Market Analysis: 1786 New Jersey copper

A Maris 24-P 1786 New Jersey copper graded MS-64+ brown by PCGS is the finest-known of the variety and sold for $36,000 on Aug. 15.

Image courtesy of Stack's Bowers.

Stack’s Bowers Galleries’ catalog introduction wrote, “The Platt Family Collection reflects the numismatic bent and political influence of Senator Platt whose personal interest in the hobby was supplemented by gifts from his many friends.”

A particular delicacy in the collection was a 1786 New Jersey copper issue, of the Maris 24-P Curved Plow Beam, Narrow Shield variety, graded Mint State 64+ brown by Professional Coin Grading Service that sold for $36,000 Aug. 15.

It is the finest known example of the variety listed in Edward Maris’ book A Historical Sketch of the Coins of New Jersey, that was updated in the 2013 American Numismatic Society and Colonial Coin Collectors Club’s book New Jersey State Coppers.

Stack’s Bowers wrote, “Beautifully toned in warm rose-brown, even casual inspection will reveal traces of faded mint red color within the horse’s mane and engaging some of the peripheral letters on both sides,” and bidders responded favorably to its freshness.

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