PCGS MS66BN slab with CAC sticker for $15500 !!! Their description ends with the population info: "PCGS 2, NGC 2, CAC 1. Only NGC has graded an MS67." That MS67 is this coin! Its color and luster aren't quite as nice as that of the Naftzger coin, hence the CC rankings, but I think the other aspects of its surface quality are better. Even my wife ranked it as her favorite of all my late date large cents in early 2007. Since then, I have upgraded several of the late dates, and she now ranks this coin as #7 in that set.
From the Superior catalog:
1842 N-3 R3 NGC graded Mint State-67 Brown. Large Date.
Choice chocolate and lusterous steel brown with underlying very faded mint color peeking through on both sides. The surfaces are satiny and nearly flawless. The only defect is a small spot of golden toning (flake of planchet impurity) at the dentil tips under star 12, and in the center of this spot is a speck of dark olive toning. MDS, die state b. Outstanding eye appeal. EAC grade MS64 and tied for CC#2. This is the finest example certified, and the attribution is noted on the NGC label. (#1835)
Ex: S.H. Chapman 11/1907:1281-New Netherlands Coin Co. 6/67:1320-Lester Merkin 10/72:640-Stack's 3/86:865-Stack's 1/15/02:825-2002 ANA Sale (Superior) lot 289.