1787 NY 1/2P Excelsior, Eagle Left XF40BN PCGS
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1787 New York Excelsior Copper, Eagle on Globe Left, XF40 PCGS. W-5785, R.6. 132.7 grains. Although the Articles of Confederation, the precursor to the U.S. Constitution, authorized the individual states to produce their own coinage, New York chose against a coinage issue. However, a few private operators, such as Machin's Mills near Newburgh, New York, and John Bailey and Ephraim Brasher, in New York City, produced private coinage. The latter is best known for the famous Brasher Doubloon. Other issues attributed to Bailey and Brasher are the plentiful Nova Eborac coins and these seldom encountered Excelsior coppers. This variety with the eagle on the globe facing to the left is the most plentiful of the Excelsior issues, though it is still a rarity, being rated R.6. Moreover, the current coin stands apart as exceptional in eye appeal and planchet quality -- two characteristics that are wholly uncommon on the Excelsior copper. Over the years since we began our Permanent Auction Archives in 1993, we have offered an example on 28 occasions, and among those are just nine numerically finer appearances representing five individual examples. Offering exceptional eye appeal, this olive-brown example has smooth surfaces that lack the small marks dark porosity typical of most other surviving examples. Light wear is consistent with the grade assigned to this example that has better detail than some others of a higher grade. A superior example is hard to imagine. HID06601242017 www.HA.com/TexasAuctioneerLicenseNotice
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