Find the 1793 Flowing Hair Penny That Could Be Valued Near $900,000

The 1793 Flowing Hair Penny, also known as the Chain Cent, is one of the special coins of the United States. It was the first large cent minted at the United States Mint and due to its rarity and historical value, perfect specimens can be worth up to $900,000.

Historical Significance of the 1793 Flowing Hair Penny

It is a circulating large cent with the Flowing Hair Penny being the first and struck by the new mint in Philadelphia. Obverse of this type portrays the image of liberty as the goddess of freedom and reverse shows the thirteen links in the chain representing the states. However, the chain design was criticised for being associated with slavery and therefore the chain design was replaced with the Garland design later the same year.

Design Variations and Rarity

Several variations of the 1793 Flowing Hair Penny are known: the Chain Reverse and the Garland Reverse. Of these, the rare chain reverse, of which 36,103 were produced, is the most distinctive. Within this category, there were other variations, such as “AMERI.” and due to space limitations on the die other variants were also created, resulting in approximately 6,300 more coins being minted. The low minting and special characteristics of these coins make them attractive to collectors.

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Factors Affecting Value

There are several factors that affect the value of the 1793 Flowing Hair Penny:

Condition: Coins in excellent condition, with minimal wear, fetch a higher price.
Rarity: Rare examples plus the existing stock ensure that the value of such a coin is highly considered.
Historical significance: The coin is historical because it is one of the first issued by the United States of America.
Design variations: Some of the attributes were newcomer specifics which included aspects like ‘AMERI.’ Moreover, the acronym to which, abbreviation, can add further value to the coin.

Notable Auction Sales

The 1793 Flowing Hair Penny has achieved notable prices at auctions:

$1.38 Million Sale: In January 2012, a 1793 Chain Cent sold for $1.38 million, a record for a copper coin at the time.
$850,000 Sale: Another example sold for $850,000, indicating the coin’s significant value.

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Collecting the 1793 Flowing Hair Penny

Coin collectors love to obtain a piece of the 1793 Flowing Hair Penny for their collections. Because of their rarity and high value, it is important to:

Confirm Authenticity: Make sure the coin has been confirmed authentic by other grading services.
Evaluate Condition: Learn as much as you can about its overall grade; this has a big impact on the coin’s cost.
Consult the experts: Contact other members of numismatic societies or dealers in early U.S. dollars.

Key Features of the 1793 Flowing Hair Penny

The 1793 Flowing Hair Penny brought the first ounce of truth to Americans in introducing them to their country’s art. Collectors and historians are fascinated by the rarity, history and unique design; high-quality models can be worth nearly $900,000.

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FAQs On Find the 1793 Flowing Hair Penny That Could Be Valued Near $900,000

Q. What is the 1793 Flowing Hair Penny?

A. The 1793 Flowing Hair Penny is one of the first coins minted by the United States and is highly valued for its rarity and historical significance.

Q. Why is this coin so valuable?

A. Its value comes from its age, rarity, and historical importance as one of the first pennies produced by the U.S. Mint, along with its unique design and limited mintage.