1794 1C No Fraction Bar, RB

1795 1C Plain Edge, RB

1795 1C Lettered Edge, RB (Regular Strike)

Series: Liberty Cap Cents 1793-1796

PCGS MS65+RB

PCGS MS65+RB

PCGS MS65RB

PCGS #:: 1378

Designer:: Attributed to Robert Scot

Edge:: Lettered: ONE HUNDRED FOR A DOLLAR

Diameter:: 28.00 millimeters

Weight:: 13.48 grams

Mintage:: 37,000

Mint:: Philadelphia

Metal:: Copper

Auction Record:: $207,000 • MS65 • 02-01-2008 • Heritage Auctions

ShowHide Related Coins and Varieties (13)

Major Varieties

Die Varieties

Go To Grade

Price Guide (USD)

PCGS Population

Auctions - PCGS Graded

Auctions - NGC Graded

Current Auctions - PCGS Graded

Current Auctions - NGC Graded

For Sale Now at Collectors Corner - PCGS Graded

For Sale Now at Collectors Corner - 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.
All Grades	4	R-9.8	3 / 5	3 / 6
60 or Better	4	R-9.8	3 / 5	3 / 6
65 or Better	2	R-9.9	3 / 5	3 / 6

Survival Estimate
All Grades	4
60 or Better	4
65 or Better	2

Numismatic Rarity
All Grades	R-9.8
60 or Better	R-9.8
65 or Better	R-9.9

Relative Rarity By Type All Specs in this Type
All Grades	3 / 5
60 or Better	3 / 5
65 or Better	3 / 5

Relative Rarity By Series All Specs in this Series
All Grades	3 / 6
60 or Better	3 / 6
65 or Better	3 / 6

Condition Census What Is This?

Pos	Grade	Pedigree and History
1	PCGS MS65+RB	Discovered in Europe; Sotheby's, October 1995, Lot 1395; Anthony Terranova; Lawrence Stack, sold privately as an entire collection in January 2003. As PCGS MS65+RB #32189853. "The D. Brent Pogue Collection, Part V," Stack's Bowers & Sotheby's, March 2017, Lot 5101 - $223,250; Mike Chipman. S-75. Die State I.
2	PCGS MS65RB	Virgil M. Brand; Carl Wurtzbach, 1935; Charles R. Mathewson, 1953; Dr. William H. Sheldon, April 1972; R.E. “Ted” Naftzger, Jr., February 1992; Eric Streiner; Jay Parrino; Superior, May 1999, Lot 1465 – $26,450. As PCGS MS65RB #13470603. “The Walter J. Husak Collection”, Heritage Auctions, February 15, 2008, Lot 2076 – $207,000. As PCGS MS65+RB #40323763. “The Bob R. Simpson Collection, Part I,” Heritage Auctions, September 17, 2020, Lot 10006 – $114,000. S-74. Die State VI.
3	PCGS MS65RB	Virgil M. Brand; B.G. Johnson, January 1944; Arthur C. Fritz; Rudolph Khol; Federal Coin Exchange Fixed Price List 1952; Harold Bareford, September 1985; Herman Halpern, December 1986 - R.E. "Ted" Naftzger; Goldberg Auctioneers, September 2008, Lot 170 - $155,250. S-75.
3	PCGS MS65RB	As NGC MS65RB #339896-001. Heritage Auctions, January 7, 2010, Lot 2408 - $40,250. As PCGS MS65RB #27442689. S-75. Die State V.
3	PCGS MS65RB
6	PCGS MS64RB
6	PCGS MS64RB
6	PCGS MS62RB
10	PCGS MS62RB

#1 PCGS MS65+RB

Discovered in Europe; Sotheby's, October 1995, Lot 1395; Anthony Terranova; Lawrence Stack, sold privately as an entire collection in January 2003. As PCGS MS65+RB #32189853. "The D. Brent Pogue Collection, Part V," Stack's Bowers & Sotheby's, March 2017, Lot 5101 - $223,250; Mike Chipman. S-75. Die State I.

#2 PCGS MS65RB

Virgil M. Brand; Carl Wurtzbach, 1935; Charles R. Mathewson, 1953; Dr. William H. Sheldon, April 1972; R.E. “Ted” Naftzger, Jr., February 1992; Eric Streiner; Jay Parrino; Superior, May 1999, Lot 1465 – $26,450. As PCGS MS65RB #13470603. “The Walter J. Husak Collection”, Heritage Auctions, February 15, 2008, Lot 2076 – $207,000. As PCGS MS65+RB #40323763. “The Bob R. Simpson Collection, Part I,” Heritage Auctions, September 17, 2020, Lot 10006 – $114,000. S-74. Die State VI.

#3 PCGS MS65RB

Virgil M. Brand; B.G. Johnson, January 1944; Arthur C. Fritz; Rudolph Khol; Federal Coin Exchange Fixed Price List 1952; Harold Bareford, September 1985; Herman Halpern, December 1986 - R.E. "Ted" Naftzger; Goldberg Auctioneers, September 2008, Lot 170 - $155,250. S-75.

#3 PCGS MS65RB

As NGC MS65RB #339896-001. Heritage Auctions, January 7, 2010, Lot 2408 - $40,250. As PCGS MS65RB #27442689. S-75. Die State V.

#3 PCGS MS65RB

#6 PCGS MS64RB

#6 PCGS MS62RB

#10 PCGS MS62RB

Charles Morgan:

The 1795 Liberty Cap Cent

1795-dated Liberty Cap Cents come in two planchet varieties: thick lettered-edge planchets (BN #1378), which were all struck earlier in 1795, and thin plain-edge planchets (BN #1380), which were struck in late December — likely on December 26, 27, and 31. Based on this timeline and the fact that plain-edge cents far outnumber lettered-edge examples, numismatists presume that production of 1795-dated plain-edge cents continued into the spring of 1796. Walter Breen speculated that production shifted from 1795-dated to 1796-dated dies around March or April.

Three obverse dies and three reverse dies were used to strike the 37,000 Lettered Edge cents. Struck on heavy copper planchets weighing 208 grains, these coins bore the incuse edge inscription ONE HUNDRED FOR A DOLLAR.

Why the Edge Changed

The one word answer is cost. Rising raw copper prices pushed production costs beyond face value. By October 1795, it cost $1.22 to manufacture $1.00 worth of cents.

Although Congress had authorized a weight drop earlier in March, official action took place late in the year. In December 1795, President George Washington instructed newly appointed Mint Director Elias Boudinot to reduce the cent's weight to 168 grains (formalized by presidential proclamation in January 1796).

This weight reduction resulted in thinner planchets, prompting the Mint to drop edge lettering altogether.

Plain Edge cents far outnumber Lettered Edge cents, with estimates ranging from 4:1 to 13:1 (according to numismatist Walter Breen). A few experimental Reeded Edge cents (BN #1383) were also produced; these remain extreme rarities that survive only in lower, circulated grades.

Lettered Edge Die Varieties

Sheldon-73 (BN #35711): Widely spaced date. The "1" nearly touches Liberty's hair, while the "5" is spaced away from the bust. Lettering: The "ER" in LIBERTY is positioned notably higher than the surrounding letters. History: Discovered by numismatist Sylvester Crosby prior to 1883.
Sheldon-74 (BN #35714): Obverse Die: Shared with S-75; distinguished by the upper flag of the "5" burrowing directly into the truncation of Liberty's bust. Reverse Die: Carried over from S-73; features distinct single leaves below "IT" (in UNITED) and "CA" (in AMERICA). Overall a challenging die marriage. PCGS records a single S-74 in Mint State Red-Brown, boasting an illustrious provenance tracing back to the legendary Virgil Brand collection.
Sheldon-75 (BN #35717): Obverse carried over from S-74. Doubled leaf at the top right branch.
Sheldon-76a (BN #35720): The "5" in the date is buried into the bust truncation. The placement of LIBERTY (positioned farther left) distinguishes this obverse from that of S-73. The reverse is notable because ONE CENT is positioned high above the center.

* * *