1786 Connecticut Copper. Miller 5.3-B.2, W-2565. Rarity-7+. Mailed Bust Left, Hercules Head. AU-53 (PCGS).

121.0 grains. A preeminent highlight of the Syd Martin Connecticut coppers offered in this sale, here is arguably the finest known example of a legendary rarity, the 5.3-B.2 Hercules Head. Along with the 5.3-G to follow, these two extremely rare varieties of this iconic type have long held an elevated stature among varieties of the series. Their special status stems from their well established rarity, and from the fact that they involve a distinct and popular head type. The rare Hercules Head varieties have been well known for over a century. Miller had an example of 5.3-B.2 (later the Ford coin), and Hall had an example of 5.3-G, the lot to follow. Despite their early discovery and obvious diagnostics, extremely few have come to light over the years, just four examples are known of 5.3-B.2 and five of 5.3-G. Not only is 5.3-B.2 the slightly rarer of the two, it also carries more numismatic significance in the context of the series, as it features a distinctive reverse die found only in this combination. Remarkably, three of the four examples of this variety are in high grade, nearly Uncirculated condition. This is quite incredible for such a rare variety and also considering the lower grades in which examples of the common Hercules Head variety, Miller 5.3-N, tend to come. This impressive coin is clearly the choicest among the four known examples of 5.3-B.2. It boasts glossy, lustrous, unflawed surfaces that are a natural mix of light golden-brown and darker chocolate. A short scratch on the reverse shield is the only mark we can find. A bit of harmless old dirt along the lower reverse rim and in the right obverse field is noted and gives the coin nice originality if anything. The strike is ideal, perfectly centered and the detail well brought up in general with slight weakness evident on small portions of the central motifs. There is very little if any actual wear. The familiar Hercules Head obverse die appears crisp and new. This is likely the first use of that die. The reverse, on the other hand, appears little used in some respects, still showing fine die finishing lines and no flowlines, but is sinking dramatically in the fields and two very heavy die cracks are forming at the upper obverse rim, with other spidery cracks along the lower left border. This is clearly a die that failed spectacularly and quickly, no doubt the cause of the variety's rarity today. With the sale of this coin, all four examples of the variety will have appeared at auction since 2000. The 1975 EAC Sale-Perkins coin, the only really worn example but still a nice VF, realized $21,850 in our January 2000 sale of the Perkins Collection. The Miller Sale-Ford specimen realized $80,500 in our May 2005 Ford sale. That coin was called Uncirculated and is more sharply struck than the present coin, but also had some planchet flaws on both sides and was slightly off center. The Ford catalog called it technically the finest known but second to Garrett's, the coin at hand, in terms of eye appeal. The most recently discovered specimen is a PCGS AU-50 that realized $86,250 in an April 2010 Heritage sale, and a bargain $26,400 when resold in the Twin Leaf Collection in our March 2019 auction. That piece, similar to the Ford coin, was marginally sharper in strike but also off center and had a few planchet flaws. All three high grade examples have remarkably similar color, suggesting the planchets were all from the same small section of planchet stock, again pointing to an extremely limited production and confirming the real rarity of the variety. While making a finest known claim for this variety is problematic (Syd diplomatically noted this coin as "Tied FK"), we consider it to be the most attractive specimen. Its first auction appearance in over 40 years is an exciting opportunity and will reward one lucky collector with a supremely desirable Connecticut copper.

PCGS# 905516.

From the Sydney F. Martin Collection. Earlier ex Col. James Ellsworth Collection; our (Bowers and Ruddy's) sale of the Garrett Collection, Part III, October 1980, lot 1345; Anthony Terranova Collection, January 2012. Plated in Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins. Plated in Randy Clark's "The Identification and Classification of Connecticut Coppers 1785-1788," pp. 233, 255, 276.