In the world of rare coin collecting, certain coins stand out due to their historical significance and the rarity of their condition. One such coin is the 1793 Liberty Cap large cent, a remarkable example from the early days of U.S. coinage. This particular piece gained attention when it was sold as part of Jon Alan Boka’s collection at a Heritage auction in 2016. Boka, known for his impressive collection of early American coins, sold 58 out of his 1794 Flowing Hair large cents. Among these coins, the 1793 Liberty Cap large cent led the charge, fetching an impressive $120,000. This article takes a closer look at this rare coin’s journey through the auction, its historical context, and its significance in the world of numismatics.
| Feature | Details |
|---|---|
| Coin Type | 1793 Liberty Cap Large Cent |
| Graded by | Professional Coin Grading Service (PCGS) |
| Grade | Extremely Fine 45 |
| Variety | Sheldon-14 |
| Unique Characteristics | Die crack from the “E” in LIBERTY to the “3” in the date |
| Surface Toning | Reddish-gold, chocolate, and steel-brown |
| Auction Price | $120,000 |
| Previous Auction Prices | $199,750 (2017) and $126,500 (2008) |
| Auction House | Heritage Auction |
| Year of Auction | 2016 |
| Collector | Jon Alan Boka |
| Historical Significance | One of the first U.S. coins minted, highly sought by collectors |
The 1793 Liberty Cap Large Cent
The 1793 Liberty Cap large cent is one of the first coins minted by the U.S. government. As part of the early series of large cents, it is highly sought after by collectors due to its historical value and the limited number of examples that remain today. The coin features the iconic Liberty Cap design, which was used during the early years of the United States. The Sheldon-14 variety, which this particular coin belongs to, is among the rarer types and is considered a key piece for serious collectors of U.S. coins.
Jon Alan Boka’s Collection
Jon Alan Boka’s collection is a prestigious one, known for containing some of the finest examples of early American coinage. In 2016, Heritage Auction Galleries showcased several of his coins, including 58 of his 1794 Flowing Hair large cents. These coins are considered extremely valuable due to their historical significance and condition. The decision to auction some of these rare pieces at Heritage was a big moment in the world of numismatics.
Boka’s collection has a long history of exceptional items, and the 1793 Liberty Cap large cent was no exception. The coin’s sale at Heritage marked a major event, drawing attention from collectors and investors alike. The fact that the coin fetched $120,000 was a testament to its rarity and the enduring appeal of early U.S. coinage.
Grading and Condition of the 1793 Liberty Cap Cent
The 1793 Liberty Cap large cent offered at Heritage was graded by the Professional Coin Grading Service (PCGS) as Extremely Fine 45. This grade indicates that the coin is in excellent condition, with only minor wear. The obverse of the coin features a unique characteristic—a die crack that runs from the “E” in LIBERTY to the “3” in the date. This crack is visible even on coins in lower grades, making this particular coin highly valuable among its peers.
The surfaces of the coin exhibit a rich blend of reddish-gold, chocolate, and steel-brown toning, adding to its appeal. These glossy surfaces give the coin a distinguished look, making it stand out in the eyes of collectors. Despite some trivial marks, the coin’s overall condition and toning helped it command a strong price at the auction.
The Auction Result: $120,000
When the 1793 Liberty Cap large cent went up for auction at Heritage, it was expected to fetch a high price, but the final bid of $120,000 still turned heads. This price was significantly lower than what the coin had sold for in previous auctions—$199,750 in 2017 and $126,500 in 2008, when it was part of the Walt Husak collection. However, the coin’s sale at $120,000 was still a strong result and underscored the ongoing demand for rare and high-quality coins.
The auction price was a reflection of the coin’s importance, but also of the unique market conditions at the time. The fact that it sold for less than it had in previous auctions might indicate changes in the market, but it still demonstrated the enduring value of this historical piece of American coinage.
Why the 1793 Liberty Cap Large Cent is So Valuable
The 1793 Liberty Cap large cent is valuable for several reasons. First, it is one of the earliest coins ever minted by the United States. Coins from this period are highly sought after by collectors due to their historical significance. Second, the Sheldon-14 variety, to which this coin belongs, is a rare type. The presence of the die crack adds further rarity to the coin, making it a desirable piece for collectors who focus on acquiring unique specimens.
Another reason for its high value is its condition. Coins that are well-preserved, like the 1793 Liberty Cap large cent graded at Extremely Fine 45, are more valuable than those in poorer condition. Collectors are willing to pay a premium for coins that are in excellent shape, as they are not only beautiful but also rare.
Finally, the demand for rare U.S. coins, particularly those from the early years of the nation, continues to grow. This demand, coupled with the rarity and quality of the 1793 Liberty Cap large cent, helps explain why the coin sold for such a high price.
Conclusion
The sale of the 1793 Liberty Cap large cent from Jon Alan Boka’s collection at Heritage Auction is a perfect example of the world of rare coin collecting. This coin, with its historical significance, rarity, and excellent condition, continues to capture the interest of collectors and investors alike. Despite selling for less than it did in previous auctions, the final price of $120,000 was still a strong showing and highlighted the enduring appeal of early U.S. coinage.
For collectors, the 1793 Liberty Cap large cent represents more than just a piece of metal—it is a symbol of the early days of the United States and a valuable piece of history. As the market for rare coins continues to evolve, pieces like this one will remain highly sought after by those who appreciate the rich legacy of American coinage. Whether you’re an experienced collector or a newcomer to the world of numismatics, the 1793 Liberty Cap large cent is a reminder of the fascinating and valuable history that can be found in even the smallest of objects.
FAQs
1. What is the 1793 Liberty Cap large cent?
The 1793 Liberty Cap large cent is one of the first coins minted by the U.S. government, featuring a design that symbolizes liberty. It is part of the early series of large cents, which are highly prized by collectors for their historical importance and rarity.
2. Why is the 1793 Liberty Cap large cent valuable?
This coin is valuable due to its age, rarity, and historical significance. The 1793 Liberty Cap large cent is one of the first U.S. coins, making it a key piece for numismatists. Additionally, its condition and unique characteristics, such as the die crack on the obverse, increase its desirability among collectors.
3. What does the Sheldon-14 variety mean?
The Sheldon-14 variety refers to a specific type of 1793 Liberty Cap large cent, as classified by coin expert William H. Sheldon. The number 14 is a reference to the particular variety in Sheldon’s classification system, which helps collectors identify and categorize different coins from the same year.
How was the coin graded?
The coin was graded by the Professional Coin Grading Service (PCGS) as Extremely Fine 45. This means that the coin is in excellent condition with only minor wear and imperfections. It is considered one of the finest examples of the Sheldon-14 variety.
5. What is the significance of the die crack on the coin?
The die crack on the obverse of the coin runs from the “E” in LIBERTY to the “3” in the date. This crack is visible on even lower-grade examples of this variety and makes the coin particularly interesting and valuable to collectors.