United States First Official Money

in #money6 years ago

The united states first official money was copper coinage of one cent (Large Cent) intended for circulation to the public were struck at the Mint in Philadelphia from February 27th. through March 12th. 1793. These were called the Flowing Hair design with the Chain reverse. Only a total of 36,103 were ever made and on today's market less then 1,000 or so surviving today. A contemporary account noted that miss liberty appeared to be in fright and the public did not like the design of lady liberty and by April of 1793 it was replaced by a new flowing haired liberty. A key note of Chain Cent is that of the reverse had 15 links intended to symbolize unity of the 15 states in the union of that time. wikipedia photo
I would like to note that coins of this area were made of raw copper and stamped using a screw press using two people this was very time consuming. Steam presses were not invented at that time and smelting of metals were not perfected and is one of the reasons that early copper coinage in top quality are rare today even in low grades as fair-2 can get you 3,000usd up to mint state 60 that goes for 300,00usd in todays market.
One of a coin collectors top 100 coins to have.
Hope you enjoyed a little history
Thanks for reading
Rayo

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