1793 Chain 1C Periods, BN MS65BN

CERTIFICATION#: -4849
PCGS#: 91341

Owner's Comments

PCGS grade.

Expert Comments

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.

P. Scott Rubin: The record auction price for a large cent was achieved at the Heritage January, 2012 FUN sale, when the 3rd finest Sheldon-4, 1793 Chain Cent with Periods after the date and LIBERTY sold for $1,380,000. This coin is graded MS-65 by PCGS became only the second large cent to sell for over one million dollars at auction. While this beautiful coin has now reached the mark of over a million dollars it is interesting to note at the same sale a PCGS AU-53 coin of the same Sheldon variety and a coin tied for 5th in this issue’s census sold for $161,000. This being said now let us compare the record breaking coin to the finest S-4 known, that coin is graded by PCGS as Specimen-67 and is in a class by itself as the only Specimen graded coin of the issue and an even finer example of this early U.S. Chain Cent issue. The price of this coin must now be considered in the value range that up to now have only been achieved by coins like the 1913 Liberty Head Nickel, the 1804 Dollar and Brasher Doubloons when they reached the auction block.

Diameter: 27.00 millimeters Designer: Attributed to Henry Voight Edge: Bars and Vines
Mintage: 36,103 Weight: 13.48 grams Metal Content: Copper
35
70,000
2
45+
115,000
50+
140,000
53+
165,000
55
190,000
3
55+
200,000
58
250,000
1
66
1
67
3,500,000

Rarity and Survival Estimates

Grades Survival Estimate Numismatic Rarity Relative Rarity by Type Relative Rarity by Series
All Grades 325 R-6.3 2 / 3 2 / 3
60 or Better 2 R-9.9 1 / 3 TIE 1 / 3 TIE
65 or Better 1 R-10.0 1 / 3 TIE 1 / 3 TIE

Condition Census

Pos Grade Thumbnail Pedigree and History
1 MS65BN PCGS grade  

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

2 AU58 PCGS grade

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

3 AU55 PCGS grade  
3 AU55 PCGS grade  
3 AU55 PCGS grade