1823/2 1C, BN
The 1823/2 1C Large Cent is a unique and historically significant coin in American numismatics. Known for its distinct overdate, where the 3 in 1823 is punched over the 2, this coin captures the craftsmanship and mint practices of the early 19th century. Below, you'll find a detailed description of its rarity, mintage, value, and historical significance, which appeals to collectors and historians alike.
Mint and Mintage Details
Mint Location : Philadelphia Mintage : Specific mintage figures are challenging to determine precisely due to the coining practices of the time, but estimates suggest approximately 2,800,000 1823 Large Cents were produced, including the 1823/2 overdate. PCGS Number : 1630
Rarity and Collectibility
The 1823/2 1C BN is considered a rare coin in numismatic circles. While the overall mintage of 1823 cents was relatively typical for the era, the overdate variety significantly enhances its allure. Overdates were not uncommon during this period due to economic pressures and the necessity of reusing old dies, but the 1823/2 stands out due to its distinctiveness and the collector interest it garners.
Value and Market Performance
The value of the 1823/2 1C, BN can vary significantly based on condition, with finer examples commanding substantial premiums. For example, circulated specimens can fetch hundreds to thousands of dollars, while well-preserved uncirculated or high-grade coins can move into the tens of thousands at auctions. The coin's performance at auction has demonstrated steady interest, with notable sales such as high-grade specimens realizing prices over $20,000. Condition is a crucial determinant in value, especially given the difficulty of finding well-preserved examples due to the age and circulation wear. Collectors typically seek coins with sharp details of the overdate for the best visual and historical impact.
Historical Context and Numismatic Significance
Produced at the Philadelphia Mint, the 1823/2 Large Cent provides insight into the early days of U.S. coinage when technology was limited, and imperfections like overdates were relatively frequent. For numismatists, these imperfections are a window into the processes and challenges of the mint during that era. The coin reflects the early 1820s economic conditions in America and highlights how the young nation managed its coinage requirements. Collectors value this coin not only for its rarity but also for the story it tells about the era's mint operations.
Auction Insights and Recent Trends
Numismatic auctions frequently feature the 1823/2 Large Cent, and its presence in premier auctions like those hosted by major auction houses underscores its desirability. As a result, it remains a focal point for serious collectors aiming to complete a set of Large Cents or those specializing in overdate varieties. Collectors and investors alike keep a keen eye on the market for these types of coins, partly because their historical importance and rarity can contribute to long-term value appreciation. The coin's appeal is broad, extending from history enthusiasts to hardcore numismatists who appreciate the detailed background and production quirks of early American coins.
In summary, the 1823/2 1C BN (Regular Strike) Large Cent is a prized piece in any numismatic collection due to its rarity, historical significance, and distinct overdate feature. The intrigue surrounding these coins continues to attract collectors and investors, ensuring their vitality in the numismatics market for years to come.
