1793 Chain Cent, XF40
1793 Chain 1C AMERICA XF40 PCGS. S-3, B-4, R.3. Our EAC Grade
VF25. This pleasing Chain cent has smooth surfaces that exhibit
an attractive blend of chestnut-brown and olive with grayish-brown
accents on the design high points. A tiny rim bruise is evident
over LI of LIBERTY. An ancient scratch through the E of LIBERTY
joins another below RTY. Trivial marks are evident at the base of
the last A in AMERICA.
S-3, B-4, AMERICA Reverse
Breen Die State III. Clash marks appear below the bust and in front of the face. The reverse has die roughness below UNITED STATES that Breen suggests may have been from grinding away clash marks on that side.
Commentary. The mintage of 36,103 Chains cents took place during the first two weeks of March 1793, with eight deliveries dated from March 1 to March 12. The Sheldon-3 die pair is the most plentiful Chain cent variety, with an estimated total population approaching 500 coins, and that figure represents approximately half of all known Chain cents. However, most of those are low-grade examples, and the present piece ranks among the 20 finest known examples of the variety. Current condition census data suggests that only about 75 Chain cents exist in VF or better grades for all five known die pairs.
Market Notes. For all Chain cent varieties, PCGS has certified 28 examples in XF40, and 76 finer pieces, including a number of resubmissions. Market appearances are consistent with the PCGS population data. Since 1993, we have offered 42 XF Chain cents, and 37 finer examples in our auctions, including reappearances of a smaller number of coins. This example from the Adam Mervis Collection is ideal for a date or variety collection, or an advanced 18th century U.S. Mint type set.
Provenance. Bowers and Merena (8/2009), lot 130.
From The Adam Mervis Large Cent Collection.(Registry values: N7079) (NGC ID# 223F, PCGS# 1341)
Weight: 13.48 grams
Metal: 100% Copper
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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.
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