May 13, 2004

New 1795 Half Cent with 1794 50¢ Undertype Discovered
Struck on cut down half dollar die trial, coin to be sold in ANR June Sale

(WOLFEBORO - MAY 1) American Numismatic Rarities of Wolfeboro, New Hampshire is please to announce the new discovery of a significant rarity within the half cent and pattern series, a 1795 Cohen-5a half cent struck on a cut down copper die trial for a 1794 half dollar. The copper half dollar die trial was struck from the Overton-105 die marriage, then cut-down for use as a planchet. Only one complete 1794 half dollar die trial in copper (Judd-17) is known, permanently a part of the National Numismatic Collection at the Smithsonian Institution. All 1794 half dollar die trials in copper in private hands are actually known as undertypes on 1795 half cents. This piece brings the total of such pieces known to 5.

The coin was discovered by Christopher Young of Chesapeake Bay Rare Coins, Spencer, New York, and brought to ANR Director of Numismatic Research John Kraljevich for attribution of the undertype. Working together, Young and Kraljevich discerned that the discovery was over a 1794 Overton-105 die trial. 1795 half cents are known struck over spoiled error large cents and, most commonly, Talbot, Allum, and Lee tokens, but the clear presence of the eagle's head and wing in the obverse field of the half cent quickly eliminated both of those options. "Enough evidence of the undertype remains to allow for positive attribution, making this only the second half cent known to be struck over a 1794 O-105 die trial," Kraljevich said. "A coin like this really bridges the gap between a rare half cent and a rare pattern, and it should bring hope to other would be discoverers that new things really are out there waiting to be found."

Many 1795 and 1797 half cents show signs of undertype, mostly the above mentioned Talbot, Allum, and Lee tokens. The U.S. Mint purchased more than a ton of the tokens from the New York company as scrap copper, choosing to simply cut the tokens down rather than re-melt and re-roll the copper into suitable planchets. Some half cents, like those dated 1802, are commonly found on cut-down erroneously struck large cents. The only copper 1794 half dollar to survive, an Overton-108, was placed in the Mint Cabinet; a copper 1794 dollar die trial (Judd-19) is also in the Mint Cabinet at the Smithsonian.

The new discovery will join many other rare half cents in the June 24-26 ANR Classics Sale in Chicago, the official sale of the MidAmerica Coin Exposition. Other half cent highlights include an extremely rare 1796 No Pole half cent, Cohen-1, graded F-15 by ANACS. A long run of rare Proof-only half cents from the Joe Medio Collection are also slated to hit the auction block, led by an 1831 Reverse of 1836 and the Proof-64 RD (PCGS) 1835 half cent from the Pittman Collection.

American Numismatic Rarities is a team of professionals with over 250 years combined experience in numismatic auctions: Christine Karstedt, Q. David Bowers, Dr. Richard A. Bagg, John Pack, Frank Van Valen, John Kraljevich, and photographer Douglas Plasencia, among others. Founded with a goal of presenting the finest numismatic auctions in America.
The next ANR event is scheduled for June 2004 in Chicago, Illinois.

For more information about the new half cent discovery or for details on how to consign to a future event, contact American Numismatic Rarities at Box 1804, Wolfeboro, New Hampshire, 03894 or call 866-811-1804.

The American Numismatic Rarities website, including full photos and text from all previous ANR sales, is available online at www.anrcoins.com.