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Lot: 35
Auction: 1118   		1793 Chain 1C AMERICA VF35 PCGS....
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Ended: Dec 3, 2008
  Printable Version of Prices Realized for this Auction
 
Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Description
Pleasing 1793 S-3, B-4 Chain Cent, VF35


1793 Chain 1C AMERICA VF35 PCGS. S-3, B-4, R.3. The first coins struck at the fledgling United States Mint in Philadelphia were the Chain cents, struck in March 1793. After many years of Congressional discussion and debate, an Act establishing the Mint was finally passed on April 2, 1792, David Rittenhouse was appointed the first Mint director, real estate was acquired, employees were hired, equipment was obtained, and a quantity of copper was gathered. None of these preliminary steps were easy. Copper for these first coins came in the form of scrap that was acquired in various lots beginning in September 1792. Henry Voigt was responsible for the effort, and he was able to obtain more than three tons of the metal during the last four months of 1792.
Because the scrap copper came from various sources in different forms, it varied in quality, having many different trace elements in the mixture. When ingots were cast and strip rolled, the various trace elements would come to the surface, as would gas bubbles that created laminations. Although the technical explanation would be much more involved, the low quality of the copper translated directly to the coins in the form of laminations, split planchets, corrosion, and other problems. For those reasons, most Chain cents that exist today have rough surfaces and problems. The present coin, as remarkably fine as it is, provides a tangible example of the problems faced at the first Mint. The surfaces are show some roughness and a number of tiny pit marks. While some of those probably happened later, there is little doubt that many of the surface problems were a result of the substandard composition. Both sides have a few other blemishes and rim bumps that occurred after the coin was struck. It has excellent sharpness with light wear on the central obverse highpoints. EAC 15.(Registry values: N4719) (#1341)

Auction Name: 2008 December Houston, TX Signature Coin Auction #1118
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-3442)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 10 Internet/mail bidders, 2,116 page views


Rasmussen Special Edition Catalog
This hard bound volume contains the magnificent Wes Rasmussen Large Cent Collection, formed by a former President of the Early American Coppers society which was auctioned at the 2005 Florida United Numismatic Auction. Reserve your copy of this remarkable volume for just $75 today.
Rasmussen Signed Limited Edition Catalog
A hard bound limited library edition of the Wes Rasmussen Collection Catalog, signed by Wes Rasmussen, Mark Borckhardt, Greg Rohan, and Denis Loring, is available while supplies last. Only 100 produced. Reserve your copy of this remarkable limited edition signed volume for just $150 today.


Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 1121, Lot 165 Sunday, January 11, 2009 35 ANACS $12,075.00
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