1796 Half Cent Pole coin up 363% on estimate

paulfrasercollectibles

2015-06-26 13:08:24

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1796 Half Cent Pole coin up 363% on estimate

The US 1796 Half Cent With Pole coin brought $293,000 at the Salisbury, UK auction

A rare 1796 US Libertywith Pole Half Cent coinsold in the UK last night (January 22) for a substantial 185,000 ($293,069).

The hammer price represents an impressive 362.5% increase on its 40,000 ($63,415) top-end estimate.

1796 Pole Half Cent found in matchbox auctions with 363% increaseDaniel Fearon, a consultant at the auction house that presided over the sale, commented: I hope it will always be remembered as the Mark Hillary coin.

The seldom-seen specimen is one of only 1,400 ever struck at the Philadelphia Mint, and the price achieved is testament to its condition and scarcity.

The coin remains in extremely good condition and boasts an even brown patina. While the cap shows a little flatness in striking, the fold lines are unusually distinct.

All the more remarkable for having been discovered in a match box, the pure copper, Pole Half Cent was originally designed without a pole by the Mint's chief engraver, Robert Scott. Fewer than 20 examples of the With Pole variety have been certified across all grades by theProfessional Coin Grading Service and Numismatic Guaranty Corp, according to Coin World.

The coin was offered from the collection of the late Mark Hillary, a British student of Classics at Oxford University, who died in a climbing accident in 1963, aged just 20. Hillary had fashioneda makeshift display case from a matchbox, which, along with its valuable contents,was subsequently discovered by a relative.

Daniel Fearon, a consultant at the auction house that presided over the sale, commented: "I hope it will always be remembered as the Mark Hillary coin."

For more information on the investment potential of the coin market, see our free guide to investing in rare coins.

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