1786 Immunis Columbia / 1785 Confederatio Copper. W-5665, Breen-1128. Rarity-8. Large Circle. Good-6 (PCGS).
130.9 grains. 28.5 mm. 30 degree die rotation. A highlight rarity in the Immunis Columbia and Confederatio series, and a unique bridge between them. Dark olive brown with some earthen ruddy and green encrustation in a few areas. A patch of that scale is seen on the obverse rim above LU of COLUMBIA, another near central obverse. On the reverse, a small patch is seen at the distant rim near 9 o'clock, and small clumps are noted in the upper right quadrant of that side. The obverse is well centered and well detailed, with deep brown color and good contrast despite the fine ground-induced granularity. Some fine old scratches remain from when this piece was disinterred, but they blend into the overall patina; only an arc near the left reverse perimeter stands out. The obverse is probably best graded Fine or so, the reverse About Good to Good, though every letter of CONFEDERATIO remains visible and the 1785 date is still clear. The dual date nature of this piece, with its 1785-dated reverse married to a 1786-dated obverse, makes one thing clear: the Confederatio dies were used over a non-momentary period of time and probably for at least two purposes. This also means the dies may have changed hands, as tools do, when partners come and go, or business plans change. The 1785-dated Confederatio dies were clearly used to make patterns for a potential Federal coinage contract. The 1786-dated Immunis Columbia die was used by the New Jersey coiners, perhaps for a similar purpose. The combination of them may have been done for a rational purpose, or not. Either way, from the tiny extant population, it's clear not many were struck, and there was no large scale production intended. Only two of these are known. One is superb: the Newman coin has an extensive provenance back to the pre-Civil War collection of Jacob Giles Morris. Graded MS-64 BN (NGC), it brought $152,750 in November 2014. This example, said to have been last sold at auction in 2002 but missing from the online archives, is the only other example traced.
PCGS# 869.
From the Sydney F. Martin Collection. Earlier said to be from Heritage's 2002 ANA sale, August 2002; Tom Rinaldo, June 2006.

Estimate: $17000