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Lot
3029

1793 Chain 1C AMERICA XF40 PCGS. S-3, B-4, Low R.3....

2011 March Sacramento Signature ANA US Coin Auction #1153

 
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Auction Ended On: Mar 17, 2011
Item Activity: 20 Internet/mail/phone bidders
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Location: Sacramento Convention Center
1400 J Street
Hall A
Sacramento, CA 95814

Description:
1793 S-3, B-4 Chain America Cent, XF40
Struck in Early March 1793
1793 Chain 1C AMERICA XF40 PCGS. S-3, B-4, Low R.3. Three major varieties and five die varieties are known for the 1793 Chain cents, the first coins struck at the newly opened Philadelphia Mint. The major varieties include the Chain AMERI cent, Sheldon-1; the Chain AMERICA cents, S-2, S-3, and NC-1; and the Chain Periods cent, S-4. Careful study of surviving specimens will demonstrate that the exact coinage order was S-1, S-2, NC-1, S-3, and S-4.
All 36,103 Chain cents were struck at the end of February and beginning of March 1793, with eight coinage deliveries dated from March 1 to 12. The March 1 delivery was the largest, including coins struck during several preceding days. In his large cent Encyclopedia, Walter Breen reported that some pieces might have been struck to celebrate George Washington's February 22 birthday, based on earlier research by R.W. Julian.
Breen suggested which varieties were included in each of the eight deliveries, and how many of each were struck. He indicated that part of the second delivery; all of the third, fourth, and fifth deliveries; and part of the sixth delivery included examples of the S-3 die pair. Breen posited that the actual original mintage of S-3 cents may have been nearly half the total mintage of all Chain cents. Others claim that correlating delivery figures and actual varieties is impossible.
This specimen exhibits bold clash marks on the obverse and minor die bulges on the reverse. The surfaces are smooth dark brown with splashes of lighter tan on the reverse. A few tiny rim bumps and trivial handling marks are the only distractions. MRB VF25.
From The Dustinn (Dusty) Lee Gibson Collection.(Registry values: N7079) (NGC ID# 223F, PCGS# 1341)

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