Cent

Cent

Cent

Early Date large cents Designs change frequently during first 22 years By William T. Gibbs
COIN WORLD Staff So much change over such a small period of time. The large cents of 1793 to 1814 – referred to as the Early Dates by their fans – underwent what might seem to a neophyte collector a bewildering series of rapid design changes, particularly when compared to the design stagnation that affected the cent from 1909 to 1958 and from 1959 to 2008. During the 22 years that constitute Early Date large cent production, four distinct obverse design types were introduced, used and discarded in rapid succession, while two completely different reverse design themes were used, one for just 12 days. The cent was the first U.S. coin struck in quantity for circulation. The first cents were struck from March 1 to 12, 1793. Those first 36,103 coins represent one of the most desirable of all U.S. coins: the 1793 Flowing Hair, Chain cent. The designs of the new cent garnered almost instant criticism. The reverse design in particular triggered outrage, as politicians and citizens misinterpreted the major design elements of a chain consisting of 15 interlocking links. Each link represented one of the 15 states of the Union, but many saw the design as a "chain of slavery." The obverse design – a bare-headed female allegorical portrait of Liberty with flowing locks of hair – was criticized for appearing mad. The Chain reverse design was the first to go; it was replaced by a Wreath design. A new Flowing Hair Liberty portrait was introduced on the obverse. The 1793 Flowing Hair, Wreath cent went into production on April 9, less than a month after production of the Flowing Hair, Chain cent ceased. Production nearly doubled, to 63,353 coins, before a new obverse design was introduced. Production of the 1793 Liberty Cap, Wreath cent began in early September 1793. A completely new, less "savage" Liberty portrait was created. She remained bare-headed, but she also carried a pole topped by a Liberty cap over her shoulder. A completely different, two-branch, olive Wreath design was introduced, replacing the first Wreath design (composed of uncertain flora). Production of this version of the cent continued until April 1796. The Draped Bust obverse design was used from July 1796 through December 1808. Liberty appears as a buxom female with long hair flowing below the shoulder line, and her bust draped in cloth (hence the name). Many were struck on planchets provided by a private firm in Great Britain! The Classic Head cent – last of the Early Date cents – was in production from 1808 through 1814. Liberty wears a "fillet'" or headband bearing the word LIBERTY, the first time that word appeared as part of Liberty's portrait. Early Date large cents offer many dozens of die varieties, an advanced area of collecting. ________________________________________ Middle Date large cents Chasing 1816-1839 large cents a special kind of treasure hunt By William T. Gibbs
COIN WORLD Staff John D. Wright, cataloger extraordinaire of the large cents of 1816 to 1839, writes that the series collectors refer to as the Middle Dates offers "more bang-for-the-buck than the ones either before (too many bucks) or after (not enough bang)." Catalogers of large cents generally classify cents as the Early Dates (1793 to 1814); the Middle Dates (1816 to 1839; no 1815 cents were struck); and the Late Dates (1840 to 1857). Wright's reference to "too many bucks" for the Early Date cents characterizes the expense involved in acquiring the many rare die varieties and dates, while his comment "not enough bang" refers to technological improvements to the minting process that make the cents of 1840 to 1857 less interesting (at least to some). To a neophyte, the cents of 1816 to 1857 appear to have the same designs: a portrait of Liberty wearing a coronet on the obverse, a wreath on the reverse). However, specialists know that the designs of the Middle Date cents are variations on that Coronet Liberty-Wreath theme. All are not the same. Why are the Middle Date cents so interesting? Wright writes that the Middle Date series offers enough "specialty" that he would never feel the letdown of the "complete collection syndrome" that one feels when "plugging that last hole in each album." The fun is in the chase and in the seeking, Wright writes, not in the having. And what a chase it can be. Collectors can choose from several ways to collect Middle Date cents, Wright advises. One approach is a date set. Another way to approach the series is to collect one of each date and major varieties. A third approach is to focus on a single year. A fourth approach involves chasing after all of the nearly 250 die varieties (the approach that has kept John Wright so happy over the years). Expanding that latter goal to include die states, and one has a goal that will probably never be completed. Other approaches include collecting errors. Whatever your approach, you'll have fun with Middle Date cents. ________________________________________ Late Date large cents Improvements in technology mean fewer varieties By William T. Gibbs
COIN WORLD Staff Better is not always best. The increasing sophistication of minting technology at the second Philadelphia Mint was a godsend for production, but it all but eliminated significant die varieties on U.S. coins, including the Late Date Coronet cents of 1840 through 1857. Die variety collectors lament the sameness of production that arose with those improvements. For them, better is not best. The improvement in die production did not completely eliminate large cent die varieties, but it made those that were produced less interesting, at least in the eyes of some. Varieties are primarily though not strictly limited to the dates. Among the interesting Late Date varieties: the 1843 Coronet, Obverse of 1842, Reverse of 1844 cent; the 1844/81 variety, in which the engraver punching the date into the die attempted to stamp the first two numerals into the die upside down, where the 4s were meant to be; and the 1855 cents, some with slanting 5s and others with upright 5s. However, despite the improvements in die production, the Late Date large cent series remains extremely collectible. Researchers generally record 1840 as the first of the Late Date cents, although one 1839 obverse die, the Head of 1840, variety is identical to the portraits used from 1840 through 1843. New hubs were created in 1843, which show a slightly repositioned portrait and other modifications. The same hubs were used for the remainder of the series. Annual mintages from 1840 through 1856 ranged from a low of 1.57 million (1855) to a high of 9.88 million (1851). The large cent was an anachronism by the 1850s. Its heavy weight versus its limited buying power made it unpopular in commerce. Rising copper prices made the cent unprofitable to coin. An alternative became necessary. A growing interest in a copper-nickel coinage (nickel lobbyists were powerful at the time) led to the approval of a smaller copper-nickel cent in 1857 to replace the aging large cent. The new, smaller 1857 Flying Eagle cent, authorized in the Act of Feb. 21, 1857, was released in quantity on May 27. It was the end of one era, and the beginning of another.