Images courtesy of Superior Galleries

Significant examples:
"VF-30" (illustrated above).  Superior "Pre-Long Beach Sale", 06/2000:148, where it was described as follows:
"1797 S-127 R4 VF30 The obverse is glossy dark chocolate brown, the reverse a frosty steel brown and chocolate. Nearly free of contact marks, the only notable one a small rim nick at the second A in AMERICA. However, both sides show some tiny planchet voids which didn't completely smooth away when the cent was struck--a rather common occurrence for early large cents. Rare early die state, before the obverse die cracked or rusted. CC#2 in both census listings (the nicer one is double struck). Another beautiful cent with a great pedigree.
     Ex Dr. George P. French 3/21/29-B. Max Mehl FPL, 1929:174-James G. Macallister-Henry C. Hines-Henry A. Sternberg-M.H. Bolender #190, 3/56:1593-R.E. Naftzger, Jr., 3/27/73-C. Douglas Smith-Dr. Robert A. Schuman."

Recent appearances:
Net VG-10, sharpness of Fine-15.  Ex - Bowers & Merena Galleries' "The Rarities Sale", January 3, 2001, Lot 24, "B-24", illustrated, not sold

Sources and/or recommended reading:
"Penny Whimsy" by Dr. William H. Sheldon

"Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins" by Walter Breen

Relevant collector organizations:
Early American Coppers Club