Switzerland
Appenzell. Canton 4 Franken 1816 MS68+ NGC, Bern mint, KM12, Dav-368, HMZ-2-28b. Mintage: 1,850. A masterful example of the type, which for all practical purposes may be observed to be "as-struck". The surfaces retain an immense lustrous glow, essentially undisturbed by handling and veiled in a perfectly balanced arrangement of champagne highlights that cling to the devices, themselves raised in medallic fashion over the fields and expressed with a razor-sharpness that is exceptional to behold. At this level of aesthetic and technical quality it is doubtful that most collectors will ever locate a finer example.
Ex. Leu Numismatik Auction 88 (October 2003, Lot 2451)
https://coins.ha.com/itm/switzerland/appenzell/switzerland-appenzell-canton-4-franken-1816-ms68-ngc-/a/3089-30228.s?type=CoinArchives3089
HID02906262019
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Estimate: 5000-6000 USD