Ron Guth: Several varieties of the 1793 Chain Cent exist. The "Periods" variety has distinct periods after LIBERTY and the date. Since neither of these were abbreviations, the presence of the periods is puzzling.
This is the scarcest major variety of the 1793 Chain Cents. As of July 2011, PCGS had certified only 70 examples, with only one (a single PCGS MS65BN) in Mint State. Reflective of that fact, no Red-Brown or Red examples are known.
The 1793 Periods Chain Cent is under considerable demand from die variety collectors, major variety collectors, type collectors, and first-year-of-issue collectors. The fascinating chain design on the reverse is another attraction.
George W. Merritt Collection - Édouard Frossard 1/1879:79 - Édouard Frossard - Lorin G. Parmelee Collection - New York Coin & Stamp Co. 6/1890:668 - Harlan P. Smith Collection - Virgil M. Brand Collection and Estate, sold privately on 2/7/1941 - B.G. Johnson (St. Louis Stamp & Coin Co., sold privately on 2/18/1943 - Abe Kosoff - Oscar J. Pearl Collection - Numismatic Gallery 1944 FPL, lot 3 - T. James Clarke Collection, sold privately in 10/1954 - R.E. Naftzger, Jr. Collection, sold privately on 2/23/1992 - Eric Streiner - Jay Parrino (The Mint) - Heritage 1/2015:4011, $2,350,000
Plated in Walter Breen's Encyclopedia of United States Large Cents 1793-1814 for the S-4 variety.
W. Elliot Woodward 10/1864:603 - Joseph Zanoni - Thomas Cleneay privately - S.H. & Henry Chapman 12/1890:1795 - Charles Steigerwalt - John G. Mills - S.H. & Henry Chapman 4/1904:1227 - George H. Earle, Jr. Collection - Henry Chapman 6/1912:3355 - Henry Chapman - Clarence S. Bement - Henry Chapman 5/1916:286 - Col. James W. Ellsworth - Wayte Raymond, 1923 - William C. Atwater - B. Max Mehl 6/1946:10 - Louis E. Eliasberg, Sr. Collection - Bowers & Merena's 5/1996:487, $132,000 - Spectrum Numismatics - American Numismatic Rarities 7/2004:6, $391,000 - Heritage 1/2012:3020, $1,380,000
Daniel F. Howorth - Lyman H. Low 9/1910:171 - Charles R. Mathewson 1955 - Copley Coin Company - Dr. William H. Sheldon - Dorothy I. Paschal - New Netherlands 12/1957:887 - Stack's 3/2006:3563, $149,500 - Heritage 8/2012:5019, $211,500