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Lot
19157

1793 Chain 1C AMERI. S-1, B-1, Low R.4. Fine 15 NGC. Fine 12 EAC. Considered the first Chain cent produced, and struck at t...

2006 January Dallas, TX The Jules Reiver Collection Signature Auction #390

 
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Auction Ended On: Jan 24, 2006
Item Activity: 8 Internet/mail/phone bidders
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Location: Dallas, TX
Description:
Lovely 1793 S-1 Chain AMERI Cent
1793 Chain 1C AMERI. S-1, B-1, Low R.4. Fine 15 NGC. Fine 12 EAC. Considered the first Chain cent produced, and struck at the end of February 1793, the first coinage of the fledgling United States Mint after the facility was ready for operations. The abbreviated legend on the reverse almost certainly represents a layout problem that resulted from the engraver's inexperience. In his Encyclopedia of United States Large Cents, Walter Breen commented upon the belief of some who suggested that the abbreviated legend was "deliberate symbolism, after the style of the Masonic Unfinished Pyramid on the reverse of the Great Seal."
Considering the usual appearance of the Chain Cents, this is a remarkable example. Despite a few minor reverse rim bruises, the overall eye appeal is excellent. Surfaces have desirable light brown color and are exceptional for their quality. A small linear depression just below and right of the period following AMERI is the single identifying characteristic of this lovely cent. For the collector seeking an example of our nation's first coinage, this is an excellent candidate. Only a couple dozen finer examples are known. An intermediate die state with minor obverse and reverse bulges. Envelope Included.(Registry values: P5) (NGC ID# 223G, PCGS# 1340)

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