 1794 S.48 (R-5). The very rare and highly collectible variety that exhibits stars amid the reverse denticles, most noticeable between 4:00 and 9:00. The obverse exhibits the detail of Very Fine-25. The reverse, as is typically the case, is somewhat weaker and displays definition consistent with that of a Choice Very Good-10. There is rather uniform microporosity over fields and design features that offer a pleasant medium brown patina. A few trivial edge bumps of very little consequence are mentioned only for completeness. This celebrated Large Cent variety always attracts plenty of attention regardless of the quality of the piece being offered. In fact, the rarity of this issue is only exacerbated by the view held by many that this issue represents a distinct type coin unto itself! With many of the known specimens being within a grade range that is abysmally low, the very respectable example presented here certainly constitutes an important opportunity for the Large Cent, and perhaps the type coin specialist!
Although much has been written regarding the reasons why there are stars along the rim of this reverse, a definitive explanation has remained somewhat of a mystery. Perhaps the most plausible rationale is that these stars (apparently from the same punch used by Joseph Wright on the reverse of his 1792 pattern quarter dollars) were intended to act as an anticounterfeiting device.
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