Opening Bid :
Current Bid:
Reserve Amount:

Notice: You are the current high bidder on this lot, but the next highest bid is within one increment. That means that any additional bids on this lot will outbid you. To increase your chances of winning, enter your highest maximum bid.

You are the current high bidder on this lot with a secret maximum bid of %s.

You are the current high bidder on this lot.
(Sign-In to see your maximum bid)

Your secret maximum bid of %s has been outbid.

Your secret maximum bid of %s does not meet the reserve.

You have been outbid on this lot.
(Sign-In to see your maximum bid)

Your secret maximum bid does not meet the reserve.
(Sign-In to see your maximum bid)

Category: All Auction Archive Items > Large Cents Switch to Old Search Feature

Previous Lot | Auction Home | Next Lot      Jump to Lot:
Lot: 2002
Auction: 460   		1793 Chain 1C AMERICA MS62 Brown PCGS. S-3, B-4, Low R.3. ...
  • Track this lot. You are tracking this item ... updating ... (stop tracking)
  • Add to MyWantlist
 
 
 

BP - Buyer's Premium

A "Buyer's Premium" is charged in addition to the successful bid according to the rate defined in our terms and conditions.

Opening Bid

The opening bid is the minimum amount required to begin bidding, and is generally a percentage of the low estimate.

Bid Information

For your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.

Minimum Bid

Bid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the current bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a cut bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment. However, for Internet bids, these increments only apply to the current bid. Internet bids greater than one increment over the current bid can be any whole dollar amount. It is possible under several circumstances for winning bids to be between increments, sometimes only $1 above the previous increment.

Number of Bidders

This number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.

Status

Reserve (If Any) Not Posted Yet:
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions.
Consignor Has Not Yet Submitted a Reserve:
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
No Reserve:
This lot is being sold without a reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserve Met:
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.

What's This?

Our Auction Results Archives are not only the best resource for market research, but now you have the opportunity to acquire very rare items that may not be auctioned again for some time by making an anonymous offer that will make the owner sell. Items labeled "Buy Now" indicate that the owner has set a price that would make them sell.

Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell. This service is free to the buyer, protects the identity of both parties, and allows offers and counter-offers. You will receive a response within 72 hours.


View Larger Image

Sold for: Sign-in or Join (free & quick)
Ended: Feb 14, 2008
  Printable Version of Prices Realized for this Auction
 
Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Description
Lustrous 1793 S-3 Chain Cent, A Golden Beauty


1793 Chain 1C AMERICA MS62 Brown PCGS. S-3, B-4, Low R.3. Bland AU55; tied for CC-3. Noyes AU50; CC-5. Photo #32066. Our EAC Grade AU50.

Equivalents. Crosby-Levick 2B; Frossard 3; Proskey 3; Doughty 3; Crosby 3-C; McGirk 1-E; EAC 4; Encyclopedia 1635; PCGS #1341.

Variety. Close date with R large and leaning right. Full legend, AMERICA. The obverse appears on S-3. The reverse appears on S-2, S-3, S-4, and NC-1. The obverse has a smoothly curved bust line and a close date with the digits 1 and 9 higher than the 7 and 3.

Surfaces. A lustrous steel and golden-brown Chain cent with frosty surfaces faded from original mint color. Both sides are splendid and problem-free with the exception of a couple of insignificant rim bruises on the obverse. Noyes assigns a sharpness grade of AU55 and deducts five points for the rim bruises.

Die State III. The obverse has heavy clash marks around the profile, while the reverse is rough near UNITED STATES. In 1897 Crosby correctly identified the clash marks: "The form or outline of the chain upon the reverse is often found incused on this obverse in front of the mouth and throat, and under the neck, probably caused by a partial impression of the reverse die being received by the obverse from an accidental contact without an intervening planchet." The reverse is rotated to 12:30.

Appearances. The obverse and reverse are illustrated in Noyes (2006) and in the 1914 ANS Exhibition Catalogue. In 1914 the American Numismatic Society mounted an exhibit of the most impressive numismatic specimens known at the time. The exhibit brought together examples from the society's own collection, as well as those from many of the most famous collectors of the day. An extensive plated catalog of the collection was published, and remains a valuable source of provenance information to this day.

Census. In addition to two Mint State pieces, three coins are graded AU55 by Del Bland, followed by a small group graded XF45. One of the AU55 coins is in the ANS collection, leaving only four AU or finer examples of the Sheldon-3 variety available to collectors.

Commentary. Sheldon-3 is easily the most common Chain cent, with enough pieces available that every interested collector can acquire an example. This variety represents fully half of all known Chain cents that exist today, so it probably also represents half of those pieces originally struck in 1793, or about 18,000 coins. It is unknown who first identified the Sheldon-3 die marriage. Since it was illustrated on the Crosby-Levick plate along with all other Sheldon-numbered Chain cents, it was recognized as a variety before 1869.

On January 28, 1791 Treasury Secretary Alexander Hamilton submitted an extensive report that examined the issues relative to the establishment of a Mint: "A plan for an establishment of this nature, involves a great variety of considerations-intricate, nice, and important. The general state of debtor and creditor; all the relations and consequences of price; the essential interests of trade and industry; the value of all property; the whole income, both of the State and of individuals, are liable to be sensibly influenced, beneficially or otherwise, by the judicious or injudicious regulation of this interesting object."

Hamilton examined all aspects of such an establishment in an extremely detailed report, which was the basis for the Mint Act of April 2, 1792. In his report, Hamilton considered numerous particulars:

"1st. What ought to be the nature of the money unit of the United States?
"2nd. What the proportion between gold and silver, if coins of both metals are to be established?
"3rd. What the proportion and composition of alloy in each kind?
"4th. Whether the expense of coinage shall be defrayed by the Government, or out of the material itself?
"5th. What shall be the number, denominations, sizes, and devices of the coins?
"6th. Whether foreign coins shall be permitted to be current or not; if the former, at what rate, and for what period?"

Provenance. Malcolm N. Jackson (United States Coin Co., 5/1913), lot 1226, $140; Carl Wurtzbach (1919); Virgil M. Brand (2/1941); B.G. Johnson (St. Louis Stamp & Coin Co.); Dr. J. Hewitt Judd; Abe Kosoff (Illustrated History, 1962 fixed price list), lot 16; Kreisberg and Schulman (5/1966), lot 753, $6,750; Jake Browning; Harmer, Rooke (11/1969), lot 807A, $9,000; 1970 ANA (RARCOA), lot 1602A, $8,500; Stack's (10/1990), lot 1590, $33,000; Anthony Terranova, Kenneth M. Goldman, and Martin Paul; Denis W. Loring (7/1994); John B. MacDonald; Denis W. Loring.

Personality. A resident of Omaha, Nebraska, Dr. J. Hewitt Judd was born on May 12, 1899, and died on December 23, 1986. Judd was a professor at the University of Nebraska from 1930 to 1964, and accepted the position of chairman of the Ophthalmology Department in 1942. He is best known for his interest in patterns, and wrote the standard reference to the series, United States Pattern, Experimental, and Trial Pieces. Judd was active in ANA operations, serving on the board of governors from 1945 to 1951, as vice president from 1951 to 1953, and as president from 1953 to 1955. He also served on the 1965 Assay Commission. (#35438) View Entire Collection.
Auction Name: 2008 February Long Beach, CA Signature Coin Auction #460
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.)

Signature Floor Sessions
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: 9 Internet/mail bidders, 3,935 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

No previous prices realized recorded for this item in this grade.
View prices realized from this item in other grades (you must be signed in)

PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

Previous Prices from Heritage Auctions
Sign-in or Join (free & quick)

Price Guide
Sign-in or Join (free & quick)

Population Guide
Sign-in or Join (free & quick)

Find Auction Prices for Comparable Items
Heritage Auction Archives

Prices realized from past auction lots.
Great valuation tool!

Photographs

Sign-in or Join (free & quick) to see the full image

Previous Lot | Auction Home | Next Lot      Jump to Lot:
Go to Top


Add Item to MyWantList™
Description Grading Service Low Grade High Grade  

Please Wait

Loading.......

Heritage delivers Value - $694,500,693 sold at auction and in private treaty sales over the past 12 months.

Our 265,587 Coin bidder-members and 480,027 Heritage bidder-members overall (from 164 countries) enjoy all these free benefits:

  1. Bid on-line
  2. Free Collector newsletter
  3. Want List with instant e-mail notifications
  4. Auction Archives (prices, photos, full descriptions, etc.)
  5. Hall of Fame
  6. Reduced auction
    commissions when
    you resell your
    winnings 

Members Sign In

Free Newsletter and Announcements!

Quality Consignments Wanted

Only 35 days left to consign to the 2010 February Long Beach, CA Singature US Coin Auction!

We expect to have one of our Consignment Directors visiting your area soon. Please call to arrange an appointment.

E-mail Leo Frese or call
1-800-872-6467 x1294

Video Video: Why Consign?

View traffic of HA.com vs. other auctions on Compete.com

In The News

sss
Cross Promotion

Don't miss out!
Get e-mail notifications in all of your areas of interest.