1793 1C Chain, AMERI., BN
The 1793 1C Chain, AMERI., BN (Regular Strike) is a numismatic treasure that holds immense historical and collector value. This coin, minted at the Philadelphia Mint, marks the beginning of the United States large cent series, a crucial part of America's numismatic history. The 1793 Chain Cent is particularly noteworthy for its distinct design, where the word "AMERI." is used on the reverse, an abbreviation of "AMERICA."
Historical Significance The 1793 Chain Cent was among the first coins issued by the United States Mint, making it a cornerstone of American numismatics. The design, created by Henry Voigt, featured a chain on the reverse, which was intended to symbolize the unity of the states. However, the chain design was quickly criticized because it was reminiscent of imagery associated with slavery, leading to a redesign. The obverse of the coin features a depiction of Liberty facing right with flowing hair.
Rarity and Mintage The 1793 Chain, AMERI., BN is incredibly rare due to its limited mintage and the fact that it was part of the first batch of Chain Cents produced. Out of the total mintage of 36,103 Chain Cents, only a small fraction bore the AMERI. abbreviation before the full name "AMERICA" was used. This makes the AMERI. variation particularly desirable among collectors.
PCGS Certification and Details According to PCGS CoinFacts, the certification number for this coin is PCGS #1340. It is designated as BN (Brown), indicating its original copper color has mellowed into a brown patina over time, which is common in ancient copper coins.
Value and Auction Records The value of the 1793 1C Chain, AMERI., BN is determined by its condition, provenance, and market demand. Coins of this type have fetched impressive prices at auction. For example, a well-preserved Chain, AMERI. cent can command prices exceeding hundreds of thousands of dollars. A rare coin in this series was once sold for approximately $1 million, highlighting the extreme rarity and desirability of this piece in higher grades. Auction sites have recorded exceptional sales which reflect its stature as a premium collectible.
Notable Sales Various auction sites have noted record sales of this specific Chain Cent variation due to its rarity and historical importance. The coin continues to captivate collectors and investors, maintaining high interest whenever it appears at auction.
Conclusion The 1793 1C Chain, AMERI., BN is more than just a coin; it is a slice of early American history. Its origin, design, and the controversies surrounding it make it a fascinating piece for numismatists. Moreover, its rarity and intrinsic historical value ensure it remains a centerpiece in any significant numismatic collection. Collectors should be prepared for a competitive market, as owning such a piece is a rare opportunity to connect with the foundational era of American coinage.
