Legend Numismatics Completes Major Acquisition - WOW!!!! SORRY-***REPEAT Thread***

Goldbully

Legend Numismatics Completes Major Acquisition
Posted by Legend Numismatics on March 24, 2011 11:54 AM



World-Class Type Set Includes SP65 1793 AMERI. Chain Cent
Legend Numismatics of Lincroft, New Jersey is pleased to announce the purchase of a world-class partial Type set that has been off the market for many years. This set contains a number of spectacular rarities in superb condition. Included in the set is the famous Mickley 1793 AMERI. Chain cent in PCGS Specimen 65. This is the finest AMERI. Chain cent ever graded by PCGS and is valued at over $2 million.



Other highlights include a run of some of the finest-known proof Morgan dollars including the mindboggling 1893 Morgan dollar in Proof 69 DCAM; an 1836 Gobrecht dollar in PCGS Proof 66, the finest graded at PCGS; a 1856 Flying Eagle cent in Proof 67, pop 1 none finer; and several top-pop proof gold pieces.

“The circumstances of this purchase were extraordinary,” said Laura Sperber, Legend Numismatics partner. “The owner of the coins was a neighbor of one of the Legend partners, Bruce Morelan. Bruce discovered the extent of his neighbor’s collection completely by accident. It turned out to be a lucky coincidence for everyone involved.

Legend has known about most of these coins for years and we have always had an interest in owning them. The negotiations were short and the collection was purchased outright for several million dollars. Legend and Bruce Morelan had to own these coins; fortunately it all worked out.”

“PCGS was thrilled to see a collection of this caliber. We see a great many coins, but we are always excited to examine some of the finest coins ever minted,” said Don Willis, President of PCGS. “This group of spectacular coins was highlighted by the Mickley 1793 AMERI. Chain cent graded Specimen 65 by PCGS.

The pedigree of the Mickley chain cent includes many famous collectors and dealers such as Edward Cogan, W. Elliot Woodward, Lorin Parmelee, Virgil Brand, Harold Bareford, Herman Halperin, R.E. Naftzger and several others. The superb condition that the coin remains in today is a testament to the great care all of these individuals exercised over the years. Congratulations to Bruce Morelan for adding this amazing coin to his world-class type set!”





PCGS Link

CoinWeek Link

llafoe

I was thinking to myself... what we need is a third thread on the Chain Cent Bruce purchased... then, BAM!

Broadstruck

I don't mind seeing this chain cent in 2 or 3 threads!

mrearlygold

Awesome

melvin289

Not only does this coin cost more than my house, it cost more than the block I live on.

Astolutely Beautemous coin.

Ron

Coinosaurus

I keep looking at that reverse scratch.

I admit I have a problem

Steve27

<< <i>I was thinking to myself... what we need is a third thread on the Chain Cent Bruce purchased... then, BAM! >>




ROFL! Thanks, I needed a good laugh!

PLE

I have a question about that coin.

Did that coin really survive for over 200 years in that condition and color?

So, in over 200 years, nobody handled that coin or cleaned that coin, or doctored that coin. Is that possible?

Coinosaurus

<< <i>I have a question about that coin.

Did that coin really survive for over 200 years in that condition and color?

So, in over 200 years, nobody handled that coin or cleaned that coin, or doctored that coin. Is that possible? >>



The provenance goes back to the 1850s. Obviously they didn't have color photography then, but I bet if you look at the earliest auction plates it's pretty close.

etexmike

This is a thread that can be repeated often.

What a fantastic coin.


Mike

PLE

The provenance goes back to the 1850s. Obviously they didn't have color photography then, but I bet if you look at the earliest auction plates it's pretty close.

Why aren't there any carbon spots? Why isn't the color a deep chocolate brown? I am not trying to be critical. I am just curious to understand how this coin could survive for over 200 years in this color and condition. The coin must have been exposed to humidity during that time period.

cardinal

Undoubtedly one of the most important of all early U.S. coins, THE Mickley AMERI cent is a beautiful, lustrous chocolate brown when viewed in hand. I think the high-intensity lighting used for the high resolution photos ended up being reflected back to the camera from the coin's prooflike surfaces, and the color became somewhat washed out.

This is how the coin appears in Bill Noyes book on the condition census of the large cents of 1793 and 1794:



This picture shows the beautiful original brown color of the coin, but loses the crisp definition of Liberty's hair and the luster of the surfaces. Now, if we could only get a photo that captures all of that!

Here's how the coin looked in its old generation PCGS holder -- what a beauty!

ecichlid

Wow, that's a big difference in the photos. Was the coin "conserved"? Or is it just the photos that are so different? What is the reason for the BN designation in the old holder and not the new one?

PLE

Thanks for the photos, cardinal, which are very helpful. If the coin is really chocolate brown, like your pictures, then I am less concerned. I don't understand, however, why the true view picture looks so different. Was there was some type of conservation effort on this coin?

tradedollarnut

<< <i>Thanks for the photos, cardinal, which are very helpful. If the coin is really chocolate brown, like your pictures, then I am less concerned. I don't understand, however, why the true view picture looks so different. Was there was some type of conservation effort on this coin? >>



Hell no! Geez! How stupid do you have to be to mess with a $2M copper coin?

The coin is not a monotone chocolate brown, nor is it as light as the TrueView. It is brown, lustrous and lively. The picture that is closest to its true appearance is the old holder picture. Add some luster and pizazz and that's the one that nails it.

ecichlid

Thank you for the clarification Bruce. Again, congratulations on your purchase! We look forward to seeing the coin in person!

blu62vette

If the coin is PL as Cardinal mentions and then the coin was placed at a slight angle for the image it would be easy for the look to be that of the OP image. PL copper looks very brown head on and then at an angle they come to life. I could easily see all the images in this thread representing the coin and a couple angles.

PLE

Thank you, blu62vette, for explaining the color. Incidentally, I like the chocolate brown look better. Anyway, congratulations to the owner!

ChrisRx

AMAZING piece of early American coinage. Fantastic!

keets

the moral of the thread is that the coin has remained unchanged over the years but online coin photography hasn't. i also prefer the picture in the old holder since it looks more representative of what i'd expect it to look like, while the TrueView has that "cartoonish" look that others have commented on in the past. with all the technological advance in imaging when will someone perfect a method of being able to show a coin in a static position while the lighting moves around it??

Goldbully

<< <i>Undoubtedly one of the most important of all early U.S. coins, THE Mickley AMERI cent is a beautiful, lustrous chocolate brown when viewed in hand. I think the high-intensity lighting used for the high resolution photos ended up being reflected back to the camera from the coin's prooflike surfaces, and the color became somewhat washed out.

This is how the coin appears in Bill Noyes book on the condition census of the large cents of 1793 and 1794:



This picture shows the beautiful original brown color of the coin, but loses the crisp definition of Liberty's hair and the luster of the surfaces. Now, if we could only get a photo that captures all of that!

Here's how the coin looked in its old generation PCGS holder -- what a beauty!

>>



That's more like it!!!

golden

That Chain Cent is the one coin that I would want to buy if I won the lottery!