The Incredible History (and Future) of the 1793 Flowing Hair U.S. Chain Cents

The 1793 Flowing Hair U.S. Chain cents were the very first U.S. coins struck for general circulation. In particular, it was the AMERI. variety (an abbreviation for AMERICA) that holds this honor.Show more

Another major variety of the 1793 Chain cent featured AMERICA fully spelled out.

This video details the fascinating history of this coin and takes a nostalgic look at the early U.S. Mint in Philadelphia. It also explains why the Chain cent is an excellent choice for collectors searching for classic U.S. coins destined to rise sharply in value.

Production of the Chain cents ended after just a few weeks. Although the chain on the reverse was meant to convey strength and unity among the states, many people associated it with bondage and slavery. Numismatists believe this is one reason the design was quickly replaced by a wreath.

Because of the importance of the 1793 Chain cent, collectors for 175 years have eagerly pursued the small number of survivors, pushing retail prices higher and faster than most collectible United States coins.

Value trend charts are presented to illustrate the impressive rise in price over a period of many years of the 1793 AMERI. Chain cent.

Solid numismatic fundamentals are what drives the popularity of this coin with collectors, which illuminates a bright future as well.

Everything discussed in this video is available for detailed study at:
https://www.rarecoins101.com/1793-flowing-hair-cent-chain-reverse-ameri.html

The 1793 AMERI. Chain cent is one of numerous Key Date U.S. coins contained in the Rare Coins 101 list of recommendations.

The recommendations are based on historical value trend charts identifying classic U.S. coins that have been the most popular with collectors for generations. Coins that have proven to be numismatic favorites over time are the best to own if outstanding price appreciation is the ultimate goal.

Learn more at:
https://www.rarecoins101.com/
https://www.rarecoins101.com/key-date-coin-list.html

Chapters:
00:00 Introduction
00:13 Rare Coins 101 and the Key Date Coin List
03:51 Value Trends of the 1793 Flowing Hair AMERI. Chain Cent
11:57 Earliest Days of the U.S. Mint in Philadelphia
14:46 Production of the 1793 Chain Cent
16:30 Public Reaction to the 1793 Chain Cent
19:26 Varieties of the 1793 Chain Cent
22:05 Why was AMERICA Abbreviated with AMERI.?
25:05 Legacy of the 1793 Flowing Hair AMERI. Chain Cent

Sources:
Garrett, Jeff and Guth, Ron. 100 Greatest U.S. Coins, 5th ed. Pelham, AL: Whitman Publishing, 2019.

Orisz, Joel J. and Augsburger, Leonard D. The Secret History of the First U.S. Mint. Atlanta, GA. Whitman Publishing, LLC. 2011.

Taxay, Don. The U.S. Mint and Coinage. New York, NY. Arco Publishing Company. 1966.

Stack’s Bowers Auction. 1793 Flowing Hair Cent, Chain, AMERI. February 2016.
https://auctions.stacksbowers.com/lots/view/3-2RX0I/1793-flowing-hair-cent-sheldon-1-rarity-4-chain-ameri-mint-state-61-bn-pcgs

Gregory, Barbara. The 1793 “AMERI.” Chain Cent: A Chicago Homecoming. The Numismatist Magazine, June 2011.

Hettger, Henry T. Famed Varieties of U. S. Large Cents in the Smithsonian Collection. The Numismatist Magazine, June 1987. (for second newspaper comment)

Sound effects/Music:
Pixabay. https://pixabay.com/
“Minuet in G Major” by Christian Petzold

Images:
Location of First Mint plaque: https://www.philart.net/art/United_States_Mint_Historical_Plaque/850.html

First Mint Facility:
Lamasure, Edwin. “Ye Olde Mint,” 1913 (Public domain)

Spacing between lettering on Chain cent varieties:
Eckberg, William. America's Hand Engraved Coinage. The Numismatist Magazine, March 2018.

Coins:
Stack’s Bowers. https://stacksbowers.com/
Heritage Auctions. https://coins.ha.com/