PCGS Authenticates Previously Unreported 1792 ''No Silver'' Cent At ANA Pittsburgh Convention

A previously unreported 1792 silver center cent without silver (Judd 2) was brought to the American Numismatic Association's World's Fair of Money® in Pittsburgh by several members of a New York state family. The early American copper coin was certified by Professional Coin Grading Service as Very Fine 30, and it is now only the ninth known example of the experimental cent.

The coin's owners, who want to remain anonymous, drove to the ANA convention specifically to confirm their belief that it was genuine and valuable. They said it has been in their family for generations.

"They trace their ancestors back to Oliver Wolcott, one of the signers of the Declaration of independence and a Governor of Connecticut during the 1790s," said Michael Sherman, PCGS Vice President who personally assisted the family when they brought their historic cent to the PCGS booth at the ANA convention on Saturday, August 21.

"They remember their grandfather kept the coin in a Prince Albert tobacco can along with about a dozen other old coins. When he died in 1976, their father put the tin can and coins in a small safe that was in the corner of the living room of their usually-unlocked home in upstate New York. Since 1989 the coin has been kept in a bank vault," said Sherman.

As part of the PCGS certification process at the ANA convention, the 1792 no silver cent also was examined by well-known early American coin experts Kenneth E. Bressett of Colorado Springs, Colorado, a former ANA President; John Dannreuther of Memphis, Tennessee, a co-founder of PCGS and author of the award-winning reference book, The Official Guide to Coin Grading and Counterfeit Detection; Anthony Terranova of New York City; and Robert Rhue of Denver, Colorado; who were all delighted with the discovery.

Bressett told the Associated Press: "This is like the 'Antiques Roadshow' (PBS television program) and someone popped in with something exciting. It's like the Holy Grail just showed up on our doorstep."

The family members spoke with representatives of several auction houses at the convention, but no announcement was made about future plans for the coin.