1823 1C Private Restrike, BN
The 1823 1C Private Restrike, BN (Regular Strike) is a fascinating piece in the numismatic community, notable for its rarity and historical intrigue. This coin is an unofficial minting and is often classified within the realm of fantasy pieces and private restrikes. It was never intended for circulation and holds significant appeal among collectors, especially those with an interest in unique Americana.
History and Background
The original 1823 large cent was never struck for circulation, and thus any 1823-dated cents encountered today are private restrikes. These restrikes were primarily the work of numismatists and engravers in the 19th century who capitalized on periods when official mint records were sparse. The intent was to fill voids or varieties needed by collectors, albeit through unofficial means. These private restrikes are often associated with engraver James Longacre, although no official mint records confirm such production at the Philadelphia Mint, the only operating U.S. Mint at that time. The restrikes emerged at a time when interest in coin collecting was burgeoning, leading to an increased demand for rare dates and varieties.
Rarity and Mintage
No official mintage numbers exist for the 1823 1C Private Restrike due to its unofficial status. These pieces are quite rare and are seldom seen in the market. Their rarity makes them particularly appealing to serious numismatists. It's believed that only a handful were struck, and their existence is more a result of private minting efforts than a reflection of governmental production.
Collectability and Value
The value of the 1823 1C Private Restrike, BN fluctuates significantly based on its condition and historical allure. According to PCGS (Professional Coin Grading Service), these coins often realize substantial sums at auction due to their rarity and unique place within U.S. numismatic history. Collectors value both the story behind the coin as much as the physical piece itself. Auction records show varied sale prices, typically driven by the coin’s grade and provenance. For example, pieces graded at higher levels by PCGS have fetched hundreds to thousands of dollars in leading auctions. The absence of an official mintage and highly selective appearance in the market further drives collector interest and value.
PCGS Information
Mint:
Philadelphia (Unofficial Minting)
PCGS Number:
81627
Market Performance
These coins, when available, are predominantly featured in boutique auctions appealing to specialized collectors. The coin’s unique origin story is a significant factor in its appeal, and instances of sale become noteworthy numismatic events. Due to their rarity, they are not regularly traded, keeping demand consistently high.
Conclusion
The 1823 1C Private Restrike, BN represents a unique blend of historical curiosity and numismatic intrigue, offering collectors a glimpse into a period of American numismatics characterized by strong collector demand and creative solutions to supply it. Without official validation, these coins inhabit a space where myth and history meet, creating an alluring challenge for those passionate about U.S. coinage.
