Duvall 4-E Variety is Just the Second Reported Specimen

Virginia Beach, VA. The graders at Dominion Grading Service are excited to announce that they have certified the second known example of this very rare variety. The Duvall 4-E variety was thought to be unique until the discovery of this coin, which has been graded AU58 Cleaned by DGS.

According to John Feigenbaum, President of DGS, the coin has “the initial appearance of a mint state coin but the luster is almost too nice and lacks the frosty surfaces of a true mint state. The coin has virtually no wear and has been very lightly cleaned to show evidence of wipe lines upon close examination in proper lighting. The only significant mark on either side of the coin is a 3 mm scratch on Washington’s cheek. Without the mishandling, this coin might have otherwise graded MS63.”

Feigenbaum continued to say that “this coin is the perfect example of the kind of collector rarity that we pride ourselves at DGS. Because the coin is lightly cleaned, some of the other grading services wouldn’t even examine the coin for variety. At DGS, we appreciate that many great coins may not be pristine, but still benefit from certification. Our affiliation with David Lawrence Rare Coins and DLRC Auctions also gives clients the opportunity to submit the coins and then bring them directly to market. In the case of the 4-E, the client intends to do just that. No other leading firm can offer that full-service experience in house.”

The Duvall 4-E Variety

The Duvall 4-E variety is distinctive because of the unique positioning of the olive branch on the reverse. The right side of the branch terminates over the numeral 9 of 1900. All other known varieties see this branch end over the right side of the first 0 in 1900. Prior to the appearance of this coin, the existence of Duvall 4-E was thought to be unique.

The only other known Lafayette dollar of this die variety was sold in August 2007 by Heritage Numismatic Auctions as part of their Signature ANA Auction. (Lot 2090). It was graded MS60 by ANACS and realized $18,400 to a phone bidder. According to the Heritage lot description, that coin was “well struck with dusky chestnut, aqua, and plum-mauve patina. Both sides unusually free from marks, particularly on the portraits.” Based on the description of marks, these are clearly not the same coin. (more…)

The following Article appeared in the August The E-Gobrecht Newsletter, Volume 4, Issue 8

With an minimum opening bid of $500,000, Paul Bosco, a New York dealer with tables at the 2008 ANA Convention, offered the “1873S No Arrows Discovery Coin,” item number 300245146593 with a closing date of August 4, 2008.

He described the coin as such: “I suggest you use your computer’s imaging programs to enlarge the pictures. They are rather convincing. Mintage 5000, but it has always been believed that no specimens are known. The 1873S Dollar –mintage 700– has the same status. In 1873 the weight of silver fractional coins was increased and the silver dollar was suspended, as well as the half dime. In the case of halves, the increase was from 12.44 grams to 12.50. Arrows were placed next to the date, distinguishing coins with the same date (and mint mark) but different weight standard.

It seems that some of the No Arrows coins were melted, not released. The 1873CC Quarter is known in only a few examples. It is difficult to say, whether or not the all examples of very rare 1873 No Arrows coins were assay specimens. At least one quarter is well used. The phrasing in the Red Book implicitly acknowledges the possibility that at least some examples were released to circulation. The notion that all were melted down is not, as far as I know, supported by documentation, but by the circumstantial evidence, i.e. the nonexistence of any examples. Until now.

The 1933 $20 piece was not released and it IS documented that the considerable mintage was entirely melted. However, examples certainly do exist.

This discovery coin — I have no memory of where I got it — shows extensive fire damage, as if it survived the melting pot. However, it could just as easily have been saved by a mint employee, who subsequently — and some would say ironically– had a fire in his home. It is not possible to say if the coin is in fact Uncirculated with “environmental damage”. Also, the weight and specific gravity would notmeaningful, as corrosion and damage products would increase the weight and decrease the density. Of course, no die diagnostics are known for the date/mint/variety.

I will bring the coin to the ANA convention in Baltimore, where I have two tables. As I will be there, I may not be able to respond to questions. Free postage on this lot. I may even pay for your flight to New York to pick it up.”

[Editor’s comments: This coin is not authenticated and John Dannreuther (PCGS Director of Research) and I, Bill Bugert, attempted to see and scrutinize this discovery coin at Paul Bosco’s ANA table. Paul told us the coin was out with his photographer and he didn’t know when he would get it back. It received no eBay bids as of this newsletter’s publication.]

In the earliest years of the Mint, dime and quarter eagle reverse dies were used on each denomination–apparently a conscious decision. The planchet sizes were close, 19 mm for the dimes and 20 mm for the quarter eagles.

The diameter of each denomination was later reduced when new machinery was introduced. The dime’s diameter was reduced to 18.5 mm beginning in 1809, and the quarter eagle to 18.2 mm in 1829.

It is not a stretch to imagine the Mint striking a batch of dimes with a few unstruck planchets remaining in the hopper, then striking a run of quarter eagles, a couple of which were struck on leftover dime planchets. Only 0.3 mm separated the size of the two planchets, an imperceptible difference to the casual inspector.

What happened next is fairly obvious: nothing. This piece entered the channels of commerce and circulated as a dime for many years. Only recently and after 54 points of wear did someone notice that the design was inconsistent with that of an 1831 dime. This piece was found in a bag of silver in North Texas, in May of this year.

It is always interesting to scan the “Found in Rolls” column in Coin World. Foreign coins, tokens, silver coins are constantly found in rolls. But an 1831 quarter eagle struck on a dime planchet in a bag of silver?

This is the second example of this off-metal striking that is known. The other piece is high-grade and has a distinguished pedigree including Brand, Opezzo, Farouk, Judd, and Sloss. It has been off the market since 1974, when it was traded privately, then it was withdrawn from the 1979 ANA Sale. Over the years that piece has been listed and delisted as a possible pattern. (more…)

This spectacular serial number 1 Black Charter Note represents a true miracle of survival.

Discovered earlier this year, it is the only serial number 1 Black Charter Note from any bank to survive, and is one of only three Original Series Black Charter Notes known to exist (Fr. 399).

It is the “A” position note from the first sheet of fives sent to the Red Oak, Iowa bank in 1873, and, as Peter Huntoon noted in his Bank Note Reporter story earlier this year, had obviously been saved by one of the signers.

Nothing is known of the note’s pedigree since the day it left the bank in late 1873 until it walked into a small Iowa coin shop earlier this year. The note quickly changed hands and the second dealer sent it to PMG for grading because of its attractive appearance.

Only when the note came back from PMG with the attendant fanfare did the second dealer realize that this was not only a serial number 1 example but was the only serial number 1 Black Charter example ever to be recorded.

Fortunately for collectors, it is a lovely as well as unique note, with great color, signatures, and eye appeal, fully, in our opinion, meriting its PMG assigned grade of Very Fine 25.

The Note will be auctioned by Heritage in the upcoming Long Beach Currency Sale in September as Lot 3502.

(Dana Point, California) — A previously unrecorded 1943-S Lincoln cent, erroneously struck on a bronze planchet and found in circulation by a teenaged collector over a half century ago, has been acquired by Rare Coin Wholesalers of Dana Point, California. The discovery coin now is certified as AU-53 by Numismatic Guaranty Corporation.

“The coin was found in 1944 by Kenneth S. Wing Jr. of Long Beach, California who was assembling a set of Lincoln cents at the time,” said Steven L. Contursi, President of Rare Coin Wholesalers (www.RCW1.com).

Wing became a prominent Southern California architect who co-designed the Long Beach Arena in the late 1950s. He passed away in 1996.

“When his heirs recently asked me to examine the coin, I doubted it was genuine. But then I got a magnet and was surprised when the coin did not stick to it. So, on behalf of Mr. Wing’s heirs I submitted it for certification,” Contursi explained.

“It’s delightful and amazing there are still examples of great numismatic rarities to be ‘discovered’ and reported to the hobby.”

Contursi plans to publicly display the 1943-S bronze cent at various coin shows including the upcoming American Numismatic Association World’s Fair of Money® in Baltimore and the Long Beach Coin, Stamp & Collectibles Expo in September. To honor the memory of the coin’s finder and the family that owned it for 64 years, he requested that NGC include the notation on the encapsulation insert label, “Kenneth S. Wing Jr. Coll.” (more…)