1793 1C Chain, America, BN FR2BN Certification #16075787, PCGS #1341

CoinFacts Details

Owner's Comments

S-2, R4 . Heritage Auctions FUN 2018: The first copper coins struck at the fledgling U.S. Mint in Philadelphia were the Chain cents, beginning with Sheldon-1, the famous Chain AMERI. cent. Using the same obverse die and a new reverse die with AMERICA spelled in full, the Sheldon-2 cents, including this example, were struck next. These were followed by a small number of Sheldon NC-1 cents, a large number of Sheldon-3 cents, and finally, the Sheldon-4 Periods cents that had a small period following the date and LIBERTY. In his Large Cent Encyclopedia, Walter Breen suggested that the first two varieties were delivered on March 1, 1793. Although there is no proof, current rarity ratings support his hypothesis. If current rarity ratings are proportional to the number of coins struck, the mintage for this variety was about 3,400 coins. Obverse diagnostics based on E relative to hairline. Fraction bar on reverse is high, distant from small numerals.

Expert Comments

David Hall

The incredible SP67 is from the fabulous large cent collection of the late Ted Naftzger, the greatest large cent collection of all-time by far. This amazing coin has semi-prooflike surfaces and is virtually perfect. Large cent affcianados refer to this amazing specimen as "THE coin."

Gordon Wrubel

Chain cents were the first mass produced, regular issue coins struck at the fledgling US Mint. A total of 36,103 were coined from February 27 to March 12, 1793. The Liberty Head obverse and Chain reverse were severely criticized by many observers of the day. The acute need for a standard coinage, however, assured wide circulation through all fifteen States at the time. Chain cents can exist in high Mint State grades, perhaps saved for posterity as first year issues. But most survivors are lower grade. In the lowest grades, the date and legends are sometimes worn to the point where little more than the Chain and some of the letters of "ONE CENT" within it are distinguishable. This makes variety attribution extremely difficult, if not impossible, in cases where just a shadow of the Chain exists.

Quickfinder Notes: AMERICA reverse varieties include Sheldon numbers 2, NC-1, 3 and 4. Well worn can be attributed even if most or all of the letters of AMERICA are missing. The baseline "C" in "CENT" will be a little ABOVE the baseline of the adjacent E. If the first A in AMERICA is distinguishable, it will be in the 7:30 position. On the other reverse die used on Chain cents, the Sheldon 1, "AMERI.", the baseline of the C in CENT is BELOW the baseline of the adjacent E. If the A of AMERI is distinguishable, it will be in the 8:00 position.

PCGS #

1341

Designer

Attributed to Henry Voight

Edge

Bars and Vines

Diameter

27.00 millimeters

Weight

13.48 grams

Mintage

36103

Metal

Copper

Pop Higher

422

Pop Lower

Region

The United States of America

Price Guide

PCGS Population

Auctions - PCGS Graded

Auctions - NGC Graded

Rarity and Survival Estimates Learn More

Grades	Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.	Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.	Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.	Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	625	R-5.7	3 / 3	3 / 3
All Grades	6	R-9.7	3 / 3	3 / 3
60 or Better	1	R-10.0	1 / 3 TIE	1 / 3 TIE

Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.
65 or Better	625
All Grades	6
60 or Better	1

Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.
65 or Better	R-5.7
All Grades	R-9.7
60 or Better	R-10.0

Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.
65 or Better	3 / 3
All Grades	3 / 3
60 or Better	1 / 3 TIE

Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	3 / 3
All Grades	3 / 3
60 or Better	1 / 3 TIE

Condition Census Learn More

Pos	Grade	Pedigree and History
1	MS65BN PCGS grade	S-2. W.S. Lincoln & Son, 8/1891 - Benjamin H. Collins, 1/1919 - Dr. Henry W. Beckwith - S.H. Chapman 4/1923:1, $430 - Henry Chapman - Dr. George P. French - B. Max Mehl's 1929 FPL, lot 1, $850 - J.C. Morgenthau 4/1933:2 - B. Max Mehl's personal collection - T. James Clarke - John H. Payne, 1953 - Dr. William H. Sheldon, 4/1972 - R.E. "Ted" Naftzger" Jr., 12/1986 - Herman Halpern - Stack's 3/1988:2 - Anthony Terranova - Andrew Lustig - Don Kagin, 11/1992 - Gilbert Steinber - Superior 9/1996:1560 - Anthony Terranova and Chris Victor-McCawley - Walter Husak - Superior 2/2001:2090 - American Numismatic Rarities 1/2005:69, $431,250
1	MS65BN estimated grade	S-3. Joseph Zanoni Collection - sold privately by Edward Cogan in 1867 - Thomas Cleneay Collection - S.H. & H. Chapman 12/1890 - 1794 - J.F. Anger - Arba Borden - Allison W. Jackman Collection - Henry Chapman 6/1918:685 - Hillyer Ryder Collection - purchased by Wayte Raymond, 5/1945 with the rest of the Ryder Collection - sold privately to Dr. William H. Sheldon in 1947 - purchased along with other coins from the Sheldon Collection, 4/1972 - R.E. "Ted" Naftzger Collection - sold to Stanley Kesselman 3/1980 as partial payment for the Garrett S-3 - David Akers “Auction ‘80” 8/1980:554 - Stack’s/Bowers 8/2012:11180, $747,500
3	MS64BN PCGS grade	H. W. Taffs - Glendining & Co. 11/1956:506 - Spink & Sons - New Netherlands 12/1957:880 - Floyd T. Starr Collection - Stack’s 6/1984:2 - Herman Halpern Collection, sold privately in 12/1986 - R. E. “Ted” Naftzger, Jr., sold privately in 2/1992 - Eric Streiner - Jay Parrino, sold privately in 4/1996 - Jack Wadlington Collection, sold privately in 6/2005 - Bob Grellman & Chris McCawley - Daniel W. Holmes Collection - Goldbergs 9/2009:3, $402,500 - Heritage 8/2014:5518, $411,250
3	MS64BN PCGS grade
3	MS64BN estimated grade

#1 MS65BN PCGS grade

S-2. W.S. Lincoln & Son, 8/1891 - Benjamin H. Collins, 1/1919 - Dr. Henry W. Beckwith - S.H. Chapman 4/1923:1, $430 - Henry Chapman - Dr. George P. French - B. Max Mehl's 1929 FPL, lot 1, $850 - J.C. Morgenthau 4/1933:2 - B. Max Mehl's personal collection - T. James Clarke - John H. Payne, 1953 - Dr. William H. Sheldon, 4/1972 - R.E. "Ted" Naftzger" Jr., 12/1986 - Herman Halpern - Stack's 3/1988:2 - Anthony Terranova - Andrew Lustig - Don Kagin, 11/1992 - Gilbert Steinber - Superior 9/1996:1560 - Anthony Terranova and Chris Victor-McCawley - Walter Husak - Superior 2/2001:2090 - American Numismatic Rarities 1/2005:69, $431,250

#1 MS65BN estimated grade

S-3. Joseph Zanoni Collection - sold privately by Edward Cogan in 1867 - Thomas Cleneay Collection - S.H. & H. Chapman 12/1890 - 1794 - J.F. Anger - Arba Borden - Allison W. Jackman Collection - Henry Chapman 6/1918:685 - Hillyer Ryder Collection - purchased by Wayte Raymond, 5/1945 with the rest of the Ryder Collection - sold privately to Dr. William H. Sheldon in 1947 - purchased along with other coins from the Sheldon Collection, 4/1972 - R.E. "Ted" Naftzger Collection - sold to Stanley Kesselman 3/1980 as partial payment for the Garrett S-3 - David Akers “Auction ‘80” 8/1980:554 - Stack’s/Bowers 8/2012:11180, $747,500

#3 MS64BN PCGS grade

H. W. Taffs - Glendining & Co. 11/1956:506 - Spink & Sons - New Netherlands 12/1957:880 - Floyd T. Starr Collection - Stack’s 6/1984:2 - Herman Halpern Collection, sold privately in 12/1986 - R. E. “Ted” Naftzger, Jr., sold privately in 2/1992 - Eric Streiner - Jay Parrino, sold privately in 4/1996 - Jack Wadlington Collection, sold privately in 6/2005 - Bob Grellman & Chris McCawley - Daniel W. Holmes Collection - Goldbergs 9/2009:3, $402,500 - Heritage 8/2014:5518, $411,250

#3 MS64BN PCGS grade

#3 MS64BN estimated grade