The first coin struck inside the newly constructed United States Mint in Philadelphia sold for a celebrated $1,150,000 on Thursday night at the Central States Numismatic Society Convention. The specimen is graded MS61-Brown by PCGS. The coin is highly coveted by numismatists and always brings about enthusiastic bidding when seen in the market.
The design described by the cataloguer as follows, “Liberty faces right with hair flowing behind. The obverse periphery reads LIBERTY PARENT OF SCIENCE & INDUSTRY, with 1792 just below the bust. The reverse has a wreath tied with a ribbon at the bottom; ONE CENT is within. Around the rim is UNITED STATES OF AMERICA with the fraction 1/100 below. Struck in copper with a silver plug in the center. Medallic alignment.”
The following excerpt from a letter sent by Thomas Jefferson to President Washington offers evidence that our founding fathers were deeply involved in the coining process and interested in the design of our early coins.
“Th. Jefferson has the honor to send the President two cents made on Voigt’s plan by putting a silver plug worth 3/4 of a cent into a copper worth 1/4 cent. Mr. Rittenhouse is about to make a few by mixing the same plug by fusion with the same quantity of copper. He will then make of copper alone of the same size, and lastly he will make the real cent as ordered by Congress, four times as big.”
Can you imagine the excitement of the day as these great men constructed our young nation? United States rare coins survive today to tell a wonderful story of our rich nations history and are tangible evidence of what has become the greatest economic society in world history. And the sale of this treasure for $1,150,000 confirms that rare coins as an asset continue to shine like a newly minted penny.
Congratulations to the winning bidder for this outstanding early American rarity. He or she stands in good company as a temporary custodian of one our most important coins.