How much is a 1793 Chain cent worth?

The 1793 chain cent AMERICA with periods variety is worth around $4,800 in about good condition. In good condition the value is around $6,500. In fine condition the value is around $21,000. In about uncirculated condition the price is around $125,000.

How many pennies were minted 1793?

Mint produced its first circulating coins, the copper cents were minted in late February 1793, with over 11,000 copper cents delivered March 1, 1793. The first pennies struck at the U.S. Mint were made of pure copper and were much larger than the modern one-cent coins we are accustomed to using today.

What is the history of the penny?

Offa, an Anglo-Saxon king, introduced the first English coin known as the penny around 790 A.D.; it was made entirely of silver. Mint struck its first one-cent coins—then the size of today’s half-dollars and 100-percent copper—in 1793, Americans continued to use the British term out of habit.

How much is a 1792 penny worth?

The 1792 penny, made as a prototype for the first US cent, is worth an estimated $1 million.

Why was the penny invented?

During the colonial period, people used a mixture of coins from other countries. A popular coin was the British penny, which was the smallest part of the British pound coin. That’s why we call our cent a “penny.” In 1857, Congress told the Mint to make the cent smaller and to mix the copper with nickel.

Why was the penny changed in 1982?

In 1982, the fast-rising price of copper forced the U.S. Mint to change the composition of the penny to primarily zinc, with pure copper plating. This change allowed the “copper” penny to retain its traditional appearance.

Why is the penny the only copper coin?

In 1943, copper was needed for war materials, so pennies were made out of zinc-coated steel. Because the color was silvery, it was easy to mistake a penny for a dime. Fortunately, pennies were only made that way for one year.

How much is a 1793 penny worth?

Pricing the 1793 Flowing Hair Large Cent

DATE	GOOD	UNCIRCULATED
1793 Flowing Hair	$8,000	$125,000
1793 Liberty Cap	$6,000	$170,000
Source: Red Book

Who is on the 1793 penny?

Wreath cent

Obverse
Design	Liberty
Designer	Henry Voigt
Design date	1793
Reverse

How much is a 1793 coin worth?

Pricing the 1793 Flowing Hair Large Cent

DATE	GOOD	EXTREMELY FINE
1793 Flowing Hair	$8,000	$65,000
1793 Liberty Cap	$6,000	$80,000
Source: Red Book

Why is the penny Brown?

When oxygen binds with copper, they form a new molecule known as copper oxide. Copper oxide is brownish or sometimes black in color (depending on other things in the penny’s environment). This is why most pennies you see look dirty or tarnished—it’s not actually dirt but copper oxide that makes them look so dull.

How many Chain cents were made in 1793?

Chain cents were struck during late February and early March 1793; records indicate that approximately 36,103 were produced. However, the public reaction to the coins was largely unfavorable. One newspaper criticized the appearance of the Liberty head, saying that it appeared to be “in a fright”.

When was the first Chain cent made?

It was struck only during 1793. It was not the first circulating coin produced by the United States, which was the Fugio cent of 1787 (also known as the Franklin cent), based on the Continental dollar. As with the Fugio cent, the Chain cent was made of copper and featured a chain symbolizing the linking together of the states of the United States.

What was America’s first large cent?

The Chain cent was America ‘s first large cent and the first circulating coin officially produced by the United States Mint. It was struck only during 1793. It was not, however, the first circulating coin produced by the United States – having been preceded by the Fugio cent of 1787 (also known as the Franklin cent),…

What does the Chain cent symbolize?

As with the Fugio cent, the Chain cent was made of copper and featured a chain symbolizing the linking together of the states of the United States. The obverse design consisted of a stylized Liberty head with flowing hair.