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ARTICLE: ANOTHER 1794 STARRED REVERSE LARGE CENT DISCOVERED?
Here's an intriguing item that came out last weekend, but didn't make it into last Sunday's E-Sylum. According to the article, a 1794 Starred Reverse Large Cent was recently discovered and sold last Saturday in Lebanon, PA. It's a low-grade piece said to have been discovered with a metal detector. Has anyone seen or heard about this piece? Has it been confirmed as a genuine specimen? Who bought it - will it reappear in a major numismatic auction?
-Editor
Wolfe discovered the 1794 large cent with a starred reverse in a collection that was consigned for sale. "Although the U.S. mint made many 1794 large cents, the starred reverse is a very rare variety and is highly sought after by collectors," Wolfe said. "No one knows how many of this variety were minted, but information on the Internet indicates that there are about 60 known to exist." Because of the coin's condition, Wolfe was hesitant to place a value on it. A search of coin-collecting sites on the Internet showed a wide range of values for the coin, with most close to $10,000 but some ranging as high as $80,000. "I thought it was pretty unique, to find a rare variety like that in the ground," Wolfe said. The rare coin was in a box with other types of coins presented to Wolfe. "As I studied the coin, I realized what I was holding in my hands," he said. His client was not aware of the coin's value. "When he consigned his collection to me we had discussed the contents of his collection, and this rare coin was not mentioned," Wolfe said. "I contacted him and informed him of my find. He was totally amazed and happy. He did not know he had this prized coin in his collection." To read the complete article, see: Rare 1794 coin to be auctioned Saturday (www.ldnews.com/lebanonnews/ci_18104567)
The "metal detector" part sounds fishy. If you found a 1794 coin wouldn't you research it then and there?
According to this account, the finder just threw it into a box of other coins. Anyway, here's a post-sale report.
-Editor
A rare coin worth one cent when it was minted fetched $5,500 at an auction in Lebanon County over the weekend. The rare 1794 large cent with a starred reverse was sold to a Hummelstown coin dealer who had not immediately decided whether to sell it or keep it, according to auctioneer Russell Wolfe Jr. Wolfe said the rare copper coin could have sold for more than $10,000 had it not been corroded from spending decades underground. The seller, a Myerstown area man who found the coin with a metal detector, was said to be happy with the price. Wolfe said the seller didn't know how rare the coin was until he consigned his collection for the sale. To read the complete article, see: Rare penny fetches $5,500 at Lebanon auction (www.abc27.com/story/14698920/rare-penny-fetches-5500-at-lebanon-auction)
Here's some text (with images) about the starred reverse cent taken from a web page about a specimen discovered in 2008.
To read the complete article, see:
NCS Certifies Newly Discovered Specimen of the Rare Starred Reverse Cent
(www.ncscoin.com/news/viewarticle.aspx?IDArticle=1375)
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