Images courtesy of Superior Galleries

Significant examples:
"VF-20" (illustrated above).  Superior "Pre-Long Beach Sale", 06/2000:156, where it was described as follows: "1797 S-133 R5 VF20 Stemless Wreath Partially Engrailed Edge. Sharpness VF30 but there are a couple dozen light scratches on the portrait (perfectly blended into the patina) and a dull rim nick at M in AMERICA. Otherwise the planchet and surfaces are excellent. Nice glossy medium brown and chocolate with hints of reddish chocolate in some protected areas. There is clear evidence of diagonal reeding (engrailed edge), strongest at STATES OF. (The diagonal reeding indicates the planchet most likely came from Boulton in England, and similar reeding can be found on several varieties of 1797 cents.) MDS. Graded VF30 net VF20 by both Noyes and Bland. Tied for CC#4 in Noyes, #5 in Bland.
    Ex Stack's 10/10/57-C. Douglas Smith-Dr. Robert A. Schuman."

Recent appearances:
Del Bland graded VG-10.  Goldbergs "Benson Collection, Part I", 02/2001:300, "Reverse of 1797, stemless.  Sheldon-133, Low Rarity-5", $414.00.  Ex: Bowers and Merena, 3/96:141."

Net VG-8, sharpness of VF-30.  B&M "LaRiviere, Part III", 05/2001:1337, 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