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1793 Chain 1C AMERICA XF45 PCGS. S-3, B-4, Low R.3....

2011 January Tampa FUN Signature & Platinum Night US Coin Auction #1151

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Auction Ended On: Jan 6, 2011
Item Activity: 10 Internet/mail/phone bidders
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Location: Tampa Convention Center
333 S. Franklin St.
Tampa, FL 33602

Choice XF 1793 Chain Cent
1793 Chain 1C AMERICA XF45 PCGS. S-3, B-4, Low R.3. The obverse as described by Bill Noyes (italics his): "Letters of LIBERTY irregular in both size and position. The R is large, high, and leans to the right." The S-3 is the most accessible of the four canonical Sheldon varieties of Chain cent (not counting the NC-1), a die pair on the more available side of scarce. The rarity factor, however, is an absolute number, never taking into account demand, and demand for Chain cents, whatever the grade, whatever the die pair, is multiples upon multiples in excess of demand.
The Chain cent is, simply put, one of the most important coins to the student of U.S. coinage. It represents the ephemeral beginning of the Philadelphia Mint, struck in small quantities, done in mere months, and prized by collectors from the daydreamer who flips through the Guide Book and fantasizes about a Poor 1 example to the numismatist who has the financial wherewithal to chase the finest known examples, and chase they will, for these treasured coins often stick with their owners for years at a time, if not decades.
While an EAC member might not rate this coin so highly as the Choice XF designation granted it by PCGS, it is a gorgeous coin that is sure to appeal to midrange or upper-end enthusiasts of the earliest large cents. Rose-tinged cinnamon-brown surfaces show a few abrasions near the profile but are otherwise smooth. The level of detail remaining is pleasing, and aside from a few minor bumps, the rims are similarly well-formed. A great opportunity to own a piece of history. MRB VF35.(Registry values: N7079) (NGC ID# 223F, PCGS# 1341)

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