Price: 7,500.00 - SOLD - 5/15/2012* Free Shipping and Insurance for coins at $10K or above.
J-130 1851 1 Cent Pattern - J130 1851 1C Pattern Restrike NGC PF65 RB, R-7+. This extremely rare undated, 1851 Copper Cent Pattern has lots of mint red color despite its RB designation. It is fresh to the market and comes with the provenance of the Rarcoa auction of 1988. This 1851 Copper Cent Pattern coin is lustrous with mainly red fields and some light tan on the devices. While some weakness is seen at the bottom of the obverse and the top of the reverse, overall the 1851 Copper Cent Pattern piece is well struck.
The obverse shows the word CENT above at the rim and ONE TENTH SILVER to the sides and below. There is a raised rim at the center within which is a perforation that has not been removed. The reverse shows an open wreath with a ribbon below. Enclosed within the wreath is the area to be perforated. The legend UNITED STATES OF AMERICA is at the periphery.
This pattern is part of a series of extensive designs to replace the copper large cent with a small-diameter coin. The mint felt that a smaller, lighter piece would be less costly to produce and would increase profits. In 1850, ring-form also called annular patterns were struck. All original patterns were struck in billion. Different metals were used to make restrikes including copper such as the present piece, and various alloys including billion.
James B. Longacre designed the pattern. He was appointed as Mint Engraver in 1844 through the influence of Senator John C. Calhoun of South Carolina. After overcoming opposition by the Chief Coiner, Franklin Peale, who was fearful that the new Engraver would interfere with his illegal medal manufacturing business using the Mint facilities, Longacre did well. He was responsible for creating many new designs including the Indian Head cent, the two cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three dollar gold piece, and the Liberty Head double eagle.
The J-130 pattern cent has a high R7 rating in the rarity scale, which indicates that 7 to 12 pieces are known. In its population report, NGC shows 2 1851 1 cent patterns in PF65 RB with 1 better. At PCGS there is 1 in PF65 RB with none better.
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