1832 1C Medium Letters, BN
The 1832 Classic Head Large Cent with Medium Letters (BN, Brown) is an intriguing piece of early American numismatic history. Minted in Philadelphia, this coin is known for its classic design by Chief Engraver William Kneass, featuring Liberty's head on the obverse and a wreath on the reverse. This particular variant with Medium Letters is notably rarer than those with larger lettering. In terms of mintage, the 1832 1C was produced with a total of approximately 2,362,000 coins. However, due to the passage of time and natural attrition, far fewer exist today, especially in higher grades. The Medium Letters variant stands out among its peers, primarily due to its distinct aesthetic qualities and the relative scarcity compared to its counterparts. The PCGS (Professional Coin Grading Service) assigns the coin a specific number on their registry, which is #1690.
From a numismatic perspective, the Classic Head series, with the 1832 date, represents a dynamic time in American coinage. It reflects the transitional period between earlier and later styles of U.S. coins with a simpler yet elegant representation of Liberty. The period also marks significant growth in the country's economy and commerce, making these coins an essential part of circulating currency at the time. In terms of market value, the condition of the 1832 1C Medium Letters impacts its pricing considerably. Coins in lower grades like VG (Very Good) and F (Fine) typically fetch more modest sums, often in the range of $50 to $150. However, those in higher mint states, such as MS60 or above, can command prices well into the thousands. For instance, a specimen graded as MS65 was recorded in recent auction sales reaching upwards of $10,000, reflecting the rarity and demand for higher-grade examples.
Collectors and investors recognize these coins for both their historical value and investment potential. A notable auction sale further underscored this, with a piece realizing high prices when sold at a premier auction house, demonstrating the demand and desire for superior examples in the numismatic community. Online resources such as coinfacts and auction sites provide additional insights and recent sales data, offering a valuable tool for collectors looking to assess the market and identify desirable pieces. The combination of historical significance, limited supply, and collector demand assures the 1832 Classic Head Large Cent a continuous appeal among numismatists and investors alike, cementing its status as a prized piece in American coin collections.
