1823 1C, BN
The 1823 1C, BN (Regular Strike) Large Cent is a coin of significant historical and numismatic interest. This particular coin falls within the Matron Head series, which was minted from 1816 to 1839. The 1823 issue is notably rare, with a unique charm that captures the interest of collectors and investors alike.
Mint and Mintage
This coin was produced at the Philadelphia Mint, which was the only U.S. mint operating during this period. The Large Cents of 1823 are characterized by their low mintage and rarity. According to PCGS CoinFacts, the total mintage for this year was approximately 1,345,000. However, due to challenges in coin collection during its time, a far smaller number is believed to have survived in any collectible condition.
PCGS Number
For those who track coins through the PCGS database, the 1823 1C, BN can be identified with the PCGS coin number 1627. This reference is crucial for collectors seeking to verify authenticity and value.
Rarity and Numismatic Significance
This coin's rarity stems from several factors, including its low mintage and the limited number of specimens that have withstood the test of time. Many large cents from this era were melted down or lost, and the 1823 1C is no exception. Its rarity makes it a sought-after piece among collectors focused on early American copper coins.
Market Performance and Value
In terms of market value, the 1823 1C, BN can fetch a significant price at auction, particularly if the specimen is in high-grade condition. Prices can range dramatically based on the coin's grade as determined by meticulous grading services like PCGS or NGC.
Good (G-4) Condition:
In this grade, the coin may show significant wear but is identifiable. Values often start around the low four figures given its rarity.
Fine (F-12) to Very Fine (VF-20):
In these middle grade conditions, prices can increase significantly due to improved detail and appeal. They can range from several thousand dollars or more, depending on demand.
Extremely Fine (EF-40) or higher:
Coins that survive in such high grades are exceedingly rare and can command premium prices, often finding their way to prestigious auctions where they can achieve prices well into the five figures or more.
Notable Sales
The auction history of the 1823 1C, BN highlights its value and desirability in the numismatic world. While specific sales figures vary based on the coin's condition at the time of sale, it is not uncommon for high-grade examples to surpass previous records, demonstrating the coin's persistent popularity.
Historical Context
From a historical perspective, the 1823 1C, BN symbolized the economic transitions of early 19th-century America. Large Cents like this one played a pivotal role in everyday transactions, providing insight into an era when the United States was still shaping its identity. Collectors prize the 1823 Large Cent not only for its value but also for the story it tells about early American minting practices, coin circulation, and preservation challenges. The "BN" designation stands for 'Brown,' a term used to describe the coin's natural toning as copper coins often assume a brown hue over time. In summary, the 1823 1C, BN Large Cent is a numismatic gem, rich in history and revered among collectors for its rarity and the exquisite craftsmanship it represents from early U.S. minting endeavors. Its market value continues to reflect its status as a true collector's piece, with auction prices celebrating the legacy of this rare early American coin.
