Undated (1795) Washington Liberty and Security Penny. Musante GW-45, Baker-30D, W-11060. Fire-Gilt Copper. ASYLUM edge. MS-62 (PCGS).

33.0 mm. 303.9 grains. Lovely pale gold surfaces shimmer with soft luster. Some light surface debris is noted in places, and there are some very light hairlines. A series of fine scratches in the reverse left field is an unfortunate imperfection that we have seen on other gilt pieces suggesting that convincing gilt surfaces prompted gold test marks. Copper outlines around the radially outermost portions of letters clarify that this piece was fire gilt prior to striking and not a later treatment. It is guaranteed to have been made this way. Most of the gilding is perfectly intact with only minor losses on Washington's side curls and on the rim in a few small spots. The edge is also interesting on this piece. While it bears the usual AN ASYLUM FOR THE OPPRESS'D OF ALL NATIONS lettering, the planchet had clearly been prepared for a different issue previously. An edge ornament featuring a band of twinned leaves is seen around the entire circumference, but was partially flattened when the Asylum edge was applied. No undertype is noted on either the obverse or reverse, so this was not likely struck over another finished issue. Walter Breen noted the type as "rarely gilt," which is probably a bit of an understatement considering the general availability of the type in copper. In preparation for the writing of the Historical Society of Pennsylvania sale, the present writer surveyed thousands of individual 19th-century auction listings, and while that was by no means an exhaustive effort, it is notable that only two fire gilt Liberty and Security pennies appeared. One was in the 1863 Seavey sale, the other in the October 1870 Fewsmith sale. Our online archives include fewer than ten fire gilt examples of the Liberty and Security penny, but notably all but one of these have virtually all their gilding lost. Only a single example retains as much as this one, that being the Norweb specimen sold in November 2006. As we noted at the time of that offering: "Fuld estimates that 'probably 10 are known' in fire gilt copper…Ford did not own one, nor did Garrett, Picker, Steinberg, Collins, LaRiviere, Roper, or the consignor of the Washingtonia in our Old Colony Collection sale of December 2005." The quality of this piece generally compares well with the Norweb example in terms of wear and degree of gilding that remains. It is a great rarity in the series and undoubtedly specialists will delight in this opportunity to acquire one, the first in more than 15 years.

From the E Pluribus Unum Collection.

Estimate: $ 3500