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1793 Chain 1C AMERI. XF40 PCGS. S-1, B-1, R.4. Our EAC Grade VF20. ...

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Sold on Jan 10, 2014 for:
$76,375.00 Bid Source: Live: Floor bidder
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Description

1793 S-1, B-1 Chain AMERI. Cent, XF40
From the Robinson S. Brown, Jr. Collection

1793 Chain 1C AMERI. XF40 PCGS. S-1, B-1, R.4. Our EAC Grade VF20. This piece was assigned a conservative Fine 15 grade in the Robinson Brown catalog. The sharpness approaches XF with smooth olive-tan surfaces showing delicate blue overtones. A small rim bruise is evident over the L in LIBERTY with others on the reverse. Faint hairlines and scattered surface marks appear on each side. Small planchet defects are noted in Liberty's hair. Described as cleaned and retoned in the Robinson Brown catalog, and if so, with extremely attractive results. We wish we could offer a roll of these!

Breen Die State III. An intermediate die state showing delicate die bulges at the 1 in the date and over the U in UNITED. Faint clash marks appear on below the bust and in front of the face, from the chain. There is no trace of the die crack that appears later through the tops of TATE.

Commentary. The first Chain cent struck in early March, the 1793 Chain AMERI. cents are extremely important historically, as the first coins struck for circulation in the Philadelphia Mint. There are two theories about the abbreviated legend on the reverse. Walter Breen once suggested deliberate symbolism, copied from the style of the Masonic Unfinished Pyramid on the Great Seal of the United States. The other theory was merely an abbreviation to maintain a balanced design.

Market Notes. PCGS has certified eight examples in XF40, with 14 finer (10/13). This is only the seventh appearance of a certified XF or finer Chain AMERI. cent since our auction archives were instituted 20 years ago. The Set Registry collector should give this piece careful consideration.

Provenance. From an old auction, lot 513; William T. Anton; Denis W. Loring (12/2/1988); Robinson S. Brown, Jr. (Superior, 1/1996), lot 1; Anthony Terranova.
From The Adam Mervis Large Cent Collection.(Registry values: P5)

Coin Index Numbers: (PCGS# 1340, GSID# 1212)

Metal: 100% Copper
Weight: 13.48 grams
Weight: 0.47549oz
Mintage: 36,103

View Certification Details from PCGS

Auction Info

2014 January 10 The Adam Mervis Large Cent Collection FUN Signature Auction - Orlando #1200 (go to Auction Home page)
Auction Dates
January, 2014
10th Friday
Bids + Registered Phone Bidders: 18
Lot Tracking Activity: N/A
Page Views: 8,150

Buyer's Premium per Lot:
17.5% of the successful bid per lot.

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Sold on Jan 10, 2014 for: $76,375.00
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