1798 Draped Bust Large Cent PCGS AU58 CAC S-184 Ex. Naftzger-Reynolds
Frosty chocolate brown and olive brown surfaces are accentuated by a remarkable preservation of surfaces. With only a trace of rub on the high points, this lovely Early Copper is delightfully handsome and has no unsightly corrosion that often plagues the type. This coin's provenance includes multiple titans in the world of large cents: Denis Loring, Ted Naftzger, Herman Halpern, and Tom Reynolds. An assuredly premium Draped Bust Large cent with CAC approval, the quality of this piece is confirmed by its inclusion in several of the best early copper collections ever assembled.
S-184 is attributed to a die defect at the left corner of the 7 in the date which is diagnostic, plus a small dot defect just to the right of the neck. This is an R.2.
This exact coin sold at GC for $10,125 in 12/22, which was just before these PQ early cents began skyrocketing in price. For other 1798 Draped Bust Large Cents in AU58 with CAC approval with a storied pedigree, we have a HA comp in 1/24 from the legendary Walter J. Husak collection where a 1798 S-175, R.3 sold for $11,400. As well, there was another 1798 at David Lawrence in 2/22 graded AU58+ CAC with active verdigris that sold for $11,000.
Ex Denis Loring-R. E. Naftzger, Jr.-Herman Halpern, Stack's 3/16/1988:167-R. E. Naftzger, Jr., 1990 EAC Sale, lot 48
PCGS Price Guide - $10,050
CAC Price Guide - $9,000
PCGS Population - 2/4 (For the S-184 variety)
CAC Population - 1/1