1796 1C LIHERTY, BN
The 1796 1C LIHERTY, BN Cent is a fascinating and rare coin from the early era of American numismatics. Due to a die engraving error, this coin features "LIHERTY" instead of the correct spelling "LIBERTY" on the obverse, along with the date 1796. This error makes it a highly sought-after piece for collectors and historians alike.
Mint and Mintage : This coin was produced in the Philadelphia Mint, which was the sole minting facility in the United States at the time. The mintage of 1796 Draped Bust Cents is estimated at 109,825. However, the exact number of "LIHERTY" error coins struck is unknown, contributing to their rarity.
Historical Background : The 1796 Draped Bust Cent represents an important time in American coinage. It was designed by Robert Scot and is part of the Draped Bust series, which followed the Chain and Wreath designs of the early 1790s. The adaptation of the Draped Bust design marked an evolution in aesthetic complexity and artistry.
Numismatic Significance : This particular error coin, marked by the misspelling, holds significant value and intrigue in the numismatic community due to its rarity and the circumstances surrounding its production. Mistakes in minting, especially from such an early period, offer collectors a glimpse into the nascent stages of the U.S. Mint's operations.
PCGS Certification : The Professional Coin Grading Service has recognized the importance and rarity of the 1796 LIHERTY Cent, giving it the PCGS number 1413. The coin is graded in Brown (BN) condition as it has developed a patina over the centuries, typical for copper coins of that era.
Market Value and Sales : In recent auctions, the 1796 LIHERTY Cent has shown impressive sales figures, realizing significant amounts depending on condition and provenance. For example, variations in price can be attributed to the coin's grade, with higher-grade examples fetching higher prices. Some records show the coin selling for several thousand dollars, with exceptional pieces reaching considerably higher prices in major auction houses. Collecting this coin provides not only a tangible connection to American history but also an appreciation for the complexities and challenges of early minting processes. The 1796 LIHERTY Cent continues to captivate collectors due to its scarcity, historical significance, and the intriguing story behind its creation. These factors make it a true gem for those passionate about early American numismatics.