1787 New Jersey Copper. Maris 37-X, W-5145. Rarity-6+. Outlined Shield, Goiter. VF Details--Environmental Damage (PCGS).
146.5 grains. A rare and exciting New Jersey copper, one of the very sharpest known examples of one of the stoppers in the series. Glossy medium brown devices stand out from somewhat encrusted mahogany and olive fields. The right side of the obverse shows significant scale from ground exposure, while the reverse corrosion is more subtle everywhere but above the shield. Some old abrasions are seen (probably from the time of discovery), but the surfaces are stable and offer a fairly decent look overall. The devices are sharp, and the reverse shield is well defined. The reverse's sharpness is aided by the relatively early die state, Die State 1 or close to it, before the reverse swelling really starts to steal the shield detail. The reverse is ideally centered, while the obverse is aligned to the right and shows the die edge at left. Since the October 2003 Ford I sale, we have sold five different examples of this extremely rare variety. The most recently sold, Syd Martin's PCGS VG-10, previously sold in our (Stack's) September 2006 sale. Unlisted on the SHI Census, it brought $12,000 last summer. The Maris plate coin for the X reverse brought $19,200 in the November 2019 EPU sale. Given the same grade by PCGS as this one, that piece is a bit prettier but the quality is not terrible different overall. That piece is ranked tenth on the SHI Census, but probably deserves a higher spot. The piece atop the SHI Census is graded VF, though it may be technically finer. The rest of the census is populated by coins graded Fine: three F+, four F, and two F-. This piece doesn't appear on the list, but by virtue of its sharpness it should be under consideration. The other examples we've sold since Ford were both sold raw: a Fine in the 2017 Dr. Gordon Shaw sale (ranked seventh) that brought $7,050 and the Joel Geoffrey coin, likewise graded Fine when we sold it in 2011; it brought $17,250. The well worn Spiro coin was sold in our (Stack's) 2010 Scherff sale for $7,475. The Partrick coin sold in March 2021 as NGC VG-8 for $16,800; while circulated, the coin is one of the few examples of this variety that might be called choice. While this is no longer a Rarity-7 variety, the rare Maris numbers struck from the X reverse continue to carry a certain charisma, and this piece represents one of the finest examples of that reverse around.
PCGS# 766285.
From the E Pluribus Unum Collection.

Estimate: $10000