| Survival Estimate | |
|---|---|
| All Grades | 450 |
| 60 or Better | 3 |
| 65 or Better | |
| Numismatic Rarity | |
|---|---|
| All Grades | R-6.1 |
| 60 or Better | R-9.8 |
| 65 or Better | R-10.1 |
| Relative Rarity By Type All Specs in this Type | |
|---|---|
| All Grades | 6 / 11 |
| 60 or Better | 2 / 11 |
| 65 or Better | 1 / 11 |
| Relative Rarity By Series All Specs in this Series | |
|---|---|
| All Grades | 6 / 12 TIE |
| 60 or Better | 3 / 12 |
| 65 or Better | 1 / 12 |
#1 PCGS MS64BN
"The John F. McCoy Collection," W. Elliot Woodward, May 1864, Lot 661 - $10; "The J.N.T. Levick Collection," ; Edward Cogan, May 1865, Lot 1352 - $9; "The Abram S. Jenks Collection," Edward Cogan, April 1877, Lot 701 - $21; "The George W. Merritt Collection," Ed. Frossard, January 1879, Lot 95 - $15; Ed. Frossard; "The Lorin G. Parmelee Collection," - New York Coin & Stamp, June 1890, Lot 693 - $52; "The John G. Mills Collection," - S.H. & H. Chapman, April 1904:, Lot 1236 - $49; S.H. & H. Chapman - $55; Robert Garrett, 1919; John Work Garrett; The Johns Hopkins University, acquired March 1973; "The John W. Adams Collection," Marketed in Bowers & Ruddy 1982 Fixed Price List, lot 5 - $55,000; Marketed in Bowers & Ruddy Rare Coin Review #46, December 1982 - $55,000; Marketed in Bowers & Merena Rare Coin Review #48, June-July 1983 - $55,000; John W. Adams Collection, sold privately, February 1984; R. E. "Ted" Naftzger, Jr. Collection, sold privately, February 1992; Eric Streiner; Jay Parrino (The Mint), sold privately, May 1996; "The W.M. 'Jack' Wadlington Collection"; Chris Victor-McCawley, sold privately , January 2009. As PCGS MS64BN #50240170. "The Cardinal Collection," Stack's/Bowers, January 24, 2013, Lot 13004 - $881,250; "The D. Brent Pogue Family Collection, Part V" Stack's Bowers & Sotheby's, March 2017, Lot 5093 - $540,500; "The Collections of Walter J. Husak and the Liberty Cap Foundation," Heritage Auctions, January 4, 2024, Lot 2011 - $432,000. S-18b. |
#2 PCGS MS63BN
"The M. P. Lyons Collection," S. H. & H. Chapman, April 1903, Lot 1236; "The George H. Earle, Jr. Collection," Henry Chapman, June 1912, Lot 3370; S. H. Chapman; "The J. P. Hale Jenkins Collection," Henry Chapman, July 1922, Lot 1474; Henry C. Hines; Carl Wurtzbach; "The Charles Wheeler Collection," Stack's August 24, 1976, Lot 347; Dr. Edward R. Bush, September 1979; R. E. "Ted" Naftzger, Jr.; 1990 EAC Sale, Lot 20; "The Dan Holmes Collection," Goldbergs, September 2009, Lot 31 - $155,250; Anthony Terranova, sold privately; As PCGS MS63BN #13666805. "The Paul Gerrie Collection," Goldbergs, February 2013, Lot 9 - $276,000. As PCGS MS63BN #26772311. Mike Chipman; "The High Desert Collection (PCGS Set Registry). S-18b. Curved horizontal line over ONE that extends through the borrom left serif of A to the rim. |
#2 PCGS MS63BN
Dr. George P. French; B. Max Mehl, by sale, en bloc, 1929; “The Dr. George P. French Collection,” B. Max Mehl, Fixed Price List, 1929, Lot 21 – $200; T. James Clarke; T. James Clarke Estate, 1952; R.E. “Ted” Naftzger, Jr.; “The R.E. “Ted” Naftzger, Jr. Collection,” by sale, en bloc, October 1954; 1989 EAC Auction, April 1989, Lot 20 – $36,000; Dr. Allen Bennett; Walter J. Husak; “The Walter J. Husak Collection,” by sale, en bloc, 1999; As PCGS MS-63BN #32189850. “The Walter J. Husak Collection,” Heritage Auctions, February 2008, Lot 2019 – $253,000; D. Brent Pogue Family. As PCGS MS-63BN #32189850. “The D. Brent Pogue Family Collection, Part V,” Stack’s Bowers / Sotheby’s, March 31, 2017, Lot 5094 – $188,000; Dell Loy Hansen; "The D.L. Hansen Large Cents Collection" (PCGS Set Registry). S-18b. |
#2 PCGS MS63BN
S-18b. |
#5 PCGS MS60BN
As NGC MS-61 BN #4196618-001. Heritage Auctions, January 5, 2017, Lot 5526 – $82,250. As NGC MS-61+BN #4920437-001. Heritage Auctions, January 2017, Lot 5526 - $82,250; Heritage Auctions, January 9, 2020, Lot 4089 – $105,000. As PCGS MS60BN #46635907. S-18b. Obverse has a dappled appearance. The reverse is noticeably darker. |
#6 PCGS AU58+BN
Virgil M. Brand; B.G. Johnson, August 1, 1945 – $170; James Kelly; Dr. William H. Sheldon; Sheraton Coin Co.; Numismatic Gallery, August 1947, Lot 779 – $140; Edward L. Urban; Lester Merkin, June 15, 1977; Andrew M. Hain; Dennis E. Steinmetz; Steve Ivy Numismatic Auctions, August 1980, Lot 939 – $15,000; Anthony Terranova; “The Herman Halpern Collection,” Stack’s, March 1988, Lot 18 – $15,400; John M. Foreman, Sr.; Kenneth M. Goldman, June 1991; John B. MacDonald; Denis W. Loring, April 13, 2001; Jon Alan Boka. As PCGS AU-58+ #81233627. “The Jon Alan Book Collection of 1794 Large Cents,” Heritage Auctions, September 8, 2016, Lot 5302 – $176,250; Jay Parrino; "The St. Jude Collection" (PCGS Set Registry). S-18b. |
It might seem like a paradox, but one of the primary reasons the 1794 Liberty Cap Cent became such an iconic collectible was its availability. By today’s standards, 1794 cents are "dream coins" for most collectors; however, during the hobby’s early boom (from the 1860s to the 1900s), the mintage of nearly one million coins meant that examples were relatively easy to find.
While many were worn or damaged, others avoided heavy circulation. Quite a few were saved as souvenirs, retaining their original Mint State details, though most eventually lost their original mint color over time. This accessibility allowed early numismatists like George H. Clapp and Howard R. Newcomb to begin their intensive study into the date's many varieties.
These varieties presented a second factor that led to the coin's enduring popularity. While some are rare and others are considered "common," there are 69 collectible die varieties in total for the 1794 Cent.
PCGS categorizes these into three distinct groups:
The Head of 1793 Cents comprise Sheldon-17a/b through Sheldon-20a/b. The "a/b" designations describe the orientation of the edge ornamentation: on "a" varieties, the leaf points down; on "b" varieties, the leaf points up.
The transition from the Head of 1793 to the Head of 1794 was undertaken primarily to improve die life and strike consistency.
Visual Characteristics
The Head of 1793 features high, sharp relief with a noticeably rounded face for Liberty. Her hair is rendered with fine, delicate strands. In contrast, the Head of 1794 was introduced after the striking of the Sheldon-20 varieties and features a design rendered in lower relief. On this newer design, Liberty's face is less rounded, and the strands of her hair are coarser.
The cap also serves as a key diagnostic: the Head of 1793 shows three distinct folds in the fabric, while on the Head of 1794, the form of the hat is more bulbous and less defined.
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