1838 1C, BN (Proof)
The 1838 1C BN Proof, commonly referred to as the 1838 Braided Hair Large Cent in Brown Proof condition, is an esteemed piece of numismatic history that encapsulates the essence of early American coinage. Minted at the Philadelphia Mint, this coin is pivotal due to its transitional design and scarcity. It represents the Braided Hair design by Christian Gobrecht, featuring Liberty with braided hair, a significant artistic evolution from the prior Matron Head design.
With a mintage believed to be fewer than 100 pieces, the 1838 1C proof exemplifies rarity. This low mintage makes it particularly coveted by collectors of early American coins and specialists in large cents. The Proof Brown designation further enhances its appeal, referring to the coin’s finish with muted brown toning, rather than the brighter red finish found on some other proof coins.
This piece holds a blend of historic and artistic value as it marked early experimentation with proof coins, which were initially struck for collectors and presentation purposes rather than general circulation. As such, high-grade specimens are exceedingly rare and command premium prices in the numismatic market. Over the years, notable sales of the 1838 1C BN Proof have underscored its value.
For instance, high-grade examples, particularly those at Proof 65 Brown or higher, have fetched tens of thousands of dollars at auction. Collectors have observed sales via major auction houses where well-preserved coins have crossed the auction block at impressive prices, often exceeding $30,000, depending on their condition and provenance. According to PCGS Coin Facts, the 1838 1C BN Proof holds the catalog number PCGS #1811.
The meticulous craftsmanship and the unique history make it a centerpiece for any advanced collection of U.S. coinage. Numismatists treasure the 1838 1C Proof for its role in the broader narrative of U.S. Mint practices and its representation of 19th-century American artistry.
The coin's condition, eye appeal, and provenance significantly influence its market value, highlighting the importance of certified grading by establishments like PCGS. In conclusion, the 1838 1C BN Proof is not merely a coin but a tangible piece of American history. Its exquisite design, historical significance, and scarcity ensure its standing as a valuable asset among collectors. The coin's desirability is reflected in its auction performances and as part of elite collectors' portfolios, showcasing an enduring appreciation for this early proof emission in American numismatics.
