|Title||1793 Chain 1C S-1, AMERI., BN, MS|
|Service Catalog #||35432|
1793 1C Chain, AMERI., S-1, B-1, R.4, XF45 NGC. CAC. Breen Die State III. When Congress passed the Mint Act of April 2, 1792, authorized denominations ranged from the half cent to the eagle. Silver coins entered circulation in late 1794 due to unmet bond requirements stipulated in that legislation. The first gold coins appeared in the summer of 1795. Copper coins were the only production of the Philadelphia Mint for its first 19 months of operation from March 1793 through September 1794. Shortly after the Mint Act passed Congress, David Rittenhouse accepted President Washington's appointment as the Mint Director, and he immediately set about with preparations for the new facility. Copper and silver pattern coins were minted in 1792, although some of those pieces, such as the 1792 half dismes, were produced outside of the physical Mint building. After meeting the challenge of a copper supply, all was ready for production toward the end of the first quarter, 1793. Mint officers purchased more than 6,000 pounds of copper from October to December 1792, and that copper was refined to remove impurities. The Mint delivered 36,103 cents from March 1 through March 12, 1793, using four obverse dies and two reverse dies. Those first copper coins were the Chain cents, and a careful study of die states, or the changing condition of the dies through use, proves that the Chain AMERI. cents were the first ones produced at the end of February. Henry Voight was the chief coiner at the time, and worked with his staff to produce these coins. This intermediate die state example has a small obverse die bulge through the 1 of the date, and another small bulge on the reverse over the U in UNITED. Faint clash marks are noted below the bust. There is no evidence of a die crack or rim break at TATE. The smooth tan and chocolate-brown surfaces exhibit myriad handling marks, but no spots or corrosion. This exceptionally attractive Chain cent should garner spirited bidding. Our EAC grade VF30. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman @ $30.00; Eric P. Newman Numismatic Education Society.
Heritage Newman IX, November 2017, lot 15065, realized $132000. Images and description courtesy of Heritage Auctions.
|Image Collection||Eric P. Newman Collection, Part IX|