Fred Borcherdts ANA Sale

FRED H. BORCHERDT'S HALL OF FAME COLLECTION of 1794-1814 CENTS

THURSDAY, AUGUST 27, 2026, at 5 PM

THE David L. Lawrence Convention Center 1000 Fort Duquesne Blvd Pittsburgh, PA

EARLY CENTS AUCTIONS AN ANA featured LIVE AUCTION PARTNER

Lot 7

Lot 15

1793 S-6

AU50

VF30

1793 S-13

Lot 20

Lot 21

1794 S-19b

1794 S-21

XF45

MS62+BN

Lot 32

Lot 35 1794 S-33 VG8

1794 S-30

MS62+BN

Lot 42

Lot 38

1794 S-40

1794 S-36

AU55

AU50

Lot 49

Lot 50

AU53

MS62BN

1794 S-45

1794 S-46

Lot 108

Lot 125

XF45

AU55+

1796 S-94

1796 S-109

EARLY CENTS AUCTIONS www.earlycentsauctions.com | info@earlycentsauctions.com P.O. BOX 41000, Austin, TX 78704 Lucas Baldridge, Texas Auctioneer Lic#18106

EARLY CENTS AUCTIONS Includes the following: Chris McCawley - EAC member #1394 Consignments and Expert Direction Bob Grellman - EAC member #575 Grading, Cataloger

Lyle Engleson - EAC member #6888 Photography, Catalog Design, Support

Lucas Baldridge - EAC member #6162 Auctioneer, Shipping and Support

Travis Hollon - EAC member #6329 Shipping and Support

Lot 76

1794 S-65

MS63BN

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Lot 120

1796 S-105

MS62+BN

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1794-1814 CENTS

Thursday, August 27 th 5:00PM

David L. Lawrence Convention Center 1000 Fort Duquesne Blvd Pittsburgh, PA Will be held at our booth Tuesday, August 25 th through Thursday, August 27 th

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Chris McCawley 405-226-5072 cmccawley@aol.com Lucas Baldridge 972-310-9497 friscomint@live.com

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Thursday, August 27 th 5:00PM

LARGE CENTS

1793 1794 1795 1796 1797 1798 1799 1800 1801 1802 1803 1804 1805 1806 1807 1808 1809 1810 1811 1812 1813 1814

Lots 1-15 Lots 16-84 Lots 85-93 Lots 94-143 Lots 144-179 Lots 180-238 Lots 239-240 Lots 241-271 Lots 272-287 Lots 288-307 Lots 308-331 Lots 332-335 Lots 336-338 Lots 340-345 Lots 346-349 Lots 351-354 Lots 355-357 Lots 358-361 Lots 362-364 Lots 365-367 Lot 339 Lot 350

pg. 6 pg. 22 pg. 96 pg. 106 pg. 171 pg. 218 pg. 307 pg. 310 pg. 359 pg. 386 pg. 409 pg. 433 pg. 436 pg. 438 pg. 440 pg. 447 pg. 451 pg. 451 pg. 456 pg. 460 pg. 464 pg. 465

20% Buyers Premium (if paying by PayPal an additional 4% will be added to hammer)

FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

Fred and Kathy Borcherdt

Fred Borcherdt’s collection is called “The Hall of Fame Collection” for two reasons: first because he is in The Drag Racing Hall of Fame, and second because the coin collection he built is worthy of Large Cents Hall of Fame status.

Fred set drag racing records and won national championships in a highly competitive sport. He earned a sponsorship from the Pontiac Motor Division during the “Muscle Car” era of the 60’s and 70’s because he found ways to improve the performance of their engines and drive trains beyond what the finest Pontiac engineers were able to achieve. As a result he was able to win championships racing Pontiac cars, and that brought added prestige to the Pontiac stable of high performance vehicles. Because of his performance as a car builder and race driver he was enshrined into the Drag Racing Hall of Fame in 1972. Fred’s coin collection also qualifies for a Large Cents Hall of Fame (although none exists today, at least not officially) because he assembled a collection of superior quality and depth. The collection was built quietly and privately over many decades. Many if not most of his coins will be new to the marketplace. They came from private sources and have never been sold at auction, appeared in a dealer’s show case, or been offered on a fixed price list. Some are the finest known of the variety and others are extremely rare die states. But there is something for everyone with lower grade “backup” coins of most varieties in affordable grades. The extent of the collection is astounding. And the overall quality of the first line collection is breathtaking. You can’t look at everything in one day. We have tried—and failed miserably. This auction at the 2026 ANA Convention features Fred’s first-line collection of the cents of 1793 to 1814. There are scores of condition census pieces and several that are Finest Known of the Sheldon die variety. Many are being offered publicly for the first time and others come with long, impressive provenances. But there are some relatively modest pieces in here as well so don’t let the cover coins scare you away. Enjoy.

EARLY CENTS AUCTIONS www. earlycentsauctions .com | info@ earlycentsauctions .com P.O. BOX 41000, Austin, TX 78704 Lucas Baldridge Texas Auctioneer Lic#18106

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EARLY CENTS AUCTIONS

CHOICE 1793 AMERI.

LOT 1 1793 S-1 R4 Chain AMERI. PCGS graded AU55 . Beautiful glossy brown and light chocolate with slightly darker steel brown toning on the highpoints. Smooth with satiny frost in protected areas and great eye appeal. The obverse is essentially flawless except for a small nick low on the neck and a very tiny tick left of the eyebrow; the only defect on the reverse is a minor planchet lamination at IT in UNITED down to the top of the N in ONE (as struck). Sharply struck with very light wear on the devices and nearly perfect centering. Rare M-LDS, Breen state V, with a die crack through the top of TATE. This is the Noyes plate coin for the die state in his 1991 reference on the cents of 1793 to 1814, his photo #26549. Graded EF40 and CC#9 overall in the Noyes census but finest of this rare die state outside of the ANS collection. Our grade is EF40. A premium example of our highly coveted first large cent, about as attractive as you will ever see for a 1793 Chain AMERI. 35432.55/57538471

Ex K. P. Austin-George Ramont-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

7 Photos of all lots can be found at www.earlycentsauctions.com

EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

EXTREMELY RARE TERMINAL 1793 S-1

LOT 2 1793 S-1 R4 Chain AMERI. PCGS VF Detail, Environmental Damage . Nicely detailed but covered with fine granularity under slightly glossy olive brown toning. The highpoints are a lighter shade of brown and are nearly smooth. No verdigris and the only marks are a few very tiny rim ticks over NI in UNITED. The date is not strong but it is complete and easily readable. The legends are complete and clear. Extremely rare Terminal Die State (TDS), Breen state VI, with a bold cud break connecting TAT to the rim. Only 6 examples of the die state are listed in the Noyes census, and only one of those grades above VG10; the VG10 resides in the ANS collection leaving this piece as the finest of the other 4. Noyes photo #25869. Our grade is F15 sharpness net VG8. A prize for the collector of significant early die states. 35432.97/57538472

From the Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

FINEST 1793 SHELDON-2 CHAIN AMERICA

LOT 3 1793 S-2 R4+ Chain AMERICA PCGS graded MS63+ . Lustrous Light to medium brown with slightly darker steel brown toning on the highpoints. Lighter golden tan shows in protected areas on the reverse and satiny mint frost covers the fields and protected areas on both sides. Sharply struck and nearly flawless with great eye appeal. A small spot of lighter reddish brown planchet slag near the rim left of the L is the only notable defect. LDS, Breen state II, with dull die clashmarks on the obverse and a subtle wave through the base of the date and in the field behind the head. Graded MS62 and finest known of the variety as the only mint state example in the Noyes census, his photo #36457. Bland says AU55 and tied for CC#2 in his census, but a photo comparison with his #1 example clearly shows this is the sharper coin with superior color and surfaces. Unfortunately Del Bland, an undisputed luminary in the areas of early large cents and a good friend to this cataloger, is no longer available to take a second look. Our grade is MS60+ . A premium cent is every respect; the undisputed highlight of this remarkable collection. 35435.63+/57536981

Discovered in England-John Dugan-Major Charles Cole (USAF, retired) 8/1969-Dr. Peter G. Anderson-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS



1793 S-3 R3- Chain America G5 . Slightly glossy olive brown and steel with lighter steel brown covering the devices on both sides. Uniform microscopic roughness covers both sides but there is no verdigris. The only mark is a shallow depression in the hair under BE. The date is weak but easily readable and the two-tone appearance accents the devices. Decent for the grade in spite of the imperfect surfaces, and many of the details suggest a slightly higher grade. 

LOT 4

From the Fred H. Borcherdt Collection

LOT 5 1793 S-4 R3 Chain with Periods, PCGS Fine Detail, Cleaned . Slightly sharper but recolored glossy reddish chocolate brown. Looks smooth but a glass reveals microscopic roughness covering the fields and protected areas. No verdigris, only a few trivial contact marks including a minor rim bruise right of the Y in LIBERTY. EDS, Breen state I, with the usual weak strike at the bottom of the obverse that is common in the early die state. The date is not strong but it is complete and easily readable. Everything else is complete and clear. Our grade is net VG10 sharpness net VG8. 35444.92/52084647

From the Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

LOT 6 1793 S-5 R4 Wreath Cent, Large LIBERTY AG3 . Glossy chocolate and steel brown with smooth surfaces but uneven wear thanks to a subtle bend in the planchet. Just minor contact marks including a small rim bruise at the first S in STATES and a dull rim nick at the bottom of the reverse. The date and LIBERTY are clear but the central part of the reverse is worn smooth due to the minor bend. EDS, Breen state I, before any rim crumbling at the top of the obverse.

Ex Denis W. Loring 9/1980-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

BEAUTIFUL 1793 SHELDON-6 “SPRUNG DIE”

LOT 7 1793 S-6 R3 Wreath Cent with Vine & Bars Edge, PCGS graded AU50 . Choice glossy light to medium brown with slightly darker steel brown on the highpoints of the devices. Smooth with great eye appeal and trivial marks including a very light and barely visible rim bruise at K-8 on the obverse and a small rim tick off the end of the bust. The planchet is choice except for a few tiny fissures (as struck), the only notable ones located in the field before the eye and just right of the date. Neither fissure catches your eye. The only mark on the reverse is a tiny fissure on the edge over the second T in STATES. Nicely struck E-MDS, Breen state II, with a subtle horizontal wave in the field behind the portrait, Crosby’s “Sprung Die” variety. Noyes photo #29252. Our grade is VF30. A very nice mid-grade example of the variety. 35450.50/57538473

From the Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS



1793 S-8 Wreath Cent F12+ . Glossy medium chocolate with lighter brown in protected areas, especially on the obverse. Looks smooth to the unaided eye but there is very fine roughness in the fields and protected areas. No verdigris and the only notable mark is a light scrape on the rim left of the lower curls. M-LDS, Breen state III early. The bisecting crack and wave on the reverse is clear. This cent has the eye appeal of a slightly higher grade. 

LOT 8

From the Fred H. Borcherdt Collection

1793 S-9 R2 Wreath Cent VG10 . Toned a very attractive glossy medium brown and light chocolate with no trace of roughness or verdigris. Unfortunately there are 3-4 obvious rim bumps on both sides, the strongest one off the lowest curls. The date and legends are strong, the details consistent with a VF20 grade. Nicely struck EDS, Breen state I, before any die cracks. 

LOT 9

Ex Dean Johnson 6/1976-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

TERMINAL STATE S-9

LOT 10 1793 S-9 R2 Wreath Cent VG7 . Glossy light to medium brown with slightly darker steel brown toning on the devices. The date is complete and clear as are most of the devices, but there is a rough contact mark at AMER and a small but obvious dig just left of the date. Terminal die state, Breen IX, with severe die failure at RICA into the wreath.

Ex “DE” 6/1978-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

1793 S-10 R4 Wreath Cent VG7+ . Glossy brown and light chocolate with some reddish chocolate in protected areas on the reverse. Smooth with minor marks, none notable. M-LDS, Breen state II, with die failure at the dentils before the nose and mouth and significant swelling in the center of the reverse. The date and LIBERTY are clear. 

LOT 11

Ex 1982 EAC Sale, lot 201-Fred H. Borcherdt Collection

1793 S-11a R4+ Wreath Cent with Vine & Bars Edge G6 . Mostly glossy light chocolate brown but there is fine roughness in the fields and protected areas plus more-obvious pitting on the right half of the obverse. No verdigris and the only notable contact marks are a few small rim nicks at BER. EDS, Breen state I, before any die clashmarks. The date is clear as are most of the legends. 

LOT 12

Ex Denis W. Loring 4/1981-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

1793 S-11b R4 Wreath Cent with Lettered Edge, Double Leaf VG8 . Mostly glossy light chocolate brown blending to darker olive brown in protected areas. Looks smooth but there is very fine roughness in the fields and protected areas, especially on the reverse. No verdigris and the only marks are two small digs near the hair left of the eye. LDS, Breen state IV, with die polishing that removed clashmarks but also weakened the profile. The date and legends are easily readable, and the edge lettering is strong including the two leaves following DOLLAR. 

LOT 13

Ex “SF” 1/1983-Fred H. Borcherdt Collection

LOT 14

1793 S-11c R3- Wreath Cent with Lettered Edge and Single Leaf, PCGS graded VF35 . Choice glossy light to medium brown with a very subtle hint of slightly darker brown toning woodgrained into the fields on the obverse. Smooth and nearly perfect with outstanding eye appeal for a moderately worn cent. The only defect is a light, barely visible rim bruise under the 9. MDS, Breen state III, with die clashmarks on both sides. Struck slightly off center to K-2. The edge lettering is strong with a single leaf following DOLLAR. Our grade is F15. 35477.35/57538476

From the Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

BEAUTIFUL 1793 LIBERTY CAP

LOT 15 1793 S-13 R4- Liberty Cap PCGS graded VF30 . Glossy tan and light brown with chocolate brown on the highpoints. Smooth with a flawless planchet and just a couple trivial rim bruises at ED in UNITED. Sharply struck with crisp border beads all the way around both sides in spite of being struck very slightly off-center. MDS, Breen state II, with a subtle wave slanting through the T in CENT. Noyes photo #26752. Our grade is VF25. A very nice example of the 1793 Liberty Cap type, and it comes with a nice provenance as well. 35489.30/57538474

Ex Judge Joseph F. Sawicki, 1964 ANA Sale (Federal Brand Enterprises), 8/19/1964:41 (plated)-J. Kelly-Theodore Kryworuka (hereafter referred to as “Ted Kress,” a more pronounceable version of the name assigned by Del Bland for provenance purposes)-George Ramont 1996-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

1794 S-17a R5- Head and Edge of 1793 VG7 . Slightly glossy dark steel and olive brown with lighter brown on the highpoints. Nicely details but covered with fine to moderate roughness on all but the highpoints, which are smooth. No verdigris or notable marks other that a small scrape on the rim over the M in AMERICA. The date is bold, the legends are clear, and the edge lettering is bold. E-MDS, Breen state II, Heck state 1, with a faint bulge from the L to the head. Struck slightly off center to K-4.5. Graded VG7 by Del Bland. Noyes says VG8 net G6 and tied for CC#21, his photo #62601. In our opinion the sharpness of this cent is far superior to the Noyes assessment of VG8; it would rate a grade of VF20 or better if the surfaces were smooth. Comes with a nice provenance.  Ex Dr. William H. Sheldon-C. Douglas Smith-R. A. Brown 5/23/1958-Darwin B. Palmer, Jr. 12/8/1972-Dr. Robert J. Shalowitz-Ellen Enzler 12/1987-Darwin B. Palmer, Jr.-Joel Spingarn-Chris Taylor-Walter H. Reed-Fred H. Borcherdt Collection

LOT 16

LOT 17

1794 S-18a R6 Head and Edge of 1793 Basal State-1 . Slightly glossy mix of medium brown and chocolate with darker steel and olive brown in protected areas. The highpoints are mostly smooth but the fields and protected areas are uneven and there traces of shallow dark crust in a few protected areas. A shallow planchet fissure from the top of the cap to the rim before the face is the only notable mark. The date is faint but can be made out with some effort, the portrait is reasonably complete, and about 25% of the reverse devices are still visible. Overall rather decent for a Basal State cent. The edge lettering is complete and clear, and the downturned leaf following DOLLAR is strong. 

From the Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

THE NEWCOMB-SHELDON-DOWNING S-18B

LOT 18 1794 S-18b R4 Head of 1793, Edge of 1794 VF30 . A sharp, smooth cent with nice eye appeal and a superior provenance, but it was lightly burnished and retoned. Glossy dark chocolate brown and steel with some slightly lighter brown on both sides. Just a couple trivial marks including a tiny chip in the field off the chin and a barely visible rim bruise below the 9. LDS, Breen state V, Heck state 4, with strong swelling under ED. The H & D in HUNDRED are filled with yellow ink to signify ownership by Homer Downing. Graded EF40 and tied for CC#11 in the Bland census. Noyes says AU50 net VF30 and tied for CC#11, his photo #85122. A sharp, important cent that might deserve a better retoning. Ex Captain Andrew C. Zabriskie, H. Chapman 6/3/1909:734-J. W. Scott & Co., Ltd.-Henry C. Miller, Thomas L. Elder 4/13/1917:655-Howard R. Newcomb, J. C. Morgenthau & Co. 2/7/1945:19 (as AU)-Dr. William H. Sheldon-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1636 (as MS60)-Harold Bareford 9/13/1985-Herman Halpern, Stack’s 3/1987:107 (as AU50)-Taichert, Stack’s 5/9/2001:8 (as XF45)-Chris McCawley McCawley & Grellman Auctions/Superior 2002 ANA Sale, lot 218-American Numismatic Rarities/Stack’s 6/2004:2149-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

THE HINES-DOWNING S-19A

LOT 19 1794 S-19a R5+ Head and Edge of 1793 G4 . Slightly glossy dark olive brown and steel. Considerably sharper than the assigned grade, especially on the reverse thanks to the high, protective rim on that side, but the planchet is covered with moderate roughness. No marks or verdigris. The date is weak but readable and this cent has very little actual wear. EDS, Breen state I, Heck 1. Graded VG7 net AG3 and tied for CC#24 in the Noyes census, his photo #26059. The H & D in HUNDRED are filled with yellow ink to signify ownership by Homer Downing.

Ex Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1633 (as G4)-Denis W. Loring 4/1979-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

ATTRACTIVE S-19B HEAD OF 1793

LOT 20 1794 S-19b R4 Head of 1793, Edge of 1794, PCGS graded XF45 . Glossy tan and steel brown with frost in the fields and protected areas. Lightly worn with smooth surfaces and very nice eye appeal. Just a few trivial marks including a tiny nick in the hair left of the eyebrow and a tiny, barely visible rim bruise at K-8 on the obverse. The reverse is sharper than the obverse, as always on this variety thanks to the high protective rim on that side. What may appear as small rim nicks on the reverse is an illusion caused by the heavily impressed edge letters. MDS, Breen state II, Heck 2, with an obvious bulge in the field under the cap. Graded VF25 and tied for CC#7 in the Bland census. Noyes says VF35 net VF25 and tied for CC#6 (no idea why the deduction), his photo #33041. Our grade is VF25+. Previously housed in an NGC holder graded XF40 (NGC label #508554-001 included, and it shows the attribution and Rasmussen provenance). 35519.45/57538475

Ex Freeman Smith 11/9/1956-John A. Schreuder 4/1970-Del N. Bland 12/1979-Myles Z. Gerson-Bertram Cohen-George E. Ewing, Jr., 1996 EAC Sale, lot 95 (as VF25+)-Wesley A. Rasmussen, Heritage Auctions 1/13/2005:3025 (as NGC XF40)-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

THE FROSSARD-GARRETT S-21

LOT 21 1794 S-21 R3 Head of 1794 PCGS graded MS62+ Brown . Choice frosty light reddish brown with steel brown toning on the highest points of the devices. The surfaces are smooth and satiny with virtually flawless surfaces; just a light touch of friction on the highest points from mint state. A tiny, very light rim nick over the right side of the L in LIBERTY is the best identifying mark, and it is barely visible. MDS, Breen state III, Heck state 3, with a fine die crack from the B to the cap and fine die clashmarks on both sides. Our grade is AU50+, very close to AU55, and it comes with a superb provenance. 35528.62+/57538477 Ex Dr. Edward Maris-Edouard Frossard Collection, Frossard 10/2/1884:853 (as UNC)-T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28//1979:57 (as AU55)-Anthony J. Terranova, Superior 2/1991:662-Dr. Eugene Sherman-Anthony J. Terranova 4/1993-Dr. Thomas Turissini 4/19/1997-Walter J. Husak-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

CONDITION CENSUS SHELDON-22 EX TURISSINI

LOT 22 1794 S-22 R1 Head of 1794 PCGS graded MS61 Brown . Frosty medium reddish brown. The fields and protected areas are lustrous and there is just a light touch of friction on the highest points of the hair. The only defects are a pair of small planchet flakes on the tip of the bust, another tiny one left of the O in OF, and a very light scuff along the tops of BER. A small spot of darker toning (not carbon) under the upright of the L in LIBERTY is a good identifying mark. MDS, Breen state V, with “mounds” forming at the top of the wreath and in the leaves below TE in UNITED. These “mounds” are not strong but the die clashmarks at the C in CENT are quite bold. Graded AU50 and tied for CC#4 in the Bland census. Noyes photo #62744. Our grade is AU50. Comes with a century-old provenance. 901374.61/25545344 Discovered in Europe-Thomas L. Elder 2/2021:1911 ($20)-unknown-1974 ANA Sale (Paramount International Coin Corp.) lot 308 ($700)-Chuck Furjanic Bowers & Ruddy FPL 1975-American Auction Association 12/1975:271-Bowers & Ruddy 10/1976:1487-unknown-Bowers & Merena 3/1984:613 ($3300)-Gene Sanders (Coinko)-unknown-Superior 5/1991:23 ($5500)-Dr. Thomas Turissini-Eric J. Streiner 4/24/1993-Thomas D. Reynolds 10/6/1997 Dr. John D. Wilson, Heritage Auctions 6/2005:5075-unknown-2011 ANA Sale (Stack’s Bowers), lot 7223-unknown-Stack’s Bowers 11/2015:20006-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

OFF-CENTER S-22

LOT 23 1794 S-22 R1 Head of 1794 F12 . Glossy brown and light chocolate with frosty lighter brown in protected areas. Smooth with very nice eye appeal and no notable contact marks; just a few small planchet flakes above NE in ONE. EDS, Breen state I, Heck 1, with no cracks or clashmarks. Struck about 10% off center to K-10.5. A strong indent from the collar post (a pin that held the collar in place) shows on the unstruck portion of the planchet. Off-center strikes that show a collar post indent are extremely rare, and this is a really nice one. Graded F15 net F12 by Noyes, his photo #28952.

From the Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

LOT 24 1794 S-23 R4+ Head of 1794 F12 . Lightly cleaned, now retoned a glossy mix of dark steel brown and chocolate with some lighter brown. The surfaces are smooth and void of marks except for a few small planchet flakes: one at NI, another at the second S in STATES, and one at OF (all as struck). MDS, Breen state III, Heck 3, with a die crack from off the end of the pole to the throat.

From the Fred H. Borcherdt Collection

CHOICE S-24 “APPLE CHEEKS”

LOT 25 1794 S-24 R1 Head of 1794 PCGS graded AU58 . Frosty tan and light steel brown with slightly darker steel brown toning on the highpoints. A small tick under the left corner of the eye and a thin nick along the bottom of the chin are the only notable marks. Mint luster shows in the fields and protected areas and this cent has superb eye appeal for the grade. MDS, Breen state IV, Heck state 6, with very fine rust evident in the field around the date and on the lower part of the neck, plus a radial die crack right of the date and another through the L to the head. Struck slightly off center to K-5 affecting only the dentils. Noyes photo #25817. Our grade is EF45. 35537.58/57538478

Ex A. E. Parker 4/21/1956-John Schreuder-Del N. Bland-Fred H. Borcherdt Collection (includes the Schreuder/Bland collection envelope)

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

BEAUTIFUL S-25 EX FROSSARD-GARRETT

LOT 26 1794 S-25 R3 Head of 1794 PCGS graded AU50 . Nicely detailed but there are some small marks on otherwise smooth surfaces. Most of the tiny marks are planchet chips but there are a few trivial contact marks including a couple light ones on the bust, very tiny ones at TES, and a small carbon spot hidden in the leaves under the T in CENT. Glossy steel brown and chocolate with frosty lighter brown in protected areas. MDS, Breen state III, Heck 2, with die clashmarks on both sides. Called VF25 and tied for CC#9 in the Bland census. Noyes says VF30 net VF25 and tied for CC#7, his photo #26384. Our grade is VF25. Comes with a nice provenance. 35540.50/57538479

Ex Edouard Frossard Collection, Frossard 10/2/1884:87--T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28/1979:60-Tom Morley-Ed Kucia-George E. Ewing, Jr.-Fred H. Borcherdt Collection (includes the Morley collection envelope)

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EARLY CENTS AUCTIONS

LOT 27 1794 S-26 R2 Head of 1794 PCGS graded AU55 . A sharp cent with smooth surfaces and very nice eye appeal, but the raised area around CE has been lightly rubbed leaving slightly lighter toning in that area. Otherwise the toning is an attractive glossy light olive brown and chocolate with lighter reddish steel brown at CE. Sharply detailed with light wear on the devices and no notable marks. LDS, Breen state VIII, Heck state 8, with a very bold radial die crack through the first S in STATES to CE, and the area at CE is raised. Noyes graded EF45 net VF35 and tied for CC#14, his photo #26338. Our grade is EF40. 35543.55/57538480

From the Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

LOT 28 1794 S-27 R5 Head of 1794 VG8 . Mostly glossy dark steel and olive brown with lighter chocolate and steel brown on the highpoints. The obverse was lightly burnished creating a higher than normal gloss on that side, and there are traces of fine roughness and shallow verdigris on the reverse. The notable marks are some small ticks above and below the earlobe and a rim nick at the first A in AMERICA. MDS, Breen state II late, Heck state 2, with a clearly defined wave from the rim to the hair under the cap and a very subtle wave in the field from the chin to the right. The date is bold and the legends are clear.

Ex University of Pennsylvania-Catherine E. Bullowa (Coinhunter)-Walter Breen-Frank H. Masters, Jr., Rare Coin Company of America 5/14/1971:53 (as F12)-Denis W. Loring 4/1979-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

BEAUTIFUL S-28 “ORNATE HEAD”

LOT 29 1794 S-28 R2 Head of 1794 PCGS graded AU58 . Choice frosty light brown with darker steel brown toning on some of the highpoints, mostly on the cheek. Satiny mint luster shows in the fields and protected areas and this cent has great eye appeal. The only mark is a tiny tick high above the N in ONE. Nicely struck MDS, Breen state VI, Heck 5, with faint die cracks on the obverse. Graded EF45 by Noyes, his photo #29008. Our grade is EF45. A choice, very attractive cent. 35549.58/57538481

From the Fred H. Borcherdt Collection

Thursday, August 27 th , 2026 5PM EST

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

LOT 30 1794 S-29 R2 Head of 1794 PCGS graded AU58 . Frosty medium brown and light chocolate with slightly darker steel brown on the highpoints. Lightly worn and choice except for some microscopic hairlines on the obverse and a barely visible speck of carbon on the neck. Otherwise quite nice and the eye appeal is outstanding. EDS, Breen state I, Heck state 3, before any trace of a die crack at the R in AMERICA. The fields on the reverse are smooth and slightly reflective thanks to the new die used for this variety. Graded EF40 by Bland. Noyes says 45 net 35, his photo #39040. Our grade is EF40 . Comes with a an old, complicated provenance. 35552.58/57538482 Ex Robert Colton Davis, New York Coin & Stamp Co. 1/20/1890:2525-Charles Steigerwalt-unknown (possibly Henry C. Hines)-Dr. William H. Sheldon-ANS -transferred to R. E. “Ted” Naftzger, Jr. 1/26/2001 per the agreement to unwind the unauthorized transfer of the Clapp/ANS cent to the Sheldon Collection (via William C. Noyes)-Fred H. Borcherdt Collection

OFF-CENTER S-29

LOT 31 1794 S-29 R2 Head of 1794 VF30 . Choice glossy light to medium brown with frost in some of the protected areas. Smooth and very attractive with just a few trivial marks including a thin nick left of the lower curls, a very light rim bruise left of the L, and some planchet chips on the unstruck portion of the planchet outside UNITED. MDS, Breen state II late, Heck 2, with a light die crack from the rim to the center of the R in AMERICA. Struck about 5% off center to K-3.5. Graded VF25 and tied for CC#22 in the Noyes census, his photo #28949.

Ex Stack’s (privately)-Fred H. Borcherdt Collection (includes the Stack’s sales envelope)

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

MORLEY PLATE COIN EX NAFTZGER

LOT 32 1794 S-30 R1 Head of 1794 PCGS graded MS62+ Brown . Choice lustrous light brown with slightly darker steel brown toning on the highest points of the devices. The reverse looks mint state and is free of rub or wear thanks to the relatively high rim on that side, but the highest points of the hair do show light friction. No spots or stains, and the only contact mark is a very light nick high on the neck. The fields are satiny and this cent has superb eye appeal. M-LDS, Breen state II, Heck state 4, with fine die cracks and die clashmarks on both sides. Graded AU55 and tied for CC#5 in the Bland census. Noyes says AU50 and tied for CC#5, his photo #26539. Our grade is AU55. The obverse of this cent is plated in the 1979 grading reference by Tom Morley to illustrate the AU55 grade for the variety (page 11). A choice, very attractive cent that comes with a nice provenance. 35555.62+/57538483

Ex Charles M. Williams, Numismatic Gallery 11/14/1950:31-Numismatic Gallery 10/12/1951-R. E. “Ted” Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:353-Charles E. Harrison-Myles Z. Gerson-Del N. Bland-George E. Ewing, Jr.-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

1794 S-31 R1 Head of 1794 PCGS graded MS62 Brown . Glossy light olive with frost in the fields and protected areas. A very attractive cent, essentially flawless with very light wear on the devices. A microscopic tick right of the earlobe is the only notable mark, and it is microscopic. MDS, Breen state II, Heck state 2 late. Both of the die “chips” in the field under the cap are clear and there is clear evidence of die failure under MER. Noyes graded EF40, his photo #60015. Our grade is EF45 . 35558.62/57538484

LOT 33

Ex Douglas F. Bird-Fred H. Borcherdt Collection

1794 S-32 R2 Head of 1794 VF35+ . Frosty light to medium steel brown with a few small peeps of lighter brown and tan in protected areas. Lightly worn on the highpoints with just a few small nicks on the neck and the usual planchet chips in the field before the portrait and the opposing area at OF-AM. The rest of the planchet is smooth. This variety was struck from dies that were not in proper axial alignment (the die faces were not parallel). Even the finest known examples of the variety show planchet chips to some degree in those areas. Why the coiners failed to correct the problem during the production run will remain a mystery. LDS, Breen state V, with a cud break over LI, bold radial die crack through the first S in STATES, and strong die clashmarks on the reverse. Graded VF35 and tied for CC#9 honors in both the Bland and Noyes census lists, Noyes photo #36290. Removed from a PCGS holder graded XF45 (PCGS label #35561.45/81232291 included, and it shows the attribution and Schuman-Robinson-Boka provenance). Comes with a very nice provenance.  Discovered in England-Frederick G. “Fritz” Weber-C. Douglas Smith-Del Bland 11/1973-Dr. Robert A. Schuman 3/1976-Denis W. Loring 5/7/1983-Jack H. Robinson, Superior 1/29/1989:53-Daniel W. Holmes, Jr.-Jon A. “Al” Boka, Heritage Auctions 9/8/2011:531-Fred H. Borcherdt Collection

LOT 34

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

LATE STATE “WHEELSPOKE”

LOT 35 1794 S-33 R6 Head of 1794, “Wheelspoke” Variety VG8 . A sharp cent with reasonably smooth highpoints, but the fields and protected areas are covered with fine to moderate roughness. No verdigris and the only notable contact mark is a very tiny rim nick under the fraction. Slightly glossy medium olive brown with lighter brown toning on the devices. The date and legends are complete and easily readable, even ONE CENT (which usually is partial or missing due to swelling in the center of the reverse). LDS, Breen state V, Heck 5, with 6 “Wheelspoke” cracks on the reverse. Graded VF20 net VG7 and tied for CC#7 in the Noyes census, his photo #26538. Not perfect but still a great example of this tough and very popular die variety.

Acquired from an unrecorded source by Fred H. Borcherdt in 3/1984

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

CONDITION CENSUS S-34 EX NAFTZGER-ADAMS

LOT 36 1794 S-34 R5+ Head of 1794 VF25 . Partly glossy dark olive brown and steel. A sharp cent with very light wear on the devices, but the planchet is covered with fine granularity. No verdigris or marks except for a microscopic chip near the rim before the mouth. M-LDS, Breen state III late, Heck state 4, with a raised retained cud break at the top of the cap in addition to the earlier rim cud at the L. Graded VF35 net VF25 and CC#3 in the Bland census. Noyes says VF30 net VF20 and CC#4, his photo #26429. A great cent in spite of the imperfect surfaces, and it comes with a nice provenance. Ex Coins & Currency 4/1969:1759-Catherine E. Bullowa (Coinhunter)-Abner Kreisberg Corp.-R. E. “Ted” Naftzger, Jr., New Netherlands Coin Co. 11/14/1973:356-John W. Adams 6/1975-Denis W. Loring 5/7/1983-Jack H. Robinson-Del Bland 3/5/1985-Fred H. Borcherdt Collection (includes the Naftzger collection envelope and New Netherlands lot ticket)

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EARLY CENTS AUCTIONS

LOT 37 1794 S-35 R5 Head of 1794 VG8+ . Glossy light olive and brown blending to chocolate in protected areas. Smooth and very nice for the grade with trivial marks and great eye appeal. The only notable marks are a dull rim nick off the chin and a light rim bruise at the O in OF. MDS, Breen state V, Heck 4, with a strong die crack from the head to ER that raised the R so it wore more quickly. Noyes graded F12 net VG10 and tied for CC#13, his photo #26212. An attractive lower grade example of this tough die variety. 35570.97/57538512

Ex Hance Jaquett 2/1979-Fred H. Borcherdt-Denis W. Loring 12/1981-Fred H. Borcherdt Collection (includes the Loring collection envelope)

CHOICE S-36 FROM ENGLAND

LOT 38 1794 S-36 R5 Head of 1794 PCGS graded AU55 . Very attractive glossy medium brown and light olive. The surfaces are perfectly smooth and traces of mint frost show in protected areas on the reverse. Just a few unobtrusive marks including a nick on the end of the chin and two very light rim bruises on the reverse: one right of the F in OF and another at ME in AMERICA. None of these marks is significant and the eye appeal of this cent is superb. M-LDS, Breen state II, Heck state 1. Our grade is VF30+ , close to VF35. A great example of this rare die variety. 35573.55/57538485

Discovered in England-Tom Hart-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

GILBERT, NOYES, & MORLEY S-38 PLATE COIN

LOT 39 1794 S-38 R5 Head of 1794 PCGS graded XF40 . A nicely detailed cent with smooth surfaces and excellent eye appeal, but there are some marks. The notable ones are several small nicks on the face into the hair and cap, a collection of small digs below CE in CENT, and some marks or planchet voids on the edge at the bust tip and opposing edge over the O in OF. The edge marks are called “a tiny planchet clip” by Bland, and that may be correct, but they are a distraction nonetheless. Not a hint of roughness, and the color is a very attractive glossy chocolate brown and steel with lighter brown in protected areas, especially on the reverse. LDS, Breen state II, Heck 2. Both of the “chips” in the field below the cap are strong. Graded VF20 and tied for CC#6 in the Bland census. Noyes says VF30 net VF20 and tied for CC#5, his photo #26434. Our grade is net VF20. The reverse is plated in the Elder-Gilbert reference, the obverse is plated in the 1991 Noyes reference, and the obverse is plated to represent the VF20 grade on page 17 in the 1979 Tom Morley reference on grading 1794 cents. In addition the “H” and “D” in HUNDRED are filled with yellow ink to document ownership by Homer Downing. An important cent in spite of the marks, and it comes with a very nice provenance. 35579.40/57538486 Ex Ebenezer Gilbert, Thomas L. Elder 10/12/1910:41-Henry Olson Granberg, William H. Woodin (The United States Coin Co.) 5/19/1915:126-Henry C. Hines-Homer K. Downing, 1952 ANA Sale (New Netherlands Coin Co.), lot 1684 (as XF40)-Harold Bareford 9/13/1985-Herman Halpern, Stack’s 3/16/1988:50 (as VF25)-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

1794 S-39 R6 Head of 1794 G6 . Glossy chocolate brown and steel. Smooth with trivial marks, just worn. A light nick on the 9 and a tiny pinprick at the leaf tip right of the E in ONE are the only notable defects. EDS, Breen state I, Heck 1, with an uncracked reverse. Graded G6 and tied for CC#13 in the Noyes census, his photo #26141.  Ex R. S. “Robbie” Brown, Jr.-Denis W. Loring 8/1978-Fred H. Borcherdt Collection

LOT 40

POSSIBLY UNIQUE TERMINAL DIE STATE

LOT 41 1794 S-39 R6 Head of 1794 PCGS graded F12 . Glossy medium olive brown and steel. The surfaces are smooth except for a few minor planchet chips on both sides, and there are only a few contact marks. The notable marks are a sharp vertical nick between the B & E in LIBERTY and a thin diagonal nick on the jaw above the throat. Possibly unique terminal die state, Breen state III late, with a very strong die crack arcing from the rim under the 1 in the denominator to the rim between the I & T in UNITED. The section of die outlined by the crack has started to shift outward, and the dentils between the U and fraction are clearly shorter as a result. In addition the dies have become out of proper axial alignment (the die faces are no longer parallel) causing the bottom of the obverse and opposing top of the reverse to be weakly struck while everything else is normal. As a result the details on the upper half of the obverse and lower half of the reverse are significantly better than the overall grade. This piece is plated in the Noyes reference to illustrate the terminal die state. Graded VG10 net VG7 and tied for CC#10 for the variety in the Noyes census, his photo #27862. Bland says VG7 as well and tied for CC#11. Our grade is VG8. This is the finest of the die state in both census lists, and to the best of our knowledge this is the only example known with this very strong die crack. A wonderful cent for the collector of die states. And it comes with a nice provenance. The attribution and Trollan Collection provenance are noted on the PCGS label. 35582.12/36048764 Ex Hollinbeck Kagin Coin Co., 10/11/1966-Herbert A. Silberman 11/1977-Chuck Furjanic-William R. T. Smith 12/18/1977-Dr. Thomas S. Chalkley, Superior 1/28/1990:197-J. R. Frankenfield, McCawley & Grellman Auctions/Superior 2/17/2001:235-W. M. “Jack” Wadlington-Chris McCawley 4/2004 Dan Trollan Collection, Goldbergs 1/27/2019:143-Fred H. Borcherdt Collection

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

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EARLY CENTS AUCTIONS

Thursday, August 27 th , 2026 5PM EST

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

DOUBLE STRUCK S-40 EX HINES-WURTZBACH

LOT 42 1794 S-40 R5+ Head of 1794 PCGS graded AU50 . A nicely detailed cent with smooth surfaces and excellent eye appeal, but there is a dull scratch hidden in the ends of the top four hair curls and a minor rim bruise left of the lowest curls. Otherwise just trivial marks under glossy chocolate and light olive brown toning. This cent was struck twice and there is clear evidence of the first strike on both sides. The cap from the initial impression shows in the field off the chin and the outline of the top of the head is visible from the bottom of the neck to the truncation above the 9. Evidence of the first strike is visible on the right side of the wreath, especially in the leaves under the f, under the T in CENT, and below RICA. The second strike was rotated about 180 degrees CCW relative to the first. E-MDS, Breen state II, Heck 3, before any die cracks. The diagonal die line through the left side of the C in CENT is clear. A very nice cent in spite of the few marks, and the double strike is a bonus. Called VF25 and CC#7 in the Bland census. Noyes says VF25 net F15 and tied for CC#7. Our grade is VF25 net F15+ , close to VF20. Comes with an impressive provenance that includes some experts who apparently did not notice the double strike. But Fred did. 35585.50/57538487

Ex Henry C. Miller, Thomas L. Elder 4/13/1917:691-Henry C. Hines-Carl Wurtzbach, Barney Bluestone 2/28/1948:433-Willard C. Blaisdell 2/1975-Denis W. Loring 9/1982-Del N. Bland 3/5/1985-Fred H. Borcherdt Collection

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EARLY CENTS AUCTIONS

THE GARRETT S-41

LOT 43 1794 S-41 R3 Head of 1794 VF30 . Choice glossy medium brown. Smooth with light wear, minor marks, and great eye appeal. A thin nick hidden in the hair bellow the E and a couple more on the cheek are the only contact marks. M-LDS, Breen state VI, Heck state 7, with die cracks on the reverse. Graded VF30 and tied for CC#6 in the Bland census. Noyes says VF35 net VF25 and tied for CC#9, his photo #33128.

Ex Dr. George W. Massamore 3/1883:538-T. Harrison Garrett-Robert Garrett 1919-John Work Garrett-Johns Hopkins University, Bowers & Ruddy 11/28/1979:64-Tom Morley-Ed Kucia-George E. Ewing, Jr.-Fred H. Borcherdt Collection (includes the Ewing collection envelope)

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FRED BORCHERDT’S HALL OF FAME COLLECTION 1793-1814 CENTS

1794 S-42 R4 Head of 1794 F15+ . Glossy olive brown and chocolate with lighter steel brown toning on the highpoints. A sharp, attractive cent, but there are three defects that detract from an otherwise very nice piece. Those defects are an obvious scratch on the lower part of the neck, another less obvious one in the field at the throat, and a small patch of corrosion at CA in AMERICA. LDS, Breen state II, Heck state 3, with die clashmarks. Graded VF30 net F15 and tied for CC#15 in the Noyes census, his photo #26063. 

LOT 44

Ex Denis W. Loring 4/1979-Fred H. Borcherdt Collection

1794 S-43 R2 Head of 1794 VF20 . Glossy light brown blending to medium brown in protected areas. The details are sharper but there are too many small nicks on the obverse for the higher grade. A light rim bruise at the end of the pole is a good identifying mark. EDS, Breen state I, Heck 1, with uncracked dies. A rare die state in our opinion. Struck with the reverse rotated 30 degrees clockwise relative to the normal head-to-foot die orientation. 

LOT 45

Ex Denis W. Loring 1978-Fred H. Borcherdt Collection

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