Finding a high-grade example of America’s first federally authorized coin is exciting. However, discovering one with a dramatic mint error is something else entirely. This 1787 Fugio cent delivers both, and then some. Could it be the first US Error Coin?
In fact, coins like this do not just appear. They demand attention. And this one tells a story that stretches back to the earliest days of the United States Minting experiment.
The Coin: A Remarkable Mint Error in Mint State
1787 Fugio Cent. Pointed Rays. Newman 11-B – Double Struck – MS-63 BN (PCGS)
At first glance, this coin stands out for its preservation. MS-63 Brown examples of Fugio cents are already scarce. Yet this piece goes further. It exhibits a bold and highly visible double strike on both sides.
The second strike sits off-center. On the obverse, it appears at approximately 8:30. On the reverse, it shifts to around 10 o’clock. As a result, both impressions remain partially visible. Even more impressively, the coin shows two full dates and two distinct sun faces.
The surfaces are equally compelling. They appear satiny and well-preserved. Traces of faded rose-red color still survive. Meanwhile, steel-brown and golden-olive tones dominate the patina. A thin planchet void in the right obverse field of the first strike serves as a useful diagnostic marker.
Why This Coin Is Extraordinary
Double-struck Fugio cents are rare. However, examples in Mint State are virtually unheard of.
Typically, early copper coins circulated heavily. Therefore, most known error pieces show wear. This coin breaks that pattern. It combines strong technical quality with a dramatic minting mistake. That pairing elevates it into elite territory.
Moreover, the double strike is not subtle. It is bold. It is easily visible without magnification. Consequently, it offers both visual appeal and technical significance.
The Newman 11-B Variety and Its Rarity
The coin belongs to the Newman 11-B variety, one of the scarcer issues within the Fugio cent series.
Importantly, this variety is associated with the famous Bank of New York Hoard. A 1948 census recorded only 60 known examples of Newman 11-B. That number underscores its scarcity.
This specific coin also carries pedigree significance. It appears plated on page 70 of Jeff Rock’s 2016 update to Fugio Copper Notes by Rob Retz. There, it is described as a spectacular multiple offset strike with an early reverse die state.
However, careful examination reveals faint clash marks. These appear in the obverse field around both dates. Still, the clashing remains light. Therefore, the die state is earlier than Newman C.
The Bank of New York Hoard: A Foundational American Treasure
To understand this coin fully, one must understand the Bank of New York Hoard.
Shortly after the Fugio cents were struck in 1787, a large quantity remained unused. These coins eventually came into the possession of the Bank of New York, an institution founded by Alexander Hamilton.
For decades, the coins sat undisturbed. Then, in the mid-19th century, the hoard was rediscovered. Many pieces entered the numismatic market, often in unusually high grades for early American copper.
This hoard shaped modern understanding of Fugio cents. It preserved varieties that might otherwise have vanished. It also explains why certain examples, like Newman 11-B, survive in collectible condition.
A Closer Look at the Minting Error
The double strike on this coin offers insight into early minting practices.
First, the coin received its initial strike. Then, it shifted position before a second strike occurred. Because the strikes are offset, both impressions remain visible.
Notably, the error affects both obverse and reverse. That detail adds complexity and desirability. It also confirms that the coin was struck twice under misaligned conditions rather than being damaged later.
Major mint errors from the Fugio series are exceedingly rare. When they do appear, they rarely combine clarity, strength, and preservation like this example.
Condition, Eye Appeal, and Collector Significance
This coin grades MS-63 BN (PCGS). That designation alone places it among the finest Fugio cents available.
However, condition is only part of the story. The eye appeal is exceptional. The surfaces remain hard and original. The color displays depth and variation. Meanwhile, the bold error creates immediate visual impact.
For collectors, this piece checks every box:
- Scarce variety
- Hoard association
- Major mint error
- Mint State preservation
- Strong visual appeal
As a result, it stands as one of the most desirable Newman 11-B examples known.
A Coin That Should Not Exist
Coins like this challenge expectations.
Early American copper rarely survives in high grade. Mint errors from the period are even rarer. Yet this coin delivers both in a single piece.
It offers a snapshot of 1787. It shows the realities of early minting. At the same time, it connects directly to the Bank of New York Hoard and the financial foundations of the United States.
In short, this is not just a coin. It is a historical artifact with personality, drama, and undeniable presence.
The post A Double-Struck Fugio Cent in Mint State? A Discovery That Stops Collectors in Their Tracks appeared first on CoinWeek: Rare Coin, Currency, and Bullion News for Collectors.