1793 S-1 R4 Chain AMERI. PCGS graded AU55Beautiful glossy brown and light chocolate with slightly darker steel brown toning on the highpoints. Smooth with satiny frost in protected areas and great eye appeal. The obverse is essentially flawless except for a small nick low on the neck and a very tiny tick left of the eyebrow; the only defect on the reverse is a minor planchet lamination at IT in UNITED down to the top of the N in ONE (as struck). Sharply struck with very light wear on the devices and nearly perfect centering. Rare M-LDS, Breen state V, with a die crack through the top of TATE. This is the Noyes plate coin for the die state in his 1991 reference on the cents of 1793 to 1814, his photo #26549. Graded EF40 and CC#9 overall in the Noyes census but finest of this rare die state outside of the ANS collection. Our grade is EF40. A premium example of our highly coveted first large cent, about as attractive as you will ever see for a 1793 Chain AMERI.Certificate Number: 35432.55/57538471Pedigree: Ex K. P. Austin-George Ramont-Fred H. Borcherdt Collection

1793 S-1 R4 Chain AMERI. PCGS VF Detail, Environmental DamageNicely detailed but covered with fine granularity under slightly glossy olive brown toning. The highpoints are a lighter shade of brown and are nearly smooth. No verdigris and the only marks are a few very tiny rim ticks over NI in UNITED. The date is not strong but it is complete and easily readable. The legends are complete and clear. Extremely rare Terminal Die State (TDS), Breen state VI, with a bold cud break connecting TAT to the rim. Only 6 examples of the die state are listed in the Noyes census, and only one of those grades above VG10; the VG10 resides in the ANS collection leaving this piece as the finest of the other 4. Noyes photo #25869. Our grade is F15 sharpness net VG8. A prize for the collector of significant early die states.Certificate Number: 35432.97/57538472Pedigree: From the Fred H. Borcherdt Collection

1793 S-2 R4+ Chain AMERICA PCGS graded MS63+Lustrous Light to medium brown with slightly darker steel brown toning on the highpoints. Lighter golden tan shows in protected areas on the reverse and satiny mint frost covers the fields and protected areas on both sides. Sharply struck and nearly flawless with great eye appeal. A small spot of lighter reddish brown planchet slag near the rim left of the L is the only notable defect. LDS, Breen state II, with dull die clashmarks on the obverse and a subtle wave through the base of the date and in the field behind the head. Graded MS62 and finest known of the variety as the only mint state example in the Noyes census, his photo #36457. Bland says AU55 and tied for CC#2 in his census, but a photo comparison with his #1 example clearly shows this is the sharper coin with superior color and surfaces. Unfortunately Del Bland, an undisputed luminary in the areas of early large cents and a good friend to this cataloger, is no longer available to take a second look. Our grade is MS60+. A premium cent is every respect; the undisputed highlight of this remarkable collection.Certificate Number: 35435.63+/57536981Pedigree: Discovered in England-John Dugan-Major Charles Cole (USAF, retired) 8/1969-Dr. Peter G. Anderson-Fred H. Borcherdt Collection

1793 S-3 R3- Chain America G5Slightly glossy olive brown and steel with lighter steel brown covering the devices on both sides. Uniform microscopic roughness covers both sides but there is no verdigris. The only mark is a shallow depression in the hair under BE. The date is weak but easily readable and the two-tone appearance accents the devices. Decent for the grade in spite of the imperfect surfaces, and many of the details suggest a slightly higher grade.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1793 S-4 R3 Chain with Periods, PCGS Fine Detail, CleanedSlightly sharper but recolored glossy reddish chocolate brown. Looks smooth but a glass reveals microscopic roughness covering the fields and protected areas. No verdigris, only a few trivial contact marks including a minor rim bruise right of the Y in LIBERTY. EDS, Breen state I, with the usual weak strike at the bottom of the obverse that is common in the early die state. The date is not strong but it is complete and easily readable. Everything else is complete and clear. Our grade is net VG10 sharpness net VG8.Certificate Number: 35444.92/52084647Pedigree: From the Fred H. Borcherdt Collection

1793 S-5 R4 Wreath Cent, Large LIBERTY AG3Glossy chocolate and steel brown with smooth surfaces but uneven wear thanks to a subtle bend in the planchet. Just minor contact marks including a small rim bruise at the first S in STATES and a dull rim nick at the bottom of the reverse. The date and LIBERTY are clear but the central part of the reverse is worn smooth due to the minor bend. EDS, Breen state I, before any rim crumbling at the top of the obverse.Certificate Number: Pedigree: Ex Denis W. Loring 9/1980-Fred H. Borcherdt Collection

1793 S-6 R3 Wreath Cent with Vine & Bars Edge, PCGS graded AU50Choice glossy light to medium brown with slightly darker steel brown on the highpoints of the devices. Smooth with great eye appeal and trivial marks including a very light and barely visible rim bruise at K-8 on the obverse and a small rim tick off the end of the bust. The planchet is choice except for a few tiny fissures (as struck), the only notable ones located in the field before the eye and just right of the date. Neither fissure catches your eye. The only mark on the reverse is a tiny fissure on the edge over the second T in STATES. Nicely struck E-MDS, Breen state II, with a subtle horizontal wave in the field behind the portrait, Crosby's "Sprung Die" variety. Noyes photo #29252. Our grade is VF30. A very nice mid-grade example of the variety.Certificate Number: 35450.50/57538473Pedigree: From the Fred H. Borcherdt Collection

1793 S-8 Wreath Cent F12+Glossy medium chocolate with lighter brown in protected areas, especially on the obverse. Looks smooth to the unaided eye but there is very fine roughness in the fields and protected areas. No verdigris and the only notable mark is a light scrape on the rim left of the lower curls. M-LDS, Breen state III early. The bisecting crack and wave on the reverse is clear. This cent has the eye appeal of a slightly higher grade.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1793 S-9 R2 Wreath Cent VG10Toned a very attractive glossy medium brown and light chocolate with no trace of roughness or verdigris. Unfortunately there are 3-4 obvious rim bumps on both sides, the strongest one off the lowest curls. The date and legends are strong, the details consistent with a VF20 grade. Nicely struck EDS, Breen state I, before any die cracks.Certificate Number: Pedigree: Ex Dean Johnson 6/1976-Fred H. Borcherdt Collection

1793 S-9 R2 Wreath Cent VG7Glossy light to medium brown with slightly darker steel brown toning on the devices. The date is complete and clear as are most of the devices, but there is a rough contact mark at AMER and a small but obvious dig just left of the date. Terminal die state, Breen IX, with severe die failure at RICA into the wreath.Certificate Number: Pedigree: Ex "DE" 6/1978-Fred H. Borcherdt Collection

1793 S-10 R4 Wreath Cent VG7+Glossy brown and light chocolate with some reddish chocolate in protected areas on the reverse. Smooth with minor marks, none notable. M-LDS, Breen state II, with die failure at the dentils before the nose and mouth and significant swelling in the center of the reverse. The date and LIBERTY are clear.Certificate Number: Pedigree: Ex 1982 EAC Sale, lot 201-Fred H. Borcherdt Collection

1793 S-11a R4+ Wreath Cent with Vine & Bars Edge G6Mostly glossy light chocolate brown but there is fine roughness in the fields and protected areas plus more-obvious pitting on the right half of the obverse. No verdigris and the only notable contact marks are a few small rim nicks at BER. EDS, Breen state I, before any die clashmarks. The date is clear as are most of the legends.Certificate Number: Pedigree: Ex Denis W. Loring 4/1981-Fred H. Borcherdt Collection

1793 S-11b R4 Wreath Cent with Lettered Edge, Double Leaf VG8Mostly glossy light chocolate brown blending to darker olive brown in protected areas. Looks smooth but there is very fine roughness in the fields and protected areas, especially on the reverse. No verdigris and the only marks are two small digs near the hair left of the eye. LDS, Breen state IV, with die polishing that removed clashmarks but also weakened the profile. The date and legends are easily readable, and the edge lettering is strong including the two leaves following DOLLAR.Certificate Number: Pedigree: Ex "SF" 1/1983-Fred H. Borcherdt Collection

1793 S-11c R3- Wreath Cent with Lettered Edge and Single Leaf, PCGS graded VF35Choice glossy light to medium brown with a very subtle hint of slightly darker brown toning woodgrained into the fields on the obverse. Smooth and nearly perfect with outstanding eye appeal for a moderately worn cent. The only defect is a light, barely visible rim bruise under the 9. MDS, Breen state III, with die clashmarks on both sides. Struck slightly off center to K-2. The edge lettering is strong with a single leaf following DOLLAR. Our grade is F15.Certificate Number: 35477.35/57538476Pedigree: From the Fred H. Borcherdt Collection

1793 S-13 R4- Liberty Cap PCGS graded VF30Glossy tan and light brown with chocolate brown on the highpoints. Smooth with a flawless planchet and just a couple trivial rim bruises at ED in UNITED. Sharply struck with crisp border beads all the way around both sides in spite of being struck very slightly off-center. MDS, Breen state II, with a subtle wave slanting through the T in CENT. Noyes photo #26752. Our grade is VF25. A very nice example of the 1793 Liberty Cap type, and it comes with a nice provenance as well.Certificate Number: 35489.30/57538474Pedigree: Ex Judge Joseph F. Sawicki, 1964 ANA Sale (Federal Brand Enterprises), 8/19/1964:41 (plated)-J. Kelly-Theodore Kryworuka (hereafter referred to as "Ted Kress," a more pronounceable version of the name assigned by Del Bland for provenance purposes)-George Ramont 1996-Fred H. Borcherdt Collection

1794 S-17a R5- Head and Edge of 1793 VG7Slightly glossy dark steel and olive brown with lighter brown on the highpoints. Nicely details but covered with fine to moderate roughness on all but the highpoints, which are smooth. No verdigris or notable marks other that a small scrape on the rim over the M in AMERICA. The date is bold, the legends are clear, and the edge lettering is bold. E-MDS, Breen state II, Heck state 1, with a faint bulge from the L to the head. Struck slightly off center to K-4.5. Graded VG7 by Del Bland. Noyes says VG8 net G6 and tied for CC#21, his photo #62601. In our opinion the sharpness of this cent is far superior to the Noyes assessment of VG8; it would rate a grade of VF20 or better if the surfaces were smooth. Comes with a nice provenance.Certificate Number: Pedigree: Ex Dr. William H. Sheldon-C. Douglas Smith-R. A. Brown 5/23/1958-Darwin B. Palmer, Jr. 12/8/1972-Dr. Robert J. Shalowitz-Ellen Enzler 12/1987-Darwin B. Palmer, Jr.-Joel Spingarn-Chris Taylor-Walter H. Reed-Fred H. Borcherdt Collection

1794 S-18a R6 Head and Edge of 1793 Basal State-1Slightly glossy mix of medium brown and chocolate with darker steel and olive brown in protected areas. The highpoints are mostly smooth but the fields and protected areas are uneven and there traces of shallow dark crust in a few protected areas. A shallow planchet fissure from the top of the cap to the rim before the face is the only notable mark. The date is faint but can be made out with some effort, the portrait is reasonably complete, and about 25% of the reverse devices are still visible. Overall rather decent for a Basal State cent. The edge lettering is complete and clear, and the downturned leaf following DOLLAR is strong.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-18b R4 Head of 1793, Edge of 1794 VF30A sharp, smooth cent with nice eye appeal and a superior provenance, but it was lightly burnished and retoned. Glossy dark chocolate brown and steel with some slightly lighter brown on both sides. Just a couple trivial marks including a tiny chip in the field off the chin and a barely visible rim bruise below the 9. LDS, Breen state V, Heck state 4, with strong swelling under ED. The H & D in HUNDRED are filled with yellow ink to signify ownership by Homer Downing. Graded EF40 and tied for CC#11 in the Bland census. Noyes says AU50 net VF30 and tied for CC#11, his photo #85122. A sharp, important cent that might deserve a better retoning.Certificate Number: Pedigree: Ex Captain Andrew C. Zabriskie, H. Chapman 6/3/1909:734-J. W. Scott & Co., Ltd.-Henry C. Miller, Thomas L. Elder 4/13/1917:655-Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:19 (as AU)-Dr. William H. Sheldon-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1636 (as MS60)-Harold Bareford 9/13/1985-Herman Halpern, Stack's 3/1987:107 (as AU50)-Taichert, Stack's 5/9/2001:8 (as XF45)-Chris McCawley-McCawley & Grellman Auctions/Superior 2002 ANA Sale, lot 218-American Numismatic Rarities/Stack's 6/2004:2149-Fred H. Borcherdt Collection

1794 S-19a R5+ Head and Edge of 1793 G4Slightly glossy dark olive brown and steel. Considerably sharper than the assigned grade, especially on the reverse thanks to the high, protective rim on that side, but the planchet is covered with moderate roughness. No marks or verdigris. The date is weak but readable and this cent has very little actual wear. EDS, Breen state I, Heck 1. Graded VG7 net AG3 and tied for CC#24 in the Noyes census, his photo #26059. The H & D in HUNDRED are filled with yellow ink to signify ownership by Homer Downing.Certificate Number: Pedigree: Ex Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1633 (as G4)-Denis W. Loring 4/1979-Fred H. Borcherdt Collection

1794 S-19b R4 Head of 1793, Edge of 1794, PCGS graded XF45Glossy tan and steel brown with frost in the fields and protected areas. Lightly worn with smooth surfaces and very nice eye appeal. Just a few trivial marks including a tiny nick in the hair left of the eyebrow and a tiny, barely visible rim bruise at K-8 on the obverse. The reverse is sharper than the obverse, as always on this variety thanks to the high protective rim on that side. What may appear as small rim nicks on the reverse is an illusion caused by the heavily impressed edge letters. MDS, Breen state II, Heck 2, with an obvious bulge in the field under the cap. Graded VF25 and tied for CC#7 in the Bland census. Noyes says VF35 net VF25 and tied for CC#6 (no idea why the deduction), his photo #33041. Our grade is VF25+. Previously housed in an NGC holder graded XF40 (NGC label #508554-001 included, and it shows the attribution and Rasmussen provenance).Certificate Number: 35519.45/57538475Pedigree: Ex Freeman Smith 11/9/1956-John A. Schreuder 4/1970-Del N. Bland 12/1979-Myles Z. Gerson-Bertram Cohen-George E. Ewing, Jr., 1996 EAC Sale, lot 95 (as VF25+)-Wesley A. Rasmussen, Heritage Auctions 1/13/2005:3025 (as NGC XF40)-Fred H. Borcherdt Collection

1794 S-21 R3 Head of 1794 PCGS graded MS62+ BrownChoice frosty light reddish brown with steel brown toning on the highest points of the devices. The surfaces are smooth and satiny with virtually flawless surfaces; just a light touch of friction on the highest points from mint state. A tiny, very light rim nick over the right side of the L in LIBERTY is the best identifying mark, and it is barely visible. MDS, Breen state III, Heck state 3, with a fine die crack from the B to the cap and fine die clashmarks on both sides. Our grade is AU50+, very close to AU55, and it comes with a superb provenance.Certificate Number: 35528.62+/57538477Pedigree: Ex Dr. Edward Maris-Edouard Frossard Collection, Frossard 10/2/1884:853 (as UNC)-T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28//1979:57 (as AU55)-Anthony J. Terranova, Superior 2/1991:662-Dr. Eugene Sherman-Anthony J. Terranova 4/1993-Dr. Thomas Turissini 4/19/1997-Walter J. Husak-Fred H. Borcherdt Collection

1794 S-22 R1 Head of 1794 PCGS graded MS61 BrownFrosty medium reddish brown. The fields and protected areas are lustrous and there is just a light touch of friction on the highest points of the hair. The only defects are a pair of small planchet flakes on the tip of the bust, another tiny one left of the O in OF, and a very light scuff along the tops of BER. A small spot of darker toning (not carbon) under the upright of the L in LIBERTY is a good identifying mark. MDS, Breen state V, with "mounds" forming at the top of the wreath and in the leaves below TE in UNITED. These "mounds" are not strong but the die clashmarks at the C in CENT are quite bold. Graded AU50 and tied for CC#4 in the Bland census. Noyes photo #62744. Our grade is AU50. Comes with a century-old provenance.Certificate Number: 901374.61/25545344Pedigree: Discovered in Europe-Thomas L. Elder 2/2021:1911 ($20)-unknown-1974 ANA Sale (Paramount International Coin Corp.) lot 308 ($700)-Chuck Furjanic-Bowers & Ruddy FPL 1975-American Auction Association 12/1975:271-Bowers & Ruddy 10/1976:1487-unknown-Bowers & Merena 3/1984:613 ($3300)-Gene Sanders (Coinko)-unknown-Superior 5/1991:23 ($5500)-Dr. Thomas Turissini-Eric J. Streiner 4/24/1993-Thomas D. Reynolds 10/6/1997-Dr. John D. Wilson, Heritage Auctions 6/2005:5075-unknown-2011 ANA Sale (Stack's Bowers), lot 7223-unknown-Stack's Bowers 11/2015:20006-Fred H. Borcherdt Collection

1794 S-22 R1 Head of 1794 F12Glossy brown and light chocolate with frosty lighter brown in protected areas. Smooth with very nice eye appeal and no notable contact marks; just a few small planchet flakes above NE in ONE. EDS, Breen state I, Heck 1, with no cracks or clashmarks. Struck about 10% off center to K-10.5. A strong indent from the collar post (a pin that held the collar in place) shows on the unstruck portion of the planchet. Off-center strikes that show a collar post indent are extremely rare, and this is a really nice one. Graded F15 net F12 by Noyes, his photo #28952.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-23 R4+ Head of 1794 F12Lightly cleaned, now retoned a glossy mix of dark steel brown and chocolate with some lighter brown. The surfaces are smooth and void of marks except for a few small planchet flakes: one at NI, another at the second S in STATES, and one at OF (all as struck). MDS, Breen state III, Heck 3, with a die crack from off the end of the pole to the throat.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-24 R1 Head of 1794 PCGS graded AU58Frosty tan and light steel brown with slightly darker steel brown toning on the highpoints. A small tick under the left corner of the eye and a thin nick along the bottom of the chin are the only notable marks. Mint luster shows in the fields and protected areas and this cent has superb eye appeal for the grade. MDS, Breen state IV, Heck state 6, with very fine rust evident in the field around the date and on the lower part of the neck, plus a radial die crack right of the date and another through the L to the head. Struck slightly off center to K-5 affecting only the dentils. Noyes photo #25817. Our grade is EF45.Certificate Number: 35537.58/57538478Pedigree: Ex A. E. Parker 4/21/1956-John Schreuder-Del N. Bland-Fred H. Borcherdt Collection (includes the Schreuder/Bland collection envelope)

1794 S-25 R3 Head of 1794 PCGS graded AU50Nicely detailed but there are some small marks on otherwise smooth surfaces. Most of the tiny marks are planchet chips but there are a few trivial contact marks including a couple light ones on the bust, very tiny ones at TES, and a small carbon spot hidden in the leaves under the T in CENT. Glossy steel brown and chocolate with frosty lighter brown in protected areas. MDS, Breen state III, Heck 2, with die clashmarks on both sides. Called VF25 and tied for CC#9 in the Bland census. Noyes says VF30 net VF25 and tied for CC#7, his photo #26384. Our grade is VF25. Comes with a nice provenance.Certificate Number: 35540.50/57538479Pedigree: Ex Edouard Frossard Collection, Frossard 10/2/1884:87--T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28/1979:60-Tom Morley-Ed Kucia-George E. Ewing, Jr.-Fred H. Borcherdt Collection (includes the Morley collection envelope)

1794 S-26 R2 Head of 1794 PCGS graded AU55A sharp cent with smooth surfaces and very nice eye appeal, but the raised area around CE has been lightly rubbed leaving slightly lighter toning in that area. Otherwise the toning is an attractive glossy light olive brown and chocolate with lighter reddish steel brown at CE. Sharply detailed with light wear on the devices and no notable marks. LDS, Breen state VIII, Heck state 8, with a very bold radial die crack through the first S in STATES to CE, and the area at CE is raised. Noyes graded EF45 net VF35 and tied for CC#14, his photo #26338. Our grade is EF40.Certificate Number: 35543.55/57538480Pedigree: From the Fred H. Borcherdt Collection

1794 S-27 R5 Head of 1794 VG8Mostly glossy dark steel and olive brown with lighter chocolate and steel brown on the highpoints. The obverse was lightly burnished creating a higher than normal gloss on that side, and there are traces of fine roughness and shallow verdigris on the reverse. The notable marks are some small ticks above and below the earlobe and a rim nick at the first A in AMERICA. MDS, Breen state II late, Heck state 2, with a clearly defined wave from the rim to the hair under the cap and a very subtle wave in the field from the chin to the right. The date is bold and the legends are clear.Certificate Number: Pedigree: Ex University of Pennsylvania-Catherine E. Bullowa (Coinhunter)-Walter Breen-Frank H. Masters, Jr., Rare Coin Company of America 5/14/1971:53 (as F12)-Denis W. Loring 4/1979-Fred H. Borcherdt Collection

1794 S-28 R2 Head of 1794 PCGS graded AU58Choice frosty light brown with darker steel brown toning on some of the highpoints, mostly on the cheek. Satiny mint luster shows in the fields and protected areas and this cent has great eye appeal. The only mark is a tiny tick high above the N in ONE. Nicely struck MDS, Breen state VI, Heck 5, with faint die cracks on the obverse. Graded EF45 by Noyes, his photo #29008. Our grade is EF45. A choice, very attractive cent.Certificate Number: 35549.58/57538481Pedigree: From the Fred H. Borcherdt Collection

1794 S-29 R2 Head of 1794 PCGS graded AU58Frosty medium brown and light chocolate with slightly darker steel brown on the highpoints. Lightly worn and choice except for some microscopic hairlines on the obverse and a barely visible speck of carbon on the neck. Otherwise quite nice and the eye appeal is outstanding. EDS, Breen state I, Heck state 3, before any trace of a die crack at the R in AMERICA. The fields on the reverse are smooth and slightly reflective thanks to the new die used for this variety. Graded EF40 by Bland. Noyes says 45 net 35, his photo #39040. Our grade is EF40. Comes with a an old, complicated provenance.Certificate Number: 35552.58/57538482Pedigree: Ex Robert Colton Davis, New York Coin & Stamp Co. 1/20/1890:2525-Charles Steigerwalt-unknown (possibly Henry C. Hines)-Dr. William H. Sheldon-ANS -transferred to R. E. "Ted" Naftzger, Jr. 1/26/2001 per the agreement to unwind the unauthorized transfer of the Clapp/ANS cent to the Sheldon Collection (via William C. Noyes)-Fred H. Borcherdt Collection

1794 S-29 R2 Head of 1794 VF30Choice glossy light to medium brown with frost in some of the protected areas. Smooth and very attractive with just a few trivial marks including a thin nick left of the lower curls, a very light rim bruise left of the L, and some planchet chips on the unstruck portion of the planchet outside UNITED. MDS, Breen state II late, Heck 2, with a light die crack from the rim to the center of the R in AMERICA. Struck about 5% off center to K-3.5. Graded VF25 and tied for CC#22 in the Noyes census, his photo #28949.Certificate Number: Pedigree: Ex Stack's (privately)-Fred H. Borcherdt Collection (includes the Stack's sales envelope)

1794 S-30 R1 Head of 1794 PCGS graded MS62+ BrownChoice lustrous light brown with slightly darker steel brown toning on the highest points of the devices. The reverse looks mint state and is free of rub or wear thanks to the relatively high rim on that side, but the highest points of the hair do show light friction. No spots or stains, and the only contact mark is a very light nick high on the neck. The fields are satiny and this cent has superb eye appeal. M-LDS, Breen state II, Heck state 4, with fine die cracks and die clashmarks on both sides. Graded AU55 and tied for CC#5 in the Bland census. Noyes says AU50 and tied for CC#5, his photo #26539. Our grade is AU55. The obverse of this cent is plated in the 1979 grading reference by Tom Morley to illustrate the AU55 grade for the variety (page 11). A choice, very attractive cent that comes with a nice provenance.Certificate Number: 35555.62+/57538483Pedigree: Ex Charles M. Williams, Numismatic Gallery 11/14/1950:31-Numismatic Gallery 10/12/1951-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:353-Charles E. Harrison-Myles Z. Gerson-Del N. Bland-George E. Ewing, Jr.-Fred H. Borcherdt Collection

1794 S-31 R1 Head of 1794 PCGS graded MS62 BrownGlossy light olive with frost in the fields and protected areas. A very attractive cent, essentially flawless with very light wear on the devices. A microscopic tick right of the earlobe is the only notable mark, and it is microscopic. MDS, Breen state II, Heck state 2 late. Both of the die "chips" in the field under the cap are clear and there is clear evidence of die failure under MER. Noyes graded EF40, his photo #60015. Our grade is EF45.Certificate Number: 35558.62/57538484Pedigree: Ex Douglas F. Bird-Fred H. Borcherdt Collection

1794 S-32 R2 Head of 1794 VF35+Frosty light to medium steel brown with a few small peeps of lighter brown and tan in protected areas. Lightly worn on the highpoints with just a few small nicks on the neck and the usual planchet chips in the field before the portrait and the opposing area at OF-AM. The rest of the planchet is smooth. This variety was struck from dies that were not in proper axial alignment (the die faces were not parallel). Even the finest known examples of the variety show planchet chips to some degree in those areas. Why the coiners failed to correct the problem during the production run will remain a mystery. LDS, Breen state V, with a cud break over LI, bold radial die crack through the first S in STATES, and strong die clashmarks on the reverse. Graded VF35 and tied for CC#9 honors in both the Bland and Noyes census lists, Noyes photo #36290. Removed from a PCGS holder graded XF45 (PCGS label #35561.45/81232291 included, and it shows the attribution and Schuman-Robinson-Boka provenance). Comes with a very nice provenance.Certificate Number: Pedigree: Discovered in England-Frederick G. "Fritz" Weber-C. Douglas Smith-Del Bland 11/1973-Dr. Robert A. Schuman 3/1976-Denis W. Loring 5/7/1983-Jack H. Robinson, Superior 1/29/1989:53-Daniel W. Holmes, Jr.-Jon A. "Al" Boka, Heritage Auctions 9/8/2011:531-Fred H. Borcherdt Collection

1794 S-33 R6 Head of 1794, "Wheelspoke" Variety VG8A sharp cent with reasonably smooth highpoints, but the fields and protected areas are covered with fine to moderate roughness. No verdigris and the only notable contact mark is a very tiny rim nick under the fraction. Slightly glossy medium olive brown with lighter brown toning on the devices. The date and legends are complete and easily readable, even ONE CENT (which usually is partial or missing due to swelling in the center of the reverse). LDS, Breen state V, Heck 5, with 6 "Wheelspoke" cracks on the reverse. Graded VF20 net VG7 and tied for CC#7 in the Noyes census, his photo #26538. Not perfect but still a great example of this tough and very popular die variety.Certificate Number: Pedigree: Acquired from an unrecorded source by Fred H. Borcherdt in 3/1984

1794 S-34 R5+ Head of 1794 VF25Partly glossy dark olive brown and steel. A sharp cent with very light wear on the devices, but the planchet is covered with fine granularity. No verdigris or marks except for a microscopic chip near the rim before the mouth. M-LDS, Breen state III late, Heck state 4, with a raised retained cud break at the top of the cap in addition to the earlier rim cud at the L. Graded VF35 net VF25 and CC#3 in the Bland census. Noyes says VF30 net VF20 and CC#4, his photo #26429. A great cent in spite of the imperfect surfaces, and it comes with a nice provenance.Certificate Number: Pedigree: Ex Coins & Currency 4/1969:1759-Catherine E. Bullowa (Coinhunter)-Abner Kreisberg Corp.-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:356-John W. Adams 6/1975-Denis W. Loring 5/7/1983-Jack H. Robinson-Del Bland 3/5/1985-Fred H. Borcherdt Collection (includes the Naftzger collection envelope and New Netherlands lot ticket)

1794 S-35 R5 Head of 1794 VG8+Glossy light olive and brown blending to chocolate in protected areas. Smooth and very nice for the grade with trivial marks and great eye appeal. The only notable marks are a dull rim nick off the chin and a light rim bruise at the O in OF. MDS, Breen state V, Heck 4, with a strong die crack from the head to ER that raised the R so it wore more quickly. Noyes graded F12 net VG10 and tied for CC#13, his photo #26212. An attractive lower grade example of this tough die variety.Certificate Number: 35570.97/57538512Pedigree: Ex Hance Jaquett 2/1979-Fred H. Borcherdt-Denis W. Loring 12/1981-Fred H. Borcherdt Collection (includes the Loring collection envelope)

1794 S-36 R5 Head of 1794 PCGS graded AU55Very attractive glossy medium brown and light olive. The surfaces are perfectly smooth and traces of mint frost show in protected areas on the reverse. Just a few unobtrusive marks including a nick on the end of the chin and two very light rim bruises on the reverse: one right of the F in OF and another at ME in AMERICA. None of these marks is significant and the eye appeal of this cent is superb. M-LDS, Breen state II, Heck state 1. Our grade is VF30+, close to VF35. A great example of this rare die variety.Certificate Number: 35573.55/57538485Pedigree: Discovered in England-Tom Hart-Fred H. Borcherdt Collection

1794 S-38 R5 Head of 1794 PCGS graded XF40A nicely detailed cent with smooth surfaces and excellent eye appeal, but there are some marks. The notable ones are several small nicks on the face into the hair and cap, a collection of small digs below CE in CENT, and some marks or planchet voids on the edge at the bust tip and opposing edge over the O in OF. The edge marks are called "a tiny planchet clip" by Bland, and that may be correct, but they are a distraction nonetheless. Not a hint of roughness, and the color is a very attractive glossy chocolate brown and steel with lighter brown in protected areas, especially on the reverse. LDS, Breen state II, Heck 2. Both of the "chips" in the field below the cap are strong. Graded VF20 and tied for CC#6 in the Bland census. Noyes says VF30 net VF20 and tied for CC#5, his photo #26434. Our grade is net VF20. The reverse is plated in the Elder-Gilbert reference, the obverse is plated in the 1991 Noyes reference, and the obverse is plated to represent the VF20 grade on page 17 in the 1979 Tom Morley reference on grading 1794 cents. In addition the "H" and "D" in HUNDRED are filled with yellow ink to document ownership by Homer Downing. An important cent in spite of the marks, and it comes with a very nice provenance.Certificate Number: 35579.40/57538486Pedigree: Ex Ebenezer Gilbert, Thomas L. Elder 10/12/1910:41-Henry Olson Granberg, William H. Woodin (The United States Coin Co.) 5/19/1915:126-Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1684 (as XF40)-Harold Bareford 9/13/1985-Herman Halpern, Stack's 3/16/1988:50 (as VF25)-Fred H. Borcherdt Collection

1794 S-39 R6 Head of 1794 G6Glossy chocolate brown and steel. Smooth with trivial marks, just worn. A light nick on the 9 and a tiny pinprick at the leaf tip right of the E in ONE are the only notable defects. EDS, Breen state I, Heck 1, with an uncracked reverse. Graded G6 and tied for CC#13 in the Noyes census, his photo #26141.Certificate Number: Pedigree: Ex R. S. "Robbie" Brown, Jr.-Denis W. Loring 8/1978-Fred H. Borcherdt Collection

1794 S-39 R6 Head of 1794 PCGS graded F12Glossy medium olive brown and steel. The surfaces are smooth except for a few minor planchet chips on both sides, and there are only a few contact marks. The notable marks are a sharp vertical nick between the B & E in LIBERTY and a thin diagonal nick on the jaw above the throat. Possibly unique terminal die state, Breen state III late, with a very strong die crack arcing from the rim under the 1 in the denominator to the rim between the I & T in UNITED. The section of die outlined by the crack has started to shift outward, and the dentils between the U and fraction are clearly shorter as a result. In addition the dies have become out of proper axial alignment (the die faces are no longer parallel) causing the bottom of the obverse and opposing top of the reverse to be weakly struck while everything else is normal. As a result the details on the upper half of the obverse and lower half of the reverse are significantly better than the overall grade. This piece is plated in the Noyes reference to illustrate the terminal die state. Graded VG10 net VG7 and tied for CC#10 for the variety in the Noyes census, his photo #27862. Bland says VG7 as well and tied for CC#11. Our grade is VG8. This is the finest of the die state in both census lists, and to the best of our knowledge this is the only example known with this very strong die crack. A wonderful cent for the collector of die states. And it comes with a nice provenance. The attribution and Trollan Collection provenance are noted on the PCGS label.Certificate Number: 35582.12/36048764Pedigree: Ex Hollinbeck Kagin Coin Co., 10/11/1966-Herbert A. Silberman 11/1977-Chuck Furjanic-William R. T. Smith 12/18/1977-Dr. Thomas S. Chalkley, Superior 1/28/1990:197-J. R. Frankenfield, McCawley & Grellman Auctions/Superior 2/17/2001:235-W. M. "Jack" Wadlington-Chris McCawley 4/2004-Dan Trollan Collection, Goldbergs 1/27/2019:143-Fred H. Borcherdt Collection

1794 S-40 R5+ Head of 1794 PCGS graded AU50A nicely detailed cent with smooth surfaces and excellent eye appeal, but there is a dull scratch hidden in the ends of the top four hair curls and a minor rim bruise left of the lowest curls. Otherwise just trivial marks under glossy chocolate and light olive brown toning. This cent was struck twice and there is clear evidence of the first strike on both sides. The cap from the initial impression shows in the field off the chin and the outline of the top of the head is visible from the bottom of the neck to the truncation above the 9. Evidence of the first strike is visible on the right side of the wreath, especially in the leaves under the f, under the T in CENT, and below RICA. The second strike was rotated about 180 degrees CCW relative to the first. E-MDS, Breen state II, Heck 3, before any die cracks. The diagonal die line through the left side of the C in CENT is clear. A very nice cent in spite of the few marks, and the double strike is a bonus. Called VF25 and CC#7 in the Bland census. Noyes says VF25 net F15 and tied for CC#7. Our grade is VF25 net F15+, close to VF20. Comes with an impressive provenance that includes some experts who apparently did not notice the double strike. But Fred did.Certificate Number: 35585.50/57538487Pedigree: Ex Henry C. Miller, Thomas L. Elder 4/13/1917:691-Henry C. Hines-Carl Wurtzbach, Barney Bluestone 2/28/1948:433-Willard C. Blaisdell 2/1975-Denis W. Loring 9/1982-Del N. Bland 3/5/1985-Fred H. Borcherdt Collection

1794 S-41 R3 Head of 1794 VF30Choice glossy medium brown. Smooth with light wear, minor marks, and great eye appeal. A thin nick hidden in the hair bellow the E and a couple more on the cheek are the only contact marks. M-LDS, Breen state VI, Heck state 7, with die cracks on the reverse. Graded VF30 and tied for CC#6 in the Bland census. Noyes says VF35 net VF25 and tied for CC#9, his photo #33128.Certificate Number: Pedigree: Ex Dr. George W. Massamore 3/1883:538-T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28/1979:64-Tom Morley-Ed Kucia-George E. Ewing, Jr.-Fred H. Borcherdt Collection (includes the Ewing collection envelope)

1794 S-42 R4 Head of 1794 F15+Glossy olive brown and chocolate with lighter steel brown toning on the highpoints. A sharp, attractive cent, but there are three defects that detract from an otherwise very nice piece. Those defects are an obvious scratch on the lower part of the neck, another less obvious one in the field at the throat, and a small patch of corrosion at CA in AMERICA. LDS, Breen state II, Heck state 3, with die clashmarks. Graded VF30 net F15 and tied for CC#15 in the Noyes census, his photo #26063.Certificate Number: Pedigree: Ex Denis W. Loring 4/1979-Fred H. Borcherdt Collection

1794 S-43 R2 Head of 1794 VF20Glossy light brown blending to medium brown in protected areas. The details are sharper but there are too many small nicks on the obverse for the higher grade. A light rim bruise at the end of the pole is a good identifying mark. EDS, Breen state I, Heck 1, with uncracked dies. A rare die state in our opinion. Struck with the reverse rotated 30 degrees clockwise relative to the normal head-to-foot die orientation.Certificate Number: Pedigree: Ex Denis W. Loring 1978-Fred H. Borcherdt Collection

1794 S-43 R2 Head of 1794 PCGS graded MS62 BrownChoice frosty light to medium brown. Very sharp and about as close to flawless as you will find on a 1794 cent. Just a hint of light friction on the highest points of the devices and virtually void of marks. The only "defects" are a few microscopic planchet chips in the field at ERTY and before the face and a thin, light nick on the throat. None of these imperfections are visible to the unaided eye. Sharply struck E-MDS, Breen state II, Heck state 2, with a couple very fine die cracks on the obverse and a very fine crack from the dentils to the bottom of the U in UNITED. In addition there is a fine but incomplete double profile from the forelock to the chin, a rather common feature on this variety. A truly choice cent; our grade is EF45+, close to AU50.Certificate Number: 35594.62/57538488Pedigree: Ex Arthur Sargent, S. H. Chapman 6/20/1913:435-Hillyer Ryder 5/1945-Wayte Raymond (privately)-Dr. William H. Sheldon-ANS 1/26/2001 (unwinding of the unauthorized switch made by Dr. Sheldon)-R. E. "Ted" Naftzger, Jr. (via William C. Noyes)-Fred H. Borcherdt Collection

1794 S-43 R2 Head of 1794 F12Glossy light brown with darker steel brown toning on the highpoints. Smooth and attractive but there are a few marks including a few faint hairline scratches in the field before the portrait and a few more on the reverse. A shallow planchet void or chip under the N in ONE is a good identifying mark. Latest die state, Breen V late, Heck state 8, with die cracks on both sides and obvious die failure on the reverse.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-44 R1 Head of 1794 VF25Glossy light olive and steel brown with reddish brown toning in some of the protected areas. The surfaces are smooth except for a small patch of roughness at the dentils and rim over the second S in STATES. Otherwise just a few contact marks including a small dig on the rim over the C in AMERICA. LDS, Breen state V early, Heck state 6, with die cracks on both sides and swelling in the field below the cap.Certificate Number: Pedigree: Ex Tom Morley 4/1980-Fred H. Borcherdt Collection

1794 S-45 R5+ Head of 1794 PCGS graded AU53Very attractive glossy chocolate brown and steel with lighter brown in protected areas. Sharp and smooth with just a few contact marks. The notable ones are a dull nick close below the L in LIBERTY, a small tick at the bottom edge of the jaw, and a thin rim nick right of the F in OF. Only the nick under the L catches your eye. M-LDS, Breen state II, Heck 2, with a die crack through IC to the leaf below that C. Graded VF25 and CC#6 in the Bland census. Noyes says VF25 and CC#4, his photo #26486. Our grade is VF25. A beautiful example of this tough die variety, and it comes with a very nice provenance.Certificate Number: 35600.53/57538489Pedigree: Ex Thomas L. Elder 12/10/1913:655-Dr. George P. French, B. Max Mehl 1929 FPL, lot 74-T. James Clarke 1944-B. Max Mehl 4/26/1949:2315-Willard C. Blaisdell 2/17/1975-Del N. Bland 3/5/1977-Denis W. Loring 5/7/1983-Jack H. Robinson, Superior 1/29/1989:77-Douglas F. Bird-Fred H. Borcherdt Collection

1794 S-46 R3 Head of 1794 PCGS graded MS62 BrownGlossy chocolate brown with lighter brown in the fields and protected areas and darker steel brown on the highpoints. Smooth and very attractive, just a few marks from choice. A small nick in the field off the end of the nose and a planchet flake on the second A in AMERICA (as struck), are the only notable defects. E-MDS, Breen state II early, Heck state 1, with a die crack up through the bust, neck, and hair to the base of the B. There is no crack along the truncation. Graded EF45 and tied for CC#6 in the Bland census. Noyes says EF45 net EF40 and tied for CC#5, his photo #31976. Our grade is EF40+, close to EF45. A very nice cent and it comes with a equally nice provenance.Certificate Number: 35603.62/57538490Pedigree: Ex George L. Davis, Stack's 4/1954:1580-Dorothy I. Paschal-Dr. Edward R. Bush-Myles Z. Gerson-George E. Ewing, Jr.-Fred H. Borcherdt Collection

1794 S-46 R3 Head of 1794 VF20Glossy steel brown and olive with slightly darker steel brown on the highpoints and traces of lighter brown in protected areas. Smooth and attractive with the details of a slightly higher grade, but there is a planchet lamination at RICA (as struck but still a distraction). The only other notable mark is a dull rim nick left of the bottom of the cap. LDS, Breen state V, Heck state 4, with strong die cracks on the obverse and a small internal cud break at the top of the 4. A neat die state. Graded VF25 net VF20 and tied for CC#20 in the Noyes census, his photo #39291. A relatively modest cent but it comes with a nice provenance.Certificate Number: Pedigree: Ex Henry O. Grandberg-Henry C. Hines-Dr. William H. Sheldon-Dorothy I. Paschal-Eugene Exman-C. Douglas Smith, 1982 ANA Sale, lot 46-Richard V. Punchard-Fred H. Borcherdt Collection

1794 S-47 R4 Head of 1794 VF25Attractive glossy medium steel brown with frosty lighter brown in protected areas. Smooth with minor marks and light, even wear. Just a few small marks including a dull rim nick at the I in LIBERTY, a small pinprick left of the 7, and a small dent at the left foot of the first T in STATES. MDS, Breen state II, Heck state 3, with a clear radial die crack along the left edge of the first A in AMERICA. Graded VF30 net VF20 and tied for CC#5 honors in the Noyes census, his photo #38653. A variety that is quite difficult to find in higher grades; only the ANS example grades better than VF by EAC grading standards.Certificate Number: Pedigree: Ex Thomas D. Reynolds 1998-Robert C. Clark, 2000 ANA Sale (Bowers & Merena), lot 234-Fred H. Borcherdt Collection

1794 S-48 Starred Reverse PCGS Good Detail, Environmental DamageA couple points sharper, particularly on the obverse, but covered with fine to moderate roughness on all but the highpoints, which are smooth. No verdigris or notable marks, and the toning is an attractive, mostly glossy light to medium chocolate brown and steel. The date is weak but easily readable and at least half the tiny stars are visible in the dentils (all from K-5 to K-11.5, a result of the uneven strike always seen on this variety). Graded G5 net AG3 by Noyes, his photo #25811. Our grade is net AG3. One of the most difficult "Redbook" varieties to find in any grade, and the significant number of clearly visible stars on this one is a plus.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-49 R2 Head of 1794 VF35+Choice glossy chocolate brown. Sharply struck with light wear on the devices and great eye appeal. The only notable mark is a dull nick on the edge at the D in UNITED, but this mark does not affect the dentils on either side. Otherwise just a few tiny ticks high on the cheekbone. EDS, Breen state I, Heck state 2, with an uncracked obverse. Graded VF35 Choice and tied for CC#5 in the Noyes census, his photo #25776.Certificate Number: Pedigree: Acquired from an unrecorded source by Fred H. Borcherdt in 12/1982

1794 S-49 R2 Head of 1794 VF30Glossy medium brown and light chocolate with slightly darker steel brown on the highpoints. Lightly worn with very nice eye appeal. The only defects are some fine planchet laminations on both sides and a small planchet fissure at the rim over the R in LIBERTY and at the opposing edge at the end of the right wreath ribbon (all as struck). Otherwise just a few microscopic ticks of no significance. LDS, Breen state II, Heck 5, with a strong die crack down through the E into the hair where it fades away left of the ear. Graded VF25 and tied for CC#16 in the Noyes census, his photo #25922.Certificate Number: Pedigree: Ex Arthur Sargent, S. H. Chapman 6/20/1913:411-unknown-Rare Coin Company of America 1/1978:25-Ed Hipps-Denis W. Loring 8/1980-Fred H. Borcherdt Collection

1794 S-50 R5 Head of 1794 PCGS graded XF45Glossy tan and light olive blending to reddish brown in protected areas. Smooth and quite attractive with light wear and trivial marks. The notable marks are a small spot of darker toning (not carbon) in the field below the cap, a nick on the top of the I in LIBERTY, and a small tick left of the first S in STATES. Nicely centered and well struck. LDS, Breen state III (a die state called Extremely Rare by Breen), Heck state 2, with a clear die crack from the 4 through the bust tip and pole into the field to the right. Graded VF25 and CC#7 in the Bland census. Noyes says VF30 net VF20 and tied for CC#6, his photo #26537. Our grade is VF25. This is the discovery coin for the variety, identified as a new die combination by Ebenezer Gilbert in 1896. This cent comes with a remarkable provenance and the H & D in HUNDRED are filled with yellow ink to identify this as a coin from the Homer Downing Collection. Both sides are plated in the Gilbert-Elder reference and the obverse is plated on page 22 of the 1979 Morley reference. Just an all-around great cent.Certificate Number: 35612.45/57538491Pedigree: Discovered as a new variety by Ebenezer Gilbert in 1896, Thomas L. Elder 10/12/1910:57-Henry Olson Granberg, The United States Coin Co.5/19/1915:145-Dr. George P. French, B. Max Mehl 1929 FPL, lot 84-T. James Clarke 1944, B. Max Mehl-John P. Young, Barney Bluestone 4/27/1945:1780-Dr. William H. Sheldon-Sheraton Coin Co., 1947 ANA Sale (Numismatic Gallery), lot 823-Dr. William H. Sheldon-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1703-Dr. William H. Sheldon-Dorothy I. Paschal 3/1977-Del N. Bland 1/2/1987-Fred H. Borcherdt Collection (includes the Paschal collection envelope)

1794 S-51 R4 Head of 1794 PCGS graded AU53Very attractive glossy light olive and medium brown. Smooth with just minor marks including a tiny rim nick at the I in LIBERTY, another light nick in the field off the chin, one other the A in STATES, and a tiny rim bruise at the first A in AMERICA. Only the rim bruise catches your eye. Nicely struck EDS, Breen state I, Heck 1, with an uncracked obverse. Graded VF30 and tied for CC#7 in the Bland census. Noyes says VF35 net VF30 and tied for CC#6, his photo #25875. Our grade is VF30. Another beautiful 1794 cent in this great collection.Certificate Number: 35615.53/57538492Pedigree: Ex Dr. Augustine Shurtleff 2/27/1901-Museum of Fine Arts (Boston), 1976 ANA Sale (Stack's), lot 231-Del N. Bland 9/17/1984-Fred H. Borcherdt Collection (includes the Bland collection envelope)

1794 S-51 R4 Head of 1794 AG3+Glossy medium steel brown with darker olive brown in the most-protected areas. The surfaces are smooth and void of significant marks, just heavily worn. A rim bruise at CA is the only notable mark. Rare terminal die state, Breen state IV, Heck 6, with strong die cracks that severely weaken the lower half of the 7. This is the plate coin for the die state in the 2022 Heck reference on the die states of 1794 cents (die state 6, page 132). Graded G5 net G4 by Noyes, his photo #61121.Certificate Number: Pedigree: Ex Douglas F. Bird 6/21/2009-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection

1794 S-52 R6- Head of 1794 VG8+Mostly glossy medium steel brown and light chocolate. No corrosion or verdigris, but this cent is nearly covered with small nicks and planchet chips, only the highpoints and some of the protected areas are void of marks. Otherwise the details of this cent are consistent with a higher grade. A collection of faint, nearly horizontal hairline scratches at the 17 can help identify this cent. LDS, Breen state II, Heck state 3 late, with a strong radial die crack to the top of the cap. Graded VG8 and tied for CC#11 in the Noyes census, his photo #25992. An imperfect but still decent example of this very rare variety.Certificate Number: Pedigree: Ex Dr. Robert J. Shalowitz-C. Douglas Smith-Denis W. Loring 8/1980-Fred H. Borcherdt Collection

1794 S-53 R6 Head of 1794 VG8+Significantly sharper than the assigned grade, but there is corrosion on the neck and lower right quarter of the obverse. The rest of the planchet is reasonably smooth with only microscopic roughness in the fields and protected areas on both sides. The highpoints are smooth but the corrosion on the neck is significant, and there are traces of microscopic greenish verdigris in that area. The only notable contact mark is a rim bruise just left of the date. Mostly glossy medium brown with darker olive brown in some of the protected areas. EDS, the only die state for this variety due to its short production run. Graded VF20 net VG10 and tied for CC#10 in the Bland census. Noyes says VF20 net VG7 and CC#9, his photo #22578. An acceptable example of one of the toughest 1794 varieties in the numbered Sheldon series.Certificate Number: Pedigree: Ex a Midwestern Type Set-Downie Lepczyk Auctions, Ltd. (privately) 7/28/1986-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection

1794 S-54 R3 Head of 1794 VF25Glossy light olive and medium brown with a puff of reddish brown toning at LI and a smaller one on the chin. The surfaces are smooth except for the central part of the reverse where there are tiny planchet chips and nicks. The only notable marks are a couple faint diagonal hairline scratches through the E in CENT. The obverse would grade a nice VF30 but the reverse is weaker, perhaps net VF20. M-LDS, Breen state III, Heck state 2., with die clashmarks on both sides. Graded VF30 net VF20 and tied for CC#16 in the Noyes census, his photo #25831.Certificate Number: Pedigree: Ex Denis W. Loring 8/1980-Fred H. Borcherdt Collection

1794 S-55 R2 Head of 1794 VF20Glossy dark steel and olive brown. Smooth with light to moderate wear and no verdigris, just a few contact marks. A small nick on the truncation over the 4 and a small but obvious rim dent at the E in AMERICA are the notable marks. MDS, Breen state II, Heck 2, with a clear die crack from the rim to the hair under the cap and in the hair at the shoulder. Graded VF20 net F15 by Noyes, his photo #25721.Certificate Number: Pedigree: Ex Denis W. Loring 1978-Fred H. Borcherdt Collection

1794 S-56 R3 Head of 1794 VF25Glossy light olive brown and chocolate with smooth surfaces and minor marks. A shallow planchet chip on the rim before the bust and a very tiny rim bruise right of the Y are the only notable defects. LDS, Breen state III, Heck 3. with no die clashmarks on the reverse. A decent example of the "Office Boy Reverse" variety, so-called because of the amateurish layout of the legend on that die.Certificate Number: Pedigree: Ex C. Douglas Smith-Matternes, Lester Merkin 10/31/1973:251-Denis W. Loring-Dr. Robert J. Shalowitz-Denis W. Loring 8/1980-Fred H. Borcherdt Collection (includes the Loring collection envelope)

1794 S-57 R1 Head of 1794 PCGS graded AU53Very attractive glossy light to medium brown and light chocolate with frosty lighter brown toning in protected areas on the reverse. Lightly worn with just a hint of friction on the highpoints, but there are some marks. The only significant mark is a short vertical scratch down from the tip of a lower curl to the dentils below and there are a few very light, barely visible rim bruises and tiny rim nicks on both sides, none notable. A small spot of darker olive brown toning at the left foot of the L in LIBERTY is a good identifying mark. MDS, Breen state III, with two clear "trenches" in the field before the face and a depression at the dentil tips over CA. Called AU55 net EF45 by Bland. Noyes says MS60 net AU50, his photo #69662 and again for the same coin AU50 net EF40 as photo #85219. Our grade is net EF45. Comes with an impressive provenance.Certificate Number: 35633.53/81232298Pedigree: Ex Dr. George P. French, B. Max Mehl FPL 1929:36-T. James Clarke 1944-B. Max Mehl #106, 6/1945:1643-B. Max Mehl #112, 4/1949:2305-R. E. "Ted" Naftzger, Jr.-John W. Adams-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:76-Julian Leidman, McCawley & Grellman Auctions/Goldbergs 9/2008:312-Walter J. Husak-Jon A. "Al" Boka, Heritage Auctions 9/8/2016:5342-Fred H. Borcherdt Collection

1794 S-58 R3 Head of 1794 VF20Glossy medium brown with darker chocolate in protected areas. Smooth and very attractive with just a few small marks including a tick right of the earlobe and another at the jawline. Otherwise choice. MDS, Breen state II late, Heck state 4, with a die crack through NIT and die clashmarks on both sides. Graded VF25 net F15 by Noyes, his photo #26165. An attractive mid-grade cent.Certificate Number: Pedigree: Ex Denis W. Loring 8/1980-Fred H. Borcherdt Collection

1794 S-58 R3 Head of 1794 F12Glossy light brown with darker chocolate in protected areas. Mostly smooth but there are some tiny pits in the field below the cap. The notable contact marks are some very faint scratches lost in the toning on the neck and into the hair, several tiny ticks left of the C in CENT, and a minor rim bruise at the E in UNITED. Appears to be coated with a thin layer of wax or lacquer resulting in highly glossy surfaces. Looks better than it might sound. M-LDS, Breen state III late, Heck state 6, with a strong die crack through UNITE to the rim at both ends.Certificate Number: Pedigree: Ex Herman Halpern, Stack's 3/1987:131-Fred H. Borcherdt-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection

1794 S-59 R3 Head of 1794 VF25+Glossy chocolate brown and steel with hints of reddish chocolate in some of the protected areas. Smooth with very nice eye appeal. The only mark is a small rim bruise at the U in UNITED. E-MDS, Breen state II, Heck 1, with clashmarks but no die cracks. Graded VF30 net VF25 and tied for CC#16 in the Noyes census, his photo #26001.Certificate Number: Pedigree: Ex 1981 EAC Sale, lot 90 (as VF30)-Fred H. Borcherdt Collection

1794 S-59 R3 Head of 1794 F12A cent with light to moderate wear but the planchet is covered with fine roughness augmented by a patch of corrosion on the bust and a smaller patch at the rim over the end of the pole. Partly glossy olive brown with lighter brown on the highpoints and a streak of reddish brown in the field below the cap. Otherwise rather nice, and the eye appeal is better than the description implies. M-LDS, Breen state V late, Heck 7, with a very bold die crack at the bottom of the reverse, and the section outlined by the crack has shifted outward. This is the Heck plate coin for the die state in his 2022 reference on the die states of 1794 cents. Graded VF30 net VG7 by Noyes, his photo #32135. A really neat die state.Certificate Number: Pedigree: Ex Willard C. Blaisdell-Fred H. Borcherdt Collection

1794 S-59 R3 Head of 1794 Fair-2Mostly glossy chocolate with lighter brown on the highpoints. Heavily worn with fine scratches at the date and stronger ones at the bottom of the reverse. The date is quite faint and no more than half of the devices on the reverse can still be made out. Tare terminal die state, Breen state VI, Heck 9, with a large, bold cud break at the bottom of the reverse. This is the plate coin for the die state in the 2022 Heck reference. A n ugly example of a very impressive die state. Noyes lists only two examples of this die state in his census: this coin and a "Scudzy" AG3 in the ANS Collection. Not much from which to choose.Certificate Number: Pedigree: Ex J. R. "Bob" Grellman, Jr. 12/15/1990-Fred H. Borcherdt Collection

1794 S-60 R3 Head of 1794 VF25Attractive glossy medium olive brown with very subtle lighter brown woodgrained toning at the upper part of the reverse. Smooth and sharp; choice if not for a scratch from the earlobe to the throat. The only other notable mark is a diagonal nick at the left top of the E in ONE. E-MDS, Breen state II late, Heck 2, with heavy die clashmarks at the top of the head. Graded VF30 and tied for CC#11 in the Bland census. Noyes says VF35 net VF25 and tied for CC#16, his photo #26066.Certificate Number: Pedigree: Ex Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1679-Dr. William H. Sheldon-Dorothy I. Paschal-Denis W. Loring 7/1979-Fred H. Borcherdt Collection

1794 S-61 R4 Head of 1794 NGC graded MS61 BrownGlossy light olive brown and chocolate with slightly lighter brown toning on the devices. A very sharp cent that has excellent eye appeal and just a hint of rub on the highpoints. The only marks are some of the usual tiny planchet imperfections/chips scattered over both sides. The notable ones are a couple at IT in UNITED and a thin void through the left foot of the first A in AMERICA, all as struck of course. MDS, Breen state III, with obvious die clashmarks on both sides and fine die cracks. This is the plate coin for the variety in Early American Cents, Penny Whimsy, and the 2000 Breen encyclopedia on early large cents. Called MS60 and CC#2 in the Bland census. Noyes says MS60 net AU50 and tied for CC#2 honors, his photo #36357. Our grade is AU58. This cent was once included on the list of pieces removed from the Clapp-ANS collection, but it was subsequently removed from that list (see the Winter 1999 ANS Newsletter, page 12, showing this S-61 was removed from the list of cents in dispute). Comes with a great provenance that has been traced back more than a century.Certificate Number: 6357149-009Pedigree: Ex Henry C. Miller, The United States Coin Co. 12/5/1917:115-Dr. George P. French-Charles E. Clapp, Sr., 12/1924-George H. Clapp-American Numismatic Society-Dr. William H. Sheldon-T. James Clarke 5/1955-R. E. "Ted" Naftzger, Jr.-John W. Adams-Bowers & Ruddy 1982 FPL, lot 60-Bowers & Ruddy FPL #46, 12/1982 ($8000)-Dr. Boyd E. Hayward, Bowers & Merena 9/1997:263 (withdrawn and returned to Dr. Hayward pending the ANS dispute resolution that was settled in 1999)-McCawley & Grellman Auctions/Goldbergs 2/10/2008:1044-Chris McCawley 4/24/2009-Larry A. Bland Collection, Early Cents Auctions 9/3/2022:521-Fred H. Borcherdt Collection

1794 S-62 R4+ Head of 1794 VF30A sharp, very attractive cent with choice glossy medium chocolate brown toning, but there is a rim dent at TA in STATES. The surfaces are smooth and the only additional marks are a barely visible rim bruise below the lowest curl and a low spot below EN in CENT (as struck). Scarce EDS, Breen state I, Heck state 2, with no cud on the obverse but with sharp die clashmarks at the denominator and adjacent A. The obverse is plated in Early American Cents, Penny Whimsy, and in the 1979 Morley reference. Both sides are plated in the 1991 Noyes reference. Graded EF40 and CC#2 in the Bland census. Noyes says VF35 and tied for CC#2 overall but finest of the early die state., his photo #20693. Comes with an important provenance--as you would expect.Certificate Number: Pedigree: Ex Colonel E. H. R. Green-Green Estate-B. G. Johnson (St. Louis Stamp & Coin Co.) 3/24/1943-Abe Kosoff-Oscar J. Pearl, Numismatic Gallery 1944 FPL, lot 75-Edward L. Urban-Robert J. Kissner, Stack's 6/27/1975:261-R. E. "Ted" Naftzger, Jr. (via William C. Noyes)-Fred H. Borcherdt Collection (includes the Stack's lot envelope for the Kissner sale, and that envelope also served as the Naftzger collection envelope)

1794 S-62 R4+ Head of 1794 VG10Considerably sharper but covered with fine roughness and there are a few rim bruises on both sides. Rather glossy dark olive brown and steel with lighter steel brown toning on the highpoints. There are traces of shallow verdigris in some protected areas and the notable marks are a rim bruise at ER in LIBERTY and another at the F in OF. LDS, Breen state II, Heck state 3, with a large cud break on the left side of the obverse, the usual die state for this variety. Graded VF30 net VG10 by Noyes, his photo #26205.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1794 S-63 R2 Head of 1794 VF35Very attractive glossy medium brown and light chocolate with underlying mint frost in the fields and protected areas. Sharply struck with very light wear on the devices and great eye appeal, but there are some light scuff marks on the rims that were added to minimize some minor rim bruises. The most notable bruises are left of the lowest curl, over RTY, and at OF. Otherwise just a few trivial ticks and planchet chips on both sides. LDS, Breen state II, Heck 2, with sharp die clashmarks on both sides. Graded EF45 net VF35 and tied for CC#17 in the Noyes census, his photo #26100.Certificate Number: Pedigree: Discovered in England 12/1/1984-American Heritage Minting (Billy Paul)-Del N. Bland 5/1985-Fred H. Borcherdt Collection

1794 S-64 R5- Missing Fraction Bar, PCGS XF Details, Edge RepairedGlossy brown and light olive with smooth surfaces and great eye appeal for the grade. Moderately worn and surprisingly void of marks. A very light, barely visible rim bruise right of the fraction is the best identifying mark, and it is easily missed. There is an incipient planchet clip at the edge before the upper part of the neck (the folks at PCGS mistook this as "Damage," but it is a minor mint error). LDS, Breen state V, Heck 5, with a strong radial die crack through the D in UNITED plus a lighter crack from the dentils to the right top of the M in AMERICA. Much of the D is filled with a small internal cud break and the center of the reverse is swollen causing weakness at ON and CEN. The Missing Fraction Bar feature is obvious. Our grade is VF20.Certificate Number: 35708.98/57538493Pedigree: From the Fred H. Borcherdt Collection

1794 S-65 R1 Head of 1794 VF35Very attractive glossy light to medium brown and olive with frost in some of the protected areas. Smooth with a few light contact marks including a tiny rim bruise left of the lowest curl and another over the R in LIBERTY. This cent has great eye appeal for the grade. Rare EDS, Breen state I late or II early, Heck state 2, with no die cracks, only faint die clashmarks on the obverse. Graded EF40 by Denis Loring (cataloger for the Dr. Ruby sale in 1974). Noyes says VF35 net VF30 and tied for CC#30 overall but finest of the early die state, his photo #25779. A very nice example of a rare die state, and it comes with an important provenance.Certificate Number: Pedigree: Ex Ebenezer Gilbert-Henry C. Hines-Barney Bluestone-Dr. Charles L. Ruby, Superior 2/11/1974:395 (as EF40, Plated)-Fred H. Borcherdt Collection

1794 S-65 R1 Head of 1794 PCGS graded MS63 BrownLustrous olive and steel brown with traces of faded mint red in protected areas on the obverse. The surfaces are satiny and the eye appeal of this cent is superb. Looks choice mint state but there is a trace of friction on the very highest parts of the hair. No spots, stains, or contact marks. The planchet is smooth except for the microscopic die erosion lines associated with the die state and some extremely tiny planchet chips at ICA, all as struck. MDS, Breen state IV, Heck 6 early, with fine die cracks and die erosion lines, mostly on the reverse. Tentatively graded AU55 by Bland but unseen by him and tied for CC#2 honors in his census behind an MS60 with planchet roughness. Noyes says MS60 net AU55 (reason for deduction unknown) and tied for CC#2, his photo #27174. In our opinion this piece is clearly superior to the MS60 and the other AU55 pieces in both census lists based on a photo comparison. It has less friction on the hair with better luster and surfaces. Take a look. Our grade is AU58.Certificate Number: 35654.63/57538495Pedigree: Ex a type coin collector from New Jersey (who had owned the coin since the early 1960's) 3/30/1990-Fred H. Borcherdt Collection.

1794 S-66 R5 Head of 1794 PCGS graded VG8Glossy light to medium brown. Smooth with some small marks including a diagonal nick close to the earlobe. The date is bold and the legends are strong except for some weakness at ONE CENT. MDS, Breen state II Late, Heck state 3, with a strong die crack along the bottom edge of the pole. Graded VG7 and tied for CC#12 in the Bland census. Noyes says G5, his photo #28253. Our grade is VG7. A decent lower grade example of this tough variety, and it comes with a nice provenance.Certificate Number: 35657.08/57516991Pedigree: Ex William O. Pukall, Thomas L. Elder (privately) 12/2/1935-Dr. Charles L. Ruby 12/1972-Superior Stamp & Coin Co.-Superior 2/11/1974:397-Tom Morley, Cape Kennedy Medals 12/1975:65-William R. T. Smith 2/1977-John D. Wright Collection 1/18/2006-Bob Grellman & Chris McCawley-Fred H. Borcherdt Collection

1794 S-67 R3 Head of 1795, PCGS AU Detail, ScratchBeautiful uniform glossy medium chocolate brown with frost in protected areas. A sharp cent and choice except for a collection of short, dull scratches at the ribbon end and adjacent A right of the fraction. MDS, Breen state III, Heck 1, with die clashmarks on both sides and a faint die crack through the top of RTY. Our grade is EF45 sharpness net VF35.Certificate Number: 35684.95/57516973Pedigree: Found in England in 1996-Fred H. Borcherdt Collection

1794 S-68 R5 Head of 1795 PCGS graded VF35Choice glossy medium brown and light chocolate. Smooth with great eye appeal for the grade. A barely visible rim bruise at the Y, a small nick off the upper lip, and a dull nick close under the ear are the only notable marks, and they are insignificant. LDS, Breen state V, Heck that 3. The bisecting die crack on the obverse is complete and the section above the crack is raised on a higher plain causing the hair above to be a bit weaker than the hair below. Graded F15 and tied for CC#9 in the Bland census. Noyes says VF20 net F15 and tied for CC#7, his photo #26442. Our grade is VF20. The overall sharpness may be a point or two less than you expect for a VF20 grade, but the late die state and beautiful surfaces give it a little bump up in our opinion--especially for a variety that is difficult to find without problems.Certificate Number: 35687.35/57538496Pedigree: Ex 1987 EAC Sale, lot 113a-Dr. Robert J. Shalowitz-Fred H. Borcherdt Collection

1794 S-69 R3 Head of 1795 PCGS graded AU53Choice glossy woodgrained mix of tan and light chocolate brown. Smooth with trivial marks including a light scratch down the face from before the eye to the lips. This mark is not visible to the unaided eye and the cent has great eye appeal for the grade. MDS, Breen state II, Heck 2, with die clashmarks on both sides. Graded VF35 and tied for CC#10 in the Bland census. Noyes says VF30 net VF25 and tied for CC#15. Our grade is VF30+, close to VF35.Certificate Number: 35690.53/57538497Pedigree: Ex Bowers & Ruddy (OTC) 8/23/1976-Denis W. Loring 5/7/1983-Jack H. Robinson, Superior 1/29/1989:123-Douglas F. Bird-Fred H. Borcherdt Collection (includes the Loring collection envelope)

1794 S-70 R2 Head of 1795 PCGS graded AU55Glossy light olive and steel brown. Smooth with light wear on the devices and no notable marks. A tiny planchet flake on the brown above the die crack may help identify this cent, but you need a glass to find it. M-LDS, Breen state III, Heck 4, with a radial die crack at TY and die clashmarks on both sides. Graded EF40 and tied for CC#7 in the Noyes census, his photo #25706. Our grade is EF40. A very nice cent.Certificate Number: 35693.55/57538498Pedigree: Ex Denis W. Loring-Fred H. Borcherdt Collection

1794 S-71 R2 Head of 1795 PCGS graded AU50Frosty chocolate and steel brown with frosty lighter brown and tan in protected areas. Smooth and quite attractive, void of any notable marks other than a shallow chip or nick on the rim over TA in STATES. The reverse is a solid EF40 with lustrous fields but the hair details between the ear and cap are too weak for the higher grade. M-LDS, Breen state V early, Heck 4, with a fine die crack from the dentils between the T & Y toward but not reaching the forelock. Graded VF30 Choice and tied for CC#13 in the Noyes census, his photo #27123. Our grade is VF35.Certificate Number: 35696.50/57538499Pedigree: Ex J. H. South, Stack's 2/24/1951:342-unknown-Stack's 9/1989:278 (as AU50)-James R. McGuigan-Fred H. Borcherdt Collection

1794 S-72 R2 Exact Head of 1795, PCGS graded AU55Choice glossy medium brown with slightly darker steel brown toning on the highest points of the devices. Lightly worn and nearly flawless. A thin nick on the lower edge of the jaw and a tick close below the C in CENT are the only notable marks. M-LDS, Breen state IV, Heck state 5. The die crack at TY reaches to the back of the head and there are die clashmarks on both sides. Graded EF40 and tied for CC#6 in the Bland census. Noyes says EF45 net EF40 and tied for CC#5, his photo #26376. Our grade is EF40+, close to EF45. A beautiful example of "The Exact Head of 1795" variety.Certificate Number: 35699.55/57538500Pedigree: Ex Hollinbeck Coin Co. 4/1956:67-Glen Wallace, Abe Kosoff, Rare Coin Company of America 5/9/1974:820-C. Douglas Smith-Tom Morley 4/1979-John Philips-Norman Stack Collection-Herman Halpern, Stack's 3/16/1988:105-Fred H. Borcherdt Collection

1795 S-73 R5- Lettered Edge PCGS Fine Detail, Environmental DamageGlossy dark olive brown and steel with fine granularity in the fields and protected areas. The glossy toning helps disguise the roughness and the eye appeal is decent for the grade. No verdigris and the only marks are a small chip or pit in the hair left of the earlobe and a very small rim bruise at the U in UNITED. LDS, Breen state IV, with fine die cracks on both sides. Graded F12 and tied for CC#7 in the Bland census. Noyes says VF20 net F12 and tied for CC#3, his photo #26531. Our grade is VF20 sharpness net F12. An acceptable example of a variety that is quite difficult to find in higher gradesCertificate Number: 35711.97/52085729Pedigree: Ex Elmer S. Sears-W. T. Dalley 10/2/1942-Willard C. Blaisdell-Del N. Bland-William R. T. Smith-R. S. "Robbie" Brown, Jr.-Denis W. Loring-Fred H. Borcherdt Collection

1795 S-74 R4- Lettered Edge PCGS graded AU58+Very attractive glossy light brown with slightly darker steel brown on the highpoints. Smooth with minor contact marks including a very light rim bruise under the left end of the wreath ribbon. MDS, Breen state V, with minor die cracks and bulges on both sides. A nice cent, close to EF45. Graded EF40 by Del Bland and tied for CC#6. Noyes says EF45 net EF40 and tied for CC#6, his photo #34636. Our grade is EF40+, close to EF45. Comes with a great provenance for a relatively modest cent.Certificate Number: 35714.58+/57538501Pedigree: Ex F. C. C. Boyd-Dorothy I. Paschal, New Netherlands Coin Co. 12/6/1957:980-Harold Bareford 9/13/1985-Herman Halpern, Stack's 3/16/1988:105-Dr. Michael Eisenberg 10/1996-Eugene Sternlicht-Fred H. Borcherdt Collection

1795 S-75 R3 Lettered Edge PCGS graded AU55Glossy light to medium brown with slightly darker steel brown and olive on the highpoints. Smooth and choice except for an unobtrusive spot of smooth reddish verdigris or crud nestled over the second T in STATES. The rest of the planchet is perfectly smooth and the only other notable mark is a small horizontal nick high on the cheek. M-LDS, Breen state IV, with fine die cracks and minor swelling. Graded EF45 net EF40 by Noyes, his photo #28908. Our grade is EF40+.Certificate Number: 35717.55/57538502Pedigree: Ex Abner Kreisberg-Ted Kress-Fred H. Borcherdt Collection

1795 S-76a R5 Lettered Edge, Thick Planchet, PCGS AU Detail, CleanedA sharp, lightly worn cent that may have been lightly cleaned and retoned long ago. Glossy tan and light brown with some olive brown on the left side of the obverse with a streak of similar toning on the reverse. The surfaces are smooth except for a few tiny planchet voids in the obverse fields and a couple shallow flakes under the C in CENT (as struck). MDS, Breen state II, with some light die clashmarks on both sides. A relatively new example, not evaluated by Noyes or Bland. Our grade is AU50 sharpness net EF40. The third finest of this tough Lettered Edge variant in our opinion, and the second finest resides in the ANS Collection.Certificate Number: 35720.92/57516974Pedigree: From the Fred H. Borcherdt Collection

1795 S-76b R1 Plain Edge, Thin Planchet, PCGS graded AU55Glossy light olive and chocolate with frosty lighter brown in protected areas. Smooth and choice, essentially flawless if not for some microscopic planchet chips, mostly on the bust, around the eye, and at the O in OF. Lightly worn with great eye appeal. MDS, Breen state V. The pole is thinner due to die lapping and just touches the neck. Graded AU50 net EF45 by Noyes, his photo #28953. Our grade is EF45+. A very attractive example of this common die variety.Certificate Number: 35723.55/57538503Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1795 S-76b R1 Plain Edge, Thin Planchet, PCGS AU Detail, Corrosion RemovedA sharp cent with very little wear, but there are a few light scratches at the date and an area of minor roughness at ITE into the leaves below. Otherwise this cent is choice and the eye appeal is really nice. Glossy light to medium brown with splashes of reddish chocolate at ITED. MDS, Breen state VI, with subtle bulges in the fields on the obverse and the pole is shorter due to die polishing. A curved planchet clip affects the dentils at the cap and the opposing ones over NITE. A very attractive example of this relatively common type of mint error in spite of the minor defects. Our grade is AU50 sharpness net VF35.Certificate Number: 35723.97/57516975Pedigree: From the Fred H. Borcherdt Collection

1795 S-77 R3 Plain Edge, Thin Planchet, PCGS graded AU55+Glossy dark steel brown with generous amounts of frosty golden tan faded down from mint color in the fields and protected areas. Lightly worn and choice except for a few small planchet chips including a rather obvious one on the end of the chin. Nicely struck except for the usual weakness at the N in UNITED and O in OF. E-MDS, Breen state II, with faint die clashmarks on the obverse and no die cracks. Graded AU50 by Del Bland and tied for CC#4 in his census. Noyes says AU50 net EF45 and tied for CC#5, his photo #34059. Our grade is EF45+, close to AU50. Two of the finer examples are in the ANS Collection. A very nice cent that comes with a great provenance.Certificate Number: 35726.55+/57538504Pedigree: Ex Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:80 (as UNC)-T. James Clarke-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co 11/14/1973:398 (as AU58)-First Coinvestors, 1975 EAC Sale (Pine Tree Auction Co.) 2/1975:659 (as MS60)-Charles E. Harrison-Fred H. Borcherdt Collection

1795 S-78 R1 Plain Edge, Thin Planchet, PCGS AU Detail, Environmental DamageGlossy dark olive and steel with lighter brown in protected areas. Mostly smooth but there are small planchet chips on both sides, particularly on the bust and around NITE (all as struck), plus traces of microscopic verdigris in some protected areas on the reverse. Otherwise lightly worn and smooth with no notable contact marks. E-MDS, Breen state II, with faint die clashmarks on both sides. Graded AU50 net VF30 by Noyes, his photo #27025. Our grade is EF45+ sharpness net VF35Certificate Number: 35729.97/57516976Pedigree: Ex Denis W. Loring 1/1984-Fred H. Borcherdt Collection

1795 S-78 R1 Plain Edge, Thin Planchet, PCGS graded XF45Choice glossy light brown blending to chocolate in some of the protected areas. Smooth and virtually void of contact marks. A small spot of darker brown toning (not carbon) under the bust tip and another left of the lowest curls are the only notable marks. LDS, Breen state VI, with crumbling connecting the top of the 5 to the bust. This cent was struck twice. The first impression was slightly off center leaving the top of the cap and much of LIBERTY off the planchet. Then the planchet was flipped over and restruck with bold evidence of the first strike remaining visible on both sides. The strikes were quite strong causing the planchet to spread, and the cent has a diameter of 31 to nearly 32 millimeters rather than the normal 28.5 for these thin planchet strikes. Our grade is VF30. A really impressive mint error in choice condition. The Flip-Over Double Strike feature is noted on the PCGS label.Certificate Number: 35729.45/61275931Pedigree: Ex Ted Kress-Fred H. Borcherdt Collection

1796 S-81 R3 Liberty Cap PCGS graded AU53Glossy chocolate and lighter brown with frost in protected areas, particularly on the reverse. Smooth and choice except for a very thin planchet fissure in the hair from below the right edge of the B to just left of the earlobe (as struck). Otherwise just a couple trivial contact marks including a light nick mid-jawline and a small nick at the bottom of the O in ONE. EDS, Breen state I, before any die cracks. The repunching on the first 0 in the denominator is clear. ONE CENT is relatively strong which is a big plus for this variety. Graded EF40 net VF35 and tied for CC#13 in the Noyes census, his photo #27073. Our grade is VF35.Certificate Number: 35750.53/57516977Pedigree: Ex Ted Kress 12/1985-Fred H. Borcherdt Collection

1796 S-82 R5 Liberty Cap PCGS AU Detail, ScratchSharpness EF45 but there are numerous fine scratches on the top of the head, and a few of them extend into the field at LIBERTY and the rim above. Fortunately all the scratches are old and blended into the toning. Otherwise the surfaces are smooth and show just a few trivial marks. Glossy uneven mix of dark steel brown and frosty tan with some small areas of darker reddish chocolate on both sides. LDS, Breen state II, with fine die clashmarks on both sides. Graded VF30 and tied for CC#5 in the Bland census. Noyes says EF40 net VF20 and tied for CC#7, his photo #22046. Our grade is EF45 sharpness net VF25. A sharp but imperfect cent that comes with a very impressive provenance that is a century old.Certificate Number: 35753.95/57516978Pedigree: Ex Dr. G. F. E. Wilharm, B. Max Mehl 2/15/1921:1347-William Festus Morgan, J. C. Morgenthau & Co. 6/16/1932:31-Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:85 (as XF)-Judge Joseph Sawicki, French's 9/1948:239-Mason Dixon Coin Exchange 3/1957:742-Glen Wallace-Abe Kosoff, Rare Coin Company of America 5/9/1974:827 (as XF45)-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:109-Hanks & Associates-Dr. Robert J. Shalowitz-Dr. C. R. Chambers-Dennis Mendelson-Fred H. Borcherdt Collection

1796 S-83 R4 Liberty Cap PCGS graded VF35Slightly sharper but the toning is uneven and there are some stains of reddish chocolate mixed with glossy medium brown and light olive. Traces of microscopic roughness can be found in some of the stained areas but overall the surfaces are smooth. The only notable marks are a couple dull ones left of the cap. M-LDS, Breen state II, with a strong die crack through ERTY to the dentils off both ends. Graded F12 by Bland. Noyes says VF20 net F12 and tied for CC#11, his photo #33077. Our grade is VF20 sharpness net F15. Comes with a nice provenance.Certificate Number: 35756.35/52085733Pedigree: Ex Charles M. Williams, Numismatic Gallery 11/14/1950:94-Willard C. Blaisdell-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:110-Fred H. Borcherdt Collection (includes the Brown lot ticket)

1796 S-84 R3 Liberty Cap PCGS graded AU58Choice glossy light to medium brown with slightly darker steel brown on the highpoints and frost in protected areas. Smooth and beautiful with light wear and trivial marks; a tiny rim nick over the N in UNITED is a good identifying mark. MDS, Breen state III, with a fine die crack through the top of OF to above the adjacent S. Graded EF45 net EF40 and tied for CC#14 in the Noyes census, his photo #29108 (no idea why the 5-point deduction). Our grade is EF45. A beautiful 1796 Liberty Cap cent.Certificate Number: 35759.58/57516979Pedigree: Ex Stack's 1/27/1967:8 (as AU)-Fred H. Borcherdt Collection

1796 S-85 R5- Liberty Cap PCGS graded AU58Glossy light brown with darker steel brown toning on the highpoints and hints of mint frost in protected areas. Smooth and sharp with very nice eye appeal, but there are some small contact marks keeping this cent from a slightly higher grade. A group of tiny nicks under the earlobe, a pair of light scratches near the rim before the face, and a few pinpricks on the pole are the notable marks, but none of them is significant or distracting. Nicely struck EDS, Breen state I, before the reverse was reground weakening many of the devices. Graded VF30 by Bland and tied for CC#4. Noyes says EF40 net VF30 and tied for CC#2 with the ANS example, his photo #29941. Our grade is VF35.Certificate Number: 35762.58/57516980Pedigree: Ex Leon A. Van Horn (circa 1967)-Charles A. Blood-Lillian S. Willins-Fred H. Borcherdt Collection

1796 S-86 R5 Liberty Cap PCGS graded VF25Glossy medium brown and light chocolate. Smooth and choice except for a small but obvious rim dent at TA in STATES. EDS, Breen state I, before any crumbling on the profile. Graded F15 by Bland and tied for CC#9. Noyes says VF25 net VF20 and tied for CC#5, his photo #39883. Our grade is F15+.Certificate Number: 35765.25/52085728Pedigree: Ex Tebo Coin Co.-Dr. Donald B. Moore, 1976 EAC Sale (Pine Tree Auction Co.) 3/5/1976:2359 (plated)-Myles Z. Gerson-Richard V. Punchard 3/30/1976-Fred H. Borcherdt Collection

1796 S-87 R3 Liberty Cap PCGS graded XF45Glossy chocolate brown and steel with traces of lighter brown in protected areas on the obverse. Smooth with very nice eye appeal. A few faint hairline scratches under the bust and an incipient planchet clip at the F in OF are the best identifying marks. M-LDS, Breen state III, with a die crack through the 7 and bust to the pole and die rust at the U in UNITED. Struck about 5% off center to K-8.5 affecting only the dentils on both sides. Graded VF30 Choice and tied for CC#8 in the Noyes census, his photo #33277. Our grade is VF25+.Certificate Number: 35768.45/57516981Pedigree: Ex Atkinson 4/11/1934-Fred Clymer-Fred H. Borcherdt Collection

1796 S-88 R4 Liberty Cap PCGS graded VF30Attractive glossy chocolate brown and steel. Sharply struck with the details and eye appeal of a higher grade, but there are a couple faint vertical hairline scratches on the portrait and a half dozen more in the field left of the cap. The surfaces are smooth except for a small patch of fine roughness left of the numerator. MDS, Breen state II early, with a faint die crack through the right side of the 7 into the truncation above. Graded VF20 and tied for CC#7 in the Bland census. Noyes says VF30 net VF20 and tied for CC#6, his photo #26016. Our grade is VF25 sharpness net VF20.Certificate Number: 35771.30/52084638Pedigree: Ex Bowers & Merena 11/1986:2827-Fred H. Borcherdt Collection

1796 S-89 R3 Liberty Cap PCGS graded VF35Glossy chocolate with lighter steel brown toning on the highpoints. Smooth with very nice eye appeal and trivial marks. A tiny chip at the right top of the I in LIBERTY and a barely visible rim bruise right of the Y are the best identifying marks, but neither is significant. E-MDS, Breen state I, before any die clashmarks or crumbling. Graded VF20 net F15 and tied for CC#10 in the Noyes census, his photo #33127. Our grade is F15+. A decent example of a variety that is surprisingly difficult to find in higher grades; the finest grades only VF30 by EAC grading standards.Certificate Number: 35774.35/57516982Pedigree: Ex Dorothy I. Paschal-Ray Chatham-Fred H. Borcherdt Collection

1796 S-90 R5+ Liberty Cap NGC graded VF30Glossy dark olive brown and steel on the devices with frosty lighter brown in the fields and protected areas. Mostly smooth but there is a collection of tiny planchet chips at the left wreath ribbon (as struck) and two small pits at the rim over AM. A minor beveled planchet clip over the second T in STATES is a good identifying feature of this cent. Nicely struck EDS with a nearly inverted reverse (struck head-to-head rather than head-to-foot) as often seen on this rare variety. The date is bold and the legends are strong except for some weakness at OF due to planchet chipping. Called CC#8 in the Bland and Noyes census lists, Noyes photo #31853. A nice mid-grade example of a rare variety than usually comes in very low grade.Certificate Number: 2038608-001Pedigree: Ex David Lynch (San Jose Coin Shop) 12/15/1993-Del Bland-Jack H. Robinson, Bowers & Merena 11/1994:2039 (not sold)-Jack H. Robinson-Douglas F. Bird-Colonel Steven K. Ellsworth 2008-Adam Mervis, Heritage Auctions 1/10/2014:2547-Fred H. Borcherdt Collection

1796 S-91 R3 Liberty Cap PCGS graded XF45Glossy olive brown and steel with frosty tan and lighter brown in protected areas and some reddish light brown at the neck, pole, and bust. The only marks are a faint scratch on the cap and the usual complement of small planchet chips on both sides, especially on the reverse opposite the head. E-MDS, Breen state II, with a barely visible raised horizontal line in the field left of the second-lowest curl. Otherwise the obverse fields are smooth, void of the similar die defects that are usually present on this variety. Graded VF25 net VF20 and tied for CC#14 in the Noyes census, his photo #25731. Our grade is VF25+.Certificate Number: 35780.45/57516983Pedigree: Ex George Ramont-Fred H. Borcherdt Collection

1796 S-92 R3 Draped Bust EF40Very attractive glossy chocolate brown with slightly darker steel brown toning on the highpoints and frosty golden tan in protected areas. Smooth and nearly flawless with light wear and great eye appeal. The only notable mark is a diagonal nick at the dentils above the second S in STATES. MDS, Breen state III, with die cracks and clashmarks but no cud break on the reverse. There is a clear double profile from the forehead down to the chin (from die bounce or "machine doubling"). Graded EF40 and tied for CC#10 in the Bland census. Noyes says EF45 net VF35 and tied for CC#10.Certificate Number: Pedigree: Ex Lester Merkin 9/10/1960-C. Douglas Smith 1970-R. S. "Robbie" Brown, Jr., Superior 1/30/1986:121 (as EF40)-Douglas F. Bird-Dennis Mendelson-Fred H. Borcherdt Collection

1796 S-92 R3 Draped Bust F15Partly glossy dark greenish olive brown with lighter reddish brown on the obverse devices. Very fine roughness covers most of the planchet and there is a dull but obvious dent at the top of the wreath. A scuff at the bottom of the obverse weakens the lower part of the date; otherwise the legends and devices are strong. Rare TDS, Breen state V, with a strong cud break at the end of the right wreath ribbon. Graded EF45 net VF25 and tied for CC#12 overall but CC#2 of the terminal die state in the Noyes census, his photo #36458. An important example of the die state with very little actual wear, and the Dr. French provenance is a plus, but the net grade assigned by Noyes appears overly optimistic to us.Certificate Number: Pedigree: Ex Dr. George P. French, B. Max Mehl 1929 FPL, lot 111-unknown-Thomas Wolf 6/1982-Fred H. Borcherdt Collection

1796 S-93 R3 Draped Bust F15+Choice glossy light to medium chocolate brown. Smooth and sharply struck with trivial marks and great eye appeal. A tiny planchet void or thin nick close to the truncation over the 9 is a good identifying mark, but you need a glass to see it. EDS, Breen state I, with an uncracked reverse. Graded F15 Choice and tied for CC#25 in the Noyes census, his photo #26161. A beautiful mid-grade cent, close to VF20.Certificate Number: Pedigree: Ex Denis W. Loring 11/1980-Fred H. Borcherdt Collection

1796 S-94 R5+ Draped Bust PCGS graded XF45Glossy medium brown and light chocolate with slightly darker steel brown toning on the highpoints. The surfaces are smooth, the devices are sharp, and the eye appeal of this cent is very nice. There are some contact marks on both sides; the only marks worthy of mention are a dull diagonal nick high on the neck and a dull horizontal nick close under the right side of the N in CENT. A sharp, very attractive example of this rare die variety. Graded VF30 and CC#2 in the Bland census. Noyes says EF45 net EF40 and CC#1. Our grade is VF35. This is the plate coin for the die variety in the 1991 Noyes reference on the cents of 1793-1814. A very important cent that comes with a very nice provenance.Certificate Number: 35843.45/57516984Pedigree: Ex 1957 ANA Sale (Federal Coin Exchange), lot 818-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner 4/23/1993-George E. Ewing, Jr.-Fred H. Borcherdt Collection

1796 S-95 R5+ Draped Bust PCGS graded AU50Glossy golden tan and light brown with steel brown toning on the highpoints. Sharp and attractive with mint frost in the protected areas on both sides, but there are some small contact marks. A pair of small but obvious dull rim nicks left of the lowest curl, a nick on the right top of the T in CENT, and a dozen very tiny rim nicks around the reverse (none significant but too many to ignore) are the notable marks. LDS, Breen state II, with die clashmarks at ERTY and to the right. Graded VF35 and CC#3 in the Bland census. Noyes says EF45 net VF35 and CC#3, his photo #32362. Our grade is VF35. Only 8 are known that grade better than VG making this a very difficult variety to get in a higher grade, and the majority are net graded to adjust for defects. Another great cent in this wonderful collection.Certificate Number: 35819.50/57516985Pedigree: Ex Stack's 12/1977:1250-Dr. C. R. Chambers-Dennis Mendelson 7/15/1991-R. S. "Robbie" Brown, Jr., Superior 1/27/1996:132-James R. McGuigan-Fred H. Borcherdt Collection

1796 S-96 R6 Draped Bust VG7Slightly glossy dark steel and olive with lighter steel brown toning on the devices. The planchet is covered with fine granularity but the date and legends are complete and clear. No verdigris but there are some contact marks including fine vertical scratches on the left side of the obverse and a couple dull dents in the field under the hair ribbon that caused a slight bulge in the wreath below ED. LDS, Breen state II, with a horizontal die crack that bisects the reverse from the T in UNITED to the M in AMERICA. The crack is complete and clear from end to end. Graded VG10 net VG7 and tied for CC#7 in Bland census. Noyes says F12 net VG7 and tied for CC#9 overall but third finest of the late die state, his photo #24281.Certificate Number: Pedigree: Ex Charles Hixson (who began assembling his collection in the 1800's)-Eli Hixson (who added to the collection) circa 1932-Sue A. Eppler-Keith A. Eppler (her son) 1986 (unattributed)-Panda Coin Exchange (Dennis Pacheco)-Robert E. Vail 11/21/1988-Del N. Bland-Dr. Philip W. Ralls-Denis W. Loring-Walter H. Reed 2003-Colonel Steven K. Ellsworth, Heritage Auctions 9/2013:4607 (pass)-2014 EAC Sale, McCawley & Grellman Auctions 5/3/2014:105-Fred H. Borcherdt Collection

1796 S-97 R3 Draped Bust EF40Mostly glossy dark olive brown and steel. Sharply struck with just a light touch of friction on the highpoints, but the planchet is covered with microscopic granularity. Otherwise essentially flawless. A tiny tick over the T in CENT is the best identifying mark. LDS, Breen state V, with a strong cud break connecting TY to the rim. Graded EF40 and CC#3 in the Bland census. Noyes says AU50 net EF40 and CC#3, his photo #25561. This is the finest known example with the cud break outside the ANS.Certificate Number: Pedigree: Ex Harry DeVore-Russell Wyatt, Superior 9/1985:240-Charles E. Harrison-Fred H. Borcherdt Collection

1796 S-98 R4 Draped Bust VF25+Glossy light to medium steel brown with darker steel brown and olive on the highpoints and frosty lighter brown and tan in protected areas. The toning is attractive and looks original, but this cent may have been lightly cleaned and retoned naturally over the decades. Lightly worn with no corrosion or verdigris, but there are numerous tiny planchet chips on both sides, mostly on the cheek and the opposing area at the T in CENT into the wreath below (as struck). The best identifying defect is a relatively large planchet void or chip in the field below the lower end of the hair ribbon. MDS, Breen state II, with a small die flaw at the right top of the Y and die clashmarks on both sides.. Graded EF40 net VF25 and tied for CC#9 in the Bland census. Noyes says VF35 net VF25 and tied for CC#6, his photo #26164.Certificate Number: Pedigree: Ex Hollinbeck Kagin Coin Co.-Abe Kosoff 10/11/1961:113-Hollinbeck Kagin Coin Co., 1964 ANA Sale (Federal Brand Enterprises), lot 54-Hollinbeck Kagin Coin Co. (privately)-Denis W. Loring 5/1981-Thomas D. Reynolds-Fred H. Borcherdt Collection

1796 S-99 R5 Draped Bust G6Glossy light olive brown and chocolate with some darker olive brown in protected areas. Smooth with minor marks, just worn. The date is clear and the legends are easily readable. A dull nick over the E in CENT is the only notable mark. EDS, Breen state I, with an uncracked obverse. Graded VG7 and tied for CC#21 in the Noyes census, his photo #25766.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1796 S-100 R5 Draped Bust VF30+Glossy light to medium brown with steel brown toning on the highpoints and a few puffs of reddish brown on the reverse. Traces of mint frost show in some of the protected areas. Smooth and very lightly worn, but there are some contact marks including some faint hairline scratches in the obverse fields and a couple rim nicks at ST in STATES. Only the rim nicks are visible to the unaided eye. E-MDS, Breen state II, with die clashmarks on both sides and a very fine crack at TA in STATES. Graded VF30 and CC#4 in the Bland census. Noyes says EF40 net VF30 and CC#4, his photo #26923.Certificate Number: Pedigree: Ex Charles M. Williams, Numismatic Gallery 11/1950:105-Willard C. Blaisdell 2/1975-Denis W. Loring 3/5/1977-Myles Z. Gerson 10/1980-Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1796 S-101 R5- Draped Bust EF40Choice glossy chocolate brown with frosty lighter brown and tan in protected areas. Smooth with light wear on the devices and great eye appeal. The only notable mark, and it takes a good glass and the right light angle to see, is a very light scratch along the profile from the forehead down to the bust. M-LDS, Breen state III early, with very light die cracks on both sides. Graded EF40 and tied for CC#2 in the Bland census. Noyes says VF35 and CC#3, his photo #26093.Certificate Number: Pedigree: Ex W. E. Johnson 1/1971-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:419-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-William R. T. Smith 1/1975-Myles Z. Gerson-Denis W. Loring 11/1980-Fred H. Borcherdt Collection

1796 S-102 R4 Draped Bust VF35Glossy medium olive with frosty lighter brown in protected areas. Sharp and smooth with very light wear on the devices and excellent eye appeal. The notable marks are a spot of darker reddish olive brown toning over the hair ribbon, a very light rim bruise over AT in STATES, and a few small puffs of reddish brown toning on the reverse. LDS, Breen state II early, with a die crack through BE and the hair into the field before the face where it fades out before reaching the rim. Graded VF35 and CC#4 in the Bland census. Noyes says EF40 net VF35 and CC#3, his photo #27274. The obverse of this cent is plated in Dr. Sheldon's Early American Cents.Certificate Number: Pedigree: Ex Dr. William H. Sheldon-Dorothy I. Paschal-Henry T. Hettger 1990-Fred H. Borcherdt Collection

1796 S-103 R4+ LIHERTY Obverse VG10Mostly glossy chocolate and olive brown. Both sides are covered with tiny planchet chips and small nicks, and the reverse has a few small patches of corrosion. A pit or significant planchet chip at the O in OF is a good identifying mark. The obverse is considerably nicer than the reverse. EDS, Breen state I, with a light die crack at AMERI. The date and legends are complete and strong, and the LIHERTY error is bold. Comes with a very nice provenance.Certificate Number: Pedigree: Ex Dr. George P. French-Howard R. Newcomb-Dr. Charles L. Ruby, Superior 2/10/1975:97 (as F15)-Myles Z. Gerson 6/1983-Fred H. Borcherdt Collection

1796 S-104 R3 LIHERTY Obverse VF25Very attractive glossy medium olive and light chocolate. Sharply struck with smooth surfaces and minor contact marks including a couple light scratches let of the L in LIBERTY and a couple lighter ones in the field left of the lower curls. None of the marks catches your eye. M-LDS, Breen state III, with fine die rust evident in some of the protected areas and a fine die crack connecting the tops of the T & Y in LIBERTY. Graded VF25 and tied for CC#5 in the Bland census. Noyes says VF30 net VF20 and tied for CC#6, his photo #22089. The LIHERTY error is quite bold. A nice example of this popular "Redbook" variety.Certificate Number: Pedigree: Ex Dr. T. Henry Allen, Stack's 2/1977:111-James R. McGuigan-Dr. Robert J. Shalowitz 5/1981-Dr. C. R. Chambers-Dennis Mendelson-Fred H. Borcherdt Collection

1796 S-104 R3 LIHERTY Obverse VG7Mostly glossy medium brown with chocolate brown in protected areas. The highpoints are smooth but a glass reveals very light roughness in the fields and protected areas. No verdigris; the only notable mark is a shallow planchet lamination in the field off the chin. The date is strong and the legends are clear. LDS but not the latest, Breen state IV early, with a raised retained cud break at TY. This is the discovery coin for the die state, one that was unknown to Breen. It is the only example of this intermediate die state known to us.Certificate Number: Pedigree: Ex Robert S. Carter, Jr. 1970-Del N. Bland-H. Jablonski 2002-Tom Keenan 2002-John Muller 2006-Tom Keenan-Bill Gape, 2018 EAC Sale, lot 169-Fred H. Borcherdt Collection

1796 S-105 R5- Draped Bust, Repunched 6, PCGS graded MS62+ BrownLustrous light to medium brown with slightly darker steel brown toning on the highest points of the devices. The surfaces are satiny and this cent has superior eye appeal. Very sharply struck with only microscopic marks. A light diagonal nick at the hair left of the eyebrow and a shallow planchet void on the edge over the U in UNITED are the only notable defects. MDS, Breen state III, with a curved die line over the Y and sharp die clashmarks on both sides. The repunching on the 6 is bold. Graded MS60 and finest known by 25 points in the Bland census, but his grade was tentative because he had not seen the coin in hand. Noyes says AU55 Choice and finest known by 40 points. Our grade is MS62. Ted Naftzger graded this cent MS65 and assessed it's significance on his envelope as "FK by a California Mile." That statement most certainly is not in doubt. This is the plate coin for the variety in Early American Cents, Penny Whimsy, the Gilbert Elder reference on the cents of 1796, and in the 1991 Noyes reference. One of the highlights of this great collection, and one of Fred's favorite cents.Certificate Number: 35852.62+/57516986Pedigree: Discovered in England by Henry C. Miller, Thomas L. Elder 4/13/1917:737a (as UNC)-Henry C. Hines 1945-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection (includes the Naftzger collection envelope)

1796 S-106 R4+ Draped Bust PCGS graded MS63 BrownLooks choice mint state but there is a hint of friction on the highpoints, and this cent appears to have been dipped long ago. Nicely retoned frosty steel brown and olive with traces of mellowed red in protected areas on the obverse. No spots or stains, and the only marks are some tiny planchet flakes near the rim under the date and bust plus a single flake or dull nick just right of the E in ONE. MDS, Breen state III, with a fine bisecting crack across the obverse and die clashmarks on the reverse. Graded AU50 and tied for CC#3 in the Bland census. Noyes says AU55 net EF40 and CC#4, his photo #25163. Our grade is net EF45+. A very impressive cent that comes with a superior provenance.Certificate Number: 35789.63/57516987Pedigree: Ex Dr. George P. French, B. Max Mehl 1929 FPL, lot 132 (as UNC)-T. James Clarke-Dr. William H. Sheldon 9/1959-C. Douglas Smith-Dr. William H. Sheldon 1960-Dorothy I. Paschal-Dr. Robert J. Shalowitz-Dr. Jesse Borden-Dr. Robert J. Shalowitz 5/2/1981-R. E. "Ted" Naftzger, Jr. 12/11/1986-Herman Halpern, Stack's 3/16/1988:122 (as AU55)-Charles E. Harrison-Fred H. Borcherdt Collection

1796 S-107 R5 Draped Bust G4Slightly sharper, especially where the details were properly struck, but the planchet is covered with fine roughness under mostly glossy olive brown and chocolate toning. Just minor marks and shallow waxy verdigris. The strike is uneven, as usual, with significant weakness at the top of the reverse leaving STATES faint at best while everything else is easily readable. Rare LDS, Breen state II, with a fully formed cud break at the Y extending to the right. Only 8 of this die state are known to us with an additional piece that shows a retained cud in this area.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1796 S-108 R4 Draped Bust VF25Glossy light olive brown and chocolate with lighter brown in the fields and protected areas. Smooth with light wear and great eye appeal. The only notable marks are a faint hairline scratch in the field before the neck and some ticks on the M in AMERICA, and they are easily missed. Sharply struck E-MDS, Breen state II, with strong die clashmarks but no cracks. Graded VF25 and tied for CC#8 in the Bland census. Noyes says VF20 net F15 and tied for CC#12, his photo #25634.Certificate Number: Pedigree: Ex 1973 ANA Sale (Jess Peters), lot 1561-Dr. Robert J. Shalowitz 5/1974-Denis W. Loring-Dr. Robert J. Shalowitz-Jerry A. Bobbe-Myles Z. Gerson 10/1980-Fred H. Borcherdt Collection

1796 S-109 R3 Draped Bust VF20Mostly glossy dark olive brown with lighter brown in protected areas. The toning is uneven and both sides are covered with tiny contact marks including a fine diagonal scratch through EN in CENT. In addition there are traces of roughness and verdigris on the upper part of the reverse; the rest of the planchet is free of corrosion. E-MDS, Breen state II, with the right end of the wreath ribbon disconnected from the knot. Graded EF40 net VF20 and tied for CC#7 in the Noyes census, his photo #25755. A sharp cent with just a light touch of wear, but is has far too many marks for this level of detail.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1796 S-109 R3 Draped Bust, Reverse of 1794 PCGS graded AU55+, CAC ApprovedVery attractive frosty steel brown and with tan and light steel brown covering the protected areas on both sides. Smooth and flawless except for a few trivial contact marks. The notable marks are a pair of dull rim nicks at the L in LIBERTY, a faint hairline scratch close over the hair ribbon, and a nick very close before the nose even with the bottom of the eye. M-LDS, Breen state IV late. A strong radial die crack reaches from the rim down through the upright of the T in LIBERTY and fades into the hair below the ear. The earlier die crack from the lowest curl passes through the top of the date before meandering through the bust and passing to the rim off the bust tip. This is a very attractive cent with a sharp, even strike. Graded AU50 net EF45 and CC#1 in the Noyes census, his photo #59088. Not seen by Bland. Our grade is AU50 net EF45 as well. The second finest is graded VF30 and it is impounded in the ANS Collection, so this one really stands out. A prize for an advanced collection.Certificate Number: 35798.55+/32782907Pedigree: Ex Virgil M. Brand-Brand Estate-Byron G. Johnson (St Louis Stamp & Coin) 1941-Joe Kelly-Staples (Hogan Pond Collection), American Numismatic Rarities 3/9/2005:1129-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:83-Fred H. Borcherdt Collection

1796 S-110 R3 Draped Bust VF35Glossy dark olive brown and steel. Sharp and very attractive with only minor marks, but the toning is darker than you expect for a cent with this level of detail. There are traces of shallow verdigris in protected areas, mostly on the reverse, and the only notable marks are a light diagonal nick close below the hair ribbon and a rim tick at the D in UNITED. M-LDS, Breen state VII, with die cracks but no cud break. Graded EF40 and tied for CC#6 in the Bland census. Noyes says AU50 net VF25 and tied for CC#10.Certificate Number: Pedigree: Ex Rodney T. Grove-Robert Nofal and Lewis Kling, Auction '81 (Superior), lot 513-Dennis Irving Long-Denis W. Loring-Dennis Mendelson-Charles E. Harrison-James R. McGuigan 7/26/2000-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection (includes the Reinoehl collection envelope)

1796 S-111 R5- Draped Bust VF30Glossy medium brown and light chocolate with darker steel brown toning on the highpoints and lighter brown in protected areas. Lightly worn with very nice eye appeal, but there are some small planchet chips and light contact marks on both sides. A fine, light diagonal scratch on the cheek to the jaw and a diagonal nick close above the bust tip are good identifying marks. Most of the tiny planchet chips are inside the wreath, especially at NE in ONE. LDS, Breen state VI, with several die cracks on the obverse. Graded VF35 net VF30 and tied for CC#2 honors in the Noyes census, his photo #32196. A great example of this tough die variety; the latest die state seen.Certificate Number: Pedigree: Ex Douglas F. Bird-Fred H. Borcherdt Collection

1796 S-112 R4+ Draped Bust VF30Choice glossy medium brown and light chocolate with slightly darker steel brown on the highpoints. Lightly worn with smooth surfaces, and the best identifying marks are two microscopic ticks under the front edge of the eye. Traces of mint frost show in protected areas and this cent has superior eye appeal. M-LDS, Breen state III early, with a die crack through the right base of the second T in STATES to the wreath and minor swelling inside the wreath. Graded VF30 and tied for CC#7 in the Bland census. Noyes says VF30 Choice and tied for CC#6, his photo #25997.Certificate Number: Pedigree: Ex Robert E. Matthews (acquired unattributed at the 1987 ANA Convention), Superior 5/28/1989:257-J. R. Frankenfield-Fred H. Borcherdt Collection

1796 S-113 R5 Draped Bust VG10Glossy chocolate brown and steel. Mostly smooth but there are areas of microscopic roughness in the obverse fields plus a significant planchet void at the top of the wreath. No verdigris or notable contact marks. LDS, Breen state V, with a strong die crack through 17 and the lowest curl, and the area under the 7 is starting to rise. Not perfect but still superior to the Breen plate coin that illustrates this final die state. Graded VF20 net F12 and tied for CC#6 in the Noyes census, his photo #26132.Certificate Number: Pedigree: Ex William R. T. Smith-Fred H. Borcherdt Collection

1796 S-114 R5- Draped Bust VF35Glossy light brown with darker steel brown toning on the highpoints. This cent was lightly cleaned and has retoned nicely. Smooth with very light wear on the devices and trivial marks including a speck of darker toning in the field below the L in LIBERTY and two very light nicks left of the upper end of the hair ribbon. Nicely struck EDS, Breen state I, with an uncracked obverse and hard, slightly reflective fields on that side. Graded EF45 net VF35 and CC#3 in the Bland census. Noyes says EF45 net VF30 and CC#3, his photo #24084. One of the two finer pieces resides in the ANS Collection, so there isn't much room for improvement on this variety.Certificate Number: Pedigree: Ex J. V. McDermott 1959-Emanuel Taylor 10/1960-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:429-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:153-Dr. Philip W. Ralls-Fred H. Borcherdt Collection

1796 S-114 R5- Draped Bust VG10Slightly glossy olive brown and steel with lighter brown and chocolate on the devices. Sharply detailed, particularly on the obverse, but the surfaces are covered with fine granularity mixed with small pits. A glass reveals hairline scratches covering much of the obverse with a few more on the reverse. A larger pit at the left top of the A in STATES is a good identifying mark. LDS, Breen state IV, with two rim cuds on the obverse, and both are quite bold. Graded VG10 net G5 in the Noyes census, his photo #29618. The obverse of this cent is plated in Penny Whimsy.Certificate Number: Pedigree: Ex Mayflower Coin Auctions 3/1957:1640-Dorothy I. Paschal-Raymond Chatham-Fred H. Borcherdt Collection

1796 S-115 R3 Draped Bust VF35Glossy steel brown and chocolate with frosty lighter brown and tan in protected areas on the obverse and reddish light chocolate in protected areas on the reverse. Sharply struck with great eye appeal and trivial marks including a collection of tiny ticks at the lower end of the hair ribbon and a small carbon spot in the field close to the throat. MDS, Breen state V, with a strong die crack arcing through the date and small rim cud breaks on both sides. The shoulder and field under the hair ribbon are swollen. Struck with the reverse rotated 30 degrees CCW relative to the normal head-to-foot die orientation. A beautiful cent is a neat die state. Graded VF25 and tied for CC#4 in the Bland census. Noyes says EF45 net VF35 and CC#2 behind only the ANS example, his photo #26422.Certificate Number: Pedigree: Ex Gimbel's Coin Department (Robert Friedberg, New York City)-Dr. Frank Bryant 2/1987-Jack H. Beymer-Dr. Robert J. Shalowitz-Fred H. Borcherdt Collection

1796 S-115 R3 Draped Bust VG8Partly glossy medium olive brown with lighter brown on the devices. There is fine roughness in the fields and protected areas but no verdigris. The only notable mark is a dull, very old scratch in the field close to the end of the nose and chin. M-LDS, Breen state VII, with a raised retained cud break at TY, one of only 7 known to us in this die state.Certificate Number: Pedigree: Ex LB (Larry Briggs?) 1982-Fred H. Borcherdt Collection

1796 S-115 R3 Draped Bust G4Glossy steel brown and light chocolate. Very smooth, just heavily worn. The only mark is a light rim bruise at the lowest curl. M-LDS, Breen state VIII, with a bold cud break at TY, one of 6 known to us in this die state.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1796 S-115 R3 Draped Bust G5Partly glossy olive brown and steel with lighter brown toning on the devices. There is fine roughness in the fields and protected areas but no verdigris. Two digs at the bottom of the neck are the only notable marks. LDS, Breen state IX, with a full cud break at TY and a raised retained cud break at ER. Only 5 are known to us in this die state.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1796 S-116 R5- Draped Bust PCGS graded AU53Choice glossy medium brown and light chocolate with frosty lighter brown in some of the protected areas. Smooth and beautiful with light wear and superior eye appeal. No spots or stains, just trivial contact marks, mostly on the neck into the field. A thin, light diagonal nick below the left end of the wreath stem is a good identifying mark. LDS, Breen state II, with clear die clashmarks on both sides. Graded VF35 and tied for CC#1 honors in the Bland census, but his grade was a tentative placeholder until he actually had an opportunity to see the coin. Noyes did see it and graded is EF45 and CC#1 ahead of the ANS coin, his photo #28276. Our grade is EF40. Nothing else comes close. This is the plate coin for the variety in the 1991 Noyes reference. Another prize for the collector of 1796 cents.Certificate Number: 35834.53/57516988Pedigree: Ex Robert E. Matthews (Matthews Money Tree Co.) 5/1990-Dr. Robert J. Shalowitz-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection (includes the Shalowitz-Naftzger collection envelope)

1796 S-117 R5+ Draped Bust PCGS graded MS61 BrownVery attractive glossy medium chocolate brown with lighter brown in protected areas. Mint frost covers the protected areas and this cent has superior eye appeal. The only significant mark is a light horizontal scratch across the neck. The scratch is old and is lost in the beautiful toning so it does not catch your eye. Otherwise the only other mark is a nick in the hair below the T. MDS, Breen state IV, with a light die crack through RTY to the dentils at either end. Graded EF40 and CC#2 in the Bland census. Noyes says EF45 and CC#1, his photo #25259. Our grade is EF40+, close to EF45. This is a fabulous example of a rare variety with only 3 examples graded above Fine by EAC standards. This is the plate coin for the variety in Breen's 2000 encyclopedia.Certificate Number: 35864.61/57516989Pedigree: Ex George Roebling, New Netherlands Coin Co 6/13/1967:1207-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:432-Willard C. Blaisdell 11/1974-Denis W. Loring 3/1977-Myles Z. Gerson-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:159-Charles E. Harrison-Fred H. Borcherdt Collection

1796 S-117 R5+ Draped Bust G6Partly glossy olive brown and steel with lighter brown toning on the devices on the reverse. Light roughness is scattered over both sides and there are several small patches of corrosion with greenish verdigris on the reverse. Not an attractive cent but the date is bold and the legends are clear. The die state is what makes this cent special. M-LDS, Breen state V, with a bold die crack through RTY and a strong cud break at that Y. This is the only example of the die state known to us. Graded VG8 net G5 by Noyes, his photo #32292.Certificate Number: Pedigree: Ex Joseph Kuehnert-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:160-Jack H. Robinson, Superior 1/29/1989:218-Fred H. Borcherdt Collection

1796 S-118 R5+ Draped Bust VF20+Glossy light olive and medium brown. Smooth and attractive with light wear, but there are some marks. A short, light scratch near the dentils above the bust, a rim bruise left of the lower curls, and a dig at the left end of the wreath ribbon are the only notable defects. LDS, Breen state II, with a clearly defined rim cud left of the denominator. Graded VF30 net VF20 and tied for CC#3 in the Bland census. Noyes says VF30 net VF20 and CC#3, his photo #25369. An important example of a very tough die variety.Certificate Number: Pedigree: Ex John P. Young, M. H. Bolender 9/8/1951:70-Willard C. Blaisdell 9/1977-Denis W. Loring 2/1978-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:163-Charles E. Harrison-Fred H. Borcherdt Collection

1796 S-119 R3 Draped Bust EF45Glossy light olive and steel brown with a swipe of lighter reddish tan through BERT. Slightly sharper with very light friction on the devices, but there is a dull diagonal scratch in the hair left of the shoulder. Nicely struck E-MDS, Breen state II, with fine die cracks on the obverse but no rim cuds on the reverse. Graded AU55 net AU50 by Noyes, his photo #29055. Our grade is EF45.Certificate Number: 35870.58/57516990Pedigree: From the Fred H. Borcherdt Collection

1796 NC-1 R6- Draped Bust VG8+Glossy dark olive brown with slightly lighter steel brown on the devices. The surfaces appear smooth but there are traces of very shallow verdigris in protected areas. The only mark is a rim nick at the second S in STATES. The eye appeal of this cent is quite nice in spite of the dark toning. EDS, Breen state I, before any die cracks. Graded VG8 and tied for CC#4 in the Bland census. Noyes says F12 net VG7 and tied for CC#7, his photo #25799. About 25 examples are known of this variety, the finest grading VF25 while most are in very low grade.Certificate Number: Pedigree: Ex Raymond Chatham 8/1958-Abe Kosoff-Herman Engelhardt (Montrose Coin Gallery) 8/1959-Admiral Worthington S. Bitler 8/1960-Abe Kosoff-Dr. Hiram T. Ward 3/1979-Fred H. Borcherdt Collection

1796 NC-3 R6- Draped Bust AG3Chocolate and olive brown with hints of reddish chocolate on the reverse. Slightly glossy but the surfaces are covered with fine to moderate roughness with traces of verdigris in some of the protected areas. The notable marks are a rim bruise at the L in LIBERTY and some light vertical scratches lost in the toning at the bust. Not very attractive but the date and legends are easily readable. EDS. Graded AG3 by Del Bland. Noyes says VG7 net Fair-2, his photo #26201. About two dozen are known of this variety with only two grading better than net VG8 in the Noyes census..Certificate Number: Pedigree: Ex Hance Jaquett 11/1982 (unattributed)-Fred H. Borcherdt Collection

1796 NC-4 R5+ Draped Bust G5Olive brown and steel with lighter steel brown toning covering the devices. The surfaces are covered with fine to moderate granularity. No marks or verdigris. The date and legends are complete and easily readable, but they are not strong. EDS, Breen state I, without any die cracks on the reverse. Graded net G5 by Del Bland. Noyes says VG7 net G4, his photo #25782. About three dozen are known; most are in low grade with only one piece grading better than net VG.Certificate Number: Pedigree: Ex Raymond Kelly, Kagin's 10/19/1979:939-Denis W. Loring 1/1980-Fred H. Borcherdt Collection (includes the Kagin's lot ticket)

1797 S-120a R3 Reverse of 1796, Plain Edge VG10Glossy medium olive brown with lighter steel brown toning n the devices. Mostly smooth with nice eye appeal for the grade. There are traces of shallow dirt or verdigris in some protected areas and a few small rim nicks at ATES OF AM. The date and legends are strong. MDS, Breen state III, with some crumbling on the profile and swelling at UNIT.Certificate Number: Pedigree: Ex Larry Briggs 1982-Fred H. Borcherdt Collection

1797 S-120b R2 Reverse of 1796, Gripped Edge VF35Glossy medium brown and light chocolate with lighter brown in protected areas. The surfaces are smooth and the only notable marks are a faint vertical hairline scratch from the forehead to the shoulder and some more near the rim over the bust. The best identifying mark is a tiny spot of darker toning in the field before the mouth. TDS, Breen state VI, with crumbling along the profile from the forehead down to the throat and a fine die crack through the lowest curl to the rim off the lower end of the hair ribbon. The "Grip" marks on the edge are strong. Graded EF45 net EF40 and CC#9 in the Noyes census, his photo #26540. Comes with a nice provenance.Certificate Number: Pedigree: Ex Garrett Collection-Johns Hopkins University, Bowers & Ruddy 11/28/1979:84 (as EF45)-J. Christensen, Superior 2/1982:250 (as AU50)-Woods, Superior 9/29/1986:3053 (as AU50)-James R. McGuigan-Fred H. Borcherdt Collection

1797 S-121a R6+ Reverse of 1796, Plain Edge Fair-2Glossy chocolate brown and steel with lighter brown toning around LIBERTY. Smooth with a few marks, just well worn. A small rim bruise under the end of the bust and a curved indent line at RIC are the notable marks. The obverse is sharper than the reverse, as usual with this die pair, perhaps a 3/1 split. LDS, Breen state V, with die cracks and swelling. The edge is plain, void of any trace of the series of lumps and grip indents associated with the "Griped Edge" planchets. The Plain Edge version of the S-121 die pair is unknown in high grade; the finest known to us grades net VG7, and it has significant surface impairmentsCertificate Number: Pedigree: Ex John Cloutier-Fred H. Borcherdt Collection

1797 S-121b R3- Reverse of 1796, Gripped Edge VF20At least 5 points sharper but there are a couple small rim bruises on otherwise smooth surfaces. The rim bruises are left of the L in LIBERTY and over the F in OF. Glossy olive brown and dark steel mixed with some lighter brown tones. LDS, Breen state V. with die cracks on the obverse, die clashmarks on the reverse, and swelling at NITE that weakens those letters. The Grip Marks on the edge are clear.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 S-122 R5+ AG3Slightly sharper but dark and covered with fine roughness, strongest on the reverse. There is a bit of hard verdigris on the reverse and a couple notable marks including a small rim bruise at the B in LIBERTY, another at the O in OF, and a horizontal nick in the leaves under the M in AMERICA. Terminal die state, Breen state VI, with a very bold cud connecting MERIC to the rim. Only three are known in this die state, and (surprisingly) this is the finest of that small group. One of the rarest and most impressive cuds in the entire Sheldon series.Certificate Number: Pedigree: Discovered unattributed in Florida by James L. Corrado (in trade)-Fred H. Borcherdt Collection

1797 S-123 R4 EF40Glossy light to medium olive with frosty tan and faded mint color in protected areas on both sides, probably a result of a light cleaning long ago. There is very little actual wear on the devices, but small planchet flakes and nicks are scattered over the obverse. M-LDS, Breen state III, with crumbling in the dentils over the A in STATES. An attractive mid-to-high grade example of this Nichols Hoard variety, one that is usually found in mint state or low grade.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 S-124 R5+ F15+At least 5 points sharper but a glass reveals extremely fine roughness under the glossy dark olive brown and steel toning. The roughness is most noticeable at the top and bottom of the reverse, but it is not strong and there is no verdigris. A small chip or nick in the field before the neck is the only notable mark. M-LDS, Breen state V, with obvious die clashmarks on the obverse and a bulge at the 97 through the bust. Graded VF35 net VF20 and CC#1 in the Bland census. Noyes says VF30 net F12 and tied for CC#2. This cent is clearly superior to the Breen plate coin, and it is graded F15. Either way this is an important example of a tough die variety.Certificate Number: Pedigree: Acquired unattributed in 7/1984 by Thomas E. Werner 8/1984-Fred H. Borcherdt Collection

1797 S-125 R5 PCGS graded XF40, CAC ApprovedFrosty medium steel brown blending to light reddish chocolate brown in protected areas. Smooth and quite attractive, especially for this tough die variety. The only defects are some microscopic pre-striking planchet chips, mostly in the field behind the head and around the wreath ribbon, and a pair of tiny diagonal ticks over the N in ONE. MDS, Breen state II, with obvious die clashmarks and bulges on the obverse. Graded VF20 and CC#2 in the Noyes census, his photo #21448. Bland never saw this cent but listed it in his census at a tentative grade of VF20. Our grade is VF25. The finest in either census grades VF25, and this piece looks every bit as nice in a photo comparison. A premium example of a variety that almost never comes in decent grades. And it has a nice provenance.Certificate Number: 35915.40/32982284Pedigree: Ex Hollinbeck Kagin Coin Co. 3/1956-R. E. "Ted" Naftzger, Jr. (via William C. Noyes) 8/2003-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:100-Fred H. Borcherdt Collection

1797 S-125 R5 VG10At least 5 points sharper but there is verdigris in protected areas, strongest at ERT in LIBERTY and ME in AMERICA. The surfaces are a bit dull thanks to microscopic roughness. Slightly glossy mix of olive brown and reddish chocolate. LDS, Breen state III, with strong swelling and die clashmarks on the obverse. Graded VF25 net VG8 and tied for CC#16 in the Noyes census, his photo #26472. This is the Noyes plate coin for the late die state in his 1991 reference.Certificate Number: Pedigree: Gordon J. Wrubel 7/1980-Fred H. Borcherdt Collection

1797 S-126 R3 VF25Sharpness EF45 but there is fine to moderate roughness on the reverse while the obverse is smooth and sharp with great eye appeal. No verdigris and the only notable mark is a small rim dent at the O in OF. Mostly glossy light to medium brown mixed with olive brown on the reverse. MDS, Breen state V early, with a strong die crack from the rim to the throat ending in the hair. Graded EF45 net VF20 and tied for CC#21 in the Noyes census, his photo #26479.Certificate Number: Pedigree: Ex Thomas Wolf 7/1980-Fred H. Borcherdt Collection

1797 S-126 R3 VG10Sharper by at least 5 points but the surfaces have been lightly smoothed and nicely retoned glossy brown and light olive with darker olive brown in protected areas. The only notable mark is a small nick in the dentils at the C in AMERICA. Very rare LDS, Breen state VII, with a bisecting die crack across the obverse. Graded F15 net VG8 by Noyes and third finest of those known in the late die state, his photo #26541.Certificate Number: Pedigree: Ex Superior 5/28/1989:276-Fred H. Borcherdt Collection

1797 S-127 R4 PCGS graded AU50Attractive glossy chocolate brown and steel with frost in protected areas. Sharpness EF40 but there are some marks including a light scratch in the field over the bust and some small planchet chips, mostly on the portrait and inside the wreath. A small but noticeable chip above the upper end of the hair ribbon is a good identifying mark. MDS, Breen state IV early. The die crack at AT is clear (a die line in out opinion, not a crack), but the other cracks of state IV are not present. Graded VF35 net VF25 and tied for CC#3 in the Bland census. Noyes says EF40 net VF30 and tied for CC#1. Our grade is EF40 sharpness net VF30.Certificate Number: 35921.50/61275933Pedigree: Ex Stack's (privately) -Dr. Hiram T. Ward 1978-Fred H. Borcherdt Collection

1797 S-127 R4 VG8Slightly sharper with minor roughness under mostly glossy medium brown toning that blends to olive brown in protected areas. No verdigris and the only notable marks are a small planchet chip in the hair left of the brow and some barely visible hairline scratches on the portrait. LDS, Breen state VI, with swelling and die cracks on the obverse. The date and legends are strong. Graded VG10 net VG8 and tied for CC#24 in the Noyes census, his photo #36892.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 S-128 R3 M over E in AMERICA, PCGS AU Detail, ScratchRather glossy medium brown and chocolate with some frost in protected areas. Sharp with smooth surfaces and light friction on the devices, but there are a few marks. The notable marks are a light horizontal nick in the field before the upper lip, another under the chin, and a sharper diagonal one at the right bottom of the O in ONE. We can not find a "Scratch." TDS, Breen state IX, with all the die cracks described by Breen. The M over E feature is bold. Graded EF40 net VF35 and tied for CC#11 in the Noyes census, his photo #26929. Our grade is EF40.Certificate Number: 35924.95/52084636Pedigree: From the Fred H. Borcherdt Collection

1797 S-129 R5 M over E in AMERICA VG8Sharpness VF20 with smooth surfaces but too many contact marks, mostly on the reverse. The most significant mark is a dull chip or dig in the hair left of the neck, and there are at least a dozen small rim nicks on the reverse. LDS, Breen state II, with faint die cracks from the dentils left of the upper edge of the hair ribbon. Graded F15 net VG8 and tied for CC#10 in the Bland census. Noyes says VF20 net VG8 and tied for CC#10, his photo #25664. The date and legends are clear and the M over E error is strong.Certificate Number: Pedigree: Acquired unattributed 9/1987 by Leigh Bernard-Jack H. Beymer-C. Douglas Smith-Jack H. Robinson-Chris McCawley-Fred H. Borcherdt Collection

1797 S-130 R2 VF25Sharpness EF40 but lightly burnished and nicely retoned long ago, now toned glossy brown and light olive. The only notable mark is a small chip in the field off the chin. M-LDS, Breen state IV late, with die cracks on the obverse and clashmarks on the reverse, but the small chip at the tip of the nose has not formed. Graded EF40 net VF20 and tied for CC#30 in the Noyes census, his photo #29201.Certificate Number: Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1797 S-131 R2 Stemless Wreath PCGS graded AU55Frosty steel and olive brown with traces of lighter golden tan faded down from mint color in protected areas on the reverse. Mint luster shows in the protected areas on both sides and this cent has excellent eye appeal. No spots or stains, only light friction on the devices and trivial contact marks on smooth surfaces. The notable marks are some nicks at the eyebrow and a thin nick on the cheek near the earlobe. E-MDS, Breen state II. There is a small chip hanging down from the end of the nose but no crack into the field from the lower curls. The nearly vertical crack in the field before the portrait is clear. Struck with the obverse slightly misaligned to K-3. Noyes photo #60627. Not seen by Bland. Our grade is EF40; among the top 3 or four examples of the variety in our opinion. A very nice example of the Stemless Wreath type.Certificate Number: 35981.55/32782913Pedigree: Ex Ramon Molina, Noguera, Barcelona Spain-Shawn Yancey 2/2008-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:105-Fred H. Borcherdt Collection

1797 S-132 R5+ Stemless Wreath PCGS graded AU53At least ten points sharper but recolored glossy olive brown and steel with reddish steel brown in protected areas and traces of lighter golden tan on the lower part of the reverse. The surfaces are smooth and the only marks are a dull nick on the bust, another near the curl on the neck, and minor rim bruises at the first A in AMERICA and under the right side of the fraction. None of the marks is distracting and this cent has nice eye appeal in spite of the retoning and few marks. LDS, Breen state II. The horizontal wave in the field before the throat is clear. Graded VF35 net F15 and tied for CC#4 in the Noyes census, his photo #62355. Not seen by Bland. Our grade is VF30+ sharpness net VF20.Certificate Number: 35984.53/52084631Pedigree: Ex Stack's 11/2010:4018 (as XF Cleaned)-Fred H. Borcherdt Collection

1797 S-133 R5 Stemless Wreath PCGS graded XF45, CAC ApprovedVery attractive glossy light olive brown and chocolate. Smooth with light wear on the devices and just a few minor contact marks. A dull rim nick over the left top of the T in LIBERTY and a very fine scratch through BE are the only notable defects, and they are not at all distracting. E-MDS, Breen state II, with strong die clashmarks on the obverse and a light die crack through ATE in STATES. This is the Noyes plate coin for the die variety in his 1991 reference on the early cents, and both sides are also plated in Dr. Sheldon's Early American Cents and Penny Whimsy. Graded VF30 and CC#2 behind an ANS Museum specimen in the Noyes census, his photo #21311. Bland says VF25 and tied for CC#3 behind two examples in the ANS. Our grade is VF30. Another superior example of a variety that is so difficult to find in high grade.Certificate Number: 35987.45/32782920Pedigree: Ex John Story Jenks, Henry Chapman 12/16/1921:6125 (there attributed as "D-98")-Henry C. Hines-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr., 2/23/1992-Eric J. Streiner 1/1994-Wesley A. Rasmussen, Heritage Auctions 1/13/2005:3155-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:107-Fred H. Borcherdt Collection

1797 S-134 R4 Small Fraction PCGS graded AU55At least five points sharper but (possibly) lightly cleaned and expertly retoned long ago. Very attractive glossy light to medium chocolate brown with hints of frosty lighter brown in protected areas. Regardless this cent has great eye appeal. Smooth with minor contact marks, none notable. A small planchet void in the lowest curl can help identify this cent. M-LDS, Breen state IV, with two strong die cracks to the top of the E in AMERICA. Graded EF45 and tied for CC#2 in the Bland census. Noyes says EF40 net VF35 and tied for CC#5. Our grade is EF40+ sharpness net VF35+. An important, very attractive cent. A superior example of the only 1797 with a Small Fraction reverse as seen on some varieties of 1796, and it comes with a wonderful provenance. In addition it is the plate coin for the Small Fraction reverse in Early American Cents and Penny Whimsy.Certificate Number: 35933.55/61275934Pedigree: Ex Dr. George P. French, B. Max Mehl 1929 FPL, lot 153-Henry A. Sternberg 8/1930-T. James Clarke 1944-B. Max Mehl 6/1945:1662-Sheraton Coin Co. 1945-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co 11/14/1973:450-Melvin A. Robinson-William Peterson (Cincinnati Coin Exchange)-Chris McCawley, 2001 EAC Sale, McCawley & Grellman Auctions 3/31/2001:211-Walter J. Husak, Heritage Auctions 2/15/2008:2137-Fred H. Borcherdt Collection

1797 S-135 R3 PCGS graded AU50Lightly worn but both sides are weakly struck thanks to shallow low spots and small planchet chips, mostly on the head and inside the wreath. The toning is a very nice glossy light chocolate brown with lighter brown in protected areas. MDS, Breen state III, before any swelling or die clashmarks. Graded EF40 by Noyes, his photo #26060. Our grade is EF40.Certificate Number: 35936.50/52084634Pedigree: From the Fred H. Borcherdt Collection

1797 S-136 R3 VF25Choice glossy medium brown with slightly darker steel brown toning on the devices. Smooth and virtually flawless with superior eye appeal. E-MDS, Breen state II, with faint die clashmarks on the reverse. Struck 5% off center to K-7.5. A really nice cent that comes with an equally nice provenance.Certificate Number: Pedigree: Ex Thomas L. Elder 5/1937:595-Henry C. Hines-Willard C. Blaisdell-George Ramont-Fred H. Borcherdt Collection

1797 S-136 R3 VF25Sharpness EF45 with fine roughness at the top of the reverse and at AME. Otherwise the surfaces are smooth. No verdigris and the best identifying mark is a microscopic chip under the Y in LIBERTY. MDS, Breen state III, before bulging at ER in AMERICA or die clashmarks, but the details on the reverse are severely blunted and a faint die crack shows at RI. The obverse is very sharp; looks like two different coins in this die state.Certificate Number: Pedigree: Ex Superior 6/6/2006:159-Colonel Steven K. Ellsworth-Fred H. Borcherdt Collection (includes the Ellsworth sales envelope)

1797 S-137 R2 EF40Glossy light brown with frosty golden tan faded down from mint color in protected areas and slightly darker steel brown on the highpoints. There is very little actual wear on this cent but the strike was blunted in the center of the obverse from a buildup of lubricant (a problem that is common on the earlier die states of the variety). No notable marks other than some of the usual tiny planchet flakes or chips in the softly struck areas. E-MDS, Breen state III, with a fine die crack from the right end of the wreath ribbon to the dentils. The repunching below the first S in STATES is sharp. Graded EF40 and tied for CC#5 in the Bland census. Noyes says EF45 Choice and CC#3, his photo #26470. Comes with a nice provenance.Certificate Number: Pedigree: Ex William Rabin 1934-Judge Thomas L. Gaskill-New Netherlands Coin Co 11/1956-Dorothy I. Paschal, New Netherlands Coin Co 12/1957:1059-Dorothy I. Paschal 5/1977-Denis W. Loring 11/1982-Fred H. Borcherdt Collection

1797 S-137 R2 PCGS graded AU53Glossy medium brown and light chocolate with puffs of reddish brown on the obverse. There are microscopic traces of verdigris in some of the protected areas on the obverse, mostly in those reddish areas. Otherwise choice and well struck (which is a rarity for this variety). The only contact mark is a very small nick or struck-through line high on the neck. MDS, Breen state IV, with die clashmarks on both sides and a few die cracks on the reverse. Graded VF35 and tied for CC#8 in the Bland census. Noyes says EF45 net VF35 and tied for CC#5, his photo #26323. Our grade is VF35. An attractive cent in spite of the minor flaws.Certificate Number: 35942.53/61275935Pedigree: Ex John K. Borcky, Thomas L. Elder 6/19/1935:648-Frank Hussey, New Netherlands Coin Co. 4/22/1960:1387-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co 11/14/1973:453-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-C. Douglas Smith-Fred H. Borcherdt Collection (includes the Elder lot envelope, the face of the Naftzger collection envelope, the Naftzger lot ticket, and the Loring collection envelope)

1797 S-138 R1 PCGS graded MS64+ BrownBeautiful lustrous light to medium olive brown with generous traces of mint red remaining on both sides. The strike is sharp, the surfaces are satiny, and this cent has great eye appeal. The best identifying mark is a small splash of medium chocolate brown toning at the right foot of the second A in AMERICA. Essentially a flawless cent. M-LDS, Breen state VII late or VIII early, with die cracks and bulges on both sides. Graded MS63 and tied for CC#2 in the Bland census. Noyes says MS62 and tied for CC#4, his photo #28957. Our grade is MS63. In our opinion this cent is marginally superior to the two listed as MS65 in the Noyes census. This is the plate coin for the reverse in Early American Cents and for the obverse in Penny Whimsy. Comes with an unbroken provenance that can be traced back to the US Civil War era.Certificate Number: 35945.64+/57538518Pedigree: Ex Allan Collection, W. Elliot Woodward, 10/1864:623-Joseph Zanoni-Thomas Cleneay, S. H. & H. Chapman 12/9/1890:1810-S. H. & H. Chapman-M. A. Brown, S. H. & H. Chapman 4/16/1897:775-George H. Earle, Jr., Esq., Henry Chapman 6/23/1912:3403-S. H. Chapman-Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:166 (as Gem UNC)-James Kelly-Milton A. Holmes, Stack's 10/5/1960:1397 (as MS65)-Frank H. Masters, Jr., Rare Coin Company of America 5/14/1971:109 (as Gem UNC)-Ted Kress 6/1991-Fred H. Borcherdt Collection (includes the Newcomb and Holmes lot tickets and the Masters collection envelope).

1797 S-139 R1 VF35Very attractive glossy medium brown and light chocolate with frosty lighter brown in protected areas. Smooth with trivial marks and very nice eye appeal. A spot of reddish chocolate brown toning right of the Y, another left of the C in CENT, and a small rim nick at TE in STATES are the only marks. LDS, Breen state V, with cracks and buckling left of the lower curls. Graded EF40 net VF35 and tied for CC#11 in the Noyes census, his photo #33325. A beautiful cent in a neat die state.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 S-140 R1 PCGS graded AU58Choice glossy steel brown and chocolate with frosty lighter brown and tan in protected areas, especially on the reverse. Lightly worn with smooth surfaces and superior eye appeal. A dull nick over the left top of the O in ONE is the only notable mark. M-LDS, Breen state VII, with swelling and die cracks on both sides. Graded EF45 and tied for CC#5 in the Bland census. Noyes says EF45 Choice and CC#5, his photo #26743. Our grade is EF45. A beautiful cent.Certificate Number: 35951.58/61275936Pedigree: Ex Mayflower Coin Co.-George Ramont-Fred H. Borcherdt Collection (includes the Ramont collection envelope)

1797 S-140 R1 EF40Glossy medium chocolate and olive brown. Smooth and very attractive with just light contact marks. The notable marks are a hairline scratch in the field below the hair ribbon and some faint hairline scratches over CENT. Otherwise this cent is choice. LDS, Breen state IX, with die cracks and significant swelling, especially at the bust. Graded EF40 and tied for CC#6 honors in the Noyes census, his photo #25945. A beautiful example of a great die state.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 S-141 R4 VF20Sharpness near EF40 and beautiful if not for a grouping of 4 dull scratches in the field off the chin and neck. The only other notable mark is a diagonal nick over the N in ONE. Glossy medium brown with frosty tan in protected areas and slightly darker steel brown on the highpoints. M-LDS, Breen state III, with a strong vertical die crack through the left end of the wreath ribbon. A bit unevenly struck thanks to the die state. Graded EF40 net VF30 and CC#6 in the Bland census. Noyes says VF35 net VF20 and tied for CC#9, his photo #26286. An imperfect cent but still among the finer examples of this tough variety.Certificate Number: Pedigree: Ex Hance Jaquett 11/1982 (unattributed)-Fred H. Borcherdt Collection

1797 S-142 R5+ VG10Slightly sharper but there are some contact marks including a few nicks on the portrait and a rim bruise off the chin. Glossy light to medium chocolate brown with lighter brown on the devices. No roughness or verdigris; nice for the grade in spite of the few marks. EDS, Breen state I, without any trace of die rust on the obverse. Weakly struck at OF as often seen on this variety. Graded VG10 and tied for CC#9 in the Bland census. Noyes says F15 net VG10 and tied for CC#5, his photo #27514. Comes with a nice provenance.Certificate Number: Pedigree: Ex Russ Vaughn 1969-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-C. Douglas Smith 1/1980-Denis W. Loring 2/1980-Fred H. Borcherdt Collection

1797 S-143 R5 Stemless Wreath F15Sharpness VF35 but the surfaces are not perfectly smooth. No verdigris and just trivial contact marks including a collection of dull ticks along the left edge of the lower curls. Mostly glossy medium chocolate brown. EDS, Breen state I, with fine die clashmarks on the obverse, clearest below the L. The Stemless Wreath feature is bold. Graded VF35 net F15 and tied for CC#10 in the Bland census. Noyes says VF35 net F12 and tied for CC#11, his photo #34149.Certificate Number: Pedigree: Ex Richard Parisi 1978-Fred H. Borcherdt Collection

1797 NC-1 R6+ Reverse of 1796 G5Sharpness VF25 but covered with light to moderate corrosion, strongest on the obverse. There are traces of hard verdigris on both sides but the date and legends are complete and clear. Dark olive brown and steel with lighter olive brown on the reverse. The only contact mark is a small, light rim bruise at the end of the bust. EDS, Breen state I. The crack at ERT is clear. Thirteen examples of this variety are known, and most of those have significant defects, mostly roughness and corrosion. In our opinion this piece is tied for CC#5 based on a photo comparison and is the second sharpest among this small group.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1797 NC-3 R5+ AG3Several points sharper, particularly on the obverse, but the planchet is covered with fine to moderate roughness. No verdigris and the only contact marks are a scratch at the top of the hair ribbon and a lighter one in the field below the ribbon. Partly glossy steel brown and light olive mixed with hints of reddish chocolate. EDS, Breen state I, with an uncracked reverse. Not perfect but the date is bold and the attribution points are clear. One of about 4 dozen known of this die combination, and nearly all are in low grades. The finest outside the ANS grades F15.Certificate Number: Pedigree: Ex Denis W. Loring 1979-Fred H. Borcherdt Collection

1797 NC-3 R5+ Fair-2+Slightly sharper but covered with fine to moderate roughness. No verdigris, just a few shallow pits or planchet flakes on the upper part of the obverse. Slightly glossy dark olive brown and steel with lighter brown highlights on the highpoints. The date is complete and clear as is the upper half of the reverse, but the upper obverse and lower part of the reverse are softly struck. Semi-unique terminal die state with a clearly defined cud break at TES. Only two examples of this die state are known; the other is a scudzy G5 net Fair-2 that was lot 176 in the Goldberg sale of the famous R. S. Brown, Jr. collection sold by the Goldbergs on 1/27/1996, and the rim cud is weak on that example. Graded G4 net Fair-2 and tied for finest known in the Noyes census, his photo #62604. This piece is clearly the superior example of the die state.Certificate Number: Pedigree: Ex Tom Hart-Fred H. Borcherdt Collection

1797 NC-5 R6- PCGS VF Detail, CleanedVery attractive glossy chocolate brown and steel with traces of lighter brown in some protected areas. Smooth with minor marks including a dull tick close before the nose, a small, barely visible rim bruise right of the date, and another at ED. Overall choice for the grade. Graded VG10 and tied for CC#5 in the Bland census. Noyes says VG10 and CC#5, his photo #26481. Our grade is VG10+. We respectively disagree with the PCGS assessment of "Cleaned." This is a nice cent.Certificate Number: 35969.92/52085747Pedigree: Ex Richard W. Tirrell 3/1981-Denis W. Loring 3/1981-Fred H. Borcherdt Collection

1798 S-144 R5+ Style I Hair, Large 8 VG10Glossy brown and light chocolate blending to medium chocolate in the protected areas. Nice for the grade, especially to the unaided eye, but a glass reveals some minor contact marks. The notable ones are several very light scratches hidden in the toning on both sides and a small rim nick under the lowest curl. M-LDS, Breen state III late. The reverse is heavily buckled, the die crack through the top of OF is strong, the crack up through the left end of the wreath ribbon is clear, and the terminal crack through ES is just starting to show. An impressive example of this very rare variety; called "A famous coin and one of the few aesthetically pleasing pieces--an aristocrat" by Dr. Ralls on his collection envelope. The C. Douglas Smith envelope (which also accompanies this lot) documents some of the history of this cent. He says "Lot 180, DuPont sale, 9/24/54, @$140. To DWL @ $500 several years later, thence to Robbie Brown. Regained 10/20/75 with 3 Grovers, from DWL in trade for the Proskey-Hines-WHS S-144. DWL had secured the DuPont S-144 from RSB as a stipulated replacement for the Proskey-Hines-WHS piece, which, in turn, was regained from DWL in a 15-Grover deal on Xmas day 1977." Doug got all this on a single 2x2 envelope, and FYI, a "Grover" is $1000. Dr. Ralls obtained the coin from Doug Smith in what Phil called "a blockbuster trade" that involved the finest known 1798 S-169, the second finest 1798 S-183, and "mucho cash." Like Dan Holmes used to say, it's all about the story. This cent is graded VG10 by Del Bland and Bill Noyes (his photo #23143) and it is tied for CC#3 honors with the ANS piece. An impressive example of a variety that is represented by only two examples grades above VG10, and it comes with a great story.Certificate Number: Pedigree: Ex Charles J. DuPont, Stack's (Anderson DuPont Sale) 9/1954:180-C. Douglas Smith 9/1970-Denis W. Loring 9/1970-R. S. Brown, Jr. 10/1975-Debis W. Loring 10/20/1975-C. Douglas Smith 2/28/1990-Dr. Philip W. Ralls, McCawley & Grellman Auctions 1/26/2014:475-Fred H. Borcherdt Collection

1798 S-145 R3 Style I Hair, Large 8 PCGS graded AU53, CAC ApprovedFrosty golden tan with steel brown toning on the highpoints. Smooth with no trace of corrosion or verdigris, just a few barely visible contact marks from choice. The notable ones are a trio of vertical nicks on the ribbon under the N in CENT and a thin planchet crease (as struck) that meanders under CE. Sharply struck EDS, Breen state I, before any buckling or die clashmarks. In addition there are areas on the edge that show diagonal reeding, which was applied in England before the blank planchets were shipped to the US Mint. Graded VF35 net VF30 and tied for CC#3 in the Noyes census, his photo #31743. Bland says VF35 and tied for CC#3 in the Breen/Bland census. Our grade is EF40 net VF35.Certificate Number: 36014.53/32783435Pedigree: Ex Hollinbeck Kagin Coin Co. #258, 6/1965:96-Hollinbeck Kagin Coin Co. #299, 1/1973:272-Hollinbeck Kagin Coin Co.-Art Kagin-Kagin's Numismatic Auctions #322, 9/1980:126-Art Kagin 8/16/1992-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:125-Fred H. Borcherdt Collection

1798 S-145 R3 Style I Hair, Large 8 PCGS graded XF45, CAC ApprovedChoice glossy medium brown and light chocolate brown with slightly darker steel brown toning on the highpoints. Frosty luster shows in the protected areas on both sides and the eye appeal of this cent is outstanding. The surfaces are smooth and the only marks are a tiny nick in the field at the throat, a dull nick on the base of the E in CENT, and a trio of tiny rim nicks at STA in STATES. MDS, Breen state IV early. A fine die crack shows over the O in OF and the only buckling on the reverse is confined to that area. Struck on a planchet that shows diagonal reeding on the edge (Breen's planchet type V). Called VF35 and tied for CC#3 in the Bland census. Noyes says EF45 net EF40 and tied for CC#1 honors with one other piece, his photo #24394. Our grade is VF35+, very close to EF40. Another beautiful cent that comes with a nice provenance.Certificate Number: 36014.45/28579783Pedigree: Ex Judge Joseph Sawicki, Stack's 2/1954:598-Harold Bareford 9/13/1985-Herman Halpern, Stack's 3/16/1988:145-Dr. Philip W. Ralls-Ralls Estate, McCawley & Grellman Auctions/Goldbergs 1/26/2014:476-Fred H. Borcherdt Collection

1798 S-146 R5- Style I Hair, Large 8, PCGS graded XF45Glossy light olive and steel brown with lighter brown and tan in protected areas on the obverse. Smooth and quite attractive with light wear and minor marks. There are several tiny nicks on the neck; a light diagonal nick left of the upper lip is the best identifying mark. M-LDS, Breen state III. The curls at the shoulder are incomplete and the shoulder loop is gone, all victims of die polishing to remove rust. Graded VF25 and CC#4 in the Bland census. Noyes says VF25 Choice and CC#3, his photo #26542. Our grade is VF25+. The obverse of this cent is plated in the 1991 Noyes reference to illustrate his die state A (with shoulder loop), but this is his die state B. Regardless, this is a very nice example of a tough die variety.Certificate Number: 36017.45/61275937Pedigree: Ex Richard Picker 1970-Denis W. Loring 9/1970-R. S. "Robbie" Brown, Jr. 11/1976-Denis W. Loring 12/1977-C. Douglas Smith 4/1980-Fred H. Borcherdt Collection

1798 S-146 R5- Style I Hair, Large 8 VF20Sharpness EF45 with nice eye appeal, but a glass reveals very fine roughness mixed in with the die rust, and the die rust is dominant. There is a small patch of shallow reddish corrosion at ITE and the only contact marks are a couple light scratches from the B into the hair and cheek plus a tick or planchet flake on the truncation above the 9. Partly glossy medium steel brown. LDS, Breen state IV, with extensive die rust and erosion on both sides. Graded EF45 net VF20 and tied for CC#4 in the Noyes census, his photo #35990.Certificate Number: Pedigree: Ex Chris Young, Bowers & Merena 12/2003:122 (as VF25)-Fred H. Borcherdt Collection

1798 S-147 R5- Style I Hair, Large 8 PCGS graded AU55, CAC ApprovedFrosty light to medium brown with slightly darker steel brown toning on the highpoints of the devices. No spots, stains, or planchet flaws, but there are some small contact marks scattered over both sides, especially in the field behind the portrait. None of the marks is significant and the eye appeal of this cent is excellent. The best identifying marks are a diagonal nick under the Y in LIBERTY and a tiny planchet void near the leaf under the left foot of the N in UNITED. Sharply struck EDS, Breen state I. There are fine die clashmarks on both sides but no cracks on the reverse. Struck with the obverse die slightly misaligned to K-2 while the reverse is reasonably well centered on the planchet. A great cent that was discovered in England. Graded EF40 and CC#1 in the Noyes census, his photo #60571. Not seen by Bland. Our grade is EF45 sharpness net EF40+. Another wonderful cent; only 4 are known that grade above Fine by EAC grading standards.Certificate Number: 36020.55/32783432Pedigree: Ex a British dealer-Henry T. Hettger 7/30/2008-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:128-Fred H. Borcherdt Collection

1798 S-148 R2 Style I Hair, Large 8 VF30+Sharpness EF40 but there are extremely faint hairlines visible on both sides if you get the light at just the right angle. In addition there are blunted areas on the neck and around the wreath, all caused by debris (lubricant) on the dies. The best identifying mark is a very small tick in the field left of the base of the L in LIBERTY. Glossy steel brown and chocolate with lighter brown and tan in protected areas on both sides. EDS, Breen state I, before any die cracks. Graded EF40 and tied for CC#5 in the Bland census. Noyes says VF35 net VF30 and tied for CC#6. Comes with an important provenance.Certificate Number: Pedigree: Ex Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:187-David Henderson (the Benson Collection), Ira & Larry Goldberg Coins & Collectibles 2/16/2001:305-Fred H. Borcherdt Collection (includes the Newcomb auction envelope)

1798 S-148 R2 Style I Hair, Large 8, PCGS graded AU58+Frosty tan with steel brown toning on the highpoints. A sharp, very attractive cent with just a light touch of friction on the highpoints. The sharpness is closer to mint state than the grade we assigned, but there is a very light, barely visible scratch from the neck to the bust. Otherwise just a few small nicks in the field under the hair ribbon and a small low spot in the field against the neck. M-LDS, Breen state VI, with a bold cud break connecting ERTY to the rim and fine die cracks on both sides. Our grade is net EF45+. A relatively new discovery that came from England; not seen by Noyes or Bland. This is the finest known example with the cud break at ERTY. A prize for the collector of significant die states.Certificate Number: 36023.58+/61275938Pedigree: From England in 2009-Fred H. Borcherdt Collection

1798 S-148 R2 Style I Hair, Large 8 VG10A few points sharper with fine roughness under mostly glossy medium brown and chocolate toning. No verdigris but there are some marks including a few fine scratches on the portrait into the field to the right, a shallow chip right of the ear, and a rim bruise under the lowest curls. Terminal die state, Breen VIII, with strong rim cuds at ERTY and the bust tip. Graded F15 net VG8 and tied for CC#2 behind the ANS example of the die state (the ANS piece is graded net F12), Noyes photo #38326. An important piece for the collector of significant die states.Certificate Number: Pedigree: Ex NASCA 12/6/1978-Richerd V. Punchard-Fred H. Borcherdt Collection

1798 S-149 R4+ Style I Hair, Large 8 VG7A point or two sharper but the fields and protected areas are covered with very fine granularity while the highpoints are smooth. No verdigris, only a few minor marks including a tick on the jawline and a light scratch on the neck. Rather glossy medium olive brown with lighter brown toning on the devices. EDS, Breen state I, before any buckling on the reverse. Struck about 5% off center to K-1. The date is bold and the legends are clear. Graded G6 net G5 by Noyes, his photo #33371.Certificate Number: Pedigree: Ex Ted Kress-Fred H. Borcherdt Collection

1798/7 S-150 R5 Overdate Small 8 over 7 VF25Very attractive glossy light chocolate brown. Smooth with light wear and great eye appeal. Would rate a slightly higher grade if not for a couple light rim bruises on the reverse: one at TE in STATES and another at the first A in AMERICA. The only other marks are a dull rim nick at the I in UNITED and some extremely faint horizontal hairlines on the cheek and neck. LDS, Breen state IV, with die cracks and swelling on the reverse. The overdate feature is quite bold. Graded VF30 net VF20 and the for CC#4 in the Bland census. Noyes says VF35 net VF25 and tied for CC#3, his photo #26789. This cent is plated in the 1879 Frossard monograph on US cents and half cents.Certificate Number: Pedigree: Ex (probably) Edouard Frossard 1879-unknown-Joseph Levine-George Ramont 5/18/1993-R. S. "Robbie" Brown, Jr., Superior 1/27/1996:212-Thomas D. Reynolds-Fred H. Borcherdt Collection (includes the Brown collection envelope and Superior lot ticket)

1798/7 S-151 R3 Overdate Small 8 over 7 PCGS graded AU50Frosty dark steel brown with lighter brown and golden tan in protected areas. The surfaces are mostly smooth and attractive and the eye appeal is excellent, but there is a trace of very shallow reddish crust hidden in the protected area around the eye and in the depression at the top of the ear. The only notable contact mark is a peanut-shaped planchet chip just right of the F in OF (as struck). E-MDS, Breen state III early, with most but all of the fine die cracks Breen lists for that die state. In addition there is significant die crumbling in the dentils from the date to left of the lower curls. Struck slightly off center to K-3 affecting only the dentils. The overdate feature is quite bold. This cent is plated in the 1991 Noyes reference to illustrate the variety. Graded EF40 and CC#3 in the Noyes census, his photo #20875. Bland says EF40 and tied for CC#3. Our grade is EF40+ sharpness net VF35.Certificate Number: 35996.50/32783444Pedigree: Ex Henry C. Miller, The United States Coin Co. 12/1917:427-withdrawn-unknown-B. Max Mehl (privately) 1947-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger Jr., 2/23/1992-Eric J. Streiner 4/5/1992-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:135-Fred H. Borcherdt Collection

1798/7 S-151 R3 Overdate Small 8 over 7 F15Ten points sharper with extremely faint roughness hidden under glossy steel brown and light olive toning that blends to darker olive brown in protected areas. No marks or verdigris, and the eye appeal is quite nice for the grade in spite of the imperfect surfaces. LDS, Breen state VIII, with all the cracks and swelling listed by Breen, but the terminal cud break over the E in AMERICA (not mentioned by Breen) has not formed. Struck slightly off center to K-11. Graded VF25 net F12 and tied for CC#8 in the Bland census. Noyes says F12 net VG8 and tied for CC#15, his photo #27465.Certificate Number: Pedigree: Ex Coin Galleries (Stack's) 5/1984:1006-Dr. Robert J. Shalowitz 5/24/1985-Fred H. Borcherdt Collection

1798/7 S-152 R2 Overdate Large 8 over 7, PCGS AU Detail, CleanedA sharp cent that shows very little wear, but it was lightly cleaned and nicely retoned glossy chocolate brown and steel blending to darker chocolate in protected areas. The surfaces are smooth and the only marks are a thin planchet fissure near the rim left of the L and a couple small nicks on the neck into the hair. The planchet fissure reaches around to the I in UNITED, but it is barely visible there. M-LDS, Breen state III, with a clear radial die crack from the rim to the hair near the curl under the hair ribbon. Struck with the obverse die slightly misaligned to the top. Graded AU55 net EF45 and CC#3 in the Bland census. Noyes says EF45 net VF30 and tied for CC#5, his photo #27513. Our grade is EF45 sharpness net VF35. An impressive example of the variety in spite of the retoning.Certificate Number: 35999.92/52085736Pedigree: Ex Dean C. Johnson 1978-Fred H. Borcherdt Collection

1798 S-153 R3 Style I Hair, Large 8 VF20Very attractive glossy light to medium chocolate brown. Smooth with trivial marks and great eye appeal. A thin, very light nick near the dentils before the neck is the best identifying mark. EDS, Breen state I, before any chashmarks on the obverse. Graded VF25 by Del Bland. Noyes says VF20 net F12, his photo #27464. A very nice mid-grade cent.Certificate Number: Pedigree: Ex Denis W. Loring 1978-Fred H. Borcherdt Collection

1798 S-153 R3 Style I Hair, Large 8 VF20Sharpness EF45 but there is a moderate scratch from the earlobe to the lower end of the hair ribbon and a dull but deeper scratch from the N in ONE to the NT in CENT. The surfaces look smooth to the unaided eye but a glass reveals extremely faint roughness under rather glossy dark olive brown and steel toning. There is a trace of hard verdigris nestled along the front edge of the nose and a very light scuff left of the eye. TDS, Breen state VII, with a strong rim cud at the end of the bust. Graded VF35 net VF25 and tied for CC#14 in the Bland census. Noyes says VF35 net VF20 and tied for CC#12 overall but tied for third finest of those known with the cud break, his photo #26221.Certificate Number: Pedigree: Ex J. Cicik 1978-Fred H. Borcherdt Collection

1798 S-154 R4+ Style I Hair, Large 8, PCGS AU Detail, ResidueGlossy medium brown and light chocolate with frosty lighter brown in protected areas. Lightly worn with smooth surfaces, lots of flowline luster, and great eye appeal. There are traces of crud around the L in LIBERTY and a dull scratch at the lower curls; otherwise essentially flawless. E-MDS, Breen state I, with swelling on both sides and die clashmarks on the reverse. Graded VF30 and tied for CC#6 in the Bland census. Noyes says VF35 net VF25 and tied for CC#6, his photo #26065. Our grade is VF35+ sharpness net VF30. A beautiful cent except for the trace of crud; perhaps deserving of a proper bath.Certificate Number: 36032.94/52084633Pedigree: Ex J. C. Morgenthau & Co. 5/1941:600-Judge Thomas L. Gaskill, New Netherlands Coin Co. (privately) 11/1956-Dorothy I. Paschal-unknown-Lester Merkin 11/1965:54-Dr. Lawrence A. Matternes, Lester Merkin 10/31/1973:283-C. Douglas Smith 11/1973-Denis W. Loring 7/1980-Fred H. Borcherdt Collection

1798 S-155 R3 Style I Hair, Reverse of 1796 VF30Ten points sharper with extremely faint roughness under mostly glossy olive and dark steel brown toning. There is very little wear on this cent and the eye appeal is quite nice in spite of the slightly dull surfaces and dark toning. The only marks are a small prick over the N in ONE and a light nick left of that O. LDS, Breen state VI, with all the die cracks mentioned by Breen. Graded VF35 and tied for CC#10 in the Bland census. Noyes says VF35 net F15 and tied for CC#14, his photo #27467. A sharp, wholly acceptable example of the Reverse of 1796 type, and it comes with the important Starr Collection provenance.Certificate Number: Pedigree: Ex Floyd T. Starr, Stack's 6/13/1984:28-Fred H. Borcherdt Collection

1798 S-156 R5+ Style I Hair, Reverse of 1796, PCGS graded VF35Glossy steel brown with lighter brown and tan in protected areas. Smooth with moderate wear and trivial contact marks. A tiny tick on the right side of the 9 can help identify this cent, but you need a glass to see it. EDS, Breen state I, before the die crack at the bottom of the bust. Graded VF20 and tied for CC#2 in the Bland census. Noyes says VF20 Choice and tied for CC#3, his photo #21761. Our grade is VF20. The obverse of this cent is plated in George H. Clapp's 1931 reference The United States Cents of the Years 1798-1799,and in Dr. Sheldon's Early American Cents and Penny Whimsy. An important cent that comes with an equally impressive provenance.Certificate Number: 36005.35/61275939Pedigree: Ex Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:201-Dr. William H. Sheldon-Dorothy I. Paschal 1977-Denis W. Loring-R. E. "Ted" Naftzger, Jr., 1989 EAC Sale, lot 93-Thomas D. Reynolds 2003-Scott M. Barrett, Esq.-Fred H. Borcherdt Collection (includes the Loring/Naftzger collection envelope)

1798 S-157 R2 Style I Hair, Small 8 VF25Glossy chocolate brown and steel with lighter brown toning on the obverse highpoints. Smooth with trivial marks and excellent eye appeal. A thin, light nick on the left edge of the shoulder may help identify this cent. EDS, Breen state I, before any trace of die rust. Graded VF30 by Doug Smith. Noyes says VF20 net F12, his photo #27370. Comes with the famous Downing Collection provenance.Certificate Number: Pedigree: Ex Homer K. Downing 6/29/1949-Lawrence A. Matternes, Lester Merkin 10/31/1973:284-C. Douglas Smith-Fred H. Borcherdt Collection (includes the Doug Smith collection envelope)

1798 S-158 R4 Style I Hair, Small 8 F15+Slightly sharper with minor marks on otherwise smooth, choice surfaces. The notable marks are a dull rim nick off the upper end of the hair ribbon, a dull rim nick at the N in UNITED, and a few dull nicks at ST in STATES. Glossy light to medium brown with reddish brown in protected areas. MDS, Breen state IV, with die cracks on both sides.Certificate Number: Pedigree: Ex James R. McGuigan 1978-Fred H. Borcherdt Collection

1798 S-158 R4 Style I Hair, Small 8 F15Ten points sharper with faint roughness under mostly glossy dark olive brown and steel toning. The highpoints are a lighter shade of brown and this cent has nice eye appeal in spite of the imperfect surfaces. No verdigris, and the only notable mark is a dull scratch in the hair above the ear. Rare TDS, Breen state VI, with a bold cud break at ITED. Graded VF20 net VG10 and second finest of the terminal die state in the Noyes census, his photo #26281. This is the Noyes plate coin for the terminal die state in his 1991 reference on the cents of 1793-1814.Certificate Number: Pedigree: Ex Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1798 S-159 R3 Style I Hair, Small 8, PCGS graded AU50Frosty tan and light brown blending to steel brown and chocolate on the highpoints. Lightly worn with smooth surfaces but there is an obvious spot of dark toning and very shallow crud left of the hair ribbon and a more subtle streak of reddish brown toning in the field before the face. There are some small contact marks and planchet chips on the chin, neck, and field before the portrait, but they are barely visible to the unaided eye. M-LDS, Breen state V, with several vertical die cracks in the field behind the portrait plus other die cracks and clashmarks at LIB. Graded EF40 and CC#3 in the Bland census. Noyes says EF40 net VF30 and tied for CC#4 honors with an ANS example, his photo #32340. Our grade is VF30. Another important cent that comes with a nice provenance.Certificate Number: 36041.50/52085732Pedigree: Ex Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:216-James G. Macallister-Charles Green (R. Green)-Judge Thomas L. Gaskill, New Netherlands Coin Co. (privately) 11/1956-Dorothy I. Paschal-Fred H. Borcherdt Collection

1798 S-160 R3 Style I Hair, Small 8, PCGS graded AU55Medium brown and light olive with mint frost in the fields and protected areas on the reverse. The obverse fields are hard and rather reflective, and this cent has really nice eye appeal. The only marks are a small spot of darker olive brown toning (not carbon) in the hair left of the earlobe, a couple ticks in the field off the brow, and a collection of very shallow low spots at the ear and around ONE (caused by lubricant and dirt on the die). M-LDS, Breen state III, with clashmarks from the dentils at the end of the bust. Graded EF45 and CC#3 in the Bland census. Noyes says EF45 net VF35 and CC#4, his photo #39047. Our grade is EF45. A great cent that has a rather complicated history.Certificate Number: 36044.55/61275940Pedigree: Ex Charles Green (R. Green)-T. James Clarke 1950-Dr. William H. Sheldon-ANS 1/26/2001 (as part of the court settlement regarding the cents obtained improperly by Dr. Sheldon)-R. E. "Ted" Naftzger, Jr. (via William C. Noyes)-Fred H. Borcherdt Collection

1798 S-161 R2 Style I Hair, Small 8, PCGS graded AU53Glossy brown and light chocolate with frost in the protected areas. A sharp cent with light wear on the devices, but there are some small contact marks on the portrait into the field off the lower curls. None of the marks is significant but there too many to ignore at this level of sharpness. Shallow low spots cover much of the field inside the wreath and under the R in AMERICA (as struck); otherwise that side is sharp and choice. EDS, Breen state I, before any die cracks on the reverse. Graded VF30 by Noyes, his photo #27268. Our grade is EF40+ sharpness net VF35. This is the finest example of the early die state known to us.Certificate Number: 36047.53/52085735Pedigree: Ex Denis W. Loring (at the 1980 ANA Convention)-J. R. "Bob" Grellman, Jr. 7/1983-Fred H. Borcherdt Collection

1798 S-161 R2 Style I Hair, Small 8 EF45Very attractive glossy medium olive brown and steel with mint frost in the protected areas. Would rate a slightly higher grade but there is a short scratch in the field right of the Y in LIBERTY. Otherwise this cent is choice. E-MDS, Breen state IV, with die cracks on both sides. Graded EF45 and tied for CC#8 in the Bland census. Noyes says EF40, his photo #26593. Comes with the famous Hines-Downing provenance.Certificate Number: Pedigree: Ex Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1808-K. P. Austin-George Ramont-Fred H. Borcherdt Collection (includes the Ramont collection envelope)

1798 S-161 R2 Style I Hair, Small 8 F15Glossy medium steel brown and light chocolate with speckles of darker olive brown on the obverse. The surfaces are smooth and the eye appeal is quite nice for the grade, but there are some marks. The notable marks are a light scratch at the left edge of the Y, another close to the lowest curl, and a rim dent at AM. LDS, Breen state XI, with a bold cud break at ATES. Graded VF20 net F12 and CC#3 of those with this cud break in the Noyes census, his photo #28264.Certificate Number: Pedigree: Ex Denis W. Loring 8/18/1980-Richard V. Punchard-Fred H. Borcherdt Collection (includes the Punchard collection envelope)

1798 S-162 R4 Style I Hair, Small 8, PCGS graded XF45Very attractive glossy brown and light chocolate. Lightly worn with smooth surfaces and only minor marks including a diagonal nick left of the hair ribbon and a few smaller nicks in the field before the portrait. M-LDS, Breen state II late, with a die crack from the upper end of the hair ribbon to the left in addition to the earlier cracks and swelling on both sides. Graded VF25 and tied for CC#6 in the Bland census. Noyes says VF35 net VF30 and tied for CC#2, his photo #26484. Our grade is VF30. An attractive cent.Certificate Number: 36050.45/61275941Pedigree: Ex Hollinbeck Coin Co. 8/1953:313-C. Douglas Smith 5/16/1977-Denis W. Loring 1/1980-C. Douglas Smith 8/1980-Fred H. Borcherdt Collection

1798 S-163 R4 Style I Hair, Small 8 F12+A few points sharper but there are specks of verdigris right of the Y and on the bust. Otherwise the surfaces are smooth and show only minor contact marks. A tiny rim nick over the left edge of the R in LIBERTY and a nick on the chin can help identify this cent. Mostly glossy olive brown and steel with darker toning on the face. M-LDS, Breen state VI, with a slightly sunken retained cud break under the 17 and lowest curl. Graded F15 net F12 by Noyes, his photo #26527.Certificate Number: Pedigree: Ex Joseph H. Rose, Harmer Rooke Numismatics Ltd. 3/15/1990:99 (as VF, plated)-Fred H. Borcherdt Collection

1798 S-163 R4 Style I Hair, Small 8 G6Glossy light brown blending to darker chocolate in protected areas. Smooth with minor marks including some nicks at the A in STATES with traces of wax or glue at the nicks. Essentially just a well worn cent. Rare TDS, Breen state VII, showing a strong cud break connecting the 17 to the rim with an extension along the rim below the lowest curl. Graded VG7 net G5 and CC#4 of those in the terminal die state in the Noyes census, his photo #26289. This is the Noyes plate coin for the die state in his 1991 reference.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1798 S-164 R4 Style I Hair, Small 8, PCGS graded XF45Very attractive glossy medium brown blending to light chocolate in protected areas. Smooth with light wear and great eye appeal. The hair details are sharp and the only notable mark is a fine, very light scratch in the field right of the Y in LIBERTY. Otherwise just a few trivial ticks on the cheek and in the fields plus traces of soft dirt in protected areas on the reverse. E-MDS, Breen state II early. There is a tiny bulge off the end of the bust but there is no hint of a bulge at the 8. The edge of the planchet shows some diagonal reeding, a feature sometimes found on this variety. Graded EF40 and tied for CC#9 in the Bland census. Noyes says VF35 net VF25 and tied for CC#11, his photo #27320. Our grade is VF35.Certificate Number: 36056.45/61275942Pedigree: Ex George F. Scanlon, Stack's 10/1973:48 (as XF)-Dr. Robert J. Shalowitz 10/31/1973-C. Douglas Smith 12/1982-Fred H. Borcherdt Collection (includes the Scanlon lot ticket and Doug Smith collection envelope appropriately inscribed with the story of this cent.

1798 S-165 R4 Style II Hair, Large 8 PCGS graded AU50, CAC ApprovedUniform glossy medium chocolate and olive brown. Smooth with light wear and great eye appeal. No spots or stains, and the only marks are a very faint hairline scratch from the B in LIBERTY down into the hair where it disappears and a light diagonal nick in the field before the brow. MDS, Breen state II, showing light die clashmarks on both sides. Nicely struck except for minor weakness on the bust tip and opposing OF (as usual on this variety). Graded VF35 and CC#3 in the Noyes census, his photo #20334. Bland says VF35 and tied for CC#2 honors (the CC#1 cent is in the ANS). Our grade is VF35 Choice. A really nice cent and it comes with an important provenance.Certificate Number: 36065.50/32783162Pedigree: Ex John P. Young, M. H. Bolender MBS #181, 9/1951:124-C. Douglas Smith 12/1956 (via Dorothy I. Paschal)-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner 4/2/1992-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:161-Fred H. Borcherdt Collection

1798 S-166 R1 Style II Hair, Large 8 VF35Choice glossy brown and light chocolate. Smooth and nearly flawless; a tiny planchet chip right of the top of the F in OF and a nick below the adjacent A are the only notable marks. M-LDS, Breen state V. The crack through the E in UNITED obliterates the right half of that letter. Struck with the reverse rotated 35 degrees CCW. The strike on the bust is better than most, nearly complete.Certificate Number: Pedigree: Ex Steve Fischer 1/1981-Fred H. Borcherdt Collection

1798 S-167 R1 Style II Hair, Large 8 EF40+Choice glossy brown and light chocolate with underlying frosty tan in the fields and protected areas. Lightly worn and essentially flawless; a tiny planchet flake right of the D in UNITED is the only notable defect. LDS, Breen state VI early, with a strong cud break connecting the first T in STATES to the rim and a narrow but clearly defined rim cud at TE in UNITED. A beautiful cent that comes with a wonderful provenance.Certificate Number: Pedigree: Ex Carl Wurtzbach-Dr. William H. Sheldon-Dorothy I. Paschal-C. Douglas Smith-Denis W. Loring 3/1980-Fred H. Borcherdt Collection

1798 S-168 R3 Style II Hair, Small 8 VF30Glossy medium brown and olive. Smooth with light wear on the devices. The only notable mark is a rim bruise left of the hair ribbon. LDS, Breen state IV, with all the clashmarks and die cracks described by Breen. Graded VF30 and tied for CC#8 in the Noyes census. his photo #39885.Certificate Number: Pedigree: Ex Stack's 3/2000:1199 (as S-170, XF45)-Fred H. Borcherdt Collection

1798 S-169 R3 Style II Hair, Small 8, PCGS graded AU50Glossy steel brown and chocolate with frosty tan covering the protected areas. Smooth with light friction on the devices and just a couple minor contact marks: a couple faint hairlines in the field under the hair ribbon, a tiny rim nick right of the date, and another more noticeable rim nick at the U in UNITED. M-LDS, Breen state IV. The bulge above LIBERTY is clear and reaches to the dentil tips off the nose. Graded EF40 and tied for CC#5 in the Bland census. Noyes says EF45 net EF40 and tied for CC#4, his photo #26423. Our grade is EF40+. A very attractive cent, another repatriated piece out of England.Certificate Number: 36077.50/61275943Pedigree: Found in England 8/1976-Michael Sherman-James R. McGuigan 6/1983-Fred H. Borcherdt Collection

1798 S-170 R3 Style II Hair, Small 8 EF40Very attractive glossy chocolate brown and olive with lighter brown in protected areas. There is just a light touch of friction on the highpoints and mint frost covers the protected areas. Would rate a higher grade but there are two mint-made planchet flakes on the obverse, an obvious one at the top of the B and another small one hidden in the hair left of the shoulder. Otherwise just a few tiny ticks on both sides and a very shallow low spot at the C in CENT. E-MDS, Breen state II early, with hard, slightly reflective fields and fine die clashmarks on both sides, but no die cracks. Graded EF45 and CC#2 in the Bland census. Noyes says EF45 net EF40 and tied for CC#2, his photo #26295. Comes with a nice provenance.Certificate Number: Pedigree: Ex Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1679-C. Douglas Smith 8/28/1952-M. L. Kaplan-unknown-Associated Coin Auction Co. 4/7/1956:557-Donald Eastburn 6/1979-Fred H. Borcherdt Collection

1798 S-170 R3 Style II Hair, Small 8 VF25+Glossy chocolate brown and steel. Smooth with light wear and great eye appeal, just a few minor contact marks from choice. The notable marks are a pair of light ticks under the eye and a light diagonal nick on the jawline. M-LDS, Breen state III, with a die crack arcing through the ends of the hair ribbon. A very nice cent, close to VF30.Certificate Number: Pedigree: Ex James E. Long 12/20/1988-Fred H. Borcherdt Collection

1798 S-171 R4 Style II Hair, Small 8 VF30Glossy medium brown and chocolate with a puff of reddish brown toning at the L in LIBERTY and another at the bottom of the lowest curl. The surfaces are smooth and the only notable contact marks are a dull nick just right of the date and a tiny prick in the field off the chin. MDS, Breen state IV, with a bold cud break left of the L and die clashmarks on both sides. Graded VF30 and tied for CC#7 in the Bland census. Noyes says VF35 net VF25 and tied for CC#7, his photo #26262.Certificate Number: Pedigree: Ex Robert J. Kissner, Stack's 6/27/1975:311-C. Douglas Smith 4/1980-Fred H. Borcherdt Collection

1798 S-171 R4 Style II Hair, Small 8 F12Glossy olive brown and dark chocolate. Evenly worn with smooth surfaces and only minor contact marks. A dull prick at the bottom of the neck and a very small nick on the rim left of the first S in STATES are the best identifying marks. Rare TDS, Breen state VI late. A strong arcing die crack through the Y to the rim opposite the chin outlines a sunken retained cud break. An impressive example of an extremely rare die state. Graded F15 net F12 and finest known of the terminal die state in the Noyes census, his photo #38314. Another prize for the serious collector of significant die states.Certificate Number: Pedigree: Ex Chuck Furjanic-Herb Silberman-Dorothy Gershenson 12/12/1977-Richard V. Punchard-Fred H. Borcherdt Collection (includes the Punchard collection envelope)

1798 S-172 R2 Style II Hair, Small 8 VF35+Glossy chocolate and steel brown with slightly lighter brown toning on the face. The reverse is delicately mottled with some lighter brown tones in protected areas. Mint frost covers the protected areas and this cent has really nice eye appeal. The surfaces are smooth and show only a few trivial marks including a very tiny pinprick in the field under the chin, a light horizontal nick over the N in CENT, and a dull nick in the dentils over the right side of the O in OF. Terminal die state, Breen state VI, with a strong cud break joining ICA to the rim above. Noyes graded EF40 net VF30 and tied for CC#14 overall and CC#4 of the TDS, his photo #23186. A very nice cent that is accompanied by an equally nice provenance.Certificate Number: Pedigree: Ex Fred Sweeney 7/22/1970-Philip Van Cleave, Kagin's 1/30/1986:5187-C. Douglas Smith-Dr. Robert A. Schuman-Chris McCawley 1/5/2005-Daniel W. Holmes, Jr., McCawley & Grellman Auctions/Goldbergs 9/7/2009:315-Chris McCawley-David Johnson-Fred H. Borcherdt Collection (includes the Doug Smith collection envelope)

1798 S-173 R3 Style II Hair, Small 8 VF30Uniform glossy medium chocolate brown with traces of frost in protected areas. Would rate a slightly higher grade but there is a dull vertical nick or planchet void on the cheek, and it does catch your eye. Otherwise the surfaces are smooth with only trivial marks. M-LDS, Breen state VII, with a strong rim cud at RTY, and the cud is strongly connected to all three letters. Struck with the reverse rotated 55 degrees CCW from the normal head-to-foot die orientation.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1798 S-173 R3 Style II Hair, Small 8 F15+Glossy mix of medium brown, chocolate, and reddish brown with a few small puffs of darker olive brown on both sides. Slightly sharper where properly struck but the strike is uneven, strong at the top of the obverse and bottom of the reverse but weaker at the bottom of the obverse and top of the reverse (the die faces were not in proper axial alignment). The surfaces are smooth but there are numerous small, dull marks on the jaw and neck including a few obvious ones at the throat. LDS, Breen state VIII or IX, with strong cud breaks at LI and ERTY. The narrow rim cud at CA that identifies Breen's state IX actually occurs well before the cud break at LI, but it is barely visible due to wear and centering on this example.Certificate Number: Pedigree: Ex Dean Johnson 7/1977-Fred H. Borcherdt Collection

1798 S-174 R2 Style II Hair, Small 8, PCGS graded AU55Glossy steel brown on the highpoints with lustrous golden tan in the fields and protected areas. A beautiful cent with just a light touch of friction on the highpoints, but there are a couple small nicks on the jaw and some small puffs of dark toning (not carbon) on the obverse. M-LDS, Breen state IV early, with minor die cracks and strong clashmarks. The cheek and upper part of the neck are covered with very shallow low spots caused by debris on the die. Graded AU50 net EF45 and tied for CC#5 in the Noyes census, his photo #62605. Not seen by Bland. Our grade is EF45+. Another very nice 1798 cent in this wonderful collection.Certificate Number: 36092.55/61275944Pedigree: From the Fred H. Borcherdt Collection

1798 S-175 R3 Style II Hair, Small 8 VF25Highly glossy dark olive brown with lighter steel brown toning on the highpoints. The surfaces are smooth and the sharpness is at least 10 points better, but the gloss has been enhanced by a thin coat of "Care" or some similar protectant. The only notable mark is a nick nestled against the head just over the hair ribbon. TDS, Breen state VI, with a cud break at UN and die cracks on the reverse. Graded VF30 and tied for CC#9 in the Bland census. Noyes says VF25 net VF20 and tied for CC#15, his photo #26152. The eye appeal of this cent is better than the description might imply. Comes with a nice provenance.Certificate Number: Pedigree: Ex Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1828-Willard C. Blaisdell-Gordon J. Wrubel-Myles Z. Gerson-Denis W. Loring 1/1980-Fred H. Borcherdt Collection

1798 S-176 R4 Style II Hair, Small 8 VF20Sharpness EF40 but there are some rim bruises on both sides, and they have been lightly smoothed to minimize their impact. The rim bruises are left of the lower curls and at both the first and second S in STATES. In addition the field near the rim bruises on the obverse has been smoothed as well. The only other mark is a dull nick in the field before the neck. Sharply struck with very little actual wear. Rare EDS, Breen state II. The vertical crack up from the bust is faint and the reverse is still uncracked. Struck slightly off center to K-7. Graded VF35 net VF20 and tied for CC#9 in the Bland census. Noyes says EF40 net VF30 and tied for CC#2, his photo #25904.Certificate Number: Pedigree: Ex L. S. Werner 4/3/1952-C. Douglas Smith 3/1974-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-Myles Z. Gerson 3/1977-Denis W. Loring 12/1977-Myles Z. Gerson-Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1798 S-177 R4+ Style II Hair, Small 8, PCGS graded XF45Choice glossy medium chocolate and olive brown with frosty lighter brown in protected areas on the obverse. The surfaces are perfectly smooth except for fine die rust off the end of the bust (as struck). Just trivial marks, mostly tiny ticks on the cheek, neck, and inside the wreath. A tiny rim nick over the F in OF is the best identifying mark. MDS, Breen state III, with die cracks and clashmarks. Graded VF25 and tied for CC#2 in the Bland census behind a marginally finer example. Noyes says VF35 net VF30 and tied for CC#1, his photo #25848. Our grade is VF25+, very close to VF30. A very significant cent, and the eye appeal is superb for the grade. Comes with a provenance that is nearly a century old.Certificate Number: 36101.45/61275945Pedigree: Ex James G. Macallister 5/12/1931-Frank Hussey, New Netherlands Coin Co. 4/22/1960:1401-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:492-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-Chuck Furjanic-Dr. Robert J. Shalowitz 7/1974-C. Douglas Smith 12/1976-Denis W. Loring 12/1977-Myles Z. Gerson-Denis W. Loring 11/1980-Fred H. Borcherdt Collection

1798 S-178 R5+ Style II Hair, Reverse of 1796 VF30Very attractive glossy chocolate brown and light olive with lighter brown toning in protected areas on the reverse. This cent has great eye appeal, especially for a variety that usually comes with serious problems. Lightly worn with no hint of corrosion or verdigris and only a few small contact marks. The notable ones are a trio of small nicks in a line up from the top of the hair ribbon and a dull vertical nick hidden in the die rust off the chin. The reverse is essentially flawless. LDS, Breen state IV. A pair of strong die cracks extend through the date and the fields on the obverse are rough from heavy die rust. A clear die crack arcs from the second T in STATES to the first A in AMERICA. Dr. Philip Ralls, a previous owner of this cent, considered this piece to be the choicest S-178 known. We have examined the four finest known examples, and we agree. The obverse is plated in Dr. Sheldon's Early American Cents and Penny Whimsy. Called VF25 and CC#2 in the Bland census. Noyes says EF40 net VF25 (reason for the deduction unknown) and CC#1, his photo #23263. This cent isn't the rarest variety in the collection, but it is a highlight based on it's exceptional quality. And it comes with a very impressive provenance, as you would expect.Certificate Number: Pedigree: Ex a Philadelphia collector, Henry Chapman 3/1930:128-Henry C. Hines-Dr. William H. Sheldon-traded by Sheldon into the Anderson DuPont collection-Stack's (Anderson DuPont Sale) 9/25/1954:253-Abe Kosoff-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:493-John W. Adams-Denis W. Loring 3/13/1978-C. Douglas Smith 4/1992-Eric J. Streiner 4/1992-Dr. Philip W. Ralls, McCawley & Grellman Auctions/Goldbergs 1/26/2014:570-Fred H. Borcherdt Collection (includes the Doug Smith collection envelope and lot envelopes from the DuPont and Naftzger sales)

1798 S-179 R2 Small 8, Style II Hair, PCGS graded MS65 BrownLustrous tan and light olive brown with traces of mellowed mint red on both sides. Satiny and virtually flawless with mint frost covering even the highest points of the devices. The best identifying features are a subtle puff of darker olive toning on the swollen area left of the lowest curls and another in the field before the neck. LDS, Breen state V late. There is a very narrow rim cud over the D with an extension to above ST. Dull die clashmarks show on both sides. The E over Inverted E in AMERICA is clear. Graded MS65 and finest known in the Bland census. Noyes says MS65 and tied for CC#1, his photo #26096. Our grade is MS65. A premium cent in every respect; the only one seen with the D-ST rim cud.Certificate Number: 36104.65/57538519Pedigree: Ex Stack's (privately) 12/1983-Herman Halpern 2/28/1986-C. Douglas Smith 7/8/1988-Fred H. Borcherdt Collection (includes the Stack's and Doug Smith envelopes)

1798 S-180 R5+ Small 8, Style II Hair F12Glossy chocolate and darker olive brown. This cent is several points sharper than the assigned grade but it was expertly recolored. Mostly smooth with traces of extremely fine roughness under the glossy toning. No verdigris, only a few minor marks including a tiny planchet chip on the upper edge of the bust and another near the rim over the upper end of the hair ribbon. MDS, Breen state III, with a strong cud break at TATE but no die crack at UN. Graded VF20 net VG8 by Noyes, his photo #32388.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1798 S-181 R3 Small 8, Style II Hair VF25Ten points sharper but the fields and protected areas on the reverse are covered with fine granularity. The obverse is smooth and choice, and the toning on both sides is an attractive and mostly glossy light olive brown and chocolate with lighter brown in some protected areas. The only marks are a small nick on the rim off the upper edge of the bust and a nick at the leaf tip below the F in OF. LDS, Breen state IV, with a slightly raised retained cud break at the end of the bust. Graded VF30 and tied for CC#10 in the Bland census. Noyes says EF40 net VF25 and tied for CC#10, his photo #26013.Certificate Number: Pedigree: Ex Robert J. Kissner, Stack's 6/27/1975:318-Myles Z. Gerson-Denis W. Loring 1/1980-Fred H. Borcherdt Collection

1798 S-182 R4 Small 8, Style II Hair EF40Glossy light olive speckled with darker olive brown. Frosty lighter brown and tan shows in protected areas on both sides. The only notable defects are a faint planchet lamination in the field near the dentils off the chin (as struck), and a light rim bruise at ED in UNITED. MDS, Breen state II, with a die clashmark at the throat. Graded EF45 and CC#2 in the Bland census. Not evaluated by Noyes. Comes with an important provenance.Certificate Number: Pedigree: Ex Ira S. Reed 2/24/1940-Judge Thomas L. Gaskill, New Netherlands Coin Co. (privately) 11/1956-Dorothy I. Paschal-Dr. William H. Sheldon-R. E. "Ted" Naftzger, Jr.-Fred H. Borcherdt Collection (includes the Reed sales envelope)

1798 S-183 R5 Small 8, Style II Hair VF25Glossy medium olive and chocolate brown with darker olive brown toning on the forehead, neck, and bust. Each of the darker spots contains a trace of microscopic verdigris. Otherwise the surfaces are smooth with trivial contact marks including a nick under the E in LIBERTY and two tiny ticks in the field before the throat. LDS, Breen state II, with fine vertical die lines through LIBER. Graded VF25 and tied for CC#6 in the Bland census. Noyes says VF25 net VF20 and tied for CC#5, his photo #26006. Comes with a very nice provenance.Certificate Number: Pedigree: Ex William K. Raymond-James F. Ruddy-Abner Kreisberg 11/1967-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:499-William K. Raymond 11/1973-William R. T. Smith 1/1975-Myles Z. Gerson 3/1977-Denis W. Loring 12/1977-C. Douglas Smith 8/1980-Fred H. Borcherdt Collection

1798 S-184 R1 Small 8, Style II Hair VF30Considerably sharper but there are specks of dark crud scattered over the obverse, possibly glue or a similar substance that could be dissolved and removed. Otherwise there is very little wear and the toning is mostly light to medium brown and olive with light bluish steel overtones. No notable signs of contact. LDS, Breen state IV, with narrow rim cuds on the reverse.Certificate Number: Pedigree: Ex MC-Denis W. Loring 1/1980-Fred H. Borcherdt Collection

1798 S-185 R2 Small 8, Style II Hair VF30Very attractive glossy medium chocolate brown and steel. Smooth with light wear and great eye appeal, but there are some fine hairline scratches on the face, a light scuff at the top of RTY, and a dull but light scratch off the upper end of the hair ribbon. The reverse is choice. E-MDS, Breen state III, with a light die crack from the T in LIBERTY to the rim opposite the end of the nose. Graded EF40 and tied for CC#2 in the Bland census. Noyes says EF40 net VF30 and tied for CC#5, his photo #26050. A nice cent in spite of the few marks, and it comes with an important provenance.Certificate Number: Pedigree: Ex David Proskey-Henry C. Hines-Dr. William H. Sheldon-Dorothy I. Paschal 2/1972-Dr. Dane B. Nielsen-Myles Z. Gerson-Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1798 S-185 R2 Small 8, Style II Hair F12Glossy dark chocolate brown and steel with lighter brown on the devices. Mostly smooth but there is very fine roughness in protected areas on the reverse. The only marks are a dull rim nick at the right top of the Y and a minor rim bruise just above the bust tip. Rare TDS, Breen state VIII, with a cud break at IC in AMERICA. All the die cracks on the obverse are strong.Certificate Number: Pedigree: Ex Jack H. Robinson, Superior 1/29/1989:385-Richard V. Punchard-Fred H. Borcherdt Collection (includes the Punchard collection envelope)

1798 S-186 R2 Small 8, Style II Hair VF35A sharp, attractive cent with just a touch of friction on the devices, but there are faint vertical hairlines in the field behind the portrait. Otherwise the only mark is a light scuff at the upper edge of the curl on the neck, and it is not easy to see. The eye appeal of this cent is quite nice. Frosty light olive and chocolate brown. M-LDS, Breen state VII, with a cud break at 00 to the rim below. Graded EF40 and CC#4 in the Bland census. Noyes says VF35 net VF25, his photo #26026.Certificate Number: Pedigree: Ex Christian M. Petersen 10/4/1954-Willard C. Blaisdell 8/1977-Denis W. Loring 12/1977-Myles Z. Gerson-Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1798 S-187 R1 Small 8, Style II Hair AU50Choice frosty golden tan with darker steel brown toning on the highpoints. The surfaces are satiny and the eye appeal of this cent is outstanding. Essentially flawless with just a light touch of friction on the devices. A beautiful cent, essentially flawless. M-LDS, Breen state IV, with die cracks on both sides and a cud break at the rim before the nose. Graded AU50 net EF45 (not a clue why there is a deduction) and tied for CC#7 in the Noyes census, his photo #28907. A premium example of a neat die state.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1798 NC-1 R7 Style I Hair, Small 8 G5A sharp cent with very little actual wear, but it is covered with moderate to strong corrosion. There are no marks or traces of verdigris, and the toning is a surprisingly attractive and slightly glossy light chocolate brown. The date and legends are complete and clear, even strong. EDS, Breen state I, before the obverse die cracked. Only 8 examples are known, and this is certainly one of the most sharply detailed. Tied for CC#6 based on a photo comparison.Certificate Number: Pedigree: Ex Darwin B. Palmer, Jr., 6/2008-Fred H. Borcherdt Collection

1799/8 S-188 R4 Overdate 9 over 8, PCGS graded VF20Glossy chocolate brown and steel. Smooth with light wear and very nice eye appeal. There is no trace of roughness or verdigris, only minor contact marks including a tiny rim bruise under the second 9. A small spot of lighter golden tan toning at the second T in STATES is the best identifying mark. MDS, Breen state II, with die clashmarks but no crack on the obverse. Struck slightly off center to K-4. Graded VF25 and tied for CC#5 in the Bland census. Noyes says VF25 net VF20 and tied for CC#5, his photo #25682. Our grade is VF20+. The date is strong and the overdate feature is obvious. Comes with a great provenance that has been traced back well over a century.Certificate Number: 36131.20/57516992Pedigree: Ex Lorin G. Parmelee, New York Coin & Stamp Co. 6/25/1890:774-Harlan P. Smith, S. H. & H. Chapman 4/16/1897:783-George H. Earle, Jr., Esq., Henry Chapman 6/25/1912:3414-Hillyer Ryder 5/1945-Wayte Raymond, New Netherlands Coin Co. 9/26/1953:267-Dorothy I. Paschal-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:504 (as VF25)-Robert R. Shaw 8/1980-Fred H. Borcherdt Collection

1799/8 S-188 R4 Overdate 9 over 8, PCGS P/FR Detail, Environmental DamageSteel and olive brown with a hint of gloss, but both sides are covered with uniform fine to moderate porosity. No verdigris and the only mark is a very light rim bruise off the bust. Not a pretty cent, but the portrait and LIBERTY are clear and about a third of the devices on the reverse can be made out. And with some imagination you can sense a bit of the date. But it takes no imagination to see the massive die crack through RTY to the rim off the end of the nose. This is the strongest version of the crack seen among the 9 cracked examples known. Graded Basal State-1 by both Bland and Noyes, but this piece is clearly superior to the other two that are graded at that same level. Our grade is Fair-2.Certificate Number: 36131.97/52085730Pedigree: Ex Bill Fivaz (who acquired it unattributed in 12/1988), 1989 EAC Sale, lot 110 (where misattributed as NC-1)-Darwin B. Palmer, Jr.-Fred H. Borcherdt Collection

1800/798 S-190 R3 Style I Hair, Overdate 800 over 798 VF30+Choice glossy medium chocolate brown and steel. The surfaces are satiny and this cent has fantastic eye appeal for the grade. Smooth with just a few trivial contact marks including a couple small ticks off the upper end of the hair ribbon, a short horizontal nick over NT in CENT, and a small rim nick at the second A in AMERICA. LDS, Breen state III, with die chips at RICA and the fraction. The 8/7 overdate feature is clear. Graded VF30 and tied for CC#5 in the Bland census. Noyes says VF35 net VF30 and tied for CC#5, his photo #25937. A beautiful cent with a great provenance.Certificate Number: Pedigree: Ex David Proskey-Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1848-M. L. Kaplan-C. Douglas Smith-Dr. Hiram T. Ward 11/1978-Fred H. Borcherdt Collection

1800/798 S-191 R3 Style I Hair, Overdate 800 over 798 VF35Glossy medium chocolate brown. Sharply detailed with smooth surfaces and very light wear. Just a few minor marks including a tiny rim bruise left of the lower curls and a barely visible rim bruise right of the D in UNITED. M-LDS, Breen state VI, with die failure over ST and small but clearly defined rim cuds at the E in UNITED and C in AMERICA. The overdate is visible on all three digits (800 over 798). Graded VF35 and tied for CC#4 in the Bland census. Noyes says VF35 net VF30 and tied for CC#8, his photo #26842. A very nice example of this "Redbook" variety.Certificate Number: Pedigree: Ex James C. Ralls, Stack's 6/1970:1221-George Ramont-Fred H. Borcherdt Collection (includes the Stack's lot envelope)

1800/79 S-192 R3 Style II Hair, Overdate 80 over 79 VF35Glossy chocolate and medium olive brown with hints of reddish brown in protected areas. Lightly worn with only trivial marks including a tiny rim bruise at IB in LIBERTY and a tiny planchet flake in the dentils opposite the upper edge of the bust. M-LDS, Breen state III, with die cracks on the reverse but no cud breaks. The overdate is clearly visible (80/79). Graded EF45 and CC#3 in the Bland census. Noyes says EF45 net VF30 and tied for CC#5, his photo #21291. This is the Breen plate coin for the variety in his 2000 reference on the cents of 1793-1814. Comes with a great provenance.Certificate Number: Pedigree: Ex James G. Macallister, J. C. Morgenthau & Co. 1/1944:430-unknown-Gimbel's Coin Department (Robert Friedberg, New York City) 1949-C. Douglas Smith 1971-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:272-C. Douglas Smith-Denis W. Loring-Douglas F. Bird 3/1996-Wesley A. Rasmussen, Heritage Auctions 1/13/2005:3225 (mistakenly withdrawn for return to the ANS, but this was the wrong coin)-Fred H. Borcherdt Collection

1800/79 S-193 R4 Style II Hair, Overdate 80 over 79 VF30+Glossy medium chocolate with lighter steel brown on the devices. Smooth and choice except for a collection of microscopic planchet flakes on the cheek and a very shallow lot spot in the field under the chin. Otherwise just trivial marks including a very light hairline scratch from the E in ONE to the N in CENT. Nicely struck E-MDS, Breen state II late, with die cracks on the reverse. The overdate feature (80/79) is bold. Graded VF35 and CC#2 in the Noyes census, his photo #27383. Not seen by Bland. Another important 1800 cent in this superior collection.Certificate Number: Pedigree: Ex James E. Long-Fred H. Borcherdt Collection

1800/79 S-194 R3 Style II Hair, Overdate 80 over 79 EF45Glossy brown and light olive with speckles of darker olive brown on the obverse. Sharply struck with just a light touch of friction on the highpoints. Only minor marks including a thin nick off the upper end of the hair ribbon, a nick on the shoulder, and a small chip low on the neck. The fields are hard and slightly reflective but they do show extremely faint hairlines if you get the light at just the right angle. E-MDS, Breen state III, with a very light die crack through CA and the fraction bar to under the left end of the ribbon where it fades out. A double profile shows on the forehead, lips, chin, and neck. Not seen by Bland or Noyes.Certificate Number: Pedigree: From England-American Heritage Minting (Billy Paul)-Steve Fischer 2/1985-Fred H. Borcherdt Collection

1800/79 S-194 R3 Style II Hair, Overdate 80 over 79 EF45Glossy medium brown with mint frost in the protected areas. Sharply struck with very light wear on the devices and great eye appeal. The notable marks are a collection of very light ticks in the field near the dentils before the nose, some microscopic planchet chips over the E in CENT, and a small, inconspicuous corrosion spot nestled against the rim cud at the second A in AMERICA. M-LDS, Breen state VI, with rim cuds at the C and from the adjacent A clockwise to under the 1 in the denominator. Graded EF45 net EF40 and tied for CC#11 in the Noyes census, his photo #26177. The overdate feature (80/79) is clear.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1800/79 S-195 R5 Style II Hair, Overdate 80 over 79 F15Sharpness VF35 with light scratches on both sides, mostly in the field before the portrait and at STATES. Otherwise the planchet is smooth with trivial marks including a tiny rim bruise off the lower end of the hair ribbon. Glossy light to medium olive blending to darker olive brown and chocolate in protected areas on the reverse. E-MDS, Breen state II, with a dull die crack through the base of ERTY. Graded VF35 net VF20 and tied for CC#6 in the Bland census. Noyes says VF35 net F15 and tied for CC#8, his photo #25802.Certificate Number: Pedigree: Ex Darwin B. Palmer 7/18/1979-Philip Van Cleave 1/30/1986:5213-James R. McGuigan-Fred H. Borcherdt Collection (includes the Van Cleave collection envelope)

1800/79 S-195 R5 Style II Hair, Overdate 80 over 79 VG7+Glossy light to medium olive and steel brown. Mostly smooth with just small contact marks, nice for the grade. A thin vertical nick at the right top of the second 0 in the date and a thin nick over the first S in STATES can help identify this cent. Semi-unique TDS, Breen state V, with a bold cud break at TY to the rim before the end of the nose. Graded VG8 net G6 and tied for CC#1 with the John Wright collection example in the Noyes census, his photo #39471. The Wright coin (which we sold as lot 365 in our sale of the Daniel W. Holmes, Jr. Collection with the Goldbergs on 9/7/2009), is a couple points sharper but with more significant surface problems. That coin brought $1782.50 in the auction. Here is another chance for the serious collector of significant die states.Certificate Number: Pedigree: Ex Douglas F. Bird 6/1999-Dr. Bruce Reinoehl-Fred H. Borcherdt Collection (includes the Reinoehl collection envelope)

1800/79 S-196 R1 Style II Hair, Overdate 80 over 79 EF40+Choice glossy chocolate brown and steel. Smooth with light wear on the devices and superb eye appeal. Just a few trivial marks from flawless including a tiny diagonal hairline in the field behind the head and a tick or small planchet chip under the left edge of the E in STATES. M-LDS, Breen state III early, with a very light die crack through the E into the hair below. The vertical die lines in the fields on the upper part of the obverse are still clear. Graded EF40 and tied for CC#9 in the Bland census. Noyes says EF40 Choice and tied for CC#8. A beautiful cent that comes with a nice provenance.Certificate Number: Pedigree: Ex Barney Bluestone 9/1937:790-Judge Thomas L. Gaskill, New Netherlands Coin Co. (privately) 11/1956-Dorothy I. Paschal-Del N. Bland-Dr. Robert J. Shalowitz 3/1973-Frank Simon-Del N. Bland-Willard J. Carmel, Jr.-Jack H. Beymer-Steve Fischer-Fred H. Borcherdt Collection

1800/79 S-196 R1 Style II Hair, Overdate 80 over 79 EF45Glossy light olive and steel brown with peeps of frosty faded red in protected areas thanks to a light cleaning long ago. Sharp with just a light touch of friction on the highpoints. The only marks are some very faint hairlines on the obverse and a few microscopic planchet flakes above and below the N in ONE (as struck). TDS, later than anything mentioned in the Breen reference. The die crack through the E into the hair is strong and there are additional fine die cracks up from the hair ribbon and from the Y arcing to the rim off the end of the nose. In addition there is a clearly defined rim cud at RI in AMERICA, a unique die state to the best of our knowledge. Graded EF45 and tied for CC#3 in the Bland census. Noyes says EF45 net EF40 and tied for CC#8. Another special die state in this remarkable collection.Certificate Number: Pedigree: Ex Hance Jaquett Auction 1/1980-Fred H. Borcherdt Collection

1800 S-197 R1 AU50Sharply struck with just a hint of friction on the highest points of the devices, but there are microscopic hairlines on both sides. Has the look of a mint state cent that was improperly brushed. Frosty light chocolate and steel brown with faded red in some of the protected areas. The best identifying mark is a vertical planchet flake in the field before the chin. M-LDS, Breen state III, with small lumps (from die rust) scattered over both sides. The cud break at IB is strong. Graded AU55 and tied for CC#6 in the Bland census. Noyes says MS60 net EF40 and tied for CC#16, his photo #26101.Certificate Number: Pedigree: Ex Hance Jaquett 2/1980-Fred H. Borcherdt Collection

1800 S-198 R5+ VG7Several points sharper with fine roughness on both sides, mostly on the reverse. No verdigris or contact marks, just a few pits including a couple on the N in ONE and another on the numerator of the fraction. Rather glossy medium brown and chocolate, the obverse darker in the center and lighter near the rim. The obverse is mostly glossy, the reverse less so due to the microscopic roughness. Probably recolored long ago. Extremely rare terminal die state, Breen state VI, with a strong cud break at MER. Called VG7 and tied for CC#6 in the Bland census. Noyes says F12 net VG7 and tied for CC#3 overall but tied for finest known of the terminal die state. Another great die state in the Borcherdt Collection.Certificate Number: Pedigree: Ex Copley Coin Co. 8/1959-Dorothy I. Paschal-Thomas P. Wolf, McCawley & Grellman Auctions/Goldbergs 2/2008:1225-Fred H. Borcherdt Collection

1800 S-199 R5+ PCGS graded XF45Choice glossy light to medium chocolate brown with frost in protected areas. Smooth with light wear and trivial marks. The eye appeal of this cent is superb; you just can't find circulated 1800 cents that look this good. The only marks are a few trivial ticks in the field off the hair ribbon. E-MDS, Breen state III, with clashmarks on both sides and a die crack at ED. Struck slightly off center affecting only the dentils. Graded VF35 and CC#2 behind the ANS example in the Bland census. Noyes says VF35 Choice and tied for CC#2 behind that same ANS piece, his photo #21851. Our grade is VF35. This is the plate coin for the die variety in the 1991 Noyes reference. This is not the most valuable cent in the Borcherdt Collection, but it is one of the most impressive.Certificate Number: 36185.45/61275962Pedigree: Ex J. H. Wright-W. B. Housel, New Netherlands Coin Co 6/13/1967:1215-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection

1800 S-199 R5+ F12+Sharpness VF20 but there is some extremely fine roughness on the upper part of the obverse, mostly in the field behind the head. Additional fine roughness shows inside the wreath, but most of the planchet is smooth and the eye appeal of this cent is excellent. No verdigris, just a few trivial marks including a tiny rim nick over the I in LIBERTY and a very small rim bruise at that Y. TDS, Breen state VIII late, with all the cracks and swelling mentioned by Breen. The cud break at the F in OF is bold. Graded F15 net VG10 by Noyes and the finest only 3 in the latest die state.Certificate Number: Pedigree: Ex Thomas D. Reynolds 4/11/1997-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection (includes the Reinoehl collection envelope)

1800 S-200 R3 PCGS graded XF40Beautiful glossy light chocolate brown with frosty lighter brown and golden tan faded down from mint color in protected areas on the reverse. Smooth with great eye appeal and just minor marks. The notable marks are a short, light scratch just off the ends of the hair ribbon and a small nick in the field close before the eye. Rare EDS, Breen state I, with die clashmarks but no cracks. Fine mostly vertical die polishing lines cover the fields on the reverse and there are very shallow low spots inside the wreath (caused by debris/lubricant on the die). Graded VF35 and tied for CC#1 in the Bland census. Noyes says EF45 net VF35 and tied for CC#2 behind the ANS example, his photo #25849. Our grade is EF40. Another superior 1800 cent in this collection.Certificate Number: 36188.40/61275963Pedigree: Ex the Willis Estate (Philadelphia) 1965-Daniel's Jewelers (Daniel Borda) 7/1985-Fred H. Borcherdt Collection

1800 S-200 R3 VG10Slightly sharper but there is some microscopic granularity on the reverse, mostly at RICA. Otherwise the surfaces are smooth and the only marks are some shallow planchet flakes around the ear. Mostly glossy medium chocolate brown and steel. M-LDS, Breen state VIII, with a bold rim cud break at TAT in addition to the other cracks and swelling. Struck about 5% off center to K-2.5 thereby exposing the full size of the cud break at TAT. Noyes graded F12 net VG10 and tied for CC#25 of the die variety but finest with the full cud visible.Certificate Number: Pedigree: Ex Donald K. Valenziano, Jr.-Thomas D. Reynolds-Fred H. Borcherdt Collection

1800 S-201 R4+ PCGS graded VF30. Glossy medium chocolate and steel brown with lighter brown on the devices. The surfaces are smooth and the best identifying marks are some darker olive brown toning at IB in LIBERTY and a small spot of similar toning tucked up against the nostril. LDS, Breen state VI, with a short crack down to the left from the left foot of the 1 in the date. The bulges, cracks, and clashmarks are strong. Graded F12 and tied for CC#4 in the Bland census. Noyes says VF20 net F12 and tied for CC#4, his photo #21277.Certificate Number: Pedigree: Ex Coin Galleries (Stack's) 5/24/1984:1032 (as S-202)-Denis W. Loring 1/1984-R. E. "Ted" Naftzger, Jr.-Eric J. Streiner-Fred H. Borcherdt Collection (includes the Naftzger collection envelope)

1800 S-202 R4+ PCGS graded AU53. Choice glossy medium chocolate brown with a puff of reddish brown toning at the C in CENT. The surfaces are smooth and mint frost covers the protected areas on both sides. A wonderful cent, nearly flawless with very light wear on the highpoints and outstanding eye appeal. LDS, Breen state VII, with die cracks and strong swelling on both sides. A great example of a spectacular die state; most in this die state come in very low grade. The reverse of this cent is plated in the 1991 Noyes reference to show the late die state. Graded EF40 Choice and CC#2 in the Noyes census, his photo #21722. Bland says EF40 and CC#3 in his census. Our grade is EF40++, very close to EF45. A beautiful, very impressive cent.Certificate Number: 36194.53/38205998Pedigree: Ex Charles J. DuPont, Stack's (Anderson-DuPont Sale) 9/24/1954:300-Abe Kosoff-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:517-Dr. Byron M. Stuart-Gordon J. Wrubel-Jerry A. Bobbe-Chuck Furjanic, Kagin's Numismatic Auctions #305, 1/1975:489-Chuck Furjanic-Jerry A. Bobbe-Myles Z. Gerson-Jerry A. Bobbe 1978-William R. T. Smith-William C. Noyes 8/18/1982-William R. T. Smith-William C. Noyes-Del Bland 8/12/1983-Jack H. Robinson, Superior 1/29/1989:426-Douglas F. Bird Collection, Goldbergs 2/16/2020:74-Fred H. Borcherdt Collection

1800 S-203 R3 VF35Very attractive glossy medium chocolate brown and light olive with smooth surfaces and mint frost in protected areas. A sharp cent with very little wear, but there is a scratch under MERI into the adjacent C that lowers the grade. Otherwise just a couple trivial marks of no significance. MDS, Breen state III, with die clashmarks on both sides. Graded VF35 by Del Bland and tied for CC#6 in his census. Noyes says EF45 net VF35 and tied for CC#5, his photo #26227. An attractive cent in spite of the mark, and it comes with a great provenance.Certificate Number: Pedigree: Ex Dr. George P. French, B. Max Mehl 1929 FPL, lot 248-Henry A. Sternberg 8/1930-T. James Clarke 10/1954-R. E. "Ted" Naftzger, Jr.-Denis W. Loring 5/1971-Dr. Dane B. Nielsen-Myles Z. Gerson 10/1980-Fred H. Borcherdt Collection

1800 S-204 R4 PCGS graded XF45A sharp cent with smooth surfaces and very nice eye appeal, but there are fine scratches on both sides. All the scratches are light and blended nicely into the attractive toning, and the eye appeal of this cent is quite nice. The only scratch visible to the unaided eye is a light horizontal one from the lowest curl. The reverse is nearly choice; just a single fine scratch left of OF. Glossy steel brown and chocolate with frosty lighter brown in protected areas. M-LDS, Breen state VI, with a die crack and die failure right of the Y. Graded VF35 net VF25 and CC#12 in the Noyes census, his photo #37792. Our grade is EF40 sharpness net VF25.Certificate Number: 36200.45/61468278Pedigree: Ex McCawley & Grellman Auctions/Superior 9/1998:12-Fred H. Borcherdt Collection

1800 S-205 R4 PCGS XF Detail, Altered SurfacesGlossy steel brown and chocolate with frosty lighter brown and golden tan in protected areas, especially on the reverse. Lightly worn with smooth surfaces and very nice eye appeal, but there are some marks that keep this cent from a higher grade. The notable marks are a few dull scratches on the neck and a couple thin planchet fissures left of the lowest curls (as struck). M-LDS, Breen state III early. The die crack at TRY reaches the end of the ribbon and the denominator, and the dull die clashmarks at TY and to the right are clear. Graded VF35 net VF30 and CC#11 in the Noyes census, his photo #25979. Our grade is VF35+ sharpness net VF30.Certificate Number: 36203.94/61468279Pedigree: From the Fred H. Borcherdt Collection

1800 S-206 R3 VF25Glossy olive brown and chocolate. Smooth with very nice eye appeal and the sharpness of a higher grade,, but there are a few contact marks including a couple nicks under the curl on the neck and a thin one left of the L in LIBERTY. In addition the edge has been lightly smoothed; not sure why since there is no evidence of marks on the rims. The smoothing is not visible from either the obverse or reverse. MDS, Breen state II, with die cracks on both sides. Graded VF30 and tied for CC#6 in the Bland census. Noyes says VF30 net VF25 and tied for CC#8, his photo #25826. Comes with a great provenance.Certificate Number: Pedigree: Ex George H. Clapp-Henry C. Hines-Dr. William H. Sheldon-Dorothy I. Paschal 11/1977-William R. T. Smith-Denis W. Loring 1978-Fred H. Borcherdt Collection

1800 S-207 R3 VF25Glossy medium chocolate brown with traces of frosty lighter brown on the reverse. Sharp and smooth, but there are some marks keeping it from a higher grade. The notable marks are a collection of small nicks on the bust and lower neck, some more at the E in ONE and the leaf above, and fine hairlines on the obverse. None of these marks is distracting but there are too many to ignore at this grade level. MDS, Breen state II, with die clashmarks above LIB and a cud break touching the bottom of the first 0 in the denominator. Graded VF35 net VF20 and tied for CC#10 in the Noyes census, his photo #25579.Certificate Number: Pedigree: Ex Richard V. Punchard, Bowers & Merena 3/1996:288-Fred H. Borcherdt Collection

1800 S-207 R3 F15At least 5 points sharper but there are some contact marks on otherwise smooth, attractive surfaces. The notable marks are a relatively strong nick under the earlobe, a couple rim nicks over the E in LIBERTY, and some very fine hairline scratches across the face. Only the nick below the earlobe catches your eye. Glossy steel brown and chocolate with lighter brown on the left side of the obverse. Extremely rare TDS, Breen state V, with a huge retained cud break that virtually obliterates RICA and most of the denominator. The opposing details at IBERTY are severely weakened because the cud used up most of the planchet metal. Graded F15 Choice and finest of the terminal die state in the Noyes census, his photo #21804. The second finest example is impounded in the ANS Collection. This is the Noyes plate coin for the variety in his 1991 reference. A showpiece coin for anyone who loves significant die states; one of the most impressive cud breaks on any large cent.Certificate Number: Pedigree: Ex Lohr-Stack's auction-Eugene Exman-Dorothy I. Paschal-Ray Chatham-R. E. "Ted" Naftzger, Jr., 1990 EAC Sale, lot 53-Fred H. Borcherdt Collection (includes the Paschal and Naftzger collection envelopes)

1800 S-208 R3 VF25Sharpness EF45 with great color, no contact marks, and smooth surfaces except a dozen relatively pits of various sizes on the reverse. The obverse is a "WOW" coin, clearly the finest known of the die variety if the reverse was comparable. No verdigris, and the eye appeal of the reverse isn't horrible. Glossy steel brown and chocolate with lighter brown in protected areas. Probably retoned long ago but the color is really nice. E-MDS, Breen state II early, with die failure at TY but the rim cud has not formed. The fields on both sides are smooth and slightly reflective, and there are fine die clashmarks on both sides, strongest on the obverse. Graded EF45 net VF30 and tied for CC#3 in the Bland census. Noyes says EF40 net VF20 and tied for CC#3, his photo #25814.Certificate Number: Pedigree: Ex Jack Collins, Bowers & Ruddy 10/1977:842-William R. T. Smith, 1979 EAC Sale, lot 107-Denis W. Loring-Fred H. Borcherdt Collection

1800 S-209 R3 PCGS AU Detail, Altered SurfacesChoice glossy chocolate and olive brown with slightly lighter brown in protected areas. Hints of mint frost show in protected areas and this cent has great eye appeal. Smooth with light wear on the devices and trivial marks. The notable marks are a tiny rim bruise at the Y, a small tick (might be a planchet flake) on the cheek, and another light rim bruise at the second S in STATES. MDS, Breen state V, with die clashmarks on both sides. There is a double profile on the upper lip and bottom edge of the jaw (from die shift or "machine doubling)." Graded EF40 and tied for CC#7 in the Bland census. Noyes says EF45 net EF40 and tied for CC#4, his photo #25870. Our grade is EF40+. "Altered Surfaces"? You decide. Our grade is EF40+. Comes with a nice provenance.Certificate Number: 36215.94/61468280Pedigree: Ex John P. Young, M. H. Bolender 9/1951:171-R. E. "Ted" Naftzger, Jr.-Denis W. Loring 1/1972-Dr. Dane B. Nielsen-Myles Z. Gerson 11/1980-Fred H. Borcherdt Collection

1800 S-210 R5+ PCGS AU Detail, CleanedVery attractive frosty light olive brown and chocolate. A sharp cent with just a light touch of friction on the highpoints, but there are microscopic horizontal hairlines on the portrait. The strike is a bit uneven due to the die faces being out of perfect axial alignment (the die faces not perfectly parallel). As a result the bottom of the obverse and top of the reverse are softly struck while everything else is strong. The notable marks are a few light scratches at the shoulder and lowest curl, a tick on the rim let of the L, and a small planchet chip hidden in the hair left of the neck (as struck). E-MDS, Breen state III, with very strong die clashmarks from RICA at the Y and clockwise to before the nose. The narrow rim cud from the fraction to the adjacent A is strong. This is the Noyes plate coin for the variety in his 1991 reference. Graded AU55 and CC#1 in the Bland census. Noyes says AU55 net EF45 and tied for CC#1, his photo #20524. Our grade is EF45 sharpness net EF40. An impressive example of a tough die variety in spite of the imperfections, and it comes with a nice provenance.Certificate Number: 36218.92/61468281Pedigree: Ex Raymond Gallo 8/1959 (via Dorothy I. Paschal)-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection (includes the Naftzger collection envelope)

1800 S-210 R5+ PCGS graded XF40Glossy light olive brown and chocolate. Smooth with very nice eye appeal and just a few contact marks, the only significant one being a diagonal nick under the hair ribbon. The strike is uneven, a universal characteristic of the latest die state. Most of the cent would grade VF20 and choice, but the strike weakness at the lowest curl and the opposing area at TED ST affects the overall grade. TDS, Breen state VIII, with a die crack at the top of the obverse and a bold cud break at AME on the reverse. This is the finest example of the terminal die state known to us. Graded F15 and CC#5 overall in the Bland census. Noyes says VF20 and tied for CC#4 overall but finest of the die state, his photo #26687. Our grade is F15+, very close to VF20. This is the Noyes plate coin for the terminal die state in his 1991 reference.Certificate Number: 36218.40/61275964Pedigree: Ex George Ramont-Fred H. Borcherdt Collection (includes the Ramont collection envelope)

1800 S-211 R3 PCGS graded AU53Glossy mix of light to medium brown and light to medium olive. Smooth and attractive but possibly lightly cleaned long ago, now nicely retoned. No marks, only trivial dirt in some protected areas on the reverse. LDS, Breen state VIII early, with an crack meandering through ES in STATES and die rust lumps right of the D in UNITED. Struck 5-10% off center to K-12 (the PCGS label says 5% but it looks like slightly more on the obverse, perhaps a bit less on the reverse). The upper half of LIBERTY is off the planchet but the numerator is on the planchet, just tight to the edge. Graded EF40 net VF30 and tied for CC#4 for the variety in the Noyes census, his photo #62053. Graded VF35 and CC#4 in the Bland census. Our grade is VF30+. A very nice cent, especially impressive with the mint error.Certificate Number: E1449.53/35617849Pedigree: Ex R. L. Miles, Jr., Stack's 4/1969:102-Michael R. Kirzner-Denis W. Loring-Eugene Exman, Heritage Auctions 6/2015:3079-2018 ANA Sale (Stack's Bowers), lot 297-Fred H. Borcherdt Collection

1800 S-212 R3 PCGS graded AU Detail, CleanedGlossy olive brown and lighter chocolate with some frosty lighter brown in protected areas on the reverse. Sharply struck with just a bit of friction on the highpoints and smooth surfaces except for some granularity at STAT. No verdigris, and the only contact marks are a nick on the chin, another in the field to the right, and a smaller one high on the cheekbone. The color is attractive and looks original, but the cent may have lightly cleaned long ago and beautifully retoned naturally over the decades. MDS, Breen state II, with some small lumps from die rust on both sides and a light die clashmark right of the E in ONE. Graded AU50 net EF40 and tied for CC#4 in the Bland census. Noyes says EF45 net VF35 and tied for CC#8, his photo #39048. Our grade is EF45 net EF40. Comes with an interesting provenance.Certificate Number: 36224.92/61468282Pedigree: Ex Dr. William H. Sheldon-ANS 2001 (in exchange for the improperly obtained original ANS coin)-R. E. "Ted" Naftzger, Jr. (via William C. Noyes)-Fred H. Borcherdt Collection

1800 NC-3 R5+ G4Glossy chocolate brown with smooth surfaces except for an obvious planchet void or rough dent in the hair right of the hair ribbon. Otherwise just minor contact marks, mostly light rim bruises. MDS with the usual swelling at the lower curls. The date and legends are clear except for weakness at STA thanks to the swelling; the diagnostic spike up from the top of the I in AMERICA is obvious. Graded G5 net G4 by Noyes, his photo #26207. Not the most valuable cent in this collection, but one of the most meaningful.Certificate Number: Pedigree: Identified as a rare die variety in April 1976 after residing for four years in Fred's date set. Coveted by Jules Reiver but never surrendered.

1801 S-213 R2 PCGS graded AU58, CAC ApprovedFrosty light to medium chocolate brown and steel with lustrous lighter steel brown and tan toning in protected areas. Slightly darker steel brown toning shows on the highpoints. No spots or stains, only a few trivial contact marks. The best identifying marks are a shallow nick-like planchet void in the field over the hair ribbon and a dull horizontal nick nestled between the E in STATES and the dentils above. Nicely struck MDS, Breen state IV. There is a die crack through ICA to the denominator and sharp die clashmarks from the U to the denominator. The earlier die cracks on both sides and the lumps in the field left of the hair ribbon are clear. A very nice example of this variety. Graded EF40 and CC#3 in the Noyes census, his photo #29467. Bland says EF45 and tied for CC#2 among the confirmed examples in his census. Our grade is EF45+, close to AU50.Certificate Number: 36236.58/32788779Pedigree: Ex New Netherlands Coin Co. #15, 11/16/1960:399-C. Douglas Smith 1971-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:313-Tony Terranova-Stack's-Andrew W. Hain, Stack's 1/15/2002:744-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:238-Fred H. Borcherdt Collection

1801 S-214 R3 PCGS graded MS62+ BrownLustrous light to medium brown and light olive with generous traces of mint red on the reverse. Frosty with no trace of friction or rub, but the strike is soft on the bust tip and the opposing area at S-O (as usually seen on this variety, a condition noted on page 614 in the Breen encyclopedia). There are some small spots of slightly darker toning at the end of the bust along with some tiny planchet chips in the area due to the soft strike there. The best identifying mark is a small nick under the right side of the N in ONE. M-LDS, Breen state II, with obvious die rust in the field left of the hair ribbon and die cracks on the reverse. Graded MS61 and CC#3 in the Bland census. Noyes says MS60 and CC#3, his photo #32606. Our grade is MS60+. This is the plate coin for the die variety in the 2000 Breen encyclopedia on the cents of 1793 to 1814.Certificate Number: 36239.62+/57538520Pedigree: Ex Carl Wurtzbach-Charles Wheeler, 1976 ANA Sale (Stack's), lot 353-William R. T. Smith-Myles Z. Gerson 1982-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:314-Larry Hanks (Hanks & Associates)-Kenneth Alterman-Larry Hanks (Hanks & Associates)-James R. McGuigan-Fred H. Borcherdt Collection

1801 S-215 R4+ PCGS graded MS61 BrownLustrous light steel brown with slightly faded mint red in some of the protected areas on the obverse. The surfaces are satiny and this cent has outstanding eye appeal. Would rate a higher grade but there are microscopic ticks in the obverse fields, none visible to the unaided eye but too many to ignore at this grade level. E-MDS, Breen state II, with sharp die clashmarks on both sides and obvious swelling left of the lower curls. A beautiful cent. Graded AU55 and CC#2 in the Bland census. Noyes says MS63 Choice and tied for CC#1, his photo #20568. Our grade is MS62. The folks at PCGS missed on this one in our opinion. This is the plate coin for the variety in the 1991 Noyes reference.Certificate Number: 36242.61/61275947Pedigree: Ex George S. Lockwood-University of Michigan, Joseph Lepczyk 7/1984:75-Robert E. Matthews-C. Douglas Smith-Herman Halpern, Stack's 3/16/1988:189 (as MS63)-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection

1801 S-216 R1 PCGS graded MS62 BrownLustrous light steel brown mottled with reddish tan and darker steel brown toning on the obverse. Traces of mint red remain visible on both sides, especially on the reverse. The only notable marks are two small nicks over the eye and a few tiny ticks hidden in the hair left of the ear. The reverse is choice and the eye appeal of this cent is quite nice in spite of the uneven toning on the obverse. MDS, Breen state II, with dull die clashmarks on both sides and sharp dentils over STA without any hint of a rim cud in that area. The bust tip is well struck, which is a big plus for a variety that often comes with significant weakness in that area. Graded MS60 and tied for CC#3 in the Noyes census, his photo #35464. Bland says MS62 and tied for CC#4. Our grade is MS60+. A relatively common die variety but one that is difficult to find in top grades.Certificate Number: 36245.62/38259619Pedigree: Ex an East Coast Collection (acquired at the convention in Baltimore 11/14/1998)-Douglas F. Bird Collection, Goldbergs 2/16/2020:83-Fred H. Borcherdt Collection

1801 S-217 R6+ PCGS graded VF35Glossy light olive brown with lighter brown on the highpoints. Smooth and very attractive with minor contact marks including two small nicks on the chin and another under the eye. E-MDS, Breen state II early, with a bulge in the field at the lowest curl. Graded VF25 and CC#3 in the Bland census. Noyes says VF35 net VF25 and CC#3, his photo #26000. Our grade is VF25, A really nice example of this classic rarity.Certificate Number: 36248.35/61275948Pedigree: Ex George E. Mattor 11/21/1963-Lillian S. Williams 8/1971-Willard C. Blaisdell 10/1974-Denis W. Loring 3/1979-Fred H. Borcherdt Collection

1801 S-218 R5+ 3-Error Reverse PCGS graded F12+T186Glossy light olive brown blending to darker olive in protected areas. Mostly smooth but there is some unevenness in the fields and traces of crud in protected areas on the reverse. A thin planchet fissure right of the D in UNITED is the only notable mark. EDS, Breen state I, with no hint of a bulge at RTY. The legends are complete and clear including all 3 of the die-cutter errors on the reverse. Graded VG10 and CC#4 in the Bland census. Noyes says F12 net VG10 and tied for CC#5, his photo #26213. Our grade is VG10Certificate Number: 36269.12/52085734Pedigree: Ex W. Hagen 11/1986-Thomas D. Reynolds-Darwin B. Palmer, Jr.-Fred H. Borcherdt Collection

1801 S-219 R2 3-Error Reverse, PCGS graded VF20Glossy brown and light chocolate with a spot of dark olive brown toning in the field before the neck. The surfaces are smooth but there are some contact marks including a pair of light rim bruises left of the lower curls and another at D-S on the reverse. M-LDS, Breen state V late, with two arcing die cracks through UNIT and the wreath below. All 3 of the die-cutter errors are clear. Our grade is F15.Certificate Number: 36272.20/61275965Pedigree: From the Fred H. Borcherdt Collection

1801 S-220 R3 Error Fraction 1/000 PCGS graded XF40Choice glossy brown and chocolate with frosty lighter brown and tan in protected areas and darker steel brown on the highpoints. Smooth with light, even wear and great eye appeal. Just a few small marks including a couple light nicks or planchet chips on the neck and a few ticks at the E in CENT. E-MDS, Breen state III, with die cracks on both sides, clashmarks on the obverse, and a narrow rim cud right of the Y in LIBERTY. Struck with the reverse rotated 35 degrees CCW. Graded VF25 and tied for CC#9 in the Bland census. Noyes says VF30 Choice and tied for CC#4, his photo #26108. Our grade is VF30. Comes with a nice provenance.Certificate Number: 36275.40/61468283Pedigree: Ex Ernest Henderson 1958-Dorothy I. Paschal-C. Douglas Smith-William R. T. Smith-Jack H. Beymer 7/11/1982-C. Douglas Smith-Fred H. Borcherdt Collection

1801 S-220 R3 Error Fraction 1/000, PCGS graded AU53Frosty golden tan and light steel brown with slightly darker steel brown on the highpoints. There are some small puffs of darker olive brown on the obverse, mostly at LIBERTY. The only notable contact marks are an arc of impressed dentils on the bust into the field. M-LDS, Breen state VII, with die cracks on both sides, a series of small cuds under the date, and a rim cud connecting AM to the rim. Graded EF45 and tied for CC#1 in the Bland census. Noyes says AU55 net EF45 and tied for CC#1, his photo #21794. Our grade is EF45. This is the plate coin for the die variety in the 1991 Noyes reference. A great examples of an interesting die state.Certificate Number: 36275.53/61275966Pedigree: Ex Richard Picker-Abe Kosoff 11/28/1962-R. E. "Ted" Naftzger, Jr., 2/23/1992-Eric J. Streiner-Fred H. Borcherdt Collection (includes the Naftzger collection envelope)

1801 S-221 R2 Corrected denominator 100 over 000, PCGS graded AU55Choice glossy chocolate brown and steel. Sharp and smooth with just a light touch of wear on the devices. The only "defect" is a bit of dirt in protected areas around the wreath. Sharply struck MDS, Breen state III, with a narrow but clearly defined rim break at F-A. The Corrected Denominator feature is strong. Graded AU50 net EF45 and tied for CC#4 in the Noyes census, his photo #26109. Our grade is EF45+.Certificate Number: 36284.55/61275967Pedigree: Ex James R. McGuigan-Fred H. Borcherdt Collection

1801 S-222 R1 EF45Frosty medium brown and chocolate with hints of reddish tan faded down from mint color in protected areas on the reverse. A sharp, very attractive cent. The only defect is some shallow crud hidden in the hair near the forehead. Otherwise very close to AU50. Sharply struck EDS, Breen state I, before the narrow rim cud at IB. The fields are smooth and there are no die clashmarks on either side. Graded EF45 and tied for CC#6 in the Bland census. Noyes says EF45 net EF40 and tied for CC#6, his photo #25921. Well struck for the variety.Certificate Number: Pedigree: Ex Henry Chapman (via Miss Ella Wright) 11/27/1937-Judge Thomas L. Gaskill-New Netherlands Coin Co (privately) 11/1956-Dorothy I. Paschal 1977-William R. T. Smith-Fred H. Borcherdt Collection

1801 S-222 R1 VG10+Attractive glossy steel brown with chocolate brown toning in protected areas. A small triangular planchet chip at the throat is the only notable defect. Softly struck at OF but everything else is strong and the date is bold. Extremely rare LDS, Breen state IV, with a strong cud break that connects NIT to the rim, tied for second finest of only 6 known in this terminal die state. Called F15 net F12 by Noyes, photo #32409.Certificate Number: Pedigree: Ex Del N. Bland 4/1979-John D. Wright Collection 1/18/2006-J. R. "Bob" Grellman, Jr. & Chris McCawley 4/3/2006-Daniel W. Holmes, Jr., McCawley & Grellman Auctions/Goldbergs 9/6/2009:423-Fred H. Borcherdt Collection

1801 S-223 R1 PCGS graded VF30Glossy light olive brown and chocolate. Smooth with light even wear and no notable marks. M-LDS, Breen state V, with a rim cud at RT that does not touch the Y. Our grade is VF25. A very nice mid-grade cent.Certificate Number: 36278.30/61468284Pedigree: Ex Dean Johnson 1976-Fred H. Borcherdt Collection

1801 S-224 R1 PCGS graded AU50Frosty light tan with glossy dark steel brown on the highpoints. Smooth with trivial marks including a small puff of dark toning under the lowest curl and another tucked against the bottom of the chin. A couple tiny rim nicks at the L in LIBERTY are the only notable signs of contact. Lightly worn and quite attractive for the grade. E-MDS, Breen state I, before the rim cud at AME. Graded EF45 net EF40 and CC#5 in the Noyes census, his photo #25703. Our grade is EF40.Certificate Number: 36254.50/61275969Pedigree: Ex James R. McGuigan-Fred H. Borcherdt Collection

1801 NC-1 R5+ PCGS graded AU50Choice glossy light to medium chocolate with some frosty lighter brown in protected areas. Mint frost covers the protected areas, especially on the reverse, and this cent has great eye appeal. Just a few trivial marks and very light wear on the devices. A tiny tick or chip in the field before the forehead is the best identifying mark. LDS, Breen state II, with a linear internal cud break between the die cracks over TES. Graded VF35 and CC#2 in the Bland census. Noyes says VF35 Choice and CC#2, his photo #25973. Our grade is VF35+. The reverse grades a solid EF45 thanks to the higher rim on that side. A truly remarkable example of this rare variety; slightly more than three dozen known today with most grading Good or less. This is the Breen plate coin for the variety. Comes with a great provenance.Certificate Number: 36257.50/61275949Pedigree: Discovered unattributed in an antique shop in Berkeley, California, in 1966-Robert W. Miller, Sr.-Walter Breen-Dorothy I. Paschal-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr. 2/1975-Denis W. Loring 6/1977-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:315-Denis W. Loring 5/1987-Fred H. Borcherdt Collection

1801 NC-3 R6 Error Fraction 1/000 G5Glossy olive brown and chocolate with lighter brown toning on the devices. Mostly smooth with microscopic roughness in the fields and protected areas. No verdigris and just a few minor marks including a few old, light scratches in the field under the hair ribbon and a light rim bruise left of the hair ribbon. The date and legends are complete and clear. Graded G6 net G5 and tied for CC#6 in the Noyes census, his photo #25698. About two dozen are known and the finest grades VG8 by EAC grading standards.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1802 S-225 R3 PCGS graded AU53Very attractive glossy brown and light chocolate with frosty light brown and tan in protected areas. The surfaces are smooth and there is just a light touch of friction on the highpoints. Would rate a higher grade but there is a nick on the jawline near the earlobe. Otherwise this cent is choice. E-MDS, Breen state III, with die clashmarks and fine cracks but no cud break under the date. Graded AU50 by Del Bland. Our grade is EF45.Certificate Number: 36290.53/61275970Pedigree: Ex C. Douglas Smith 1953-Dorothy I. Paschal-Fred H. Borcherdt Collection (includes the Paschal collection envelope)

1802 S-226 R3 PCGS graded AU58Choice frosty light to medium brown. Satiny mint luster shows in the fields and protected areas and this cent has superior eye appeal. Nearly flawless with very light friction on the highpoints and no notable marks. A subtle puff of slightly darker brown toning under the O in ONE is the best identifying mark. MDS, Breen state III, with a narrow rim cud under the date and fine die clashmarks on both sides, but the obverse is uncracked. Struck with the obverse slightly misaligned to K-5. Our grade is AU50.Certificate Number: 36293.58/61275971Pedigree: From the Fred H. Borcherdt Collection

1802 S-228 R2 Error Fraction 1/000 VF25+Glossy olive brown and reddish chocolate with lighter steel brown on the highpoints. Lightly worn and attractive but there are some defects including a spot of very fine roughness on the upper edge of the bust at the neck, a nick in the field over the lower curls, a minor abrasion on the rim at the L in LIBERTY, and a dull nick in the wreath below the E in UNITED. EDS, Breen state I, before any die rust or clashmarks on the obverse. Graded VF35 net VF25 and tied for CC#22 in the Noyes census, his photo #25669. The Error Fraction 1/000 feature is clear.Certificate Number: Pedigree: Ex Larry Briggs 1982-Fred H. Borcherdt Collection

1802 S-229 R2 VF30Glossy olive brown and steel with traces of lighter brown in protected areas on the obverse. Lightly worn with smooth surfaces and nice eye appeal,, but there are a couple small carbon spots: one in the field before the eye and a smaller one near the dentils before the neck. Otherwise just a few tiny marks including a tiny dig at the dentils under the lowest curl. MDS, Breen state IV, with a die crack at ERTY and fine die clashmarks on both sides. Graded VF35 and tied for CC#6 in the Bland census. Noyes says EF40 net VF30 and tied for CC#7, his photo #26234.Certificate Number: Pedigree: Ex Donald Ballou 3//2/1968-C. Douglas Smith 12/1981-Fred H. Borcherdt Collection

1802 S-230 R1 VF30Very attractive glossy medium olive brown and steel with mint frost in protected areas on the reverse. Lightly worn with excellent eye appeal, just minor contact marks including a light scratch at the bottom of the E in ONE. M-LDS, Breen state IX early, with several die cracks on the upper part of the reverse and obvious die rust on the bust and at the date. Graded VF30 net VF25 and tied for CC#20 in the Noyes census, his photo #26170.Certificate Number: Pedigree: Ex Dean Johnson 6/1976-Fred H. Borcherdt Collection

1802 S-231-R1 Stemless Wreath VF35Choice glossy light olive and medium brown with a wisp of darker olive brown at the L in LIBERTY. Traces of mint frost show in protected areas, particularly on the reverse, and this cent has very nice eye appeal. A tiny tick over the C in CENT is the best identifying mark. MDS, Breen state V, with die cracks on the obverse and dull clashmarks on the reverse. There is a clear double profile on the forelock and from the end of the nose down to the bottom of the neck (from die shift). Graded VF35 net VF30 and tied for CC#25 in the Noyes census, his photo #29155.Certificate Number: Pedigree: Ex Stack's (privately)-Fred H. Borcherdt Collection (includes the Stack's sales envelope)

1802 S-232 R1 PCGS graded AU53Frosty light olive and medium brown with hints of mint luster and great eye appeal. Just a touch of friction on the highest points of the devices and a few trivial marks including a faint hairline scratch in the field before the eye and a speck of yellow crud at the right pendant of the first T in STATES. An incipient planchet clip affects the dentils off the hair ribbon. MDS, Breen state IV early. Both sides have die clashmarks and the crack at OF is faint. Graded EF45 net EF40 and tied for CC#20 in the Noyes census. Our grade is EF45. A sharp, very attractive cent.Certificate Number: 36305.53/61468285Pedigree: Ex George Ramont-Fred H. Borcherdt Collection (includes the Ramont collection envelope)

1802 S-233 R2 AU50Glossy chocolate brown and steel with mint frost in protected areas, particularly on the reverse. The toning is a slightly darker share of olive brown at the bust tip and left of the O in OF. A very sharp cent with the barest hint of rub on the highpoints, but there are some small marks. The notable marks are a dull rim nick right of the Y, a few fine hairline scratches at the right side of the Y, some tiny ticks hidden in the hair at the ear, and a barely visible rim bruise right of the date. The surfaces are smooth but there are traces of crud in protected areas on the reverse. Sharply struck E-MDS, Breen state II early. There are die clashmarks on both sides but the bulge at the bust tip has not formed. Graded MS60 net AU55 and tied for CC#1 in the Bland census. Noyes says AU55 net EF45 and tied for CC#2 honors with the ANS example.Certificate Number: Pedigree: Ex Ben Mayer-Robert Walcott 3/1981-Fred H. Borcherdt Collection

1802 S-234 R3 VF25Mostly glossy mix of light brown and tan, medium olive brown, and splashes of darker olive brown. The surfaces are smooth except for traces of extremely fine roughness in the darkly toned areas. Traces of verdigris can be found in many of the protected areas. A sharp cent, just not perfect. MDS, Breen state IV late, with a rim cud at the B in LIBERTY but no crumbling on the leaf below CA. Graded EF40 net VF30 and CC#9 in the Bland census. Noyes says VF35 net VF20 and tied for CC#16, his photo #25710.Certificate Number: Pedigree: Ex Jonathan Kern 5/1984-Fred H. Borcherdt Collection

1802 S-235 R3 PCGS graded MS62 Brown, CAC ApprovedThe obverse is a very attractive lustrous light to medium steel brown and tan with underlying very faded mint red peeking through in protected areas. The reverse is a more subdued frosty light olive and steel brown with sea-green overtones and lighter brown and tan in protected areas. The highpoints are free of rub and the only marks are a few small planchet chips on the bust and very light abrasions at the top of the wreath. M-LDS, Breen state V, with a strong rim cud break at RTY. The bust tip and the opposing area around OF are softly struck (as usual in this die state), but everything else is nicely detailed. The fine hair details near the forehead and face are especially sharp. Graded AU55 and CC#3 in the Noyes census, his photo #39966. Bland says AU55 and tied for CC#3. Our grade is AU58+, very close to MS60. A great cent with a complicated but impressive provenance.Certificate Number: 36314.62/32982299Pedigree: Ex John P. Lyman, S. H. Chapman 11/1913:422-Henry Chapman 6/1914:1813-Henry C. Hines-Dr. William H. Sheldon 1945-George H. Clapp-ANS-transferred from the ANS to R. E. "Ted" Naftzger, Jr., 1/26/2001 as part of the settlement for cents apparently switched out by Dr. Sheldon (via William C. Noyes 5/20/2003)-Thomas D. Reynolds Collection, McCawley & Grellman Auctions/Goldbergs 1/31/2016:265-Fred H. Borcherdt Collection

1802 S-236 R1 PCGS graded AU58Frosty steel brown with lighter brown and golden tan faded down from mint color in protected areas and darker steel brown on the highpoints. Essentially flawless with very light friction on the devices and great eye appeal. A faint spot of slightly darker brown toning connecting the bases of the O & N in ONE can help identify this cent. Terminal die state, Breen IX, with a cud break connecting ST to the rim and strong die clashmarks before the throat. Graded AU50 net EF45 and tied for CC#9 overall in the Noyes census but third finest of the terminal state, his photo #29864. Our grade is EF45.Certificate Number: 36317.58/61275973Pedigree: Ex William C. Noyes-Fred H. Borcherdt Collection

1802 S-237 R2 PCGS graded AU58Glossy steel brown and chocolate with frosty light steel brown in the fields and protected areas. A sharp cent with just a light touch of friction on the highpoints, but there are several notable marks. There is a dull rim nick at the I in LIBERTY, another left of that L, two more at TES, a dull dig at the base of ES, and another over NE in ONE. In addition there is an area of planchet roughness in the hair left of the shoulder, probably as struck but it still counts. MDS, Breen state V, with fine die cracks on the reverse. Graded AU55 net EF40 and tied for CC#12 in the Noyes census, his photo #28026. Our grade is EF45+ sharpness net EF40. Looks really nice at first glance.Certificate Number: 36320.58/52085740Pedigree: Ex R. Clay 1989-Denis W. Loring-Thomas D. Reynolds-Tom Morey-G. Lee Kuntz, Superior 10/6/1991:789-Anthony J. Terranova, Stack's 1/1993:1138 (as AU55)-Stack's FPL 1993 & 1994-Fred H. Borcherdt Collection

1802 S-238 R4 VF25+Glossy medium brown and light chocolate with splashes of reddish brown on both sides, mostly on the reverse. Most of the planchet is perfectly smooth but many of the reddish areas contain traces of very fine roughness. No verdigris, just a few marks including a dull linear depression in the field above the hair ribbon and some small ticks over the N in ONE. MDS, Breen state III, with strong die clashmarks at LIBERTY and several fine die cracks on the reverse. Graded VF30 and tied for CC#1 in the Bland census. Noyes says EF40 net VF25 and tied for CC#6.Certificate Number: Pedigree: Ex Stack's (privately) 1950-C. Douglas Smith 3/1974-Denis W. Loring 5/1974-Dr. Robert J. Shalowitz-C. Douglas Smith 9/1980-Fred H. Borcherdt Collection

1802 S-238 R4 F12Sharper than the assigned grade, particularly on the reverse, but there are traces of silver (or some other light metal) plating in protected areas on the reverse. The rest of the planchet is glossy dark olive brown and steel. The surfaces are smooth and the only notable mark is a tiny nick or chip high on the neck. Extremely rare TDS, Breen state V, with a strong rim cud at TATE. This is the finest of only 5 known with this cud break. Graded VF25 net VG10 in the Noyes census, his photo #39478. Another unsurpassed example of a significant die state in this collection.Certificate Number: Pedigree: Ex James E. Long 6/21/2000-Dr. Bruce M. Reinoehl-Fred H. Borcherdt Collection (includes the Reinoehl collection envelope)

1802 S-239 R3 VF20Sharper by at least 5 points but there is a faint reddish brown stain in the hair at the shoulder, and microscopic roughness shows in the stained area. Otherwise the surfaces are smooth and the toning is a very attractive glossy medium brown and light chocolate. Just a few minor marks including a vertical nick left of the L in LIBERTY. LDS, Breen state V, with a raised retained cud break between the two cracks arcing from the face (the so-called "elephant" die state).Certificate Number: Pedigree: Ex Dr. George P. French-B. Max Mehl 1929 FPL, lot 295-unknown-Kagin's 10/14/1983:1272-Fred H. Borcherdt Collection

1802 S-240 R3 VF30Mostly glossy light olive brown and chocolate with areas of lighter brown on both sides and hints of reddish brown in protected areas on the reverse. Looks smooth but a glass reveals extremely fine roughness in the reddish areas on the reverse. A shallow planchet flake on the neck and another at the base of the O in OF are the best identifying marks (both as struck). M-LDS, Breen state III late. The die crack up from the bust is clear and it reaches the rim before the eye. Graded VF30 and tied for CC#4 in the Bland census. Noyes says VF30 net VF20 and tied for CC#12, his photo #25700.Certificate Number: Pedigree: Ex Robert F. Batchelder-Dr. Lawrence A. Matternes, Lester Merkin 10/1973:327-C. Douglas Smith 10/1981-Fred H. Borcherdt Collection

1802 S-241 R1 Stemless Wreath with Doubled Fraction Bar VF30At least 5 points sharper but there is a minor stain at the lowest curl and a very light rim bruise at the T in LIBERTY. There are a couple specks of crud or verdigris at the dentils in the stained area, but you need a glass to find them. Glossy chocolate brown with slightly lighter brown in the stained area and frosty tan in protected areas on the reverse. An attractive cent in spite of the minor distractions. E-MDS, Breen state II, with a single die crack on the reverse and die clashmarks on both sides. The Stemless Wreath feature is obvious, the Doubled Fraction Bar is clear, and the repunching at the second S in STATES is bold.Certificate Number: Pedigree: Ex Ellis Robison, Stack's 2/10/1982:429 (as VF35)-Fred H. Borcherdt Collection

1802 S-242 R2 MS63Highly lustrous golden light olive and steel brown with generous traces of mint red remaining on both sides, especially on the reverse. Satiny mint frost covers this cent and the eye appeal is superb. Essentially a flawless cent except for a few inconspicuous scratches: one high on the neck, another down from the right end of the foot of F in OF to the leaf tip below and the final one through the left foot of the second A in AMERICA. None of these marks is visible to the unaided eye. Otherwise this cent is an absolute gem. Nicely struck LDS, Breen state III, with die clashmarks on both sides and a crack through NIT to the dentils at both ends. Graded MS62 and CC#1 as the only true mint state example in the Noyes census, his photo #40008. Not seen by Bland; the finest in his census grades AU55. Our grade is MS63. Removed from a PCGS holder graded MS64+ with CAC approval. A beautiful cent, the undisputed finest known of the die variety.Certificate Number: Pedigree: Ex W. G. Crowther (Boston Coin Co.) circa 1890-Fred Crowther (son) circa 1960-John M. Ahern, Sr., McCawley & Grellman Auctions/Superior 2/18/2002:1280-Douglas F. Bird Collection, Goldbergs 2/16/2000:100 (as PCGS graded MS64+, CAC)-Fred H. Borcherdt Collection

1802 NC-1 R5 PCGS graded VF30Glossy brown and light chocolate with medium steel brown toning on the highpoints. Smooth with trivial contact marks, but there is a spot of very fine verdigris at the left side of the L in LIBERTY. Sharply struck EDS, Breen state II, with a fine die crack confined to the portrait, clearest from the earlobe to the bust. Graded F15 and tied for CC#3 in the Bland census. Noyes says VF25 net F15 and tied for CC#3, his photo #25675. Our grade is F15+. About five dozen are known but the majority of those are in grades of Good or less.Certificate Number: 36335.30/52085731Pedigree: Ex R. K. "Knox" Ivey, 1981 EAC Sale, lot 188-Fred H. Borcherdt Collection

1802 NC-2 R6- Fair-2Mostly glossy medium brown and light chocolate. The highpoints are smooth but the fields and protected areas are covered with fine to moderate roughness. No verdigris or significant contact marks. A wisp of darker chocolate brown toning on the obverse can help identify this cent. The date is weak, particularly the 2, but the die crack at RTY is easily visible. Graded Fair 2 by Bland and Noyes, Noyes photo #26121. About two dozen are known and most grade Good or lower.Certificate Number: Pedigree: Acquired unattributed in 11/1987 and added to the Fred H. Borcherdt Collection

1803 S-243 R2 Stemless Wreath with Doubled Fraction Bar, PCGS graded AU55Glossy steel and olive brown with frosty tan in the fields and protected areas. The surfaces are smooth and there are no notable signs of contact, but the toning is uneven, particularly on the reverse. A spot of darker chocolate toning at the chin is a good identifying mark. E-MDS, Breen state II, with dull die clashmarks at RICA but before the narrow rim cud right of TY. Graded EF40 and tied for CC#11 in the Bland census. Noyes says EF45 net VF30 and tied for CC#14, his photo #21159. Our grade is EF45 sharpness net EF40. The die-cutting errors on the reverse are obvious.Certificate Number: 36419.55/61275974Pedigree: Ex Pacific Coast Auction Galleries 9/1983:9-Dennis R. Heller-James Halfon-Douglas F. Bird-Fred H. Borcherdt Collection

1803 S-244 R4 PCGS graded AU53Glossy chocolate and steel brown with frosty lighter brown and tan in some of the protected areas. Smooth with minor contact marks including a few small ticks off the upper end of the hair ribbon. The fields are hard and slightly reflective. MDS, Breen state II; struck with freshly polished dies and weakened hair details below ER. Graded VF30 and tied for CC#4 in the Bland census. Noyes says VF35 and CC#3, his photo #26033. Our grade is VF35. A very attractive example of a variety that is quite difficult to find in grades above VF20.Certificate Number: 36350.53/61275975Pedigree: Ex Thomas J. Wass III, NY & NJ Auction Sales 3/1959:685 (as XF45)-C. Douglas Smith 11/1982-Fred H. Borcherdt Collection

1803 S-245 R3 PCGS AU Detail, CleanedChoice glossy chocolate and olive brown. Smooth with light wear and very nice eye appeal. A tiny tick on the upper edge of the drapery above the 3 is the best identifying mark, and you need a glass to see it. The toning looks original and quite attractive. MDS, Breen state II, with a small but clearly defined triangular cud in the dentils over the left side of the N in UNITED. Noyes graded VF35 net VF30, his photo #26122. Our grade is EF45.Certificate Number: 36353.92/52084641Pedigree: From the Fred H. Borcherdt Collection

1803 S-246 R3 PCGS AU Details, CleanedGlossy light olive brown and light chocolate with lighter brown in the fields and protected areas. There are a few small puffs of reddish brown toning on the obverse including one near the hair below the ribbon that contains a speck of verdigris. Otherwise the surfaces are smooth but there are some extremely faint hairlines visible under strong magnification. Sharply struck EDS, Breen state I, before the "Mumps" break at the throat. Graded EF40 and tied for CC#4 in the Bland census. Noyes says EF40 net VF35 and CC#6, his photo #22934. Our grade is EF5 net EF40. This is the plate coin for the reverse in the 1925 Howard Newcomb reference on the cents of 1801-1803.Certificate Number: 36356.92/52084637Pedigree: Ex Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:400-Dr. Angus C. Black, New Netherlands Coin Co. 6/1970:139-C. Douglas Smith 3/30/1992-Eric J. Streiner 4/23/1992-Fred H. Borcherdt Collection

1803 S-247 R3 "Mumps Obverse" PCGS graded XF45Glossy medium chocolate brown. Smooth with light wear and trivial marks. The only notable defects are a few tiny rim nicks over ERTY and a light scratch at the N in UNITED. EDS, Breen state I, with die clashmarks but no cracks on the reverse. The "Mumps" break at the throat is clear. Graded VF35 net VF30 and tied for CC#17 in the Noyes census, his photo #37784. Our grade is VF35.Certificate Number: 36359.45/52085737Pedigree: Ex Ellis Robison, Stack's 2/10/1982:430-Fred H. Borcherdt Collection

1803 S-248 R4 "Mumps Obverse" PCGS graded AU53Glossy chocolate and steel brown with lighter brown in protected areas. Sharp and very attractive, void of contact marks but there is a tiny planchet chip at the dentils just left of the first S in STATES (as struck). Close to receiving a slightly higher grade but there is fine dirt in protected areas on both sides. Sharply struck EDS, Breen state I, before any swelling or die cracks. Graded EF40 and tied for CC#5 in the Bland census. Noyes says EF40 net VF35 and CC#5, his photo #26230. Our grade is EF40. The "Mumps" break at the throat is strong.Certificate Number: 36362.53/52084646Pedigree: Ex Gary W. Wallin Auctions 1/1977:9-Gary W. Wallin (privately) 7/1977-Fred H. Borcherdt Collection

1803 S-249 R2 Corrected Denominator 100/000, PCGS graded XF45Glossy medium olive brown and chocolate. Sharp and smooth with very nice eye appeal, but there are a few contact marks. A small chip on the rim left of the lower curls, a few ticks on the neck, some tiny rim nicks at ER in LIBERTY, and a dull nick on the ribbon right of the numerator are the notable marks. Otherwise this cent would rate a slightly higher grade. MDS, Breen state IV, with die cracks but no cuds. Graded EF45 net EF40 and tied for CC#14 in the Noyes census, his photo #36897. Our grade is EF40+ sharpness net VF35. The "Mumps" break is bold and the Corrected Denominator feature is clear.Certificate Number: 36416.45/52085742Pedigree: From the Fred H. Borcherdt Collection

1803 S-250 R3 PCGS graded AU55Frosty golden tan faded down from mint color with darker steel brown toning on the highpoints. A planchet flake between the E & R in LIBERTY and a small but sharp rim nick at the E in AMERICA are the only significant marks. MDS, the usual die state, with lightly flowlined fields. Graded EF45 net EF40 and tied for CC#15 in the Noyes census, his photo #20507. Our grade is EF45.Certificate Number: 36365.55/52084629Pedigree: Ex Stack's 2/1971:46-R. S. "Robbie" Brown, Jr., Superior 9/30/1986:368-Gary M. Ruttenberg 1990-R. S. "Robbie" Brown, Jr., Superior 1/27/1996:347-Douglas F. Bird, 2002 EAC Sale, McCawley & Grellman Auctions, lot 323-Paul Gerrie, McCawley & Grellman Auctions/Goldbergs 2/3/2013:66-Fred H. Borcherdt Collection

1803 S-251 R2 EF40+Frosty light to medium olive brown and steel with hints of lighter brown and tan in protected areas. Sharply struck and smooth with excellent eye appeal. The only notable marks are a barely visible rim bruise left of the lower curls and a faint diagonal hairline from the cheek to the upper part of the neck. Neither mark is visible to the unaided eye. E-MDS, Breen state II, with faint swelling at the lowest curl. Graded AU50 net EF40 and tied for CC#21 in the Noyes census, his photo #32655.Certificate Number: Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1803 S-252 R2 PCGS graded AU55Beautiful glossy steel brown with lustrous golden tan faded down from mint color in protected areas and darker steel brown on the highpoints. Smooth with great eye appeal and just a few trivial ticks in the obverse fields. Looks choice but a glass reveals some extremely faint hairlines on the portrait. MDS, Breen state III, with a die crack through the base of the date ending left of the lowest curl.. Graded EF45 and tied for CC#9 in the Bland census. Noyes says EF45 Choice and tied for CC#4, his photo #33134. Our grade is EF45. Struck slightly off center to K-3 affecting only the dentils.Certificate Number: 36371.55/52084630Pedigree: Ex John Rowe III (Southwest Numismatic Corp.)-George E. Ewing, Jr.-Del N. Bland-Dr. Philip W. Ralls-Douglas F. Bird-Fred H. Borcherdt Collection

1803 S-253 R2 EF45+Glossy olive brown with peeps of very faded mint color on the reverse. Sharp and choice if not for a couple puffs of reddish brown toning in the field before the face and another at CA. Just a few trivial contact marks including a pair of thin, very light diagonal nicks over the bust. Rare EDS, Breen state I, with an uncracked obverse. Graded EF45 and tied for CC#5 in the Bland census. Noyes says AU50 net EF45 and tied for CC#10 overall but finest of the early die state, his photo #23273.Certificate Number: Pedigree: Ex Sheraton Coin Co., 1947 ANA Sale (Numismatic Gallery), lot 872-Willard C. Blaisdell-Del N. Bland-Dr. Dane B. Nielsen 4/22/1972-Jeffery M. Peck 3/26/1975-C. Douglas Smith 3/30/1992-Eric J. Streiner 4/23/1992-Fred H. Borcherdt Collection

1803 S-254 R1 VF35Glossy steel brown and light chocolate with a spot of lighter reddish brown toning at TE in STATES. A sharp cent with nice eye appeal, but the obverse fields are covered with very fine hairlines and the spot at TE is covered with microscopic roughness. The rest of the planchet is smooth and void of notable marks. Sharply struck MDS, Breen state III, with a die crack arcing through the end of the bust. Graded EF40 net VF30 by Noyes, his photo #25944.Certificate Number: Pedigree: Ex John Adams 8/1980-Fred H. Borcherdt Collection

1803 S-255 R1 PCGS AU Detail, CleanedGlossy light olive with darker steel brown toning on the highpoints. Smooth and attractive, but this cent may have been recolored long ago. There are a few tiny contact marks on the cheek and neck, but none of them catches your eye. TDS, Breen state IV, with a bold cud break at STA. Graded EF45 net EF40 and tied for CC#21 overall but finest of those known with the full cud break in the Noyes census, his photo #29159. Our grade is EF45 net VF35.Certificate Number: 36380.92/61468286Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1803 S-256 R3 VF35+Glossy olive brown and steel with frosty golden tan in protected areas. Smooth and choice, essentially flawless with very light wear and outstanding eye appeal. MDS, Breen state IV, with clashmarks on both sides and die cracks on the reverse. Graded EF40 and tied for CC#10 in the Bland census. Noyes says VF35 Choice and tied for CC#13, his photo #25659.Certificate Number: Pedigree: Ex Harold E. Whiteneck (Sheraton Coin Co.) 5/29/1949-C. Douglas Smith 9/1981-Fred H. Borcherdt Collection

1803 S-257 R2 Small Date, Large Fraction VF20Mostly glossy tan and light chocolate with a few splashes of reddish brown toning on the obverse. A sharp cent with light wear and decent eye appeal, but there are defects. A glass reveals traces of fine roughness and verdigris in a few of the reddish areas, and there are numerous dull scratches on both sides. The notable marks are a couple dull scratches in the field at the ends of the hair ribbon, dull scratches tucked against the profile from the chin to the bottom of the neck, and a dull scratch inside the right loop of the wreath ribbon. The eye appeal of this cent is better than the technical grade. LDS, Breen state IV late, with die cracks on the reverse, die clashmarks on both sides, and heavy swelling at the top of the reverse. Graded EF40 net VF25 and tied for CC#18 in the Noyes census.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1803 S-258 R1 Small Date, Large Fraction, PCGS graded MS64 BrownChoice lustrous golden tan and light steel brown with traces of very faded mint red on the obverse. Satiny and virtually flawless with superior eye appeal. A speck of carbon on the truncation over the left side of the 0 is the only marks, and it is difficult to see. M-LDS, Breen state III late, with a die crack arcing through the curls and subtle swelling inside the outline of the crack. Graded MS63 and tied for CC#1 in the Bland census. Noyes says MS62 and tied for CC#5, his photo #39886. Our grade is MS63. Removed from an NGC holder graded MS65BN (NGC label #581844-001 included, and it shows the attribution).Certificate Number: 36398.64/61275950Pedigree: Ex W. H. Spedding, S. H. & H. Chapman 12/1894:810-George H. Earle, Jr., Esq., H. Chapman 6/25/1912:3428-H. Chapman, H. Chapman 6/24/1914:1817-unknown-Milton A. Holmes, Stack's 10/5/1960:1442-Louis Helfenstein, Lester Merkin 8/14/1964:36-Charles "Shotgun" Slade III, 12/1964:77-unknown-Quality Sales Corp. 11/1970:93-unknown-Quality Sales Corp. 9/1971:37-Abner Kreisberg & Jerry Cohen-George W. "Hank" Rodgers-Ed Hipps-Bruce Stowe-Julian Leidman-Fred H. Borcherdt Collection

1803 S-259 R4 Small Date, Large Fraction, PCGS graded AU50Glossy chocolate and steel brown with frosty golden tan in the fields and protected areas. A very attractive cent with the eye appeal of a slightly higher grade, but there is a dull rim nick right of the D in UNITED and a spot of microscopic roughness at TA in STATES. E-MDS, Breen state II early, with a crack through STAT that has not become strong and swelling at the lowest curl. Graded EF40 and tied for CC#3 in the Bland census. Noyes says EF40 net VF30 and tied for CC#7, his photo #32242. Our grade is EF40 net VF35. Comes with a nice provenance.Certificate Number: 36401.50/52084645Pedigree: Ex Robert J. Archer, Thomas L. Elder 12/1936:1382-Judge Thomas L. Gaskill, New Netherlands Coin Co. (privately) 11/1956-Dorothy I. Paschal-Fred H. Borcherdt Collection

1803 S-260 R1 Small Date, Large Fraction EF40Very attractive glossy medium brown and light chocolate with lighter brown and tan covering the fields and protected areas on the reverse. Smooth and essentially flawless except for a reddish area along the front edge of the neck, and there is microscopic roughness in that area. LDS, Breen state IV late, with a narrow (and barely visible) rim cud at S-OF. Graded EF40 net VF35 and tied for CC#20 in the Noyes census, his photo #25962.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1803 S-261 R2 Small Date, Large Fraction, PCGS graded AU55Choice glossy tan and light brown with darker steel brown toning on the highpoints. Nearly flawless with very light wear on the devices and great eye appeal. A thin nick near the dentils off the chin is the only notable mark. Sharply struck E-MDS, Breen state II, with lumps on the neck from die flaking, a crack up between the 8 & 0, and fine die clashmarks on both sides. Struck with the obverse die slightly misaligned to K-3. Graded EF40 net VF35 and tied for CC#9 in the Noyes census. It's better than that. Our grade is EF45.Certificate Number: 36407.55/61468287Pedigree: Ex Bowers & Merena 3/1998:193 (as PCGS AU50)-Douglas F. Bird 1998-Michael Arconti-Denis W. Loring-Thomas D. Reynolds-Fred H. Borcherdt Collection

1803 S-262 R3 Small Date and Fraction VF25+Mostly glossy olive brown and steel with lighter brown toning on the devices. The glossy on the obverse is subdued thanks to uniform extremely faint granularity while the reverse is perfectly smooth and highly glossy. A light vertical nick on the leaf over the E in ONE is the best identifying mark. This cent has very nice eye appeal in spite of the limited gloss on the obverse. MDS, Breen state II, with the usual die line slanting up through the bust, but the reverse is uncracked. The fields on the reverse are hard and slightly reflective thanks to the new die. Graded VF25 and tied for CC#5 in the Bland census. Noyes says VF35 net VF25 and tied for CC#4, his photo #25674.Certificate Number: Pedigree: Ex Charles R. Mathewson-Robert Le Blanc (Le Blanc Numismatics)-Denis W. Loring 6/1982-Fred H. Borcherdt Collection

1803 S-263 R3 Small Date and Fraction VF30Glossy chocolate brown and steel. The obverse is especially glossy due to a thin coating of lacquer or some similar protectant; the reverse is slightly dull from extremely faint granularity. Sharply detailed with just a light touch of wear on the devices. No verdigris but there are some marks. There is a scuff on the rim at LIB, dull, light vertical scratch through the eye, and a few tiny spots of roughness on the neck. M-LDS, Breen state VI, with a strong cud break under the date and a crack from the 3 through the bust to the dentils opposite the chin. Struck with the obverse die slightly misaligned to K-9. Graded EF40 and tied for CC#8 in the Bland census. Noyes says EF45 net VF35 and tied for CC#6, his photo #26124. An attractive but imperfect cent that comes with a nice provenance.Certificate Number: Pedigree: Ex C. Douglas Smith-Robert J. Kissner, Stack's 6/1975:383-Jeffery M. Peck 5/26/1976-Dr. Robert J. Shalowitz-C. Douglas Smith-Myles Z. Gerson-Denis W. Loring 10/1980-Fred H. Borcherdt Collection

1803 S-264 R4+ Large Date, Small Fraction, PCGS Fine Detail, Altered SurfaceA few points sharper with extremely faint roughness hidden under glossy olive brown and chocolate toning. No verdigris, just a few small marks including three tiny chips or small digs in the field behind the portrait and another at the edge over ER in LIBERTY. E-MDS, Breen state II, with swelling at STA but before the triangular breaks at the top leaves. The date and legends are complete and clear and the eye appeal of this cent is nice in spite of the imperfect surfaces. Graded F12 net G6 and tied for CC#27 in the Noyes census, his photo #32563. Our grade is F12 net VG8+. A decent example of this popular "Redbook" variety.Certificate Number: 36410.94.52084642Pedigree: From the Fred H. Borcherdt Collection

1803 S-265 R4 Large Date and Fraction F15Sharpness VF30 but covered with very fine roughness under slightly glossy dark olive brown and steel toning. There is dark verdigris in protected areas, especially on the reverse, and the only notable mark is a dull nick or planchet void in the field under the chin. M-LDS, Breen state VI, with die cracks on the reverse. Graded VF30 net F15 and tied for CC#20 in the Noyes census, his photo #26031.Certificate Number: Pedigree: Ex J. Watson 6/1979-Fred H. Borcherdt Collection

1803 NC-1 R5 VG7Sharpness F15 but covered with fine to moderate roughness, strongest on the reverse. There are no significant contact marks but traces of verdigris are visible on both sides, especially on the reverse. Slightly glossy medium chocolate brown. EDS, Breen state I, with an uncracked reverse. Graded net VG8 by Bland. Noyes says VG10 net VG7 and tied for CC#12, his photo #25949. Comes with a nice provenance.Certificate Number: Pedigree: Ex C. Douglas Smith 1953-Dorothy I. Paschal-Eugene Exman 9/1970-Denis W. Loring 9/1970-R. S. "Robbie" Brown, Jr. 11/1978-Denis W. Loring 11/1978-Fred H. Borcherdt Collection

1804 S-266a R4+ F15Five points sharper with traces of greenish verdigris at the back of the head and LIB. Otherwise the surfaces are smooth with only trivial marks scattered over both sides. Glossy chocolate brown with hints of reddish brown at the back of the head. EDS, Breen state I, before any die cracks or cud breaks. Noyes graded VF20 net F12, his photo #29005. A decent mid-grade example of this tough date.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1804 S-266b R5 F15Ten points sharper but there are some contact marks including an obvious dig at ES in STATES and a few light rim bruises at the bottom of the obverse. Otherwise quite nice with very attractive glossy medium chocolate brown toning on smooth surfaces. MDS, Breen state III, with a cud break at RTY and a clear die crack through the top of MERI but no cud break in that area. Graded VF25 net F15 and CC#5 of those known with the single cud break in the Noyes census, his photo #25801. A decent example of this relatively rare die state.Certificate Number: Pedigree: Ex Denis W. Loring 8/1980-Fred H. Borcherdt Collection

1804 S-266c R2 EF40Very attractive glossy medium chocolate brown with mint frost in protected areas, particularly on the reverse. Smooth with trivial marks including a dull rim nick opposite the chin and a couple tiny ticks in the field above the hair ribbon. Sharply struck with very light wear on the devices and great eye appeal. LDS, Breen state IV, with two strong cud breaks: one at RTY and another at MERIC. The repunching on the right side of the 4 is clear. Graded EF45 net EF40 and tied for CC#6 in the Noyes census, his photo #26767. A very nice example of this tough date.Certificate Number: Pedigree: Ex Lester Merkin 3/15/1967:181 (as EF45)-George Ramont-Fred H. Borcherdt Collection

1804 Private Restrike PCGS graded MS64 BrownFrosty faded red with steel brown on the highpoints, about two-thirds of the planchet showing the red color. A speck of carbon under the 0 in the date is the only mark. Late die state with both dies heavily lapped to remove rust leaving the central hair details missing or severely weakened. The reverse is rotated 15 degrees clockwise from a perfect head-to-foot die orientation. An attractive example of this non-mint product made circa 1860 using scrap mint dies, the obverse from 1803 S-261 and the reverse from 1820 N-12. Noyes photo #38282 (no grade assigned). Our grade is MS60+Certificate Number: 45344.64/61468288Pedigree: Ex C. Douglas Smith-R. E. "Ted" Naftzger, Jr.-Jerry A. Bobbe 5/13/1978-Richard V. Punchard-Fred H. Borcherdt Collection

1805 S-267 R1 Blunt 1 PCGS graded AU58Glossy steel brown and chocolate with frosty light brown and golden tan in the fields and protected areas and a hint of reddish toning on the upper part of the reverse. Smooth with minor marks and just a touch of friction on the devices. A small puff of darker toning right of the Y and another at the rim off the chin are the best identifying marks. M-LDS, Breen state III, with a dull crack through the top of AME and light die clashmarks on both sides. Our grade is AU50+.Certificate Number: 36427.58/61275976Pedigree: From the Fred H. Borcherdt Collection

1805 S-268 R3 Blunt 1 VF25Glossy brown and light olive with lighter brown toning in some of the protected areas. Smooth with light to moderate wear and only minor marks including a light arcing impression near the dentils before the bust and neck (probably an impression of the rim of another cent) and some light nicks in the fields on either side of the portrait. The reverse is choice. LDS, Breen state III, with an obvious bulge at the D in UNITED. Graded VF25 net F15 and tied for CC#25 in the Noyes census, his photo #25943.Certificate Number: Pedigree: Ex Willard C. Blaisdell-Denis W. Loring 1978-Fred H. Borcherdt Collection

1805 S-269 R1 Pointed 1 VF35+Glossy medium brown and light olive mottled with some darker chocolate and olive brown tones on the reverse. The obverse is smooth and choice but there are traces of microscopic roughness and shallow verdigris on the reverse. A pinprick over the right top of the E in ONE is a good identifying mark. The eye appeal of this cent is quite nice in spite of the imperfect surfaces on the reverse. LDS, Breen state V, with all the die rust, clashmarks, and dull cracks described by Breen. Graded EF45 net VF35 and tied for CC#22 in the Noyes census, his photo #29257.Certificate Number: Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1806 S-270 R1 PCGS graded MS62 BrownChoice lustrous medium chocolate brown. Satiny and very attractive with mint state eye appeal, but there is a hint of friction on the highpoints. The only notable marks are a couple small puffs of reddish brown toning on the obverse and a barely visible rim bruise at the E in LIBERTY. MDS, Breen state II, with a short crack in the lowest curl and faint die clashmarks on the obverse. Noyes graded MS60 net AU50, his photo #29255. Our grade is AU55.Certificate Number: 36436.62/57538522Pedigree: Ex Arthur C. Fritz, Lester Merkin 10/19/1966:121 (as MS60)-Ted Kress-Fred H. Borcherdt Collection

1807 S-271 R1 "Comet Obverse," Small Fraction VF20Attractive glossy medium brown and light chocolate with frosty lighter brown and tan in protected areas. Smooth with very nice eye appeal, but a glass reveals some marks. There are four tiny pits under the ear, a very fine vertical scratch down from the ear, and several very tiny contact marks, mostly on the portrait. A small nick high above ONE is the only mark visible to the unaided eye. MDS, Breen state IV. The "Comet" flaw behind the head is flat but clear. Noyes graded VF35 net F15, his photo #28024. An attractive cent with the eye appeal of a VF30 grade.Certificate Number: Pedigree: Ex Tom Morley-Fred H. Borcherdt Collection

1807/6 S-272 R4+ Overdate Small 7 over 6 G6A couple points sharper but moderately rough under slightly glossy olive brown and chocolate toning. No verdigris, and the only notable contact mark is a diagonal scratch on the jaw. The date is strong, the overdate is clear, and the legends are complete. MDS, Breen state II, before any die cracks. Graded VG8 net G6 and tied for CC#23 in the Noyes census, his photo #25651. An imperfect but still decent lower grade example of this popular "Redbook" variety.Certificate Number: Pedigree: Ex Denis W. Loring 6/1978-Fred H. Borcherdt Collection

1807/6 S-273 R1 Overdate Large 7 over 6, PCGS graded XF45Choice glossy steel brown and chocolate with frosty tan and lighter brown in protected areas. Satiny mint frost shows in the protected areas and this cent has great eye appeal. Just very light wear and trivial marks on perfectly smooth surfaces. LDS, Breen state IV, with narrow rim cud breaks at STA reaching halfway to the adjacent D. Graded EF45 and tied for CC#17 in the Noyes census, his photo #26866. Our grade is EF45.Certificate Number: 36442.45/61468289Pedigree: Ex George Ramont-Fred H. Borcherdt Collection

1807 S-274 R2 Small Fraction PCGS graded AU50Glossy chocolate brown with frosty golden tan and lighter brown in the fields and protected areas. Smooth with some small contact marks, mostly on the neck into the field to the right. A tiny tick in the dentils below the bust can help identify this cent. MDS, Breen state III, with swelling at ST and fine die cracks on the reverse. Graded VF35 and tied for CC#4 in the Bland census. Noyes says EF40 net VF35 and tied for CC#4, his photo #26130. Our grade is VF35+. Comes with a nice provenance.Certificate Number: 36445.50/61468290Pedigree: Ex Philip G. Straus, Stack's 5/1/1959:231-C. Douglas Smith-Robert J. Kissner, Stack's 6/27/1975:391-Denis W. Loring 1/10/1984-C. Douglas Smith-Fred H. Borcherdt Collection (includes the Loring/Doug Smith collection envelope)

1807 S-275 R3 Large Fraction PCGS graded AU Detail, CleanedVery attractive glossy chocolate and olive brown with frost in protected areas, especially on the reverse. Nicely struck with just a light touch of friction on the devices. The only defects are a tiny nick below the lower end of the hair ribbon and a hint of extremely faint roughness near the rim left of the lower curls. E-MDS, Breen state II early, with minor crumbling in the dentils left of the L in LIBERTY but no trace of a bulge in that area. Graded EF45 and tied for CC#3 in the Bland census. Noyes says EF45 and tied for CC#3, his photo #26032. Our grade is EF40+. Do not agree with the "Cleaned" assessment from PCGS. The color is original and quite attractive. Copper experts Bland and Noyes agree. You decide. The finest in both lists is impounded in the Ashmolean Museum in London.Certificate Number: 36448.92/52084644Pedigree: Ex Charles W. "Suitcase" Foster 9/1950-C. Douglas Smith 9/19/1987-Fred H. Borcherdt Collection

1807 S-276 R1 Large Fraction PCGS graded AU50Glossy light to medium chocolate with slightly lighter steel brown toning on the highpoints on the reverse. Smooth and attractive with trivial marks including a short scratch hidden in the hair at the curl near the shoulder. M-LDS, Breen state IV, with rim breaks at IBE, a bulge at the lowest curl, and die clashmarks on the reverse. Graded EF40 net VF30 and tied for CC#14 in the Noyes census, his photo #26914. Our grade is VF35+. Struck with the reverse rotated 165 degrees clockwise relative to the normal head-to-foot die orientation.Certificate Number: 36451.50/52085746Pedigree: Ex George Ramont-Fred H. Borcherdt Collection

1808 S-277 R2 PCGS graded AU53Frosty light to medium steel brown and light chocolate. Satiny mint frost covers the fields and protected areas and the eye appeal of this cent is excellent. The only marks on otherwise choice surfaces are three dull nicks or small digs at the bust and three smaller ones in the field before the mouth. MDS, Breen state VI, with die cracks on the reverse and significant weakness on star 1 from sinking at the opposing TA in STATES. Nearly qualifies for the "12-Star Obverse" die state. Graded VF35 net VF25 by Noyes, his photo #25919. Our grade is VF35.Certificate Number: 36457.53/61275951Pedigree: From the Fred H. Borcherdt Collection

1808 S-278 R3 PCGS graded MS63 BrownLustrous light olive and steel brown. Frosty and very attractive. The only marks are two very tiny pricks under the 1 in the date and a tiny diagonal nick over star 1. MDS, Breen state III, with fine radial die flowlines but no rim cuds. Graded MS60 and tied for CC#7 in the Bland census. Noyes says MS60 and tied for CC#5, his photo #29209. Our grade is MS60.Certificate Number: 36460.63/57538523Pedigree: Ex Paramount International Coin Co. 5/1969:573-Ted Kress 6/1991-Fred H. Borcherdt Collection

1808 S-278 R3 VF20Glossy olive brown with light brown in the fields and protected areas, especially on the reverse. The toning on the obverse is uneven but the reverse is quite attractive with flowline luster in the fields and protected areas. The only notable marks are a pair of very light hairline scratches from the eye to the Y and a stronger one from the end of the nose towards star 6. M-LDS, Breen state VI, with flowlined fields on both sides.Certificate Number: Pedigree: From the Fred H. Borcherdt Collection

1808 S-279 R1 F15Sharpness VF30 with fine granularity covering the fields and protected areas, all under partly glossy dark olive brown and steel toning. No marks or verdigris. MDS with worn dies and no dentils remaining on the reverse. Struck with the obverse slightly misaligned to K-3.Certificate Number: Pedigree: Ex Dean Johnson 6/1976-Fred H. Borcherdt Collection

1809 S-280 R2 PCGS graded XF45Glossy medium olive brown and chocolate with frost in the fields and protected areas. Smooth and very attractive with light friction on the highpoints and trivial marks. A pair of tiny, barely visible hairline scratches under the E in ONE are the only notable defects. MDS, Breen state VI, with cracks at the top of the wreath and fine die clashmarks on both sides. A very attractive cent. Our grade is EF40+, close to EF45.Certificate Number: 36466.45/61275952Pedigree: Ex Superior 2/1984:56-Fred H. Borcherdt Collection

1810/09 S-281 R1 Overdate 10 over 09, PCGS graded AU55Very attractive frosty mix of chocolate and olive brown with lighter brown in protected areas. Smooth with very light friction on the highpoints and great eye appeal. The only defect is a collection of tiny pinpricks around the 8 in the date, and these do not catch your eye. LDS, Breen state IV early, with flowlines and dull die clashmarks. The overdate feature is strong. Graded EF45 net EF40 and tied for CC#20 in the Noyes census, his photo #33129. Our grade is EF40+Certificate Number: 36469.55/52084635Pedigree: Ex Abner Kreisberg-Ted Kress-Fred H. Borcherdt Collection

1810 S-283 R2 PCGS graded MS64 BrownBeautiful lustrous bluish steel and light olive brown. Sharply struck with satiny surfaces and very sharp details. Just a few trivial marks including a nick near the dentils under star 1, a speck of dark crud at the curl over the Y, and a swipe of dark toning at the right bottom of the second S in STATES. Otherwise this cent is choice. Graded MS61 and tied for CC#1 in the Bland census. Noyes says MS60 and tied for CC#1, his photo #21881. Our grade is MS60+. The other mint state example is a later die state that has rather mushy details due to die wear. A great cent that comes with a really nice provenance.Certificate Number: 36478.64/61275953Pedigree: Ex Henry C. Hines-Homer K. Downing , 1952 ANA Sale (New Netherlands Coin Co.), lot 1987-Harold Bareford 9/13/1985-Herman Halpern 12/11/1986-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner 4/23/1992-Fred H. Borcherdt Collection

1810 S-284 R3 VF30Frosty medium chocolate brown and steel. Smooth with light wear and very nice eye appeal. The color is attractive and appears original to us. The only defects are a few tiny scratches in the field before the nose and lips, and a tiny rim nick at star 2. Otherwise free of marks. MDS, Breen state II, with die clashmarks on the reverse. Struck slightly off center to K-5 affecting only the dentils Graded VF35 net VF25 and CC#23 in the Noyes census, his photo #26243. Our grade is VF35+ net VF30.Certificate Number: 36481.92/61468291Pedigree: Ex MC 6/1979-Fred H. Borcherdt Collection

1810 S-285 R2 PCGS graded AU58Glossy medium steel brown and light chocolate with frosty lighter brown and tan in protected areas. Hints of very faded mint color are visible in a few places on the reverse, and this cent has really nice eye appeal. The only notable marks are a half dozen tiny spots of planchet slag under NE in ONE, as struck, and a tiny nick at the right end of the line below CENT. MDS, Breen state II, with die clashmarks on both sides and a light die crack through stars 11-13 and the adjacent 10. Graded EF45 net EF40 and tied for CC#12 in the Noyes census, his photo #26010. Our grade is EF45. Comes with a note from Denis Loring stating "Without a doubt the most beautiful circ Turban I've ever had the pleasure of owning." Ownership may inspire a bit of hyperbole, but this really is a nice cent.Certificate Number: 36484.58/61275954Pedigree: Ex James R. McGuigan-Denis W. Loring-Fred H. Borcherdt Collection (includes the Loring collection envelope)

1811/10 S-286 R3 Overdate 11 over 10, PCGS graded XF45Glossy medium brown and light chocolate with mint frost in protected areas on the reverse. Smooth with light wear and excellent eye appeal. Just minor marks including a small nick off the chin, a puff of slightly darker reddish chocolate toning (not roughness) between star 2 and the throat, and a thin horizontal nick under the end of the wreath ribbon. MDS, Breen state II, with light die clashmarks on the reverse. Graded VF35 net VF30 and tied for CC#12 in the Noyes census. Our grade is VF30+. The overdate feature is bold. A very nice example of this popular overdate variety.Certificate Number: 36490.45/61275955Pedigree: Ex Denis W. Loring-Dr. Hiram T. Ward 1979-Fred H. Borcherdt Collection

1811 S-287 R2 PCGS graded AU55Very attractive glossy light to medium steel brown and light olive with frosty lighter brown and tan in protected areas. Sharply struck with generous traces of golden tan faded down from mint color on the reverse. Looks absolutely choice, void of any contact marks, but a glass reveals there is a thin layer of lacquer or some similar protectant on both sides. A few tiny spots of darker brown toning right of the D in UNITED and another under the left foot of the N in CENT can help identify this cent. MDS, Breen state III, with a subtle bulge from the final 1 to star 13. Graded MS60 and tied for CC#9 in the Bland census. Noyes says MS60 and tied for CC#1, his photo #85277. Our grade is AU55. Comes with a long, impressive provenance.Certificate Number: 36496.55/61275957Pedigree: Ex Dr. G. F. E. Wilharm, B. Max Mehl 2/15/1921:1478-Dr. George P. French-B. Max Mehl 1929 FPL, lot 363-H. A. Stoddard 1934-B. Max Mehl (privately)-T. James Clarke 1949-Dr. William H. Sheldon 4/19/1972-R. E. "Ted" Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:601-Dr. John M. Tondra 1980-Garry F. Fitzgerald-Douglas F. Bird-Fred H. Borcherdt Collection

1811 S-287 R2 PCGS graded AU50Glossy olive brown and steel with mint frost in the fields and protected areas. An attractive cent with very light wear on the devices, but there are some contact marks including a very light scratch down from the eye and some contact marks on the rim, particularly at K-1 on the obverse and above the O in OF. MDS, Breen state III late, with swelling at the final 1 to stars 13 & 12. Struck slightly off center to K-3 affecting only the dentils. Graded AU50 net EF40 and tied for CC#24 in the Noyes census, his photo #25877. Our grade is EF45 net EF40.Certificate Number: 36496.50/61275956Pedigree: From the Fred H. Borcherdt Collection

1812 S-288 R2 Large Date PCGS graded AU55Glossy medium brown with lustrous golden light tan in the fields and protected areas on both sides. There is a streak of darker brown toning from star 4 to stars 9 & 10 and a large puff of slightly reddish chocolate brown toning at MERICA. No roughness or verdigris, and the only notable contact mark is a fine diagonal scratch at the top of star 4. LDS, Breen state III, with flowlined fields and the legend at the top of the reverse merging into the rim. Graded EF45 net EF40 and tied for CC#19 in the Noyes census, his photo #29158. Our grade is EF40+.Certificate Number: 36505.55/52084640Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1812 S-289 R1 Large Date PCGS graded AU50An attractive cent with smooth surfaces and light wear on the devices, but it has been expertly retoned. Glossy brown and light chocolate with flowline luster in the fields and protected areas. Essentially void of marks with really nice eye appeal. A tiny tick on the rim at star 5 can help identify this cent. LDS, Breen state IV, with flowlined fields and crumbling on the front edge of the neck. Our grade is VF30.Certificate Number: 36508.50/61468292Pedigree: From the Fred H. Borcherdt Collection

1812 S-290 R1 Small Date PCGS graded MS63 BrownLustrous tan mixed with wisps of medium brown and light chocolate. A mint state cent with no friction and nice eye appeal, but there are a few spots of very fine verdigris on the obverse: one right of the date, one over the bust, and another over star 3. It takes a strong glass to see the verdigris in those spots. The only notable contact marks are three tiny ticks off the end of the bust. M-LDS, Breen state IV, with flowlined fields and dull lap stone die marks at ITED and STA, but the terminal rim cud at TE in UNITED has not formed. Graded MS60 and tied for CC#8 in the Bland census. Noyes says AU55 and tied for CC#9, his photo #29053. Our grade is MS60 net AU55.Certificate Number: 36499.63/61275958Pedigree: Ex Dr. Angus C. Black, New Netherlands Coin Co. 6/1970:141 (as UNC)-Ted Kress 6/191-Fred H. Borcherdt Collection

1812 S-291 R2 Small Date PCGS graded MS62 BrownBeautiful glossy medium chocolate brown with frosty lighter brown and tan in protected areas. Traces of golden light tan faded down from mint color can be found in protected areas on the obverse and this cent has great eye appeal. Looks flawless to the unaided eye, but there is a light scrape on three dentils left of star 5 and a similar scrape just right of the eye. These marks are blended perfectly into the attractive toning and are easily missed. M-LDS, Breen state III, with flowlined fields and fine die cracks on the obverse, but the die chip at the right side of the 2 has not formed. Graded MS60 and CC#1 in the Bland census. Noyes says MS62 Choice and CC#1, his photo #20043. This is the only mint state example listed in both census lists, and it is the finest example known to us in spite of the few marks. Our grade is MS60 sharpness net AU58. Plated to represent the die variety in the 1991 Noyes reference.Certificate Number: 36502.62/61275959Pedigree: Ex Larry Whitlow 4/1971-R. E. "Ted" Naftzger, Jr. 2/23/1992-Eric J. Streiner 4/23/1992-Fred H. Borcherdt Collection

1813 S-292 R2 PCGS graded AU50Frosty chocolate brown and steel with light reddish chocolate at the bottom of the obverse and satiny olive brown on the reverse. Peeps of golden tan faded down from mint color show in the wreath and ONE CENT. Smooth with light friction on the highpoints and no notable contact marks. A spot of slightly darker toning at the upper point of star 13 is the best identifying mark. M-LDS, Breen state IV, with flowlined fields and very few dentils remaining on the reverse. Graded EF40 net VF35 and tied for CC#33 in the Noyes census, his photo #28997. Our grade is EF40+.Certificate Number: 36511.50/52084628Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection

1813 S-293 R2 PCGS graded AU58Glossy medium brown and light chocolate with mint luster covering the protected areas. A very nice cent with just a hint of rub on the highpoints. A small puff of darker chocolate brown toning right of star 7, a faint diagonal scratch right of the puff, and a swipe of reddish brown toning on the end of the wreath ribbon are the only notable marks. M-LDS, Breen state IV, with flowlines and faint die clashmarks on both sides. Graded AU55 and tied for CC#4 in the Bland census. Noyes says AU55 net AU50 and tied for CC#7, his photo #29973. Our grade is AU50+.Certificate Number: 36514.58/57538525Pedigree: Ex Lillian S. Willins, Auction '81 (Paramount International Coin Corp.), lot 1055 (as MS63)-Gene Sanders (Coinco)-Fred H. Borcherdt Collection

1813 S-293 R2 PCGS graded XF45Glossy light to medium chocolate brown. Smooth and quite attractive, just moderately worn. Only a few+V327 trivial marks including a pinprick left of star 10 and a pair of small rim bruises at the bottom of the reverse. MDS, Breen state III, with flowlined fields and dull die clashmarks on both sides. Graded VF30 net VF25 and tied for CC#31 in the Noyes census, his photo #25684. Our grade is VF25.Certificate Number: 36514.45/52085739Pedigree: Ex Denis W. Loring 5/1980-Fred H. Borcherdt Collection

1814 S-294 R1 Crosslet 4 PCGS graded AU58Choice frosty mix of golden tan and light chocolate brown. A beautiful, lustrous cent that has mint state eye appeal, but there is a touch of friction on the highpoints. A small spot of slightly darker brown toning in the field before the brow and a light rim bruise at star 5 are the notable marks. LDS, Breen state II, with lightly flowlined fields and weakened dentils at the top of the reverse. Graded AU55 net AU50 and tied for CC#18 in the Noyes census, his photo #29156. Our grade is AU55.Certificate Number: 36520.58/61275960Pedigree: Ex Abner Kreisberg-Ted Kress 1991-Fred H. Borcherdt Collection (includes the Kreisberg sales envelope)

1814 S-294 R1 Crosslet 4 PCGS graded XF45Glossy medium brown and light chocolate with mint frost in the protected areas. Smooth with light wear and very nice eye appeal. Just a few trivial marks including a pinprick in the field at the brow lock and a light tick over the N in ONE. M-LDS, Breen state II, with fine die clashmarks on both sides. Graded EF40 by Noyes, his photo #29048. Our grade is EF40+. An attractive Classic Head cent.Certificate Number: 36520.45/52084639Pedigree: Ex George Ramont-Fred H. Borcherdt Collection (includes the Ramont collection envelope)

1814 S-295 R1 Plain 4 PCGS graded MS63 BrownLustrous medium steel brown with small peeps of lighter golden tan faded down from mint color on the reverse. Satiny and very attractive with just the slightest hint of rub on the highest points of the devices. The only marks are some tiny specks of darker toning on the obverse, none notable. M-LDS, Breen state XI, with crumbling on the neck and throat (the so-called "Beard Variety). The die crack arcing through star 11 and the lowest curl and the 8 is complete from rim to rim. In addition there is a clear double profile on the nose, lips, and chin. Struck slightly off center to K-9. Our grade is AU58. An attractive example of a neat die state; looks choice mint state.Certificate Number: 36517.63/61275961Pedigree: Ex Ted Kress 1991-Fred H. Borcherdt Collection