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Memorable 1793 Chain, Periods Cent, S-4, Late Die State
One of the Top Dozen Known for the Variety

1793 Chain 1C Periods XF45 PCGS. S-4, B-5, R.3. Die State III. This memorable example of the Chain, Periods Sheldon-3 variety ranks among the top dozen pieces known for the variety, with overall good appeal and pleasing planchet surface quality. The variety is easily distinguished by the periods that appear after both the date and LIBERTY. The date and LIBERTY are also closer on this variety than any other of the Chain variants. The L and B are low and nearly touching. Walter Breen's Encyclopedia of United States Large Cents notes that "on the obverse die, the hair is so differently treated from the rest as to suggest a different engraver. Perhaps this was a sample die by Joseph Wright leading to the engravership. Wright's 1792 pattern quarter obverse has a similarly soft treatment of the hair, and a period after LIBERTY. But if Wright did this, why is there no record of his part-time employment before appointment as engraver?"
This coin is in an extremely late die state for the variety. The rim break where the first two die cracks that Breen delineates come together is noticeably heavy. There is another crack visible all the way from RTY through BER and I to the rim (this last "faintly," as Breen says). The wavy raised lines before the mouth, chin, and neck, apparent die clashes from the chain, are bold. Although the beautiful surfaces are a pleasing medium-brown, there is a small retained planchet lamination from 2:30 to 3 o'clock, near the rim and just before Liberty's nose. Sufficient hair detail remains on the obverse that one can truly appreciate the designer's fine touch in Liberty's hair, which appears as individual strands that resolve into thick tresses.
The reverse, stronger as always, shows hints of muted mint red near the borders, and only a single tiny tick on the rim, above CA, requires singular mention.
This piece, certified in a green-label holder, ranks among the top dozen or so pieces known for the variety. EAC 35.(Registry values: P5) (NGC ID# 223F, PCGS# 91341)

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Auction Dates
August, 2007
Internet/Mail/Phone Bidders: 12
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Rasmussen Special Edition Catalog
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Rasmussen Signed Limited Edition Catalog
A hard bound limited library edition of the Wes Rasmussen Collection Catalog, signed by Wes Rasmussen, Mark Borckardt, Greg Rohan, and Denis Loring, is available while supplies last. Only 100 produced. Reserve your copy of this remarkable limited edition signed volume for just $150 today.

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