US Cent and Dime
Except otherwise stated, all results include the premium.
See also : Coins 1776-92 Coins 1793-1819 Coins 1870-99 20th century coins
Chronology : 1792
See also : Coins 1776-92 Coins 1793-1819 Coins 1870-99 20th century coins
Chronology : 1792
1792
Intro
An independent state must control its currency. In the early years of the United States, the confusion is total : the majority of circulating coins are British colonial or Spanish issues. An independent goldsmith named Brasher even started to strike his own currency in 1787.
Progress is slow at the beginning. They had to wait until July 6, 1785 for a congressional resolution to promote the dollar in place of the pound, and the Mint Act (or Coinage Act) of April 2, 1792 to decide the operation of a federal plant.
President Washington personally engaged in the first production. The first Federal issue was the half disme, worth half a tenth of a dollar. The urgency was to demonstrate that the State department knew to replace the most common and most useful currency, the shilling worth one twentieth of a pound.
The biggest break with the past and with foreign powers was the adoption of a decimal currency. Disme is a contraction of the French word dixième.
On July 9, 1792, Washington authorizes the first series of half dismes, for which he himself deposits the silver bullion for a total value of approximately $ 100. The Philadelphia plant is not yet equipped, and the production is carried out in the workshop of a blacksmith. The installation of production equipment in Philadelphia's official factory was made on September 7, 1792.
These first half dismes were not signed but an attribution to Birch is plausible.
These early coins were used as a presentation currency for demonstrating the US sovereignty, but most of them started circulating along with the first half dimes (the useless central 's' having disappeared) two years later.
Only one of these half dismes has a special feature. Selected from the origin for the success of its centering, it has been improved by polishing. Remaining in mint condition, this unit is graded SP (specimen) 67 by PCGS. It was sold by Heritage for $ 1.4M on January 10, 2013, and for $ 1.3M on August 7, 2014, lot 5545.
Progress is slow at the beginning. They had to wait until July 6, 1785 for a congressional resolution to promote the dollar in place of the pound, and the Mint Act (or Coinage Act) of April 2, 1792 to decide the operation of a federal plant.
President Washington personally engaged in the first production. The first Federal issue was the half disme, worth half a tenth of a dollar. The urgency was to demonstrate that the State department knew to replace the most common and most useful currency, the shilling worth one twentieth of a pound.
The biggest break with the past and with foreign powers was the adoption of a decimal currency. Disme is a contraction of the French word dixième.
On July 9, 1792, Washington authorizes the first series of half dismes, for which he himself deposits the silver bullion for a total value of approximately $ 100. The Philadelphia plant is not yet equipped, and the production is carried out in the workshop of a blacksmith. The installation of production equipment in Philadelphia's official factory was made on September 7, 1792.
These first half dismes were not signed but an attribution to Birch is plausible.
These early coins were used as a presentation currency for demonstrating the US sovereignty, but most of them started circulating along with the first half dimes (the useless central 's' having disappeared) two years later.
Only one of these half dismes has a special feature. Selected from the origin for the success of its centering, it has been improved by polishing. Remaining in mint condition, this unit is graded SP (specimen) 67 by PCGS. It was sold by Heritage for $ 1.4M on January 10, 2013, and for $ 1.3M on August 7, 2014, lot 5545.
1
Birch Cent
2015 SOLD for $ 2.6M by Heritage
The production lines of the federal Mint in Philadelphia were operational from September 1792. The next phase was experimental, for preparing the cent, the disme and the quarter dollar. Pattern coins were prepared with dies at the date of 1792 but none of these three denominations was released for circulation in that year.
Twelve varieties of 1792 pattern coins are known with three of them from a single surviving example. They include the bimetallic tests for the cent, three figures of the Liberty probably prepared by competing designers, silver and copper planchets whatever the metal defined in the coinage act, and reeded or plain edges.
The mintage of these pattern coins had not been documented. 65 examples are surviving of which the biggest figure is 18 for the reeded edge copper disme.
The Coinage Act of April 2, 1792 established both the US currency and the Philadelphia Mint that had to produce it. The first released value, issued in July 1792, was the half disme because it was the smallest silver coin. This operation which directly involved President Washington was essentially political as the small produced quantity did not allow an effective circulation.
Much effort was then applied to the cent, worth 1/100 of a dollar, authorized in copper by the Coinage Act. US people were impatient of possible delays in the currency promised by their Congress but on the other side the unexpected rise in copper prices could turn to political disaster
This panic of copper is the cause of experiments of bimetallic copper-silver pattern cents : the silver-center cent and the fusible alloy cent. These unusual designs were both unsuitable for mass production.
Projects for full copper coin patterns are not abandoned. The Birch cent is certainly tested at the Philadelphia Mint at the end of 1792, of which it is bearing the date. Two copper variants are described by Judd and Pollock.
Similarities in the design enable to consider that this cent was prepared by the same engraver who also made the half disme. The Birch name is engraved down the neck of Liberty in the so-called Birch cent.
The sudden increase in the price of copper terminated this first federal cent before the production phase. Bimetallic copper-silver trials of 1792, which could not be industrially viable, were probably made in December.
The solution will be political. On January 14, 1793, the Congress is devaluing from 264 to 209 grains the weight of a copper cent. 264 grains correspond to 17.1 grams. The enigmatic Mr Birch disappears from the history of coinage, possibly in the 1793 yellow fever pandemic. The first 1 cent released for circulation will be the chain cent, in March 1793.
Eleven copper Birch cents survive in three variants. On January 8, 2015, Heritage listed the two finest specimens. The piece in Judd-4 variant, graded MS65 by NGC, weighs 220 grains. It was sold for $ 2.6M, lot 5504.
The coin in Judd-5 variant is the next lot, 5505. It was sold for $ 560K. It weighs 262 grains and is graded MS61 by NGC.
The second best copy of the Judd-4, graded AU58 by PCGS, was sold for $ 1.17M by Stack's Bowers on March 26, 2015, lot 2577.
Twelve varieties of 1792 pattern coins are known with three of them from a single surviving example. They include the bimetallic tests for the cent, three figures of the Liberty probably prepared by competing designers, silver and copper planchets whatever the metal defined in the coinage act, and reeded or plain edges.
The mintage of these pattern coins had not been documented. 65 examples are surviving of which the biggest figure is 18 for the reeded edge copper disme.
The Coinage Act of April 2, 1792 established both the US currency and the Philadelphia Mint that had to produce it. The first released value, issued in July 1792, was the half disme because it was the smallest silver coin. This operation which directly involved President Washington was essentially political as the small produced quantity did not allow an effective circulation.
Much effort was then applied to the cent, worth 1/100 of a dollar, authorized in copper by the Coinage Act. US people were impatient of possible delays in the currency promised by their Congress but on the other side the unexpected rise in copper prices could turn to political disaster
This panic of copper is the cause of experiments of bimetallic copper-silver pattern cents : the silver-center cent and the fusible alloy cent. These unusual designs were both unsuitable for mass production.
Projects for full copper coin patterns are not abandoned. The Birch cent is certainly tested at the Philadelphia Mint at the end of 1792, of which it is bearing the date. Two copper variants are described by Judd and Pollock.
Similarities in the design enable to consider that this cent was prepared by the same engraver who also made the half disme. The Birch name is engraved down the neck of Liberty in the so-called Birch cent.
The sudden increase in the price of copper terminated this first federal cent before the production phase. Bimetallic copper-silver trials of 1792, which could not be industrially viable, were probably made in December.
The solution will be political. On January 14, 1793, the Congress is devaluing from 264 to 209 grains the weight of a copper cent. 264 grains correspond to 17.1 grams. The enigmatic Mr Birch disappears from the history of coinage, possibly in the 1793 yellow fever pandemic. The first 1 cent released for circulation will be the chain cent, in March 1793.
Eleven copper Birch cents survive in three variants. On January 8, 2015, Heritage listed the two finest specimens. The piece in Judd-4 variant, graded MS65 by NGC, weighs 220 grains. It was sold for $ 2.6M, lot 5504.
The coin in Judd-5 variant is the next lot, 5505. It was sold for $ 560K. It weighs 262 grains and is graded MS61 by NGC.
The second best copy of the Judd-4, graded AU58 by PCGS, was sold for $ 1.17M by Stack's Bowers on March 26, 2015, lot 2577.
1792 Birch Cent sold for $2.585 mm making it the #recordholder for the most valuable penny ever sold! @FUN_Convention pic.twitter.com/Ovpewrni2e
— Heritage Auctions (@HeritageAuction) January 9, 20152
Silver Center Cent SP67 brown
2021 SOLD for $ 2.5M by Heritage
For the establishment of the federal currency, the major problem is not the dollar but the cent, which is used for all transactions of daily life. In the monetary anarchy of that era, it was easy to melt copper coins to recreate them with less weight. In 1787 the Fugio cent is an attempt at federal control over this denomination.
In 1789 George Washington becomes the first president. It is high time to define the federal currency. In the same year, the Fugio cent, directly impacted by the collapse in the price of copper, is terminated.
The feasibility of using copper for small change is questioned. In the entourage of Secretary of State Thomas Jefferson, a bimetallic system is suggested, with a proportion of 3 to 1 in value between silver and copper. Technologically, three solutions are possible : the alloy, the silver coating and the plug.
Bimetallic tests are performed by the Chief Coiner Henry Voigt. Two processes are tried. The silver coating is not tested and the alloy is forgeable.
The Fusible Alloy cent goes straight to failure. The silver is in a too low proportion to alter the color of the copper and the coin would be very easy to counterfeit. It is one of the scarcest US pattern coins.
The Silver Center cent do not have this inconvenience. Slightly conical silver plugs are prepared in a thickness of 1.2 mm and an average diameter of 4.26 mm, providing the required proportion for a metal value of one hundredth of a dollar in a 23 mm copper piece. Inserted in the center of the piece of copper, the silver is quite visible, at least in a brand new coin. It is not acceptable because the production, which includes a melting after the insertion, induces an excessive cost of production.
On December 18, 1792, Jefferson reports to the President. He joins a prototype with a plug and a prototype made by fusion. His conclusion is clear : the cent defined by Congress will be made of copper alone. The risk linked to the instability of the copper price is thus accepted de facto. This statement is ratified by Congress in January 1793 with a decrease in the weight of the cent from 264 to 209 grains.
Twelve specimens of the Silver Center Cent have survived. The finest, graded SP67 Brown by PCGS, was sold for $ 2.5M by Heritage on January 20, 2021, lot 3004.
In 1789 George Washington becomes the first president. It is high time to define the federal currency. In the same year, the Fugio cent, directly impacted by the collapse in the price of copper, is terminated.
The feasibility of using copper for small change is questioned. In the entourage of Secretary of State Thomas Jefferson, a bimetallic system is suggested, with a proportion of 3 to 1 in value between silver and copper. Technologically, three solutions are possible : the alloy, the silver coating and the plug.
Bimetallic tests are performed by the Chief Coiner Henry Voigt. Two processes are tried. The silver coating is not tested and the alloy is forgeable.
The Fusible Alloy cent goes straight to failure. The silver is in a too low proportion to alter the color of the copper and the coin would be very easy to counterfeit. It is one of the scarcest US pattern coins.
The Silver Center cent do not have this inconvenience. Slightly conical silver plugs are prepared in a thickness of 1.2 mm and an average diameter of 4.26 mm, providing the required proportion for a metal value of one hundredth of a dollar in a 23 mm copper piece. Inserted in the center of the piece of copper, the silver is quite visible, at least in a brand new coin. It is not acceptable because the production, which includes a melting after the insertion, induces an excessive cost of production.
On December 18, 1792, Jefferson reports to the President. He joins a prototype with a plug and a prototype made by fusion. His conclusion is clear : the cent defined by Congress will be made of copper alone. The risk linked to the instability of the copper price is thus accepted de facto. This statement is ratified by Congress in January 1793 with a decrease in the weight of the cent from 264 to 209 grains.
Twelve specimens of the Silver Center Cent have survived. The finest, graded SP67 Brown by PCGS, was sold for $ 2.5M by Heritage on January 20, 2021, lot 3004.
#HeritageLive: We kick off several days of FUN with some Important Selections from the Bob R. Simpson Collection, including this 1792 Silver Center Cent, SP67 Brown. Bidding opened at $1,875,000. It just sold for $2,520,000.https://t.co/SY2aqMz8e1#HACoins #numismatics pic.twitter.com/EQ9hEn3d6p
— Heritage Auctions (@HeritageAuction) January 20, 2021
3
Silver Center Cent MS64
2014 SOLD for $ 2M by Heritage
Twelve units of the silver center cent survived, to which we may add another one announced by the press in 2009 and a specimen without the plug.
The second finest is graded MS64 by PCGS with a nice sheen on both sides. It was sold for $ 2M by Heritage on August 7, 2014, lot 5517.
The Silver Center cent from the Newman collection is graded MS63+ by NGC. It was sold for $ 1.4M by Heritage on May 16, 2014, lot 30426.
A Silver Center cent graded MS61 Brown by PCGS was sold for $ 1.15M by Heritage, lot 5403. After it passed at Stack's Bowers on November 9, 2017, lot 10003, it was downgraded from the variety Judd-1 to Judd-2, meaning that the plug was added at a later date to simulate a Judd-1. It was sold for $ 580K by Stack's Bowers on March 21, 2023, lot 3063.
The second finest is graded MS64 by PCGS with a nice sheen on both sides. It was sold for $ 2M by Heritage on August 7, 2014, lot 5517.
The Silver Center cent from the Newman collection is graded MS63+ by NGC. It was sold for $ 1.4M by Heritage on May 16, 2014, lot 30426.
A Silver Center cent graded MS61 Brown by PCGS was sold for $ 1.15M by Heritage, lot 5403. After it passed at Stack's Bowers on November 9, 2017, lot 10003, it was downgraded from the variety Judd-1 to Judd-2, meaning that the plug was added at a later date to simulate a Judd-1. It was sold for $ 580K by Stack's Bowers on March 21, 2023, lot 3063.
1793 Chain Cent
2015 SOLD for $ 2.35M by Heritage
The Act of Congress of April 2, 1792 decided that the production of the federal coins would be centralized in a factory in Philadelphia. In July the release of the first batch under this act, the half-disme, is a promotional and political operation during which President Washington demonstrates his personal involvement in the project.
Mass production will begin with the One Cent. That small coin worth 1/100 of a dollar, was eagerly anticipated. It had to assess that the federal government was able to circulate a currency suited to everyday life. It was not the first trial. The United States had produced from 1787 in 400,000 units a coin of this value, the Fugio cent in copper, stopped two years later because its inscriptions were not compliant with the new Constitution.
From October 1792 the rise in the price of copper creates a major difficulty. The Mint tries unsuccessfully to develop a bi-metallic copper-silver cent by alloying or plugging. On January 14, 1793 the Congress agrees to reduce the copper weight from 264 to 208 grains for a come back to a One Cent ln pure copper. This is not enough : the weight is then reduced to 168 grains (13.48 grams).
It is decided not to wait anymore. President Washington's birthday celebrations will last one week starting on Saturday, February 22. The federal One Cent must be available to users on Saturday, March 1st, eleven months after the Coinage Act.
The new coin is actually released on the scheduled day, in 11,178 units. Its design provokes an immediate reprobation at the factory. In the emergency the engraver miscalculated the circular arrangement of the letters on the reverse, inscribing United States of Ameri without ending the word America.
The Chain Ameri are thus the very first coins available for trading under the act of 1792, S-1 in Sheldon nomenclature. On January 10, 2019, Heritage sold for $ 1.5M as lot 4312 a coin in a great condition, graded MS64+ Brown by PCGS and CAC stamped. It even kept traces of the original color of the copper inside some deep incisions better preserved from corrosion. Only one other Ameri, not graded by PCGS, may be considered finer. Please watch the video shared by the auction house.
The publicists are immediately upset. The reverse side that consists mainly of a circle of fifteen links symbolizing the unity of the states is interpreted as a slave chain.
This chain symbol was not new and its presentation to the general public did not by itself generate a political misunderstanding. However, we must admit that the designer was not skillful. The Fugio cent already had a chain but its round links were soft. With its aggressive oval links, the chain cent was really unacceptable.
The correction of the blunders of the Chain cent was feverish. No less than three changes are made in less than two weeks, probably by at least two engravers who have not been identified. They are referred as S-2 to S-4 by Sheldon.
The S-4 got rid of all original defects. On the reverse the word America appears in full. On the observe the figure of the Liberty is more flexible, the word Liberty and the date 1793 are more readable at the top and bottom of the image and both are improved with periods.
An S-2 graded MS65 Brown by PCGS was sold for $ 1M by Stack's Bowers on January 22, 2013. An S-3 graded MS65 Red and Brown by PCGS was sold for $ 1M by Stack's Bowers on February 9, 2016. The best ranked Chain cent is an S-4 graded SP (specimen) 67 Brown by PCGS.
Belonging to the S-4 variant, one of the best chain cents had not appeared at auction since 1890. Graded MS66 Brown by PCGS, it is remarkable for its bold strike and perfect readability uncommon in old copper coins. It was sold for $ 2.35M by Heritage on January 7, 2015, lot 4011. Please watch the videos shared by the auction house, obverse and reverse..
An S-4 graded MS65 Brown by PCGS was sold by Heritage for $ 1.38M on January 4, 2012 and for $ 1M on June 14, 2018, lot 3776. Please watch the video shared by the auction house.
The chain cent had been struck during only twelve days which were enough to wear the fragile dies already produced in this variant and to prepare its successor, the wreath cent whose elegant plant motif was unassailable.
Mint records indicate the release of 36,103 chain cents. The wreath cent, which was only a transition model designed for this situation of emergency, was produced in only 63,353 units, for a financial total still limited to $ 630 quite unable to serve the needs of the country..
The disgust inspired by the chain cent contributes greatly to the fact that some units were not handled and are still intact, which is not the case for the best wreath cents. Nevertheless the wreath cent from the Cardinal collection was graded 69 by PCGS. It was sold for $ 560K by Stack's Bowers on January 24, 2013.
Mass production will begin with the One Cent. That small coin worth 1/100 of a dollar, was eagerly anticipated. It had to assess that the federal government was able to circulate a currency suited to everyday life. It was not the first trial. The United States had produced from 1787 in 400,000 units a coin of this value, the Fugio cent in copper, stopped two years later because its inscriptions were not compliant with the new Constitution.
From October 1792 the rise in the price of copper creates a major difficulty. The Mint tries unsuccessfully to develop a bi-metallic copper-silver cent by alloying or plugging. On January 14, 1793 the Congress agrees to reduce the copper weight from 264 to 208 grains for a come back to a One Cent ln pure copper. This is not enough : the weight is then reduced to 168 grains (13.48 grams).
It is decided not to wait anymore. President Washington's birthday celebrations will last one week starting on Saturday, February 22. The federal One Cent must be available to users on Saturday, March 1st, eleven months after the Coinage Act.
The new coin is actually released on the scheduled day, in 11,178 units. Its design provokes an immediate reprobation at the factory. In the emergency the engraver miscalculated the circular arrangement of the letters on the reverse, inscribing United States of Ameri without ending the word America.
The Chain Ameri are thus the very first coins available for trading under the act of 1792, S-1 in Sheldon nomenclature. On January 10, 2019, Heritage sold for $ 1.5M as lot 4312 a coin in a great condition, graded MS64+ Brown by PCGS and CAC stamped. It even kept traces of the original color of the copper inside some deep incisions better preserved from corrosion. Only one other Ameri, not graded by PCGS, may be considered finer. Please watch the video shared by the auction house.
The publicists are immediately upset. The reverse side that consists mainly of a circle of fifteen links symbolizing the unity of the states is interpreted as a slave chain.
This chain symbol was not new and its presentation to the general public did not by itself generate a political misunderstanding. However, we must admit that the designer was not skillful. The Fugio cent already had a chain but its round links were soft. With its aggressive oval links, the chain cent was really unacceptable.
The correction of the blunders of the Chain cent was feverish. No less than three changes are made in less than two weeks, probably by at least two engravers who have not been identified. They are referred as S-2 to S-4 by Sheldon.
The S-4 got rid of all original defects. On the reverse the word America appears in full. On the observe the figure of the Liberty is more flexible, the word Liberty and the date 1793 are more readable at the top and bottom of the image and both are improved with periods.
An S-2 graded MS65 Brown by PCGS was sold for $ 1M by Stack's Bowers on January 22, 2013. An S-3 graded MS65 Red and Brown by PCGS was sold for $ 1M by Stack's Bowers on February 9, 2016. The best ranked Chain cent is an S-4 graded SP (specimen) 67 Brown by PCGS.
Belonging to the S-4 variant, one of the best chain cents had not appeared at auction since 1890. Graded MS66 Brown by PCGS, it is remarkable for its bold strike and perfect readability uncommon in old copper coins. It was sold for $ 2.35M by Heritage on January 7, 2015, lot 4011. Please watch the videos shared by the auction house, obverse and reverse..
An S-4 graded MS65 Brown by PCGS was sold by Heritage for $ 1.38M on January 4, 2012 and for $ 1M on June 14, 2018, lot 3776. Please watch the video shared by the auction house.
The chain cent had been struck during only twelve days which were enough to wear the fragile dies already produced in this variant and to prepare its successor, the wreath cent whose elegant plant motif was unassailable.
Mint records indicate the release of 36,103 chain cents. The wreath cent, which was only a transition model designed for this situation of emergency, was produced in only 63,353 units, for a financial total still limited to $ 630 quite unable to serve the needs of the country..
The disgust inspired by the chain cent contributes greatly to the fact that some units were not handled and are still intact, which is not the case for the best wreath cents. Nevertheless the wreath cent from the Cardinal collection was graded 69 by PCGS. It was sold for $ 560K by Stack's Bowers on January 24, 2013.
1870 San Francisco Cornerstone Half Dime
2023 SOLD for $ 3.1M by Heritage
Officials decide and the factory must apply. Twice in the history of the US coinage, a non-existing item was required and a solution was found.
In 1834 the 1 dollar and 1 eagle coins had not been authorized in production since 1804. The proof strikes of 1804 coins made in Philadelphia for the voyage of Roberts are some of the most famous US federal coins, second to the unique pre production 1794 dollar and to the unique non-illegal 1933 double eagle.
In May 1870 the construction of a new building is begun for the San Francisco Mint. The ceremony includes the sealing of a time capsule casket for hoarding inside the cornerstone. That set must gather "one of each denomination of the several coins of the United States of America, all struck off at the San Francisco Branch Mint in the year 1870."
Four of these denominations had not yet been minted. The special strike of the 3 dollar coins is known by only one surviving specimen. A hurried production is made of the 1 dollar silver coin of which 9 examples are surviving. The quarter dollar is still elusive.
There is no record of a 1870 half dime at the San Francisco mint, although the dies had been available in due time.
Only one of them was minted and possibly no other was ever struck beside the cornerstone coin. It surfaced in Chicago in 1978. It was authenticated by SEM inspection as a coin of regular strike with no pollution.
This unique coin with a semi proof finish is graded MS 64 by PCGS plus a CAC endorsement. This great uncirculated condition assesses that this coin of unsignificant value had been hoarded by somebody for some reason. It leads to the assumption that the San Francisco chief coiner had it minted beside the cornerstone coin for presentation to his stepson who had a newborn in that year.
The 1870-S half dime was sold for $ 3.1M by Heritage on January 11, 2023, lot 3341. Please watch the video shared by the auction house.
In 1834 the 1 dollar and 1 eagle coins had not been authorized in production since 1804. The proof strikes of 1804 coins made in Philadelphia for the voyage of Roberts are some of the most famous US federal coins, second to the unique pre production 1794 dollar and to the unique non-illegal 1933 double eagle.
In May 1870 the construction of a new building is begun for the San Francisco Mint. The ceremony includes the sealing of a time capsule casket for hoarding inside the cornerstone. That set must gather "one of each denomination of the several coins of the United States of America, all struck off at the San Francisco Branch Mint in the year 1870."
Four of these denominations had not yet been minted. The special strike of the 3 dollar coins is known by only one surviving specimen. A hurried production is made of the 1 dollar silver coin of which 9 examples are surviving. The quarter dollar is still elusive.
There is no record of a 1870 half dime at the San Francisco mint, although the dies had been available in due time.
Only one of them was minted and possibly no other was ever struck beside the cornerstone coin. It surfaced in Chicago in 1978. It was authenticated by SEM inspection as a coin of regular strike with no pollution.
This unique coin with a semi proof finish is graded MS 64 by PCGS plus a CAC endorsement. This great uncirculated condition assesses that this coin of unsignificant value had been hoarded by somebody for some reason. It leads to the assumption that the San Francisco chief coiner had it minted beside the cornerstone coin for presentation to his stepson who had a newborn in that year.
The 1870-S half dime was sold for $ 3.1M by Heritage on January 11, 2023, lot 3341. Please watch the video shared by the auction house.
1873 Carson City Dime
2023 SOLD for $ 3.6M by Heritage
Carson City was founded in 1858 under good auspices. In the following year, deposits of gold and silver were discovered in its vicinity. When Nevada was separated from Utah, Carson City became its capital. It is still in this position.
A mint was operated there from 1870 to 1893. The coins are identified by the letters CC.
An industrial activity in such an inaccessible region of the Wild West may seem surprising, especially as the population of this tiny capital did not exceed 4,000 inhabitants during this period. However, separating the years, 111 CC coin variants were created, covering seven values from the dime (10 cents) to the double eagle (20 dollars).
The 1870-CC double eagle was a low mintage of 3,789 pieces of which about 40 are surviving. Most of the strike was soft.
An example graded AU58 by NGC was reported as stolen in 2011 soon after its discovery and is not currently referred by NGC.
A lightly abraded coin in an uncommonly sharp strike was recently graded AU55 by PCGS. It was sold for $ 1.44M by Stack's Bowers on November 19, 2024, lot 3198. Please watch the 'Coin In Motion' shared by the auction house. A coin graded AU53 by PCGS was sold for $ 1.62M by Heritage on November 11, 2021, lot 3099.
Two subsequent variants are known of the 1873-CC dime : without and with two small arrows on the obverse, one on the left and one on the right of the date. Made mandatory after March 1873, these arrows are a somehow confidential code which attests for a change in the normalization concerning the silver weight of the coin.
The 1873-CC dime without arrows was struck in a single run of 12,400 pieces which was melted when the modification was made applicable.
It is known as a unique surviving example that had possibly escaped the group prepared for the Assay Commission. This specimen is graded MS65 by PCGS in a fine strike. A die crack is seen through the CC mark.
It is indeed not possible to build a full collection unless you own this specific coin. On November 7, 1950, it enabled the completion of the Eliasberg Collection, which went to include all regular U.S. variants. Another owner gathered all the CC varieties and sold his collection in separate lots at Stack's Bowers on August 9, 2012.
Over the years, the price of this unique 1873-CC no arrows dime has always increased : $ 550K from Eliasberg's son in 1996, 630K in 1999, 890K in 2004, $ 1.88M in 2012. Please watch the video shared before the 2012 sale by Stack's Bowers. It was sold for $ 3.6M by Heritage on January 12, 2023, lot 3671.
It is estimated that about one hundred 1873-CC with arrows dimes are surviving. The finest of three confirmed mint state survivors, graded MS65 by PCGS, was sold for $ 550K by Heritage on August 24, 2022, lot 3542.
A mint was operated there from 1870 to 1893. The coins are identified by the letters CC.
An industrial activity in such an inaccessible region of the Wild West may seem surprising, especially as the population of this tiny capital did not exceed 4,000 inhabitants during this period. However, separating the years, 111 CC coin variants were created, covering seven values from the dime (10 cents) to the double eagle (20 dollars).
The 1870-CC double eagle was a low mintage of 3,789 pieces of which about 40 are surviving. Most of the strike was soft.
An example graded AU58 by NGC was reported as stolen in 2011 soon after its discovery and is not currently referred by NGC.
A lightly abraded coin in an uncommonly sharp strike was recently graded AU55 by PCGS. It was sold for $ 1.44M by Stack's Bowers on November 19, 2024, lot 3198. Please watch the 'Coin In Motion' shared by the auction house. A coin graded AU53 by PCGS was sold for $ 1.62M by Heritage on November 11, 2021, lot 3099.
Two subsequent variants are known of the 1873-CC dime : without and with two small arrows on the obverse, one on the left and one on the right of the date. Made mandatory after March 1873, these arrows are a somehow confidential code which attests for a change in the normalization concerning the silver weight of the coin.
The 1873-CC dime without arrows was struck in a single run of 12,400 pieces which was melted when the modification was made applicable.
It is known as a unique surviving example that had possibly escaped the group prepared for the Assay Commission. This specimen is graded MS65 by PCGS in a fine strike. A die crack is seen through the CC mark.
It is indeed not possible to build a full collection unless you own this specific coin. On November 7, 1950, it enabled the completion of the Eliasberg Collection, which went to include all regular U.S. variants. Another owner gathered all the CC varieties and sold his collection in separate lots at Stack's Bowers on August 9, 2012.
Over the years, the price of this unique 1873-CC no arrows dime has always increased : $ 550K from Eliasberg's son in 1996, 630K in 1999, 890K in 2004, $ 1.88M in 2012. Please watch the video shared before the 2012 sale by Stack's Bowers. It was sold for $ 3.6M by Heritage on January 12, 2023, lot 3671.
It is estimated that about one hundred 1873-CC with arrows dimes are surviving. The finest of three confirmed mint state survivors, graded MS65 by PCGS, was sold for $ 550K by Heritage on August 24, 2022, lot 3542.
#HERITAGELIVE In all our years, we can name very few more prestigious coins. The 1873 No Arrows Seated Dime from the Carson City mint is among the most storied and collected in all of US #numismatics. It sold for $3,600,000 in our US Coins Signature Event! https://t.co/KHkfU0M5up pic.twitter.com/PQArbHNig1
— Heritage Auctions (@HeritageAuction) January 13, 2023
1894 Barber Dime
2025 SOLD for $ 2.16M by Heritage
The official records of the US Mint provide the data of production and release with the utmost accuracy, necessary to prevent embezzlement. There is no doubt that the total production of 10 cent silver dimes in San Francisco with the date of 1894 was limited to a minuscule quantity of 24.
That year was disrupted by the financial panic of 1893. Users wanted only gold, to the detriment of silver and paper money. Federal gold reserves were emptied and silver was piling up and depreciating. The demand for silver coins decreased, especially for fragmentary denominations.
Procedures were applied. The San Francisco plant had received in November and January the pairs of dies for the production of the 1894 dimes with a Barber-type figure. The production of dimes continued with the dies marked 1893 or earlier until the production of the 24 pieces on June 9, three weeks before the end of the fiscal year.
The book published in 1893 by Augustus Heaton, A Treatise on Coinage of the United States Branch Mints, stirred an immediate excitement. Collectors now take consideration of the production plant to gather consistent sets including previously unsuspected rarities.
Collectors contact the San Francisco branch in 1894 for acquiring complete series in mint state. Regarding the silver dime worth ten cents, a single response is made : San Francisco does not produce that value in 1894.
Thus the plant's records indicate that 24 dimes were delivered on June 9, 1894. This information goes unnoticed at first glance. The decision for a mass production has not been taken. They were no longer in the cashier's inventory in January 1895. The factory managers did not appreciate that they had created the top scarcity of the US regular coinage.
On the next year, an official stated that he had to close the fiscal accounts of the silver stock and that the very small remaining volume could only be used for dimes.
The 24 units manufactured with the new tools have not benefited from the perfect setting usually applied when beginning an actual series. A few samples were sent to Philadelphia for destructive testing.
The hunt for this scarcity is launched in 1900 when Heaton reveals the existence of the 24 coins in a specialized magazine. It later became legendary when collectors told fancies on the fate of these coins of which only eight or nine units have surfaced. Surviving specimens had been struck with the same dies and their surface condition is consistent. The planchets and dies were not specially polished, showing that the operation was not designed for prestige.
The collector John H. Clapp owned two, presumably acquired new from a factory worker. One of them, graded PR66 by PCGS, is the finest of the group. Later owned by Eliasberg, it was sold by Heritage for $ 2M on January 7, 2016, lot 5317, and for $ 2.16M on January 15, 2025, lot 4307. Please watch the videos shared by the auction house. The image is shared from PCGS on Wikimedia.
The other ex Clapp-Eliasberg, graded PR65+ by PCGS, was sold for $ 1.44M by Stack's Bowers in December 2020, lot 1227.
Two of the nine surviving pieces appeared together in the late 1940s, bought by a dealer to an old woman. The purchaser generates a legend : the lady had three pieces when she was a girl but had innocently used one of them to buy an ice cream. This story has not been consolidated by direct testimony.
One of them, graded PR66 by NGC, was sold by Heritage for $ 1.5M on September 17, 2020, lot 10055. The other coin, graded PR63 by PCGS, was sold for $ 1.32M by Stack's Bowers on August 15, 2019, lot 5178. Numismatists sometimes enjoy charming tales : a circulated coin in Good 4 condition has been nicknamed The Ice Cream Specimen.
A coin graded PR64+ by PCGS was sold for $ 1.55M by Stack's in October 2007, lot 4921.
That year was disrupted by the financial panic of 1893. Users wanted only gold, to the detriment of silver and paper money. Federal gold reserves were emptied and silver was piling up and depreciating. The demand for silver coins decreased, especially for fragmentary denominations.
Procedures were applied. The San Francisco plant had received in November and January the pairs of dies for the production of the 1894 dimes with a Barber-type figure. The production of dimes continued with the dies marked 1893 or earlier until the production of the 24 pieces on June 9, three weeks before the end of the fiscal year.
The book published in 1893 by Augustus Heaton, A Treatise on Coinage of the United States Branch Mints, stirred an immediate excitement. Collectors now take consideration of the production plant to gather consistent sets including previously unsuspected rarities.
Collectors contact the San Francisco branch in 1894 for acquiring complete series in mint state. Regarding the silver dime worth ten cents, a single response is made : San Francisco does not produce that value in 1894.
Thus the plant's records indicate that 24 dimes were delivered on June 9, 1894. This information goes unnoticed at first glance. The decision for a mass production has not been taken. They were no longer in the cashier's inventory in January 1895. The factory managers did not appreciate that they had created the top scarcity of the US regular coinage.
On the next year, an official stated that he had to close the fiscal accounts of the silver stock and that the very small remaining volume could only be used for dimes.
The 24 units manufactured with the new tools have not benefited from the perfect setting usually applied when beginning an actual series. A few samples were sent to Philadelphia for destructive testing.
The hunt for this scarcity is launched in 1900 when Heaton reveals the existence of the 24 coins in a specialized magazine. It later became legendary when collectors told fancies on the fate of these coins of which only eight or nine units have surfaced. Surviving specimens had been struck with the same dies and their surface condition is consistent. The planchets and dies were not specially polished, showing that the operation was not designed for prestige.
The collector John H. Clapp owned two, presumably acquired new from a factory worker. One of them, graded PR66 by PCGS, is the finest of the group. Later owned by Eliasberg, it was sold by Heritage for $ 2M on January 7, 2016, lot 5317, and for $ 2.16M on January 15, 2025, lot 4307. Please watch the videos shared by the auction house. The image is shared from PCGS on Wikimedia.
The other ex Clapp-Eliasberg, graded PR65+ by PCGS, was sold for $ 1.44M by Stack's Bowers in December 2020, lot 1227.
Two of the nine surviving pieces appeared together in the late 1940s, bought by a dealer to an old woman. The purchaser generates a legend : the lady had three pieces when she was a girl but had innocently used one of them to buy an ice cream. This story has not been consolidated by direct testimony.
One of them, graded PR66 by NGC, was sold by Heritage for $ 1.5M on September 17, 2020, lot 10055. The other coin, graded PR63 by PCGS, was sold for $ 1.32M by Stack's Bowers on August 15, 2019, lot 5178. Numismatists sometimes enjoy charming tales : a circulated coin in Good 4 condition has been nicknamed The Ice Cream Specimen.
A coin graded PR64+ by PCGS was sold for $ 1.55M by Stack's in October 2007, lot 4921.
1913 Liberty Head Nickel
Intro
At the end of 1912 as ever, the factories of the US mint are preparing the dies for the year to come. The order to stop the 5 cents comes on December 13, 1912 : officials of the US Mint had decided to abandon its Liberty Head design and to replace it with the Buffalo nickel. The already produced hardware will be recycled.
In 1920 five coins are displayed by a man named Samuel Brown at the annual meeting of the American Numismatic Association. Marked 1913, they are not very old at that time. They are the only 1913 5 cent specimens on the Liberty model.
In 1913 Brown had been employed at the Philadelphia Mint. These 5 cents were not documented. The five samples are from a brand new die, so that an expert was able to define in what order of precedence they were struck. They benefited from the special proof polishing. They possibly had been cast for a first test that became obsolete with the change of design.
The set was broken in 1936. Two of the five units are currently kept in public collections. One of them is in a lesser condition because one of its owners loved holding it in his pocket for showing it to his friends.
In 1920 five coins are displayed by a man named Samuel Brown at the annual meeting of the American Numismatic Association. Marked 1913, they are not very old at that time. They are the only 1913 5 cent specimens on the Liberty model.
In 1913 Brown had been employed at the Philadelphia Mint. These 5 cents were not documented. The five samples are from a brand new die, so that an expert was able to define in what order of precedence they were struck. They benefited from the special proof polishing. They possibly had been cast for a first test that became obsolete with the change of design.
The set was broken in 1936. Two of the five units are currently kept in public collections. One of them is in a lesser condition because one of its owners loved holding it in his pocket for showing it to his friends.
1
ex Eliasberg
2018 SOLD for $ 4.6M by Stack's Bowers
Louis E. Eliasberg Sr had assembled a complete set of US regular coins while looking for the best example of each variety. In 1952 he returned without compensation to the government his 1933 double eagle from an illegal release. His 1913 Liberty Head nickel, acquired by him in 1949, became the most prestigious piece in his collection.
Eliasberg considered this group of five to be the total population. Indeed no other example has ever surfaced. His copy is the best, graded PR66 by PCGS, and the only one from these five with a glittering mirror surface.
When Eliasberg died in 1976, his collection was shared between his two children. It was then the subject of several auctions. The 1913 Eliasberg Liberty nickel became the first coin to cross the million-dollar threshold at auction, on May 21, 1996 by Bowers and Merena, when Q. David Bowers' hammer fell at $ 1.35M, $ 1.485M including premium.
It was sold for $ 1.84M by Superior Galleries in March 2001. Two private transactions were revealed, at $ 4.15M in May 2005 and $ 5M in April 2007. It also passed at auction at Stack's in January 2007 .
The Eliasberg specimen of the 1913 Liberty Head nickel was sold for $ 4.6M by Stack's Bowers on August 15, 2018, lot 1096. The image shared by Wikimedia had been prepared for the 2001 auction.
Eliasberg considered this group of five to be the total population. Indeed no other example has ever surfaced. His copy is the best, graded PR66 by PCGS, and the only one from these five with a glittering mirror surface.
When Eliasberg died in 1976, his collection was shared between his two children. It was then the subject of several auctions. The 1913 Eliasberg Liberty nickel became the first coin to cross the million-dollar threshold at auction, on May 21, 1996 by Bowers and Merena, when Q. David Bowers' hammer fell at $ 1.35M, $ 1.485M including premium.
It was sold for $ 1.84M by Superior Galleries in March 2001. Two private transactions were revealed, at $ 4.15M in May 2005 and $ 5M in April 2007. It also passed at auction at Stack's in January 2007 .
The Eliasberg specimen of the 1913 Liberty Head nickel was sold for $ 4.6M by Stack's Bowers on August 15, 2018, lot 1096. The image shared by Wikimedia had been prepared for the 2001 auction.
The Liberty Head nickel was not officially minted, but five are known to exist, believed to have been struck secretly.
— Stack's Bowers (@StacksBowers) February 3, 2025
One of them sold for $4.5 million at auction in 2018, making it one of the most valuable coins in the world. pic.twitter.com/RAXVGVwutI
2
ex Olsen
2010 SOLD for $ 3.7M by Heritage
The 1913 Liberty Nickel, of which three units are still in private hands, is one of the rarest US coins. The Olsen specimen, so designated from one of its former owners, has even been featured in a television series in 1973, in which thieves were trying to appropriate it. To avoid damaging the precious object, it was replaced by a model in the turbulent scenes of the film, same as a featured character being doubled by a stuntman.
Graded PR64 by NGC, the Olsen specimen, which had also belonged to King Farouk, was sold by Heritage for $ 3.7M on January 7, 2010 and for $ 3.3M on January 9, 2014.
Its picture is shared by Heritage on Wikimedia : By Photo taken by Heritage Auctions (Provided by Heritage Auctions with permission) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
Please watch the video shared in 2021 by Stack's Bowers after an exhibition beside the highlights of their November sale.
Graded PR64 by NGC, the Olsen specimen, which had also belonged to King Farouk, was sold by Heritage for $ 3.7M on January 7, 2010 and for $ 3.3M on January 9, 2014.
Its picture is shared by Heritage on Wikimedia : By Photo taken by Heritage Auctions (Provided by Heritage Auctions with permission) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
Please watch the video shared in 2021 by Stack's Bowers after an exhibition beside the highlights of their November sale.
3
ex Walton
2013 SOLD for $ 3.2M by Heritage
The Walton specimen had a turbulent history. It was in the car of its owner at the time of his fatal crash in 1962. It was then out of view during 40 years, simply because the auctioneer responsible for the estate sale did not believe in its authenticity. Waiting for better days, the family had kept it.
Graded PR63 by PCGS, it was sold for $ 3.2M by Heritage on April 25, 2013, lot 4153.
Please watch the video shared by CoinWeek.
Graded PR63 by PCGS, it was sold for $ 3.2M by Heritage on April 25, 2013, lot 4153.
Please watch the video shared by CoinWeek.
