1793 1C Chain, Periods, BN (Special Strike)
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1793 1C Chain, Periods, BN (Special Strike) Numismatic Insight The 1793 1C Chain Cent with Periods, BN (Brown), is a highly sought-after coin among collectors, particularly due to its historical significance as the first official one-cent coin minted by the United States. As part of the initial series produced by the newly established U.S. Mint in Philadelphia, the Chain Cent remains a captivating piece of numismatic history.
Mint Details
Mint : Philadelphia
Mintage : Estimated production is approximately 36,103,
PCGS #: 507167
Rarity and Significance : The 1793 Chain Cent is particularly notable for its design, featuring a chain of 15 links on the reverse intended to symbolize the unity of the original 13 colonies. However, the design was quickly criticized for its perceived harshness and replaced within the same year. The version with periods after "LIBERTY" on the obverse adds an extra layer of intrigue for collectors, as these periods were not present in all varieties, making it an attribute of curiosity and distinction among numismatists. These coins are exceedingly rare, with special strikes (often considered pattern versions) being even scarcer. The BN designation refers to the coin's brown coloration from oxidation over time, a typical transition as copper oxidizes.
Sales and Value : From a value perspective, the 1793 1C Chain, Periods, BN has achieved impressive figures at auction. For instance, specimens in higher grades can fetch substantial amounts, reflecting their rarity and desirability in the collecting community. - In recent years, examples of this coin have been sold for hundreds of thousands of dollars, depending on their condition, provenance, and specific characteristics. An auction could see prices anywhere from $500,000 to over $1 million for premium-grade specimens. - Notable sales include specific auctions where high-grade uncirculated examples realized remarkable prices due to their exceptional state and historical importance. Given these factors, collectors often seek coins certified by trusted grading services, such as PCGS, to authenticate their detail and condition.
Historical Context and Appeal : The 1793 Chain Cent not only represents a cornerstone of early American coinage but also provides a visual representation of the nation's infancy. For numismatists, this coin offers a tangible connection to the post-Revolutionary War era, a period fraught with the challenges of establishing a unified national identity and monetary system. For those investing or collecting with a historical focus, the story behind the Chain Cent series—from its controversial design to its swift redesign—offers a narrative rich with educational opportunity, enhancing its allure.
Collector's Insight : From a numismatic perspective, the 1793 1C Chain, Periods, BN is more than a piece of metal; it's a testament to the early struggles and eventual success of the fledgling United States Mint. Collectors treasure it not only for its rarity and artistic value but also for its embodiment of American resilience and identity. With its limited mintage and the challenges associated with its preservation due to the copper's susceptibility to environmental factors, ownership of this coin is regarded as a prestigious accomplishment among numismatists and historians alike.
