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Images courtesy of Heritage
Numismatic Auctions
Varieties:
1888/7
Recent appearances:
NGC Proof 65, Red and Brown.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s
"Benson Collection, Part I", February 16, 18-20, 2001, Lot 1290, not
illustrated, sold for $414.00
PCGS graded Proof 64 Red.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection,
Part I", February 16, 18-20, 2001, lot 1132, illustrated, where it was
described as follows: "…A beautiful coin for the grade, in fact, aside
from a few minute flyspecks this is coin could qualify for a higher grade.
The coin has moderate mirrors with exceptional eye appeal.
The mintage indicates that this is one of the more common dates in the
proof Indian Cent series. However experience and the PCGS population
reports show that this is a moderately scarce date over all, and an
exceptionally scarce date in full red. Only 10 examples are graded PR64RD,
with 4 PR65RD's and 4 in PR66RD. Like the 1887, this date commands a large
premium equal in gem full red.", sold for $2,875.00
NGC Proof-64 Brown. Ex - Ira & Larry Goldberg Coin & Collectibles' "The
Fairchild Family Trust Collection Sale", May 28-30, 2001, Lot 250, not
illustrated, sold for $218.00
Proof-63 Red and Brown. Ex
- Heritage Numismatic Auctions, Inc.'s "Santa Clara Signature Sale",
November 16-17, 2000, Lot 5119, not illustrated, sold for $92.00
Very Choice Brilliant
Proof. Ex- Stack's "The September Sale", September 12-13, 2000, Lot 153,
sold for $276.00
Choice Brilliant Proof. Ex
- Stack's "65th Anniversary Sale", October 17-19, 2000, Lot 152, not
plated, sold for $212.75
Brilliant Proof. Ex-
Stack's "The September Sale", September 12-13, 2000, Lot 154, sold for
$138.00
NGC MS-65, Brown.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s
"Benson Collection, Part I", February 16, 18-20, 2001, Lot 1291, not
illustrated, sold for $345.00
PCGS MS-64, Red.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s
"Benson Collection, Part I", February 16, 18-20, 2001, Lot 1292, not
illustrated, sold for $2,300.00
PCGS MS-64 Red. Ex - Heritage Numismatic
Auctions, Inc.'s "Long Beach Signature Sale", May 31-June 2, 2001, Lot
7581, not illustrated, sold for $322.00
MS-64 Red and Brown. Ex -
Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale",
August 6-7, 2000, Lot 5433, not plated, sold for $230.00
NGC graded MS-64 Brown. Ex
- Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection,
Part I", February 16, 18-20, 2001, lot 1133, illustrated, where it was
described as follows: "Snow-2, FND-002; FS-010.7…This is the finest known
example. Only 22 examples are reported with just four examples known in MS
grades. A well struck example with hardly any surface impairments. A few
field depressions are visible but these are caused by machine oil on the
planchet during the striking process. These are not distracting and do not
serve to limit the grade. There are no design deficiencies.
This new variety was discovered in the early 1990's by noted numismatist
Bill Fivaz. Because the Snow-1 1888/7 is virtually unobtainable, this
variety has become a sort of hole filler for that space in collector's
albums. In addition to the overdate feature, the base of a 1 digit is
visible sticking out of the first pearl of the necklace. The overdate
feature is somewhat controversial. It was confirmed by many numismatists
at the time of ti's discovery by using overlays which seemed to prove the
overdate status of the variety. However, in the June 2000 issue of
"Longacre's Ledger", Dr. Tim Larson challenged the overdate status,
claiming that it could be an 1888/888. The jury is still out. Listed in
the Cherrypicker's Guide at $7,500 for MS-63.", sold for $1,552.00
NGC MS-63 Red and Brown. Ex - Bowers & Merena Galleries' "The Lake Geneva
Sale", June 28-29, 2001, Lot 165, "1888/7, Snow-2, FS-010.7", illustrated,
not sold
ANACS MS-63 RB.
Ex
– American Numismatic Rarities, LLC’s “The Classics Sale,”
July 25, 2003
, Lot 226, "1888/7
Overdate, the "Fivaz" variety, Snow-2, FND-002, FSI-010.7,
Rarity-7", illustrated, sold for $5,002.50
MS-62 Red and Brown
Questionable Color. Ex- Heritage Numismatic Auctions, Inc.'s "October
2000 Long Beach Sale", October 5-7, 2000, Lot 6665, not illustrated, not
sold
MS-60 Brown Cleaned. Ex -
Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale",
August 6-7, 2000, Lot 5434, "Snow-2 Rarity", plated, sold for $586.50
PCGS graded AU-58. Ex - Ira
& Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part I",
February 16, 18-20, 2001, lot 1131, illustrated, where it was described as
follows: "8 over 7. Snow-1…This is a very memorable coin which has never
been auctioned. This is the 6th finest known of 23 known examples. This is
the absolute finest circulated specimen. The original prooflike surfaces
are essentially unimpaired. The coin has no major marks. There is only the
faintest rub on the highest points and some minor hairlines in the field.
Nearly all known examples have a die "cud" on the rim at the 9:00
position. Perhaps the die failed very early in its life, accounting for
the extreme rarity of this coin.
Jim Ruddy, partner in the firm of Bowers and Ruddy, first discovered this
variety in 1970. Two uncirculated examples were found together in a
Virginia estate. The two coins were apparently together since their
mintage. A value of just under $5,000 was placed on the variety at the
time. Since then, collectors have searched in vain for additional
specimens. Only 23 examples have turned up since. A brief listing of the
known specimens with some comments may help shed some light on how rare
this coin really is.
1). Reportedly a gem full red example exists. It was sold for $43,000 in
1991.
2). The finest certified example is the MS-64RB PCGS example. This coin is
a beautiful prooflike piece with perfect surfaces, except for a bold
contact mark on the cheek. It last sold privately for $60,000. This coin
traces it's pedigree to Superior's "Juan X Suros" Sale where it was graded
MS-63 RB by PCGS (and still accounted for in their Population Report) and
described as being one of the Ruddy discovery coins, a claim which is
false. Earlier it was sold by Eagle Eye Rare Coins privately for $22,500.
3). A MS-64BN coin is graded by NGC. This coin was discovered a few years
ago in the inventory of the New York numismatic firm of Stack's, and
subsequently sold in their October 1997 sale for $33,000. It was later
graded by NGC as MS-64 BN. The coin has a small "X" scratch above the
first three feathers. It was offered in Superior's February 2000 Pre Long
Beach Sale where it was described as being one of the original Ruddy
discovery coins, a claim which is false.
4 & 5). The two Ruddy discovery coins do not seem to have been on the
market in the past 10 years. These have been described as being MS-60. One
was bought by Robert Marks and was seen in no less than four auction
appearances between 1972 and 1974 garnering winning bids between $1,500
and $4,000. Perhaps the ANACS graded MS-61RB is one of these coins.
6). The present example. AU-58 PCGS. This coin was sold by the Boston
numismatic firm J.J. Teaparty in the early 1980's. It surfaced again in
1998 and was graded and placed into the "Margene Heathgate" collection by
Eagle Eye Rare Coins.
7). ANACS graded AU-55 cleaned, net graded from MS-60. Sold on the
internet auction eBay, December 11, 2000 by Eagle Eye Rare Coins for
$10,000.
8). XF-40
9 - 14). Five examples are known in Very Fine including 2 corroded
examples.
15). One example is graded Fine.
16-23). Eight examples are known in Very Good or lower grades. One PCGS
graded example is misattributed.", sold for $18,400.00
PCGS VF-20.
Ex
– American Numismatic Rarities, LLC’s “The Classics Sale,”
July 25, 2003
, Lot
225, "1888/7 Overdate, the "Ruddy" variety, Snow-1,
FND-001, FS1-010, Breen-2012, Rarity-6", illustrated, sold for
$5,290.00
ANACS VG-8. Ex - Bowers &
Merena Galleries' "The Cabinet of Lucien M. LaRiviere, Part II", March
15-17, 2001, Lot 1223, "Overdate", unsold
ANACS VG-8. Ex - Bowers & Merena Galleries' "The Lake Geneva Sale", June
28-29, 2001, Lot 162, "1888/7, Snow-1", illustrated, sold for $977.50
PCGS Good-6.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection,
Part I", February 16, 18-20, 2001, Lot 1289, "8 over 7", illustrated, sold
for $977.00 One of the rarest overdates in United States numismatics -
discovered by James F. Ruddy around 1970"
ANACS Good-6. Ex - Bowers & Merena
Galleries' "The Lake Geneva Sale", June 28-29, 2001, Lot 163, "1888/7",
illustrated, sold for $632.50
ANACS Good-4. Ex - Heritage Numismatic
Auctions, Inc.'s "Long Beach Signature Sale", May 31-June 2, 2001, Lot
7582, "Breen-2012, 1888/7", not illustrated, sold for $805.00
ANACS Good-4. Ex - Bowers & Merena Galleries' "The Lake Geneva Sale",
June 28-29, 2001, Lot 164, "1888/7", illustrated, sold for $603.75
Sources and/or recommended
reading:
"The PCGS Population Report, October 2003" by The
Professional Coin Grading Service
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