1802 1C 1/000, BN
The 1802 Draped Bust Large Cent, labeled as 1802 1C 1/000 BN, is a fascinating collector's item that holds great historical and numismatic significance. This coin, part of the Draped Bust series, is well-regarded for its distinctive features and contribution to early American coinage. The coin's design features a draped bust of Liberty on the obverse and a wreath surrounding the denomination on the reverse, a classic representation from this era.
Rarity and Mintage : The 1802 Draped Bust Large Cent is noted for its rarity, primarily due to its low mintage and the unique 1/000 error on the reverse. The total mintage for all Large Cents in 1802 was approximately 3,435,100, but the exact number for the 1/000 error variant is unknown. These coins were struck at the Philadelphia Mint, which was the only mint operating in the United States at that time.
PCGS Details and Classification : According to PCGS CoinFacts, the coin is cataloged under the number 1460. The grading by PCGS recognizes several color variations including Brown (BN), which is common due to the coin's age and composition.
Value and Market Performance : In terms of value, the 1802 1C 1/000 BN has shown an increase over the years, particularly for coins in higher grades with exceptional details and luster. The value can widely vary based on the coin's condition; circulated pieces in lower grades may be more accessible to collectors with modest budgets, whereas well-preserved examples can reach significant figures. For instance, documented auction sales reflect that certain well-graded examples have fetched amounts ranging from a few thousand dollars to over $10,000 in premier auctions.
Historical Significance : From a numismatic viewpoint, the 1802 Draped Bust Large Cent captures a significant period in early American history. The production at the Philadelphia Mint represented the young nation's efforts to establish a self-sufficient monetary system. This particular coin, with its 1/000 reverse error, exemplifies the challenges faced in quality control during coin strikes at the time, adding to its desirability among numismatists.
Market Interest : Interest in the 1802 Large Cent, particularly the 1/000 variant, continues to draw attention due to its rarity and the intriguing story behind its production. Collectors value it not only for its historical context but also for its visual appeal and the mystery surrounding its scarcity.
Additional Information : Coin enthusiasts often explore resources such as coinfacts.com to delve deeper into the specifics of its varieties and historical production data. The 1802 Draped Bust Large Cent remains a cherished piece for those interested in early American numismatics, representing the evolution of U.S. currency and the artistry of the era. Collectors aiming to acquire such historical pieces often turn to reputable auction houses and numismatic organizations for authentication and valuation.
