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Sale 54
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Lot 958
1849 N-25 R7 PCGS graded MS63 Brown. Glossy light chocolate and steel brown with traces of mint red showing in protected areas on both sides. There is a faint hint of friction on the highest points of the design, but the surfaces are nearly flawless. The only marks are a tiny diagonal nick right of the upper lip, a very faint spot of darker chocolate toning in the field under the tip of the chin, and a speck of dark toning over the O in ONE. This cent is quite attractive in its own right, but it is highly significant for other reasons. Newcomb used this cent to identify the N-25 die variety in his attribution guide for the series, and it remained the only known example for many years thereafter. Subsequent researchers came to the conclusion that N-25 was merely a die state of N-10, and the variety was delisted by Jules Reiver. Your cataloger, while studying the Naftzger collection in 1989, discovered that this cent was indeed a separate die variety. The obverse may be an early state of the N-10 obverse (which is doubtful), but the reverse is certainly not from the N-10 marriage. Both of the N-25 dies are new and display sharp die finishing lines, but they have uneven fields with strong crumbling around many of the stars and severe die erosion at ERICA. Ted Naftzger disagreed with those who saw this as merely a die state of N-10, and he continued to support Newcomb's conclusion. Only 7 examples are known, and this is clearly the finest of that small group. Obviously these clearly inferior dies were quickly retired. Called AU55 and CC#1 in the Noyes census, his photo #30627. Our grade is AU58, CC#1 in the Grellman census. This cent is one of the most significant pieces in Ted's collection of late date cents.
Estimated Value $5,000-UP.
Ex Howard R. Newcomb-Floyd T. Starr, Stack's 6/13/84:625.
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