1795 1C Reeded Edge, BN
Description and History
The 1795 1C Reeded Edge Large Cent is an exceptionally rare and significant coin in American numismatics. This particular coin features a reeded edge, which sets it apart from the typical plain-edged large cents of the era. It holds a special place in the history of U.S. coinage due to its unique characteristics and limited known specimens.
Minting and Specifications
Mint Location : Philadelphia
Mintage : An estimated 38,000 coins were produced, but only a few examples with the reeded edge have been confirmed.
PCGS Number : The 1795 1C Reeded Edge, BN, is tracked with PCGS #1383.
Rarity and Value
The rarity of the 1795 1C Reeded Edge is underscored by its limited mintage and the few surviving specimens available today. It is one of the most coveted coins among large cent collectors due to its distinctive edge. In terms of value, this coin commands high prices at auctions due to its scarcity and historical value. For instance, the coin has fetched prices in excess of hundreds of thousands of dollars at major auctions. Recent sales provide evidence of its desirability, reflecting prices such as $600,000 for high-grade examples, emphasizing the competitive demand among collectors.
Historical Context
The reeded edge was an anomaly in the production of large cents, primarily used to prevent counterfeiting and differentiate from other contemporary coins. Most large cents from this era were struck with plain edges, making the reeded version an experimental strike. The transition to reeded edges and back to plain edges reflects the evolving techniques and minting practices of the early U.S. Mint, making this variant a testament to the Mint's experimenting period in its formative years.
Collector Insights
From a numismatist's perspective, owning a 1795 Reeded Edge Large Cent represents not just ownership of a rare coin but also a piece of American history. Its condition, provenance, and the intrigue of its manufacturing process contribute to its allure. Collectors who pursue this piece typically have a deep appreciation for the nuances of U.S. coinage and understand the significance of this experimental variation. Collectors and investors alike are drawn to this piece not only for its rarity but also for the story it tells about the early days of American minting, reflecting both innovation and the challenges the mint faced in producing currency for a new nation.
Notable Sales
One renowned sale saw the 1795 Reeded Edge Large Cent fetching around $600,000 at auction, a testament to its extraordinary status in the numismatic world. - Another sale reflected a similar high market value, with the coin achieving upwards of $400,000 in previous auctions, confirming its position as one of the most desirable pieces for historical and large cent collectors alike.
Conclusion The 1795 1C Reeded Edge Large Cent is more than just a rare coin; it is a centerpiece of numismatic study and collection, offering insight into the U.S. Mint's early practices and the sophistication of coin collectors today. Its rarity, combined with its historical significance, makes it an invaluable addition to any elite collection. Through insights drawn from auction sales and expert analysis, this coin continues to captivate numismatic enthusiasts worldwide.
