1799 1C, BN
The 1799 1C Draped Bust Cent is one of the most celebrated rarities in American numismatics, a testament to the early history of U.S. coinage. Produced at the Philadelphia Mint, the 1799 Draped Bust Cent is an artifact of a time when the United States was still defining its monetary identity.
Mint and Mintage : The 1799 1C was minted at the Philadelphia Mint, the sole mint facility operating in the United States during the late 18th century. Its low mintage heightens its desirability; while precise mintage numbers are unknown due to the lack of detailed records for this early period, it is widely accepted that fewer than 1,000 examples were originally struck. The survival rate is extremely low, with fewer than a few dozen specimens known to exist today.
Rarity : This coin's rarity is underlined by the fact that the PCGS Coin Facts lists it under the catalog number 1443. The scarcity of the 1799 Draped Bust Cent is associated not only with its low mintage but with the survival challenges faced over two centuries. Many coins from this era were recirculated to the point of destruction or disappearance.
Design Features : The obverse of the coin displays the Draped Bust of Liberty, modeled after a portrait by Gilbert Stuart, and engraved by Robert Scot. The reverse features an agricultural-themed wreath, encircling the denomination “ONE CENT.” Notably, the 1799 cent has the “1799/8” overdate, where a “9” was impressed over an “8” in the date, adding another layer of intrigue for collectors.
Numismatic Significance : From a numismatist's perspective, the coin represents not just a tangible piece of early U.S. history, but also the evolving craftsmanship in American minting. With variable die states and the potential existence of multiple die pairs, each coin could possess unique characteristics. This further amplifies its allure among collectors, historians, and investors alike.
Value and Sales : Due to its rarity and historical significance, the 1799 Draped Bust Cent commands significant value, depending on its condition. Well-documented auction sales serve as markers for its market performance. A particularly notable sale occurred where a 1799 1C, graded Fine-12 by PCGS, sold for an impressive sum reflecting its numismatic esteem. More worn or corroded examples nevertheless remain highly sought after, often selling for tens of thousands of dollars in auction settings, indicating strong collector interest even in lower-grade coins. The market for the 1799 1C is consistently active, with collectors and investors seeking to secure one of the few surviving examples. This demand often highlights the dynamic nature of rare coin markets, driven by historical significance and the coin’s elusive nature. In summary, the 1799 Draped Bust Cent is more than just a rare coin; it’s a piece of Americana that embodies the early struggles and achievements of the U.S. Mint. Its place in numismatic collections is a testament to its enduring legacy and the historical narrative it carries.
