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Lot
5016

1793 Chain 1C AMERI. VF35 NGC. S-1, B-1, R.4....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 10 Internet/mail/phone bidders
1,813 page views
Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:

Choice VF 1793 Chain Cent
AMERI. Reverse, S-1, B-1
1793 Chain 1C AMERI. VF35 NGC. S-1, B-1, R.4. Die State III, with clash marks from the chain faintly visible in the space under the truncation of the bust. The S-1 or B-1 is the simplest of the Chain cent varieties to attribute, as it is the only one to use the abbreviation AMERI. for AMERICA on the reverse. (Why the engraver chose such an abbreviation, which manages to save a grand total of two letters on a word that has plenty of space on either side, is another question entirely. Walter Breen, in fine conspiratorial form for his Encyclopedia of United States Large Cents, suggested a connection with the unfinished pyramid on the Great Seal of the United States and dragged the Masons into it.)
Whatever the reason, the first coins struck at the U.S. Mint (a sequence created from knowledge of the overlapping uses of dies) did not bear the country's full name, though subsequent Chain and later cents do. This quirk is one of the defining features of the issue, a signature detail that is easy to spot even on extremely worn examples and a clear marker of such coins' place in history.
As with many S-1 Chain cents, this piece has weak device detail, and so the grade largely comes down to surface. Cinnamon-orange and violet overtones enhance deep brown surfaces that retain considerable luminosity while showing their share of small to moderate marks. A "ring spot" of toning appears to the right of Liberty's profile, though potential bidders should not concern themselves with the seeming vertical flaw bisecting the portrait, for that is a holder-scratch not on the coin itself. Our EAC grade VF20.
From The Rocky Mountain Collection.(Registry values: P5) (NGC ID# 223G, PCGS# 1340)

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