1795 'Garrett' Jefferson Head coin value up 11% pa since 1979
The 1795 'Garrett' Jefferson Head coin sold for $184,000 at a US auction on March 8
Paul Fraser Collectibles, Tuesday 13 March 2012
The "Garrett" 1795 Jefferson Head cent wowed the assembled masses at a coin auction in New York on March 8.
The superb looking specimen, certified as VF25 by NGC, sold for $184,000.
It had previously changed hands for $7,500 at a US auction in November 1979. That is a resounding 11% pa return, and further evidence of why growing numbers of investors are seeking the exciting diversity that rare coins offer.
It's why we believe investment-grade items such as this superb British William IV Proof Crown Coin will not be in our possession for long.
Among the most unusual of large cents, some believe the 1795 Jefferson Head is not a large cent at all. A number of numismatic experts state that the dies were the work of then-Philadelphia saw-maker John Harper as part of his efforts to acquire a coinage contract.
Despite its uncertain beginnings, the Jefferson Head always captures the attention of large cent collectors, as the forward-swirling lowest curl is like no other struck during that era.
Known as the Garrett specimen, the coin dates back through three generations of Garretts to the 19th century collector Dr Edward Maris.
It is easily recognised as the Garrett example by the depression at the rim over the RT of LIBERTY.
Following its sale in November 1979, the coin was left in the back of a taxi by new owner Tom Morley. The two were later reunited.
Paul Fraser Collectibles will bring you further rare coins news throughout the year, so make sure you check back regularly.
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Images: HA.comBy Paul Fraser