1793 1C Chain, S-3, BN (Regular Strike)
Series: Flowing Hair Chain Cents 1793
PCGS MS62BN
"AMERICA" REVERSE ATTRIBUTION GUIDE
PCGS AU55BN
- PCGS #:
- 35438
- Designer:
- Attributed to Henry Voight
- Edge:
- Bars and Vines
- Diameter:
- 27.00 millimeters
- Weight:
- 13.48 grams
- Mintage:
- 36,103
- Mint:
- Philadelphia
- Metal:
- Copper
- Auction Record:
- $747,500 • MS64 • 08-09-2012 • Stack's Bowers
Die Varieties
- 1793 1C Chain, S-2, BN
- 1793 1C Chain, S-3, BN
- 1793 1C Chain, S-3, RB
- 1793 1C Chain, NC-1, BN
Rarity and Survival Estimates Learn More
| Survival Estimate | |
|---|---|
| All Grades | 502 |
| 60 or Better | 5 |
| 65 or Better | |
| Numismatic Rarity | |
|---|---|
| All Grades | R-5.9 |
| 60 or Better | R-9.7 |
| 65 or Better | R-10.1 |
| Relative Rarity By Type All Specs in this Type | |
|---|---|
| All Grades | 3 / 3 |
| 60 or Better | 3 / 3 |
| 65 or Better | 1 / 3 |
| Relative Rarity By Series All Specs in this Series | |
|---|---|
| All Grades | 3 / 3 |
| 60 or Better | 3 / 3 |
| 65 or Better | 1 / 3 |
Condition Census What Is This?
|
#1 Est. MS65BN
"The Joseph Zanoni Collection," sold privately by Edward Cogan,1867; Thomas Cleneay; “The Thomas Cleneay Collection,” Samuel Hudson and Henry Chapman, December 1890, Lot 1794; J.F. Anger; Arba Borden; Allison W. Jackman; “The Allison W. Jackman Collection,” Henry Chapman, June 1918, Lot 685; Hillyer Ryder, Ryder estate through 1945; Ryder Collection sold, en bloc, to Wayte Raymond, May 1945; Wayte Raymond to Dr. William H. Sheldon, via private treaty, 1947; "The Dr. Whilliam H. Sheldon Collection" sold, en bloc, to R.E. “Ted” Naftzger, April 19, 1972; R.E. "Ted" Naftzger to Stanley Kesselman in March 1980 as partial payment for the Garrett S-3. As NGC MS66BN. Stack’s Bowers, August 19, 2012, Lot 11180 – $763,750. S-3. |
#2 PCGS MS63BN
“The Colin Lightbody Collection,” Edward Cogan, December 1866, Lot 536; Mortimer Livingston Mackenzie, "The Mackenzie Collection,” Edward Cogan, June 1869, Lot 624; L. Bayard Smith, to an unknown party; Arthur L. Gray; Ted and Carl Brandts of Celina Coin Company, T. James Clarke; "The T. James Clarke Cent Collection" sold, en bloc, to R.E. “Ted” Naftzger in October, 1954; “The T. James Clarke Collection (duplicates and Naftzger castoffs),” Abe Kosoff, April 1956 – Lot 4; Stack’s to Dorothy Nelson; Stack’s, February 1976, Lot 3; Ed Hipps; Steve Ivy, November 1978, Lot 7; to Robert Bender; Heritage Auctions, August 1988, Lot 3; Anthony Terranova to Kevin Lipton; to Stack’s; unknown collector; American Numismatic Rarities, July 25, 2003, Lot 105 – $115,000; Stack’s, July 27, 2008, Lot 1074 – $207,000; Rare Coin Wholesalers (via Chris Victor-McCawley). As PCGS MS63BN #26401316. "The Dan Holmes Collection," Goldberg Auctioneers, September 2009, Lot 5 - $253,000; "The High Desert Collection" (PCGS Set Registry). S-3. Published in April 1869 issue of the American Journal of Numismatics. |
|
#3 PCGS MS62BN
"The Malcolm N. Jackson Collection," United States Coin Co., May 1913, Lot 1226 - $140; Carl Wurtzbach, 1919; Virgil M. Brand, February 1941; B.G. Johnson; Dr. J. Hewitt Judd; Abe Kosoff, 1962 Fixed Price List, Lot 16; Abner Kreisberg & Hans M.F. Schulman, May 1966, Lot 753 - $6,750; Jake Browning; Harmer, Rooke, November 1969, Lot 807A - $9,000; RARCOA, August 1970, Lot 1602A - $8,500; Stack's, October 1990, Lot 1590 - $33,000; Anthony Terranova; Kenneth M. Goldman; and Martin Paul; Denis W. Loring, July 1994; John B. MacDonald; Denis W. Loring; "The Walter J. Husak Collection," Heritage Auctions, February 2008, Lot 2002 - $253,000. S-3. Plated in Abe Kosoff's 1962 monograph An Illustrated History of United States Coins. Die State III. |
|
#4 PCGS AU58
McLaughlin & Robinson, January 1986, Lot 264; Stack's, January 2002, Lot 727 - $43,125; "The Joshua and Ally Walsh Collection," Heritage, January 2006, Lot 3013 - $138,000. S-3. |
#5 PCGS AU55
Lester Merkin, March 1967; "The Dr. E. Yale Clarke Collection," Stack's, October 1975, Lot 38; Eugene M. Gardner; "The Dr. and Mrs. Claude Davis Collection," Heritage Auctions, August 11, 2010, Lot 3022- $109,250; "The Collections of Walter J. Husak and the Liberty Cap Foundation," Heritage Auctions, January 4, 2024, Lot 2002 - $138,000; "The Duffy Family Collection," Heritage Auctions, September 15, 2024, Lot 3015 - $150,000. S-3. |
|
#5 PCGS AU55
Heritage Auctions, January 6, 2016, Lot 5224 - $152,750. S-3. |
#7 PCGS AU53
"The Herman Halpern Collection," Stack's, March 1988, Lot 2; McCawley & Grellman, August 1995, Lot 134; Denis W. Loring; "The Denis W. Loring Collection of 1793 Large Cents," Heritage Auctions, January 2012, Lot 3018 - $102,500 Reserve Not Met; Heritage Auctions, April 26, 2015, Lot 4914 - $111,625; Heritage Auctions, April 28, 2019, Lot 3670 - $105,000; "The Warshaw Family Collection, Part IV," Heritage Auctions, June 20, 2021, Lot 3016 - $156,000. S-3. Die State III. |
|
#7 PCGS AU53
"The Troy Wiseman Collection," Heritage Auctions, September 13, 2006, Lot 121 - $86,250. S-3. |
#7 PCGS AU53
Goldberg Auctioneers, February 13, 2017, Lot 2 - $73,438; Dell Loy Hansen; "The D.L. Hansen Large Cents Collection" (PCGS Set Registry). S-3. |
The 1793 Chain Cent, AMERICA, Close Date, Leaning R, Sheldon-3
The 1793 Chain Cent, occasionally referred to as the “Link” Cent in 19th-century numismatic literature, was the first regular-issue one-cent coin produced by the United States Mint. Struck at the first Philadelphia Mint facility and most likely included in the March 1 delivery, it holds the distinction of being the first federal coin struck for circulation.
While the dies were executed by Henry Voigt (sometimes spelled Voight), the first Chief Coiner, the obverse was inspired by the Libertas Americana medal designed by the famed French engraver Augustin Dupré. The obverse depicts Liberty with "flowing" hair, the inscription LIBERTY above, and the date 1793 below the bust truncation.
The reverse displays a chain of 15 interlocking links, symbolizing the 15 states in the Union in 1793, which encloses the denomination ONE CENT. The legend is spelled UNITED STATES OF AMERI. on the Sheldon-1 and UNITED STATES OF AMERICA on Sheldon-2 through Sheldon-4. This inscription encircles the central motif clockwise from the top of the coin.
The design was poorly received by the public. Critics decried the reverse as "Liberty in chains," perhaps a subtle nod to the ongoing slave trade or a more general fear of federal overreach. A contemporary report from Newark noted:
"The American Cents... do not answer our expectations. The chain on the reverse is but a bad omen for liberty, and Liberty herself appears to be in a fright."
A similar sentiment appeared in the March 18, 1793, edition of Philadelphia’s The Mail, which stated:
"The chain on the reverse is but a bad omen for liberty."
|
1793 Chain Cent Deliveries |
|||
| March 1, 1793 | 11,178 delivered | March 2, 1793 | 2,009 delivered |
| March 4, 1793 | 4,000 delivered | March 5, 1793 | 3,765 delivered |
| March 6, 1793 | 1,573 delivered | March 8, 1793 | 7,000 delivered |
| March 8, 1793 | 7,000 delivered | March 9, 1793 | 1,000 delivered |
| March 12, 1793 | 5,578 delivered | Total: 36,103 coins | |
Over the twelve-day production period, 36,103 pieces were struck using five distinct die combinations. The initial delivery on March 1 consisted of roughly 7,000 cents of the AMERI. variety (S-1), while the remaining 4,178 coins from that first delivery were of the Sheldon-2 variety. The Sheldon-2 and subsequent four Chain Cent varieties utilized the same reverse die where "AMERICA" was spelled out in full. These inaugural coins were struck in relatively low relief; their successor, the Wreath cent, would feature a more robust, higher-relief design.
America, Close Date, Leaning R (S-3) Die Chararacteristics
Rarity-3. The Sheldon-3 variety features a very closely spaced date and a distinctive positioning of LIBERTY. On this variety, the R is slightly larger than the surrounding letters and is canted to the right. This creates a unique visual effect, making it appear as though "LIBE" and "RTY" are two separate, crowded words. The positioning of the date is similarly irregular; the numerals were punched in a staggered formation, placing the tops of the 1 and 9 slightly above the tops of the 7 and 3. It is these artisanal characteristics of the Mint’s early, hand-cut dies that provide early American coinage with such enduring charm.
This reverse die shows AMERICA fully spelled out and was also used to strike the Sheldon-2, Sheldon-4, and NC-1 varieties; only the Sheldon-1 (AMERI.) used a different reverse die. Walter Breen and Mark Borckardt suggest a mintage of up to 18,000 pieces for this variety, accounting for the bulk of the March 2-8 deliveries. Die clash frequently seen at Liberty's mouth and neck.
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