1794 Large Cents

Getting back to the original question about 179x coins in problem free condition. I love these old coppers but based on my limited budget I needed to make some compromises. Here's what I did. I purchased some 1794s in details grade (most of the 1794s being sold would grade details). I also bought a 1796 problem free coin for comparison. I paid so much more for the 1796 based on the BN grade but the net grade is much lower than the 1794 details coins I own. I have both details and RB and my take on this is that I prefer a details coin that is graded higher details because of a technicality rather than a BN 179x coin.

OK, maybe this makes a difference - I'm a collector and not interested in resale as a dealer.

Just my opinion of course.

Example of Details



Example of BN

Sorry, yes - BN not RB

Ad I recall, the pound was worth a lot more back then, maybe closer to $5. Must have been quite a cent!

I fell in love with 1794 Large Cents last year, I own a couple now, only AG/G though. Since they've priced me out of the market on most of them, I collect the next best thing, literature on them. At the EAC convention this past spring, (my first) I was talking with Chuck Heck (EAC member and member of the boyz of 94 club) he told me they used to give 1794 low grades away to the younger members all the time, but now it's just not feasible, as even AG coins are close to $100 or even more now. Sure wish I had put away a stack of them 10 years ago.

A wonderful and enlightening discussion. I've pushed my EAC buying back to 1802 and I'm only missing two dates after that. Those earlier are so top of the line blue chip that I just can't consider purchasing any of them with problems (usually corrosion). They far exceed my own maximum spending limit of $200 for non-TPG purchases. With only a few exceptions I keep that limitation and only buy +$200 coins in TPGs.

I do buy a few 'type coin' series that I believe I know well beyond that limitation in raw state, but I don't count EACs as one of those series.

When I'm putting (what I consider) a larger sum into a single coin I always keep in mind that at some point either I or my heirs will sell the coin. If the coin is lovely it will always garner interest and desire. The more collectors who would want the coin, the greater chance that it will maintain value.

Even though the early EAC in no problem TPGs are fought over and garner considerably higher prices and much greater interest I look at that as a primary reason to keep my patience and wait for those superior examples.

When I look at the coins in my collection I want each of them to be good reasons for keeping a box of drool rags close at hand.

Buy what YOU like. I somewhat regret selling a VF details 1795 because you could see pinscratches under a loupe. It was a nice coin in-hand.

I say this because of liquidating an estate collection of modern proofs. None of the heirs wanted them. They had value for the gold eagles, not because they were collectable. The same is true of 1794 cents. What's an heir going to do with them? They could end up in a yard sale or a dumpster and you can't stop them. I lost track of the number of trips to the transfer station carrying Dad's treasure heap.

My experience is that PCGS grades Early Copper tougher, and sometimes a bit unfairly.

So sad,... another beautiful copper locked up in a plastic case! : (