A Brief Review Of U.S. Large Cents: 1793-1814

The cent was the first coin the United States Mint produced for mass circulation in 1793. In those days, America’s “pennies” were large copper coins nearly the size and weight of a modern-day half dollar. The first of these coins, known by numismatists as large cents, is called the Chain AMERI. Cent, and it carries a Flowing Hair portrait of Miss Liberty on the obverse and the words “ONE CENT 1/100” encircled by a chain, with that surrounded by the inscription “UNITED STATES OF AMERI.” It is believed that chief coiner of the first United States Mint Henry Voigt designed the Flowing Hair Cent.

As one of the earliest coins struck by the United States Mint, and one existing in small quantities to boot, the 1793 Chain AMERI. Cent commands big prices. Even corroded, well-worn specimens trading for more than $3,000 to $5,000, and solid specimens in G4 go for about $10,000. The most valuable specimen ever sold was graded PCGS MS64+BN and fetched $1,500,000 at a 2019 Heritage Auctions sale. Talk about a pretty penny, huh?

The Flowing Hair Cent was modified, and some variations show Miss Liberty bearing a cap on pole with the reverse festooned by a wreath. All Flowing Hair Cents are scarce, valuable coins worth several hundred to a few thousand dollars apiece or more in circulated grades.

The Flowing Hair design was replaced with the Draped Bust Cent in 1796. Draped Bust Cents were designed by Chief Engraver of the United States Mint Robert Scot and remained in production until 1807. More common issues retail for anywhere from $150 to $500 and up, depending on date and grade. Two of the rarest dates are the 1799 and 1804 Cents, with prices for those two coins in a grade of G4 fetching approximately $7,500 and $2,500, respectively.

The Classic Head Cent came along in 1808, with its design by John Reich, who worked as an assistant to Chief Engraver Robert Scot. The Classic Head Cents continued through 1814, with none particularly rare but all relatively scarce. A typical example in G4 might sell for $150 to $200, with specimens in better grades notching much higher prices. A handful of intriguing varieties, such as the 1810/09 and 1811/0 overdates, 1810 restrike, and 1814 variants with either a “Plain 4” or “Crosslet 4” feature in the date keep ardent large cent enthusiasts busy.