From the Earlycoppercoins PCGS Registry Set. 1788 M1-I Connecticut 1/2p, Small Head with Vermont Reverse, W2265, R5+. This coin is ALSO Vermont RR-39, which is W4400. A very interesting variety, one that Ron Guth describes on the PCGS website as: “The 1788 Connecticut Small Head Right is a very interesting coin that combines an obverse of a 1787 Connecticut Copper with the reverse from a 1788 Vermont Copper, confirming that there were some sneaky things going on in New England in 1788. These are usually on small, somewhat under-sized planchets and they are most often found in poor condition or they have surface problems or damage. Examples above Fine condition are very rare. Because of the low supply and the high demand from both Connecticut and Vermont collectors, prices are higher than usual for coins of similar rarity.” It looks like very few coins have passed muster at PCGS in non-details grades. The population appears to be 55, 35, 25, 15, three coins at 12, and then this coin at 8. This example has very pleasing chocolate and tan brown color, with surfaces that are mostly smooth and attractive. The tops of the date can be made out but only with lots of imagination, and most of the other details are clear on both sides. Although R5+, the rarity feels much harder than that, likely because it is avidly collected by CT, VT, and even Machin’s Mills collectors, creating extra demand. There are no auction records tied to the PCGS#, BUT I was able to locate this coin in the Stacks Bower’s archives, sold on 05/20/24 as lot #91251 in the Collector’s Choice Online Auction. The coin apparently went unnoticed as it sold for just $2,280 against a PCGS Price Guide value of $5,000. However, in that Stacks Bowers auction this coin was graded NGC VG8 and then crossed over to PCGS as VG8. There was no lot description in that sale, BUT the auction listing does mention a weight of 104.7 grains, and a prior pedigree to The Charles Smith Collection. The prior NGC certification# was 6876968-021; the current PCGS certification# is 687246.08/49756992 with “Small Head, Miller 1-I” on the label.
