Rarity: Common

Variety Equivalents: Breen 1867

Notes:
Regarding Proofs, Wright wrote in 1992: "Three Proofs are confirmed from these dies and old sale records may represent up to two more."  In 1988, Breen claimed 4 Proofs.

This was the only use of the obverse die.

The reverse die of this variety was also used later on 1838 Newcomb 5.

Known Proof examples:
1. NGC Proof-63 Red and Brown.  Ex - Thomas L. Elder Auction #43 (Peter Mougey), Sept 1910, Lot 196 (plated) - Henry Chapman auction (Clarence S. Bement) May 1916, Lot 376 (plated) - S. H. Chapman auction (Henry Beckwith), April 1923, Lot 89 (not plated) - J. C. Morgenthau & Co Auction #287 (W. Festus Morgan), June 1932, Lot 291 as "A-9" - James G. Macallister - T. James Clarke - R. E. Naftzger Jr. - Eric Streiner - Anaconda Rare Coins - Ebay #3305447262, offered with a Buy-It-Now price of $29,751.00 and a closing date of January 20, 2003. 
According to Jack Wadlington, "The distinctive scratches between stars 6 and 8 on the Ebay coin are identical with the scratches on the coin plated in the 1910 and 1916 auctions, but the toning and general appearance differ greatly. Interestingly, the coin was catalogued as "Uncirculated" in the 1910, 1916, and 1923 auctions. Messrs. Elder and Chapman probably were reluctant to catalog it as a proof because stars 7 to 10 are not perfectly struck - but that's strictly a guess on my part, I really don't know.  The Breen "proof encyclopedia" lists three proof examples of this variety, but the author wrote that he had personally inspected only two of the three.
Both the Mougey (Ebay) coin and the other Proof 37N10 (ex: Floyd Starr) are attributed as Proofs by Breen and also in my 1996 copy of Denis Loring's census of proof large cents. Denis graded the Mougey (Ebay) coin Proof 64+ and the Starr coin Proof 60. My copy of the census also indicates Del did not see the Mougey (Ebay) coin, but he did see and grade the Starr coin Proof 60+.  I do not think Denis would have graded the Mougey (Ebay) coin Proof 64+ had it been in its present condition.
After Naftzger sold the coin to Streiner, it was submitted to NGC, who slabbed it as Proof 65RB.  Sometime during the last ten years, it has
been slabbed, removed from the slab, impaired, and finally reslabbed at a lower grade..."

Images courtesy of Anaconda Rare Coins and Currency

Recent appearances:
PCGS graded MS-64 Brown and Del Bland MS-60.  Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part I", February 16, 18-20, 2001, lot 508, illustrated, where it was described as follows: "Head of 1838. Newcomb-10, Rarity-1…Lovely medium chocolate brown surfaces with evidence of a lighter brown undertone. Flawless except for a minute nick on the jaw. An exceptional cent.", sold for $437.00

MS63.  Ex - Superior Galleries "Pre-Long Beach Coin Sale", May 27-29, 2001, Lot 1208, illustrated, sold for $431.25

Del Bland MS-60.  Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part I", February 16, 18-20, 2001, lot 509, illustrated, where it was described as follows: "Head of 1838. Newcomb-10, Rarity-1… Medium chocolate brown with a touch of olive through the obverse and above CE of CENT. Without any defects worthy of mention.", sold for $431.00

Sources and/or recommended reading:
"The Cent Book 1816-1839" by John D. Wright

"Walter Breen's Complete Encyclopedia Of U.S. And Colonial Coins" by Walter Breen

Jack Wadlington, EAC Region 8 Newsletter #335 January 19, 2003

Relevant collector organizations:
Early American Coppers Club