Fred 2 Book

LOT 553 1851 N-16 R3 First 1 Repunched AU58. Glossy olive and light chocolate with faded mint color covering 5-10% of both sides. A spot of slightly darker reddish chocolate toning in the field off the tip of the nose and a spot of dark olive at S-O are the notable marks. M-LDS, die state b. The repunching on the first 1 is gone and the fields are covered with radial die flowlines. Our grade is AU58, tied for CC#13 in the Grellman census. Removed from a PCGS holder graded MS64BN (PCGS label #406693.64/18900421 included, and it shows the attribution and Naftzger Collection provenance).  Ex H. P. McCullough, Stack’s 11/20/1967:136-R. E. “Ted” Naftzger, Jr.-Naftzger Estate, McCawley & Grellman Auctions/Goldbergs 9/7/2009:1046-Fred H. Borcherdt Collection (includes the Stack’s lot envelope/Naftzger collection envelope)  EARLY STATE N-17 TIED CC#3

LOT 554 1851 N-17 R2+ First 1 Repunched, PCGS graded MS64 Brown, CAC Approved. Very attractive lustrous medium olive and chocolate with 10-15% of the mint red remaining, mostly on the reverse. Sharply struck with just a few trivial marks including a couple tiny spots of darker toning at star 3 and a tiny diagonal nick left of the ear. Very early die state (VEDS), die state a early, with fine diagonal die lines covering the fields on both sides. Traces of repunching show on the first 1 and the fields on the reverse are smooth and reflective. An impressive die state with great eye appeal. Our grade is MS63, tied for CC#3 in the Grellman census. The attribution and Iskra Collection provenance are noted on the PCGS label. 406696.64/81161867

Ex 1992 EAC bourse-J. R. “Bob” Grellman, Jr. Collection 2/1/2012-Fred Iskra Collection, McCawley & Grellman Auctions/Goldbergs 9/4/2016:249-Fred H. Borcherdt Collection (includes the Iskra lot ticket)

LOT 555 1851 N-17 R2+ First 1 Repunched EF45. Five points sharper with a few too many light contact marks on the obverse for the sharpness grade. The notable marks are a light scratch up from the bust, a collection of tiny marks on the jawline, and a few more in the field off the chin. None of these marks is distracting and the eye appeal is nice. Glossy tan with medium chocolate brown on the right sides. M-LDS, die state c early. The narrow rim cuds at stars 1-2 are weak but visible, and all the early die lines are gone including the repunching on the first 1. 

From the Fred H. Borcherdt Collection

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