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    Description

    1793 S-1, B-1 Chain AMERI. Cent, XF45
    Intermediate Die State
    Our First Copper Coin for Commerce

    1793 1C Chain, AMERI., S-1, B-1, R.4, XF45 NGC. CAC. Breen Die State III. When Congress passed the Mint Act of April 2, 1792, authorized denominations ranged from the half cent to the eagle. Silver coins entered circulation in late 1794 due to unmet bond requirements stipulated in that legislation. The first gold coins appeared in the summer of 1795. Copper coins were the only production of the Philadelphia Mint for its first 19 months of operation from March 1793 through September 1794.

    Shortly after the Mint Act passed Congress, David Rittenhouse accepted President Washington's appointment as the Mint Director, and he immediately set about with preparations for the new facility. Copper and silver pattern coins were minted in 1792, although some of those pieces, such as the 1792 half dismes, were produced outside of the physical Mint building.

    After meeting the challenge of a copper supply, all was ready for production toward the end of the first quarter, 1793. Mint officers purchased more than 6,000 pounds of copper from October to December 1792, and that copper was refined to remove impurities. The Mint delivered 36,103 cents from March 1 through March 12, 1793, using four obverse dies and two reverse dies. Those first copper coins were the Chain cents, and a careful study of die states, or the changing condition of the dies through use, proves that the Chain AMERI. cents were the first ones produced at the end of February. Henry Voight was the chief coiner at the time, and worked with his staff to produce these coins.

    This intermediate die state example has a small obverse die bulge through the 1 of the date, and another small bulge on the reverse over the U in UNITED. Faint clash marks are noted below the bust. There is no evidence of a die crack or rim break at TATE. The smooth tan and chocolate-brown surfaces exhibit myriad handling marks, but no spots or corrosion. This exceptionally attractive Chain cent should garner spirited bidding. Our EAC grade VF30.
    Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $30.00; Eric P. Newman Numismatic Education Society.

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

    Weight: 13.48 grams

    Metal: 100% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    Auction Info

    Auction Dates
    November, 2017
    1st-3rd Wednesday-Friday
    Bids + Registered Phone Bidders: 51
    Lot Tracking Activity: N/A
    Page Views: 3,587

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) 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.
    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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