1794 Liberty Cap Cent. S-33. Rarity-6. Head of 1794. Fine Details--Cleaned (PCGS).
Pleasing quality for the assigned grade, especially for an example of this rare and conditionally challenging die pairing. The obverse retains bold outline detail to all major design elements, and there is even some sharper definition nestled within the recesses of Liberty's hair. The central reverse is blunt due to the interaction between the advanced die state and heavy commercial use, although the peripheries are sharp with full border denticulation and the legend and denomination 1/100 are bold. Curious vivid rose-apricot color and a somewhat glossy texture explain the PCGS qualifier, although the surfaces have begun to mellow down with some secondary olive-brown patina evident. A spot below Liberty's chin is also noted for accuracy, but there are few sizeable marks. Noyes Reverse Die State C, "6 Spokes" variety. The early large cents have long fascinated numismatists because of the sheer number of different varieties that have been found. Three separate bust types were employed, the Head of 1793 bust type that used Joseph Wright's original bust, a new high relief Head of 1794 by new Chief Engraver Robert Scot, and a reduced relief Head of 1795. Of the dozens of varieties of the Head of 1794 obverse type, few are as dramatic as the Sheldon-33 "Wheel Spokes" reverse. The S-33 is the end result of a sudden and catastrophic failure of the reverse die that radiated outward from the center along six prominent cracks much like the spokes of a wagon wheel, hence the variety's common epithet. Typical of the S-33 is a prominent bulging in the center that usually obliterates much of the center design elements on the reverse. The six "spokes" radiate and run through the I in UNITED, between the D and S in UNITED STATES, between the A and T in STATES, through the first A in AMERICA, and one each on either side of the denomination. It is probably this type of die failure that led to the Head of 1795 with its reduced relief in an effort to decrease the strain on the dies. The S-33 variety has been known for many years; William Hays discovered this variety in 1888 and was the first to describe it. For advanced specialists, terminal die states are among the most coveted varieties as they show a snapshot of a die at the very end of its service life. The S-33 reverse die did not last much longer after the six massive cracks developed and spread, making this a truly rare variety among the 1794 large cents. Originally rated as an R-7 in the 1950s, a few additional coins have appeared since then, which has since been reclassified as an R-6 with maybe two dozen or so known specimens. This is not a variety to seek out if looking for Mint State coins; the top of the Condition Census is occupied by a solitary VF-35 coin and the next highest slot is held by a VG-8 piece. An extraordinary rarity with most examples in very tightly held collections, auction appearances such as this are very rare indeed. This relatively pleasing example - a newcomer to the census for a classic 1794 variety - is surely destined for an advanced cabinet of early large cents.
PCGS# 35564. NGC ID: 223P.
From the Collection of Richard Evans Norton (1872-1946).

Estimate: $10000