Rarity: Very Common

Variety equivalents: Breen 891

Notes:
The obverse die of this variety was also used on:
1786 Maris 18-J
1786 Maris 18-L 
1786 Maris 18-N 

The reverse die of this variety was also used on:
1786 Maris 19-M 
1786 Maris 24-M  

Early states of the obverse die do not show the "bridle" die break that connects the horse's mouth and chest (see below).

Images courtesy of Clem Schettino

Significant examples:
"Uncirculated."  Ex - Richard Picker, privately - Bowers & Merena's "Norweb" sale, October 1987, Lot 1327 - private collector

"Uncirculated".  Ex - Parmelee - Ellsworth - Bowers & Ruddy "Garrett", October 1, 1980, Lot 1411 - private collector

"About Uncirculated".  Ex - Schulman "Spiro" sale, March 18, 1955, Lot 1466 - Stack's "Oechsner" sale, September 9, 1988, Lot 1256 - Stack's June 1997 sale, Lot 933 - private collector

"About Uncirculated".  Ex - Stack's "Roper" sale, December 8, 1983, Lot 302 (catalogued as Extremely Fine)

At least a dozen Extremely Fine examples are known to exist.

Recent appearances:
"Very Fine".  Ex - Early American History Auctions, Inc.'s Mail Bid Sale, August 25, 2001, Lot 1406, where it was described as follows: "1786 NJ Copper, Maris 18-M, "Bridle" variety, Very Fine.    Details of Extremely Fine, but the surfaces have a soft, micro-porosity and some scattered areas of green verdigris. Olive- and reddish-brown colors."

VF-35.  Ex – American Numismatic Rarities, LLC’s “The Classics Sale,” July 25, 2003 , Lot 47, "Maris 18-M, Rarity-1, 161.2 grains", illustrated, not sold

Sources and/or recommended reading:
"Walter Breen's Complete Encyclopedia Of U.S. And Colonial Coins" by Walter Breen

"New Jersey Copper, Part 45: Maris 18-L and 18-M" by Ray Williams, PENNY-WISE, September 15, 2000, page 273-274