1801 1C 1/000, BN (Regular Strike)

The 1801 Draped Bust Large Cent is a captivating coin for numismatists due to its rich history and relative rarity. Minted at the Philadelphia Mint, the 1801 1C 1/000 variety is part of the Draped Bust series that ran from 1796 to 1807. This particular coin is distinct due to the prominent die error known as "1/000", which appears in the denominator of the fraction on the reverse side, mistakenly struck as "1/000" instead of the expected "1/100". This error adds a unique aspect to its desirability among collectors. **Historical Context and Mintage:** The Draped Bust design was created by engraver Robert Scot and depicts Liberty with flowing hair, with a bust that would become iconic in early American coinage. The reverse features an olive wreath and the denomination fraction. In the early 1800s, numismatic precision was developing, and the 1801 1/000 error reflects this era's evolving minting processes. Historically, this coin fit within a period of economic growth and expanding commerce in the young United States. The mintage for all 1801 Large Cents was approximately 1,362,837, although only a fraction of these are of the 1/000 variety. Thus, it remains a sought-after piece for collectors due to its error and historical significance. **Collectibility and Value:** Numismatists value the 1801 1C 1/000 not only for its rarity but also for the story it tells about early American minting errors. The relative scarcity of the 1/000 error variety means that it generally commands a premium in the market. The PCGS (Professional Coin Grading Service) Coin Facts Number for the 1801 1/000 variety is 1443, which collectors often reference to ascertain authenticity and quality. Values for coins in the 1801 Draped Bust series can vary greatly based on condition and provenance. For instance, coins graded as BN (Brown) are typically valued more if they display fewer wear marks and more legible details. Auction results for this coin have shown significant variations, with prices ranging based on condition, provenance, and market demand at the time of sale. **Market Examples:** In recent auctions, examples of 1801 1/000 Large Cents in lower grades have realized substantial figures. A Good to Very Good (VG) grade coin might sell for a few hundred dollars, while higher-grade specimens—such as those graded Fine (F) or Very Fine (VF)—might reach several thousand dollars, depending on the market conditions and collector interest. While specific sales data vary, the overall trend indicates a strong demand for this variety, especially among collectors focusing on error coins or early American copper coinage. Collectors often look to auctions for these coins since they provide a transparent platform for buying and selling rare pieces. Understanding the 1801 1/000's place in coin collecting history requires delving into each unique aspect of the piece, making it a fascinating study for any numismatist interested in early American coinage. This coin not only reflects the meticulous craft of early Mint workers but also stands as a testament to the evolving nature of the American economy and its representation in currency.