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1793 1C Chain, AMERI., S-1, B-1, R.4, AU50 PCGS....

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Sold on Aug 15, 2023 for:
$132,000.00 Bid Source: HA.com/Live bidder
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Description

1793 S-1 Chain Cent, AU50
AMERI. Reverse

1793 1C Chain, AMERI., S-1, B-1, R.4, AU50 PCGS. The 1793 Chain AMERI. cent is our first national coinage that was struck in early March of that year. The new Philadelphia Mint building was constructed late the previous year and a few pattern coins were minted, although the only previous Federal coinage intended for circulation were the 1787 Fugio cents and the 1792 half dismes that, despite their status as circulating coinage, were not minted within the physical first Philadelphia Mint facility. These Chain AMERI. cents were the first issues produced there following passage of the Mint Act of April 2, 1792.

Known as the Coinage Act, the legislation required Mint officers to post a bond that the chief coiner, Henry Voigt, and the assayer, Albion Cox, were unable to meet. This is frequently termed the "coinage impediment" and explains why copper coins were the only issues during the year. Once the bond requirement was lowered to levels that each could post, silver coins were added in 1794 and gold coins in 1795.

Just over 36,000 Chain cents were struck in March 1793 before the design was changed to the Wreath cent, and eventually, the Liberty Cap cent. Meanwhile, half cents were introduced at the same time the Mint was striking the Wreath cents. A type collection of 1793 coins can be as simple as four coins, or as advanced as seven coins (or even eight if the extremely rare Strawberry Leaf cent is included). A variety collection of 1793 coinage includes 28 coins and one of those is a unique 1793 Wreath cent variety that is included in the American Numismatic Society holdings.

While the present piece shows some scattered marks useful for identification, as well as blunt details at the central obverse, the surfaces are outstanding with no evidence of porosity or rim bruises. The reverse has a few planchet defects and other anomalies. Both sides show hints of faded orange on the blended chocolate-brown and olive surfaces.
From The Kurt A. Oster Collection.

Coin Index Numbers: (NGC ID# 223G, Variety PCGS# 35432, Base PCGS# 1340, Greysheet# 76717)

Weight: 13.48 grams

Metal: 100% Copper

View all of [The Kurt A. Oster Collection ]

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Auction Info

2023 August 15 - 20 ANA US Coins Signature® Auction #1364 (go to Auction Home page)
Auction Dates
August, 2023
15th-20th Tuesday-Sunday
Bids + Registered Phone Bidders: 43
Lot Tracking Activity: N/A
Page Views: 1,223

Buyer's Premium per Lot:
20% of the successful bid per lot.

Rasmussen Special Edition Catalog
This hard bound volume contains the magnificent Wes Rasmussen Large Cent Collection, formed by a former President of the Early American Coppers society which was auctioned at the 2005 Florida United Numismatic Auction. Reserve your copy of this remarkable volume for just $75 today.
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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Sold on Aug 15, 2023 for: $132,000.00
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