1787 N12-Z Fugio Cent PCGS VF25 Raised Rims Reverse W6830 R5- Syd Martin

1787 N12-Z Fugio Cent, Raised Reverse Rims, W6830, R5-.  From the Stacks Bowers sale of the Syd Martin collection, sold on 08/19/23 as lot #8466 and described as: “1787 Fugio Cent. Pointed Rays. Newman 12-Z, W-6830. Rarity-5-. STATES UNITED, Label With Raised Rims, Large Letters in WE ARE ONE. VF-25 (PCGS).  134.4 grains. The Newman 12-Z is one of seven combinations of the workhorse 12 obverse, clearly a well-made die that outlasted and outproduced its peers, given that all the known die combinations range from Rarity-2 to a high of only Rarity-6-. It also shares the Z reverse of the 1-Z Production Pattern, a die that is essentially identical to all its STATES UNITED brethren but for the unique sunken letters WE ARE ONE in a raised label and was clearly put into useful production. The manufacture of a die was not a trivial effort in the late 1780s, and every last die would have seen use. This coin is tied for seventh place with four others at the VF-20 level on the Retz census, though we can see why the ideal chocolate brown, mostly smooth surfaces influenced PCGS to grade this coin five points higher. Surfaces are choice, with a minor peripheral planchet flake noted at 3 o'clock on the obverse, and a patch of darker brown is at the rings at upper left reverse. A slightly inferior piece graded VF-20 brought $3,600 in our June 2022 Baltimore Auction.  Provenance: From the Sydney F. Martin Collection. Earlier ex Donald Scarinci Collection, November 2010.”  The coin sold for just $1,800 in that 2023 auction, and I purchased the coin for my own collection from CVM at EAC 2026 Charlotte on 05/02/26.  Certainly a PLUS coin, and way nicer than the Stacks photos suggest.  Hopefully my photos will do a better job of capturing how exceptionally nice this mid-grade example really is.  PCGS certification# 878500.25/46763860 with “Newman 12-Z, Raised Rims” on the special Sydney F. Martin Collection PCGS label.