US Coins

Market Analysis: 1786 ‘Shaggy Mane’ New Jersey copper

Expressive engraving of the horse’s hair is a hallmark of this 1786 New Jersey Copper, No Coulter, Shaggy Mane, Maris 12-G piece graded Very Fine 25 that sold for $4,560 at the online session.

Images courtesy of Stack's Bowers Galleries.

Early American issues collected as “Colonial Issues” often have charming names attached to them, like this 1786 New Jersey Copper featuring a “Shaggy Mane,” offered in Stack’s Bowers Galleries’ April 11 online sale of items from the collection of Sydney F. Martin.

Graded Very Fine 25 by Professional Coin Grading Service and listed as Maris 12-G in the reference, it represents a “No Coulter” variety, a coulter being a vertical cutting blade fixed in front of the plowshare on the obverse.

The hair on the horse’s mane is expressive, and the variety is well-regarded for its obverse high relief. Stack’s Bowers praises its “lovely light golden-brown color,” observing that “several light marks and scratches are scattered across each side but none are individually egregious enough to preclude a numerical grade,” while recognizing, “Besides these marks, the planchet is hard and glossy with no trace of roughness.”

The scarce type sold for $4,560 on April 11 at the firm’s Collector’s Choice Online Auction.

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