1795 1C Lettered Edge, BN
The 1795 1C Lettered Edge, BN (Regular Strike) is a fascinating coin that holds significant value among numismatists, not only for its historical context but also for its rarity and desirability among early American copper coins. This type of coin belongs to the Draped Bust Large Cent series, which marks an essential shift in the United States' early coinage designs. The coin was minted at the newly established U.S. Mint in Philadelphia, the only mint in operation at the time.
Mintage and Rarity The 1795 1C Draped Bust Large Cent, Lettered Edge, BN, has a total mintage of 2,323,353 coins. Despite this seemingly large number, surviving specimens are quite rare due to the vast amount that have been lost or damaged over the centuries. The Lettered Edge variant specifically is even harder to find compared to its Plain Edge counterpart, making it a significant target for collectors and investors alike. The natural wear and tear, along with the early melting of many copper coins, contribute to its scarcity today.
Value and Market Performance In terms of market value, the 1795 Draped Bust Large Cent with a Lettered Edge commands impressive prices at auction. Prices can vary substantially based on the coin's condition, provenance, and appearance, with superior-grade pieces fetching higher premiums. For instance, circulated examples may range from several hundred to several thousand dollars in auctions and private sales. Uncirculated or higher-grade examples can reach prices well into five-figure territory. A notable example includes a high-grade coin that achieved a sales price exceeding $40,000 during a recent auction. Lower-grade but still collectible pieces often trade hands in the range of $1,500 to $5,000, highlighting both their demand and rarity.
Historical Significance From an historical standpoint, the 1795 1C Lettered Edge Large Cent marks the beginning of the Draped Bust design introduction, which was an upgrade from the previous Liberty Cap cent design. This change reflected the evolving aesthetic tastes and political sentiments of the early American republic.
Collector's Appeal The PCGS (Professional Coin Grading Service) assigns the number 1377 to this coin, which aids collectors in proper identification and cataloging. Collectors highly prize the Lettered Edge because of its distinctive feature that includes the inscription "ONE HUNDRED FOR A DOLLAR" inscribed along the edge of the coin—a detail that required additional effort and skill in minting, reflecting the craftsmanship of the time. The pursuit of high-quality specimens becomes a thrilling challenge amongst enthusiasts due to the limited availability and the variability in preservation conditions. Collectors often seek certified coins by respected grading services to ensure authenticity and condition, which further increases their market value.
Conclusion Numismatists value the 1795 1C Draped Bust Large Cent, Lettered Edge, BN, for its historical resonance, artistic design, and rarity. As a crucial piece of America's numismatic heritage, it stands as an impressive representation of early U.S. minting techniques and aesthetic evolution. Its appreciation among collectors continues to grow, driven by both its scarcity and its place within the rich tapestry of American history.
