1787 New York Excelsior Copper. W-5800, Breen-991. Rarity-7-. Standing Indian / Eagle on Globe. VF Details--Environmental Damage (PCGS).
117.2 grains. 28.2 mm. 180 degree die rotation. A sharp and appealing specimen despite the surface roughness left by ground exposure. Light brown devices contrast with darker fields. A bit of verdigris remains around the central obverse, mostly between the Indian figure and his bow. Some whitish foreign matter on the reverse is probably old adhesive or something of the sort, removable but innocuous. The patina is a bit thin in areas of the obverse field, but the overall impression is of a nicely preserved and little circulated coin that spent some of its history in the ground. The centering is marginally off to 6 o'clock on the obverse, barely affecting a few letters at the lower obverse but allowing for complete denticles at the top of that side; this sort of centering is pretty typical of the issue. The reverse centering is close to ideal. Both devices are crisp, down to the facial details on the Indian and feathers on the eagle. No significant marks require mention. This example, oddly enough, was "found in a collection of miscellaneous coppers by a sharp eyed specialist in the United Kingdom" before its appearance in our (Stack's) 2002 Americana sale, where it was acquired by Syd. There were eight of these known at the time, though the census now comprises 10 pieces with the additions of a new high grade specimen (PCGS MS-64) and a VF Details (NCS) specimen with environmental damage that was offered in a January 2004 Heritage sale and again in the May 2022 Dittmer sale. The Eagle on Globe type is just a bit scarcer than the Standing Indian type with the New York Arms reverse. Fully half of these are AU or better (a fact that seems to support the idea that these were patterns, not a small production endeavor for circulation). The type with the New York Arms reverse is a bit more heavily weighted toward lower grades, with only one true Uncirculated example (the magnificent Eliasberg coin).
PCGS# 439.
From the Sydney F. Martin Collection. Earlier discovered in the UK; our (Stack's) Americana sale, January 2002, lot 234.

Estimate: $24000