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The year 1793

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 Posted 03/29/2012  9:23 pm Show Profile Bookmark this topic Add nod2003 to your friends list Get a Link to this Message

Why were there so many large cent designs in 1793? I mean I think there were 6 different major types in one year according to numismedia including 2 of the most expensive large cents out there.

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349 Posts
 Posted 03/29/2012  9:50 pm  Show Profile Bookmark this reply Add Scropper to your friends list Get a Link to this Reply
Well, the main reason is that nobody liked the first design. The mint was a new venture, and they were simply finding their way.

There was an outburst after the S-1 came out, so they switched from the "Chain Reverse", viewed as a symbol of shackles (limiting) rather than freedom, to the Wreath.

But still, nobody really liked the Lady Liberty, so they went with the French Liberty Cap - much like the one Franklin used on the Libertas Americana, and people seemed okay with that, so that's what they stuck with for the obverse for a few years.

Minting coins then was a very different thing than it is now, and the mint had plenty of detractors. There were many people against the US coining it's own money. The pay was meager and the hours were long - but then again, that's kinda how it was in every profession but for the elite back then.

Still, it was a very sensitive subject, and the people's voice carried a great deal of weight. As then is now and always, nobody likes the current coinage.
Edited by Scropper
03/29/2012 9:53 pm
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349 Posts
 Posted 03/29/2012  9:58 pm  Show Profile Bookmark this reply Add Scropper to your friends list Get a Link to this Reply
Oh, and as for the most expensive ones, I assume you mean the S-1 and the S-14, that's because very few were produced.

The S-1 was only minted for half of March of 1793, and it's the very first coin officially produced by the US Mint. The Liberty Caps were only made in I believe November and December of that year, and again, not many were made.

The reason I believe the 1793 Liberty Cap is more expensive than others, besides its limited mintage, is that 1794, '95, and '96's also used the Lib Cap design. So if somebody wants a complete set (and face it, us collectors like to fill them holes), you have to get the big'un of which there weren't many made.

Oh, and the S-4 that sold at FUN in January for over a mill is just a very high grade. S-4 is about as rare as the S-1 in terms of mintage and surviving, and the serious cats that collect them tend to collect by Sheldon number.
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 Posted 03/29/2012  9:59 pm  Show Profile Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply

Very well stated
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