Certain to be a highlight not only of Stacks Baltimore Auction, but also of American numismatic sales of the entire year, is this fabulous 1797 half dollar in MS-66 (NGC). Not only does that make it a landmark, but the eye appeal is beyond comparison. Few early American silver coins of any denomination can come close to it in beauty.

A truly breathtaking example of the Draped Bust, Small Eagle half dollar designed by the Philadelphia Mint’s early engraver Robert Scot. It was a highlight of the famed Farish Baldenhofer, Norweb and Haig Koshkarian Collections, where it attracted intense and richly deserved bidder interest.

The 1796 and 1797 half dollars are the scarcest regularly issued silver type coins of the United States, their specific mintage is something of a mystery with 3,918 reported struck of both dates combined. Researchers debate the number of survivors, with the Overton-Parsley reference suggesting 100 to 300 of the combined dates still in existence; half dollar specialist Lano Balulescu, 75 to 200; David Lange, about 100 survivors of both dates combined. (See Jon P. Amato, “Surviving 1796-97 Draped Bust Half Dollars and Their Grade Distribution,” John Reich Journal, February 2005.

High-grade examples of either date are notoriously elusive. An occasional prooflike Mint State 1796 half dollar can be located, but the same cannot be said for 1797. Only a few pieces of Mint State quality are known, with only the former Lelan Rogers coin—a piece that brought over $500,000 at public sale in 1995—in close competition with the coin featured here for “finest known” honors.

The present Norweb specimen was purchased in Stack’s November 1955 sale of the Farish Baldenhofer Collection, where it was described as: “1797. A superb example of this very rare date. The finest striking we have ever seen. We cannot conceive that this specimen could be excelled. The coin was purchased as a Proof, however to conservatively grade it we will call it prooflike surface, definitely one of the first coins to leave the dies. Perfectly centered at deep milling, perfect color. All the requisites that the advanced and critical collector desires. . . a real prize!”

The Koshkarian cataloguer noted the Baldenhofer-Norweb descriptions, adding “in Uncirculated preservation, never mind being prooflike, the 1797 half dollar is virtually unknown. Here is a marvelous exception, a classic coin which will be forever remembered as one of the great legendary rarities of the Norweb Collection.” (more…)

Among all American gold coins one of the most famous is the 1796 quarter eagle without obverse stars. Offered in our sale is an especially high quality, especially memorable coin, MS-62 (PCGS) with outstanding eye appeal. The vast majority of other examples show evidence of circulation.

A list of important citations and articles about the No Stars quarter eagle would fill a small book! The first person to study varieties of this year in detail was J. Colvin Randall, as part of his system of early gold die varieties compiled in the late 1870s. Alas, no example of this work is known to exist, if indeed it was ever published.

However, scattered cross-references to the varieties appear in some auction catalogues of the era. Edgar H. Adams, who in the early 20th century worked with William H. Woodin in the examination of early gold varieties, offered important information in his notebook (now preserved by the American Numismatic Society), including the description of two die varieties for the No Stars obverse (two different reverses, the rarer apparently appearing in the William F. Gable Collection sale in 1914) and one variety of the With-Stars obverse.“The Gold Coinage of 1796,” by R.W. Julian, in the Numismatic Scrapbook Magazine, April 1967.

Walter Breen wrote extensively of the 1796 No Stars, including in his Complete Encyclopedia of U.S. and Colonial Coinage, 1988. The latest great entry is the study by John Dannreuther, based on the notes of Harry W. Bass, Jr., which is absolutely definitive. The offered coin is variety BD-2. Generation after generation, year after year, any example to appear at auction has furnished the opportunity for enthusiastic prose in a catalogue and excitement at the sale itslef.

It is estimated that just 963 coins were struck from the No Stars obverse. After this coinage, a new die was made with stars, inaugurating a type that was continued through 1807. As to why there were no obverse stars on the 1796, as here offered, it may have been that as stars are on the reverse die, the use of stars on both sides was deemed to be redundant, but later reconsidered.

Among design types of United States coins this is one of the rarest, most treasured issues. The present coin will be a highlight in the finest collection.  LOT 2324 in the upcoming Stacks Sale in Baltimore

Historic printing press plates used in the process of producing multi-subject 19th century “obsolete” paper money for ten different banks will be offered in a public auction conducted on July 27 and 28, 2008 in Baltimore, Maryland by Stack’s (www.Stacks.com) of New York City and Wolfeboro, New Hampshire. The unique, intricately engraved plates are from the legendary archives of the American Bank Note Company.

The number of subjects per plate range from two to eight, and the denominations range from five cents to $100. They are consigned to the auction by Archival Collectibles of Far Hills, New Jersey, which acquired the huge American Bank Note Company archives in 2005.

“We recently discovered these particular multi-subject, obsolete bank note plates among the thousands of one-of-kind, engravings in the archives. One plate was still in its original wax-sealed wrappers, apparently unseen for 149 years,” said Steve Blum, president of Archival Collectibles.

“It’s exciting to look at these original pieces of numismatic history that were so skillfully handcrafted more than a century ago.”

The plates and the denominations of the notes in the upcoming Stack’s auction are:

The Uncas Bank in Norwich, Connecticut, $3 and $10;

The Commercial Bank of Kentucky in Paducah, Kentucky, $5, $5, $10 and $20; (more…)

Quality United States coins from Colonials to Patterns will be highlighted in Stack’s July 10, 2008 sale of the Vincent Collection, held at the Schaumburg Renaissance hotel, Schaumburg, Illinois in conjunction with the MidAmerica Coin Expo. Among the 385 lots are such early copper rarities as an 1804 Sheldon 266c Large Cent in Fine-12 (PCGS); Lincoln Cents include the 1914-D in MS-66 BR (NGC) that is tied for the finest graded by NGC.

Silver Half Dimes feature an 1840 No Drapery in MS-67 (NGC, CAC); among popular Mercury Dimes is a 1921 in MS-67 (NGC) that is among the finest extant examples. Sure to attract bidder attention if a Cameo Proof 1910 Barber Quarter in PF-68* Cameo (NGC); Barber Half Dollars are highlighted by the John J. Pittman example of the 1907=-D in MS-68 (CAC, NGC); Liberty Seated Silver Dollars include n 1854 in Proof-64 (NGC).

Morgan Dollar collectors will note an 1880 in Proof-68 CAMEO (NGC) and n 1880-S in MS-69 (NGC) toed for finest certified by that leading service; the second-finest Deep Mirror Prooflike 1893-O appears in MS-64 DMPL (NGC); later dates feature an 1896 in Proof-68* ULTRA CAMEO (NGC). Proof Gold includes an 1899 Quarter Eagle in Proof-65 DCAM (CAC, PCGS. Among outstanding Gold $3 is an 1880 in MS-65 (NGC); early Half Eagles include 1802/1, Bass-Dannreuther 8 in MS-62 (CAC, PCGS); early Eagles are led by a 1798 BD-10 in MS-63 (CAC, PCGS); Saint Gaudens Double Eagles include a Gem 1915 in MS-65 (NGC), tied for finest known.

The Vincent Sale is very well represented by rare and choice American paper from the Colonial era to modern times. A brief, but attractive, selection of Continental Currency and Colonial American notes is followed by a fine selection of United States Obsolete Currency from the outstanding Q. David Bowers Reference Collection. The initial offering of obsolete notes from the Bowers Collection was an important event last October in Atlanta. The great interest in rare, historic and artistic obsolete notes was further flattered in our recent May Minot Sale where several notes broke the five-figure mark, an achievement considered next to impossible less than three decades ago. (more…)

On June 25, 2008 Stacks will host a spectacular one-day sale of a truly remarkable collection. The new auction facilities were inaugurated last month with the sale of The Minot Collection. The auction will begin at 12:30pm sharp with the sale of the Glenn E. Bergstrom Collection and other important properties.

Kicking off the sale will be a small offering of colonial and early American pieces, with the 1737 3 Hammers Higley copper undoubtedly at the fore. There are perhaps six to twelve examples known in all grades, making this coin so rare that most advanced specialists cannot boast a specimen of their own!

After this auspicious beginning, the sale continues with solid offerings of minor coinage, including an attractive (and affordable!) 1804 quarter dollar. An 1823/2 quarter also commands attention, while the 1835 proof quarter (the Eliasberg specimen) combines great beauty with a great pedigree. A 1916 Standing Liberty quarter in AU-58 (NGC) represents a good opportunity to acquire a relatively affordable example of this scarce issue. Moving into the half dollars, a beautiful 1795 Overton-114 example in MS-64 (NGC) (finest known) steals the limelight, and is followed in turn by a number of attractive Draped Bust half dollars and, later, an excellent 1861 Scott restrike Confederate half dollar. (more…)