Overton Plate CoinEx Richard Pugh, Robinson S. Brown, Jr., Barrett Broyde, Dr. Charles Link.Hands down, the most important coin in this – or most any other sale of early American coins. Richard Pugh spotted it in the bourse case of J.J. Teaparty during the June 1987 Long Beach Show. I will never forget Richard’s sprint up the aisle to my table at the back of the room to share his find and excitement. Thirty-seven years later no other example has appeared. The population remains at – 2!
Don Frederick discovered the die pair, probably in the late 1970s. Frederick’s coin, “Fine Detail” with minor damage, sold privately to Dr. Gerald Schertz in June 1992. In December 1997 I sold that coin to the owner of the Overton Collection on behalf of Dr. Schertz. It remains in the Overton Collection. The Pugh coin, now sporting a CAC sticker, is generally thought to be the nicer of the 2 known specimens. Both are plated in Tompkins, p.254. The fields are naturally toned in deep grey. The devices, as expected, are more lightly toned. A very minor disturbance is noted in the weakly struck stars above the right wing. Pugh loaned the coin to Don Parsley (Al Overton’s son-in-law) so it could be photographed and plated in the 1990 3rd edition of Overton's standard reference. It remains the plate coin in the 4th and 5th editions.
Brain cancer took Richard Pugh from us in early 1992. His widow asked Superior Galleries to sell his die variety set of bust half-dollars. Along with the 1805 O.114, Pugh’s collection included circulated examples of such rarities as the 1817 O.104, an 1827 O.137, an 1831 O.120 and a pair(!) of 1827 O.148s. At the time all were rated R.7. Superior’s Beverly Hills auction room was packed. I sat in the front row alongside Julian Leidman. Each of us represented several absentee bidders. Julian was executing bids on behalf of Charlton “Swampy” Meyer (and others). I was handling bids for a dozen collectors, including Robbie Brown and Dr. Gerald Schertz. Brown’s secret maximum for the 1805 O.114, I may now reveal, was $43,000. I was puzzled when Dr. Schertz failed to give me a bid for the coin. The explanation came later. Brown won the coin easily at $15,400, including Superior’s buyer’s fee. Shortly thereafter I learned that Don Frederick had agreed to sell Dr. Schertz his coin for the same price that Pugh’s coin brought at the auction – whatever that might be. A smart decision for Dr. Schertz; Frederick was less than thrilled but honored their agreement.
Two years later Robbie Brown commissioned me to sell his nearly complete die variety set. I negotiated a sale of the coin offered here to Barrett Broyde, BHNC member #104. Broyde’s collecting interests were not limited to bust halves. He owned superb examples of such classic rarities as an 1894-S dime, an 1838-O half-dollar and the 1884 and 1885 Trade Dollars. Barry was an especially kind and generous man. Whenever I visited New York he insisted on treating me to lunch or dinner. He passed away in September 2018 after a long illness. Stack’s-Bowers received the consignment of Broyde’s collection and offered his collection at auction in November 2019 (using the pseudonym E. Horatio Morgan to identify Mr. Broyde). The Pugh 1805 O.114 was lot 7067 in the sale. Dr. Charles Link, always a genial yet formidable presence at auctions offering important early U.S. coins, made it known that he was interested in the coin. Like the Red Sea, his competition stepped aside, allowing Dr. Link to walk home with the coin (that many thought would bring 6-figures) for $55,200. When Dr. Link’s focus turned to early U.S. patterns and proof coinage he sold the coin to another die variety specialist via private treaty.
Estimate: $70,000 to $100,000
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Sheridan Downey, Numismatist 4400 Keller Ave.,
Suite 140, PMB 398 Oakland, California 94605 sdowney3@aol.com (510) 479-1585
