1787 Fugio Copper. Pointed Rays. Newman 15-V, W-6910. Rarity-5. STATES UNITED, 4 Cinquefoils. EF-40 (PCGS).

An unusually choice example of this elusive variety, boasting superb deep chocolate brown color on smooth, even surfaces. Were this a large cent, the color and surfaces would be deemed choice, but for a Fugio copper, struck under more primitive circumstances and from cruder planchet stock, a circulated piece with this kind of surface quality is even more of an outlier. The slightly downward centering -- typical of this die marriage -- allows for a broad arc of denticles to be visible from 10 o'clock to 3 o'clock on the obverse, but all but the bottom of B in BUSINESS is complete and on the planchet. On the reverse, a full length of denticles frames the bottom half of the coin, with some vestiges of the denticles present as far north as 1 o'clock. The obverse is positively problem-free, while the reverse shows just a very thin, singular, old scratch within the two rings closest to 5 o'clock and some microscopic striations in the same area. A hint of buildup is seen within the ring at 6 o'clock. This beautiful coin saw strong bidding in our 2012 sale of the Rob Retz Family Collection where it realized $7,637.50. A few higher grade examples are known, but this one easily rivals them in the eye appeal and surface quality categories. A great piece for the connoisseur and comes with a nice provenance.

PCGS# 878105.

From the Pierre Fricke Collection. Earlier from our (Stack's) sale of the Richard Picker Collection, October 1984, lot 293; our (Stack's) sale of the John W. Hancock, Jr. Collection, November 1994, lot 83; Heritage's 1996 ANA sale, lot 5250; our sale of the Rob Retz Family Collection, November 2012 Baltimore Auction, lot 6807.