How to Collect US large cents ?
Large cent collecting has been an important part of U.S. numismatics for over 150 years, and it remains so today. A tremendous amount of information has been published about this interesting series, making it easy for you to jump right in with confidence.
By type:
- Difficulty rating: Moderate. The 1793 chain cent is a money coin; that is, it's always available if you're willing to pay the price. The 1793 wreath cents are slightly less dear but not by much. Nice coins of either type will cost a big six-figure number. The remaining types are all readily available in most grades, but only the matron-head and Braided Hair types can be called inexpensive in high grades.
- Cost estimate: In Fine condition, a type set of large cents runs approximately $40,000, with the bulk of the money tied up in the chain and wreath types. In very fine, the cost jumps to more than double that. Expect an even more dramatic increase if you attempt a type set in Extremely Fine condition.
By date:
- Difficulty rating: Moderate. There are no stoppers in this series. Sure, the 1793 chain and wreath cents are expensive and the 1799 and 1804 large cents are rare, but there are no super-rarities.
- Cost estimate: In Fine condition, expect an outlay of approximately $65,000. Because of the difficult dates, be ready for dramatic price jumps as you move up even a single grade. If you're not too concerned about consistent quality, settle for lower grades in the early dates and better grades in the later dates. Many of the Uncirculated dates in the 1840s and 1850s are real bargains.
By die variety:
- Difficulty rating: Nearly impossible to impossible. It has only been done 13 times in the past hundred years. The early dates (1793– 1814) contain hundreds of varieties, some of which are unique or nearly so, and many of which are extremely rare. The middle dates (1816–1839) allow for greater possibilities of completion, but be prepared to take out a second mortgage for some of the varieties. When collecting the late dates (1840–1857), the real challenge is telling the darn things apart.
- Cost estimate: The moon! If you said to us, "Guys, here's a million bucks — go build me a variety set of large cents," we'd turn you down. That's how serious large cent varieties have become. Nevertheless, despite the costs and the obstacles to completion, thousands of collectors actively collect large cents by variety.
Questions and Answers
Here's a simplified explanation of a die variety: A die is a cylindrical piece of steel with a design on one end. An engraver or die sinker cuts a design into the steel. Stamping a blank disk of metal with the die creates a raised design on the blank. To make any coin, you actually need three dies, but for the purpose of most die varieties, generally only two dies — one for the obverse and one for the reverse — are needed.
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