1837 1C Plain Cords, Medium Letters, BN
The 1837 1C Plain Cords, Medium Letters, BN (Braided Hair Large Cent) is a fascinating coin that holds a special place in American numismatic history. Struck during a pivotal year in the U.S. Minting process, the 1837 Large Cent reflects both the artistry and the technological advances of its time. This particular variety is notable for its plain cords in Miss Liberty's hair, along with medium letters, which set it apart from other variants.
Rarity and Mintage
The 1837 Large Cent falls into the category of a low-mintage coin, which enhances its allure among collectors. According to the Professional Coin Grading Service (PCGS), the mintage for the 1837 Large Cent was 5,558,300, a relatively modest number compared to other coins of the era. Its rarity is further underscored by surviving examples, as many coins have been lost or worn beyond recognition over the years, making well-preserved specimens particularly valuable.
Numismatic Significance and History
Numismatists value the 1837 1C Plain Cords, Medium Letters, BN for its historical context. The coin was minted at the Philadelphia Mint during a period when the United States was experiencing significant economic changes. This was the year President Andrew Jackson completed his second term, and the nation was on the brink of the Panic of 1837, a major financial crisis. The coin’s design, part of the Coronet Head series, was crafted by Chief Engraver Christian Gobrecht, showcasing Liberty with her hair tied with plain cords. This version was short-lived, adding another layer of intrigue for collectors.
Current Market Value and Sales Data
The 1837 1C Varieties have experienced varied interest in the collector's market. Coins in Good to Very Fine conditions often sell for modest sums, typically ranging from $30 to $100. However, those in higher grades such as Extremely Fine or Mint State can fetch significantly higher prices. For example, a well-preserved MS64 example might reach values upwards of $2,000 to $4,000 at auction. Notable sales include a PCGS-graded MS65 that achieved around $5,000, exemplifying the coin's investment potential.
PCGS Information
Mint: Philadelphia Mintage: 5,558,300 PCGS Number: 1735 Collecting the 1837 1C Plain Cords, Medium Letters, BN requires a careful eye, particularly due to the possibility of subtle wear and toning that can affect the coin's grade and perceived beauty. Establishing authenticity and verifying condition through reliable grading services like PCGS are essential practices for anyone considering entering the market for this historical numismatic treasure. The coin stands as a poignant reminder of America's rich history and the art of coin minting in the early 19th century, a perfect centerpiece for any curated collection of U.S. Large Cents.
