1787 New York Excelsior Copper. W-5775, Breen-978. Rarity-7+. New York Arms / Heraldic Eagle Reverse. Eagle Facing Right, Arrows at Left. AU-53 (PCGS).
137.3 grains. 28.7 mm. 170 degree die rotation. A superb example of one of the rarest Excelsior coppers. Choice glossy medium brown with superb surfaces and eye appeal. A natural planchet lamination near 9 o'clock on the EXCELSIOR side is the principal identifying defect, related to a few less significant fissures on that side, including one that descends diagonally through the central arms. The Heraldic Eagle side is aligned to the left, common on this issue, and a tiny planchet clip is noted right of the date (similar to one seen on the Stickney coin). Both sides are exceptionally well detailed, and this distinctive Heraldic Eagle die stands out for both its small date and the arrows in the left claw. Some deeper toning and old harmless verdigris surround the stars and eagle device, and an arc die crack extends from the wing at left through PLUR. Aside from some scattered fissures on the EXCELSIOR side which give the planchet a somewhat crude appearance, this piece is problem free and free of post-striking issues. In our (Stack's) May 2004 Ford II sale, Michael Hodder enumerated six examples from these dies. 1.The present coin, ex Eric P. Newman. Then unseen for generations, it was listed last on the basis of two incorrect assumptions (namely, that it was the Parmelee coin and that it graded "Good," as the Parmelee coin was in 1890). Ironically, the Ford coin was itself the Parmelee coin. 2.The Norweb coin (Bowers and Merena, March 1988, lot 2683). Fine to VF. 3.The Ford coin (Stack's, May 2004, lot 311). Fine to VF. Ex John Story Jenks (Henry Chapman, December 2021, lot 5495). Earlier ex Parmelee (as noted above) and plated in Crosby, Plate VII, No. 24 4.The Garrett coin (Bowers and Ruddy, November 1979, lot 600). Nice VF. Said to be ex Parsons, but this was not in the 1914 Parsons sale. 5.The Stickney coin (Henry Chapman, June 2007, lot 242). Listed incorrectly as "Stickney:460" in Ford. When Crosby used the Parmelee coin as the plate piece, this was the only other example known. VG to Fine. 6.The Marshall's Sale coin (Manheim Auctions, July 2000, lot 32). Earlier ex New Netherlands 35th sale, November 1951, lot 177. Unplated but described as "poor and battered." From the images and descriptions of the preceding coins, and with no others known or rumored, it's clear that this piece is far and away the finest extant from these dies. It also stands as one of the finest Excelsior coppers of any variety. We haven't sold any Excelsior copper this nice since the 2018 Archangel sale. That cabinet, though it included a Mint State George Clinton copper, a choice AU Standing Indian / New York Arms copper, and the lovely AU New York Arms / Heraldic Eagle copper from the 1904 Mills sale, lacked this variety entirely.
PCGS# 430.
From the Sydney F. Martin Collection. Earlier ex the Waldo Newcomer Collection; B. Max Mehl, 1931; Col. E.H.R. Green Collection, before 1936; Green Estate, via St. Louis Stamp and Coin Company (Burdette G. Johnson and Eric P. Newman); Eric P. Newman; Eric P. Newman Numismatic Education Society; Heritage's sale of the Eric P. Newman Collection, November 2014, lot 3027.

Estimate: $65000