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SERIES: Liberty Cap Cents 1793-1796
LEVEL: Year, MintMark, & Major Variety

1795 1C Reeded Edge, BN (Regular Strike)

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PCGS VG10BN

PCGS Genuine

PCGS G4BN
PCGS #:
1383
Diameter:
28.00 millimeters
Designer:
Attributed to Robert Scot
Weight:
10.89 grams
Edge:
Reeded
Mintage:
Metal Content:
Copper
Auction Record:
$402,500 • PCGS G4 • 11-1-2008 • Bowers & Merena
Go To Grade
  • 2
  • 3
  • 4
  • 6
  • 8
  • 10
  • 63
 
3
225,000
3
4
325,000
2
4
6
475,000
6
8
700,000
8
10
1,265,000
1
10
Rarity and Survival Estimates (Explain)
Grades Survival
Estimate 
Numismatic
Rarity 
Relative Rarity
By Type 
Relative Rarity
By Series 
All Grades 8 R-9.6 2 / 11 2 / 12
60 or Better 0 R-10.1 1 / 11 1 / 12
65 or Better 0 R-10.1 1 / 11 1 / 12
Condition Census (Explain) Show more rows
Pos Grade Thumbnail Pedigree and History
1 VG10 PCGS grade

Clapp - Newcomb - Sheldon - Naftzger - Holmes - Goldbergs 9/2009, Lot 128, $1,265,000

2 VG8 Estimated grade  

Steigerwalt - Clapp - American Numismatic Society

3 G6 estimated grade  

Homer Downing - Robinson Brown - G. Lee Kuntz

3 G4 PCGS grade

The discovery coin for the variety.  David Proskey - Henry C. Hines - Dr. William H. Sheldon - Dorothy Paschal - Newport Sale, 2/1975 - NASCA 11/1977:96

 

5 G4 PCGS grade  

Bowers & Merena 11/2008:1143, $402,500

Condition Census (Explain) Show fewer rows
Pos Grade Thumbnail Pedigree and History
1 VG10 PCGS grade

Clapp - Newcomb - Sheldon - Naftzger - Holmes - Goldbergs 9/2009, Lot 128, $1,265,000

2 VG8 Estimated grade  

Steigerwalt - Clapp - American Numismatic Society

3 G6 estimated grade  

Homer Downing - Robinson Brown - G. Lee Kuntz

3 G4 PCGS grade

The discovery coin for the variety.  David Proskey - Henry C. Hines - Dr. William H. Sheldon - Dorothy Paschal - Newport Sale, 2/1975 - NASCA 11/1977:96

 

5 G4 PCGS grade  

Bowers & Merena 11/2008:1143, $402,500

6 FR2 PCGS grade

Heritage 1/2012:3034, $74,750

7 Genuine

Discovered in 2010

8 Genuine   Holed obverse brockage
Gordon Wrubel: The 1795 Reeded Edge (Sheldon-79) is one of the rarest of all major large cent varieties. Only seven survivors are confirmed, all in low grade. In fact, the finest known is a PCGS graded VG10 coin. In September, 2009, the PCGS graded VG10 became the first large cent to sell for over a million dollars when it brought $1,265,000 in the sale of the Dan Holmes collection.

David Hall: There are only seven known examples of this "experimental" striking. The PCGS VG10 from the Dan Holmes collection is the finest known. It was sold at the Ira and Larry Goldberg auction of the Holmes Collection September 6, 2009 for $1,265,000. The buyer was Florida dealer Greg Hannigan, bidding on behalf of a private collector.


P. Scott Rubin: The 1795 Reeded Edge large cent is the first U.S. copper coin to reach the million dollar figure at auction. This coin is graded only Very Good-10 by PCGS and is the finest known. The reason this coin is so valuable can trace its desirability to the book Early American Cents 1793-1814 by William Sheldon. Dr. Sheldon numbered coins in his book in two categories the first group were coins that could be found by collectors and the second group coins that were so rare that they were called Non-Collectables or NC’s. So it was possible to collect all the regular numbered coins and finish the collection yet still not have every know variety.

The coin given the number 79 in his book was the rarest collectable coin in the numbered series. This coin was the 1795 Reeded Edge variety (the coin is also struck from dies not used with other edge types) which then became the most desirable and hardest coin in the numbered series to obtain, the stopper as it were of the Early Date Large Cents.

Over the years some of the NC coins have become more available than the 1795 S-79 and some collections of large cents have been put together lacking only this number. So waiting on the sidelines for years in some cases has been the only way to complete the Sheldon Numbered collection of Large Cents. When one appears a few collectors with deep pockets are there to compete hence the first million dollar large cent is the S-79.