1787 New Jersey 1/2p, M44-d, W5324, Small Planchet Plain Shield with "Sleigh Runner" obverse, R4. This is one of the nicknamed New Jersey varieties, and apparently that nickname goes WAY back! This example has been authenticated and graded by PCGS as VF25, and it's an Average example for the variety. The surfaces are decent with mostly dark brown color and some maroon mixed in. Minor signs of contact only, and the details are solid VF on each side. A suitable example for this R4 popular variety, yet I would be happy to upgrade this one if the opportunity presents itself. The Small Planchet Plain Shield attribution is on the PCGS label, but Maris 44-d and Sleigh Runner are NOT. Ex-Furnace Run collection 06/12/23; prior pedigree to eBay in 2020.