1787 Excelsior Copper. W-5785. Rarity-6. Eagle on Globe Facing Left.

ice Choice EF 1787 Heraldic Eagle Excelsior Copper Ex Wurtzbach and Brand Collections 1787 Excelsior Copper. W-5785. Rarity-6. Eagle on Globe Facing Left. EF-45 (PCGS). A sharp and attractive example of this classic type. Nicely centered on both sides, with all but the top of the eagle's head, bottom of a few letters in EXCELSIOR, and the top of the letters US in PLURIBUS on the planchet. The Heraldic Eagle side shows denticles intermittently from 5 to 7 o'clock, obverse with a faint trace of denticulation at 3 to 4 o'clock. The boldness to the major design elements in and around the centers is impressive, and the visual appeal is nice, with generally olive-brown surfaces and hints of crimson nestled around many of the devices, especially on the reverse. The latter color is associated with minor surface scale that does not detract, surfaces with no singularly mentionable marks and good gloss. With the Articles of Confederation reserving coinage rights for the individual states, in early 1787 several petitions reached the Legislature in New York seeking approval to issue copper coins. In the end, however, the New York Legislature decided against authorizing a new coinage and instead opted to regulate the copper coins already in circulation. Even so, several unauthorized copper issues made their appearance in the state, primarily from the private mint known as Machin's Mills, located at the outlet of Orange Pond near Newburgh, and those enterprises operated by John Bailey and Ephraim Brasher in and near New York City. The Nova Eborac and Excelsior pieces are attributed to Bailey and Brasher, although beyond that little is known either of their overall coinage operations or the specifics of these issues. The Excelsior pieces are far rarer than their Nova Eborac counterparts. There are three basic varieties of the former type, combining an obverse with the New York Arms and the word EXCELSIOR with a Heraldic Eagle reverse. One of those varieties shows a Heraldic Eagle with the arrows in the talon at left, the so-called Transposed Arrows reverse, W-5775. The other two use the same Heraldic Eagle dies but two different New York Arms dies, one showing the tiny eagle atop the shield facing to the left, as seen here, and the other showing that tiny eagle facing to the right (W-5780, offered above). The Transposed Arrows variety is the rarest, with just six known. This is the more common of the two others, although we caution bidders that most survivors of the W-5785 in numismatic hands are in low grades, and often with significant impairments. Indeed, our typical offering for this type is in the Fine to VF grade range, with surface and environmental damage topping the list among problems to expect. The Emerald Coast collector's discerning eye clearly recognized the rarity of such smooth, problem-free surfaces as seen here which, when combined with above average definition, makes for a coin that would be difficult to improve upon for the collector seeking a single Excelsior copper for type purposes, or the specialist who desires a superior example of the W-5785 type. We have offered only one sharper example in recent years, the PCGS AU-50 in our March 2017 sale of the Anthony Bettancourt Collection. Yet while that piece retained more definition than seen here, it also carried several noticeable marks, including a number of nicks at central reverse and an unfortunate scrape on the obverse through the first letter E in EXCELSIOR. We find the Emerald Coast specimen more pleasing and overall finer, and are confident that knowledgeable bidders will agree. It is comparable in most respects to the Sydney F. Martin coin, also certified EF-45 by PCGS, that realized $21,600 in our Spring 2023 Auction installment of his remarkable collection. Provenance: From the Emerald Coast Collection. Earlier ex Carl Wurtzbach; Virgil Brand; later, Heritage's Baltimore ANA Signature Auction of July-August 2008, lot 1483. PCGS# 427. NGC ID: 2B3M. Click here for certification details from PCGS.

Estimate:£0.74

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