Market Analysis: Fugio cent is solid for the type

Market Analysis: Fugio cent is solid for the type

By Steve Roach , Coin World, Published: Jan 13, 2022, 8 AM

While some collectors covet rare varieties, others are content to acquire a single example for type purposes.

The featured Pointed Rays, STATES UNITED, 4 Cinquefoils Newman 17-S variety of 1787 Fugio copper, graded Extremely Fine 45 by Professional Coin Grading Service, would fit the bill. It sold for $2,280 in Stack’s Bowers Galleries’ Nov. 22 auction of the Pierre Fricke Collection of Fugio Coppers.

Records show that 11,910 pounds of Fugio coppers were struck, and the “Guide Book” estimates that translates to 554,741 pieces, minted in 1788 and back-dated to 1787.

The auctioneer described the offered example as “very attractive dark chocolate-brown with light brown devices.” The firm added, “Abundant detail is present on both sides, seemingly better than the grade assigned. The sundial is particularly bold, the legends are complete, and the centering is absolutely perfect.”

A bit of shallow obverse verdigris is seen — as is so often observed on these copper coins that are now entering their third century of existence — and it is unusually well-produced, especially in the context of the often crude Fugio issues.

 The original article can be found at  https://www.coinworld.com/news/us-coins/market-analysis-fugio-cent-is-solid-for-the-type