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

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

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Auction Ended On: Oct 18, 2012
Item Activity: 8 Internet/mail/phone bidders
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Location: Dallas Convention Center
650 S. Griffin Street
Dallas, TX 75202


1793 S-3, B-4 Chain Cent, XF40
Ideal Type Set Coin
1793 Chain 1C AMERICA XF40 PCGS. S-3, B-4, Low R.3. The Philadelphia Mint used four obverse and two reverse dies to strike 36,103 Chain cents during the first two weeks of March 1793. The obverse depicts a right facing portrait of Liberty with flowing hair. The word LIBERTY is at the upper periphery and the date is below. The reverse is simply designed with the denomination ONE CENT 1/100 within a chain of fifteen links. The legend UNITED STATES OF AMERICA (or AMERI. on the first reverse die) encircles the border. These were the first regular issue coins struck under the authority of the federal government within the walls of the Philadelphia Mint. The limited number of coins delivered was due to the short supply of copper planchets, and the eclipse of the design after only one year of production probably signifies the public's criticism of both the obverse and reverse motifs.
Current rarity ratings for the five known varieties suggest that about 1,000 to 1,200 exist today, or about 3% of the original mintage. Perhaps as many as 500 of those coins are the S-3 die pair offered here. Most of those coins are low grade and/or impaired, in part because the lack of a raised border failed to adequately protect the devices.
Both sides of this pleasing example are remarkably distraction-free despite having seen 20 points of wear. There are clash marks from the chain links around Liberty's portrait, as well as a few isolated areas of roughness in the planchet. We stress, however, that these features do not detract from the impressive overall eye appeal. Rich chocolate-brown color blankets both sides, with warm olive-gold highlights intermixed on the reverse. A boldly detailed example for the advanced collector. Our EAC grade VF25.
Ex: Bob Bisanz U.S. Type Set (Heritage, 1/2001), lot 6104.(Registry values: N7079) (NGC ID# 223F, PCGS# 1341)

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