US Coins

Market Analysis: Auction offers Fugio coppers collection

Stack’s Bowers Galleries offered the Pierre Fricke Collection of Fugio Coppers on Nov. 22, which the auctioneer said represented the first-ever offering of 50 or more different varieties in a single auction.

Leading bidding was a 1787 Fugio copper, of the Pointed Rays, STATES UNITED, 1/Horizontal 1 variety listed as Newman 10-T in Eric P. Newman’s book The United States Fugio Copper Coins of 1787.

The word “fugio” means “Time Flies” and a sundial reinforces the concept. 

Graded About Uncirculated 55 by Professional Coin Grading Service, it is among the finest-known of the distinct “Red Book” variety. The offered Fugio copper was previously graded Extremely Fine 45 by PCGS. Stack’s Bowers calls the new grade “more befitting of the coin,” pointing out its attractive olive-brown fields and golden-brown devices. The handsome piece brought $26,400.

Some varieties of Fugio coppers have cinquefoils — five-leafed ornaments — punctuating the obverse, and varieties also distinguish between pointed rays and club rays.

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