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1793 1C Chain, AMERI., S-1, B-1, R.4, XF40 PCGS. CAC....
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Sold on Jan 12, 2022 for:
$78,000.00
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Description
1793 S-1 Chain AMERI. Cent, XF40
America's First Copper Coinage
1793 1C Chain, AMERI., S-1, B-1, R.4, XF40 PCGS. CAC. Breen
Die State III. A rather early die state for the variety showing
faint clash marks below the bust, and a small crescent-shaped die
bulge through the 1 of the date.The 1793 Chain AMERI. cent is thought by most scholars to be the first regular production issue of the United States Mint, produced in March 1793. Previous issues of the Philadelphia Mint were the pattern issues of 1792, or in the case of the 1792 half disme, were struck outside the actual coinage building that was not ready for operation when those diminutive coins were minted. Total production of the 1793 Chain cents was just 36,103 coins that required five die combinations identified today as Sheldon-1 through Sheldon-4, along with Dr. Sheldon's Non-Collectible variety 1.
Current rarity ratings suggest that there are about 140 surviving examples of the S-1 Chain AMERI. cent, perhaps 100 examples of S-2, 450 examples of S-3, 350 survivors of S-4, and two examples of NC-1. Assuming that the original production was in those same proportions, we can surmise that there were approximately 5,000 of the Chain AMERI. cents minted, although Breen estimated in his Large Cent Encyclopedia that production may have totaled 6,350 coins. The first delivery of Chain cents from the coiner to the Mint treasurer was dated March 1 and totaled 11,178 coins, likely including all of these Sheldon-1 cents.
Based on the earlier research of R.W. Julian, Breen suggested that the first Chain cents "may have been ceremonially struck on Washington's birthday, Friday, February 22." In his December 1974 Numismatic Scrapbook article, "The Cent Coinage of 1793," R.W. Julian wrote:
"By the third week in February [1793] all was in readiness to begin the first coinage of cents. There is no record of the actual first day of cent coinage. Since Washington's birthday was widely celebrated even at that time and he had taken a personal interest in the fortunes of the new institution, it is a fair assumption that February 22 saw some kind of ceremony in connection with this."
This piece has exceptional surfaces despite a small field depression right of Liberty's neck. A few other insignificant marks are evident on each side but the overall eye appeal is spectacular. Splashes of mahogany and pale gold toning appear on the pleasing chocolate-brown surfaces. Our EAC grade VF35. PCGS Chain AMERI Population: 9 in 40, 18 finer (11/21). PCGS S-1 Population: 2 in 40, 6 finer (11/21). A note about PCGS population data: the only coins that appear in the population report as attributed examples are those where the submitter pays an extra fee for attribution. Reporting the population solely of those pieces that are attributed is unhelpful, in this cataloger's opinion. All examples of the Chain AMERI are attributed as S-1, so all examples should be reported, whether they are attributed or not.
Ex: Greg Hannigan (8/10/2016), earlier from England.
From The Arizona 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 Arizona Collection ]
Auction Info
2022 January 12 - 16 FUN US Coins Signature® Auction - Orlando FUN #1341 (go to Auction Home page)
Auction Dates
January, 2022
12th-16th
Wednesday-Sunday
Bids + Registered Phone Bidders: 32
Lot Tracking Activity: N/A
Page Views: 2,754
Buyer's Premium per Lot:
20% of the successful bid per lot.
Rasmussen Special Edition Catalog
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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
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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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