US Coins

Rare Proof 1842 Coronet cents sells: Market Analysis

On March 30 as part of the Whitman Coin and Collectibles Expo, Stack’s Bowers Galleries offered Part II of the Twin Leaf Collection of Middle and Late Date Large Cents. The collection was assembled over two decades by a devoted collector and while the finest examples were sold in July 2015, the recent offering showcased duplicates, although, as the catalog noted, “It was a challenge to pick the best coin [for the 2015 auction] since quality was always a guiding light in the assemblage of this collection.” As such, the 2016 offering was noteworthy in its own right.

The Coin:

1842 Coronet cent, Newcomb 1, Proof 64 brown

The Price:


The Story:

Late Date Coronet cents from 1840 to 1857 are sometimes called the Braided Hair type. Proofs of this era are rare as they pre-date the broad sale of Proof sets to collectors. This Small Date example, graded Proof 64 by Professional Coin Grading Service, is of the Newcomb 1 variety, and the catalog notes that it was discovered in England decades ago.

COIN VALUES: What is your 1842 Coronet cent worth?

Researcher Walter Breen considered several more 1842 Braided Hair, Large Date cents as Proofs, but as the lot description notes, “Those have since been discredited as coins struck from later state lapped dies that have fresh-looking proof-like fields.”

The present Proof example is one of perhaps 10 known today and is described as “Incredibly rich dark chocolate brown on both sides with strong mirrors in the fields.” The handsome Proof sold for $5,405.

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