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23

1793 Chain 1C AMERICA AU53 PCGS....

2007 Summer F.U.N. (July, West Palm Beach, FL) Signature Coin Auction #442

 
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Auction Ended On: Jul 12, 2007
Item Activity: 15 Internet/mail/phone bidders
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Location: West Palm Beach, FL
Description:
Sharply Defined 1793 S-3 Chain Cent
1793 Chain 1C AMERICA AU53 PCGS. S-3, B-4, Low R.3. The obverse surface has countless minute defects that are almost entirely planchet flaws, in our opinion, representing an improperly refined strip of copper, a common problem in the first year of Mint operations. A few tiny rim bumps are visible, and these appear to be the only post-strike imperfections.
In direct opposition to the obverse, the reverse surface is nearly flawless. Only a few minute defects, rim flaws, and abrasions can be seen. Both sides have lovely medium brown color with traces of darker steel color on the high points. Considerable original mint frost remains, with splashes of lighter tan on the reverse, faded from original mint red.
This example is a later die state. The obverse has prominent clash marks around and below the bust, and the reverse is flowlined with field roughening below UNITED STATES.
There is no question among specialists that Sheldon-3 is the most common Chain cent. Current rarity ratings for the Chain cent varieties suggest that the total surviving population of all varieties is 900 to 1,000 coins, with 400 to 500 examples of the S-3 and about 500 to 600 of all other varieties combined. Working under the assumption that the current rarity ratings are reasonably accurate, we can surmise that the original mintage occurred in about the same proportion. Approximately 18,000 examples of this die marriage were coined, with another 18,000 of the other three Sheldon numbers. EAC 40.(Registry values: N7079) (NGC ID# 223F, PCGS# 1341)

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