1793 Chain Cent : A Collector’s Guide

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The 1793 Chain Cent—occasionally called the “Link” cent in 19th-century numismatic literature—was the first cent the United States Mint produced and the first coin struck in the Mint building in Philadelphia. The Mint struck these cents beginning on March 1, 1793, and then continued intermittently through March 12.

Henry Voigt, the first Chief Coiner of the Philadelphia Mint, executed the design. Moreover, he drew inspiration from the Libertas Americana medal by the famed French engraver Augustin Dupré.

The Design

On the obverse, the Chain Cent depicts Liberty with flowing hair. Above her appears the word LIBERTY, while the date 1793 sits below Liberty’s truncation. On the reverse, a chain of 15 links—the number of states in 1793—surrounds the denomination ONE CENT at the center of the design. In addition, the legend UNITED STATES OF AMERI. (S-1, B-1) or UNITED STATES OF AMERICA encircles the central motif, beginning at the top of the coin and running clockwise.

However, the public did not receive the coin’s design well at first. In fact, some critics called it “Liberty in Chains,” perhaps alluding to the slave trade. For example, a contemporary newspaper report offered this comment:

The American Cents (says a letter from Newark) do not answer our expectations. The Chain on the reverse is but a bad omen for liberty, and Liberty herself appears to be in a fright.

Likewise, another account appeared in the March 18, 1793, edition of Philadelphia’s The Mail, which declared:

The chain on the reverse is but a bad omen for liberty.

Meanwhile, during those 12 days in March, the Mint produced 36,103 pieces from five distinct die combinations. Of those, four shared a common reverse die. Notably, the March 1 delivery featured the AMERI. design variety. By contrast, the other four varieties spelled out AMERICA.

The First Coins Struck at the Philadelphia Mint

Importantly, the Philadelphia Mint produced the cents of 1793 as the first coins struck at the Seventh and Filbert Street facility. The Mint struck the Chain Cent in low relief. Subsequently, its replacement, the Wreath cent, appeared in higher relief.

Deliveries of 1793 Chain Cents

March 1, 1793 11,178 delivered
March 2, 1793 2,009 delivered
March 4, 1793 4,000 delivered
March 5, 1793 3,765 delivered
March 6, 1793 1,573 delivered
March 8, 1793 7,000 delivered
March 8, 1793 7,000 delivered
March 9, 1793 1,000 delivered
March 12, 1793 5,578 delivered
Total: 36,103 coins

1793 Chain Cent, S-1: AMERI.

R-4. Wide date on the obverse. LIBERTY is evenly spaced and equidistant from the top of Liberty’s head to the rim. Lowest lock of Liberty’s hair points down towards the 1 in the date. Obverse die also used on Sheldon 2 die pairing. Only use of the reverse, which features AMERI. Approximately 7,000 coins delivered on March 1, 1793, are believed to be the Sheldon-1 die marriage. The remainder were Sheldon-2. In Die State Noyes A/B, Breen III, light crack appears at the upper left of the first letter of T in STATES, light bulge at the border above U in UNITED. Bulge lower border through 1 in the date. Estimated 118-158 extant.

Later die states have swelling under the U on the obverse and a die crack at TAT.

Finest? PCGS SP-65BN (as of 10/2019). CC#2: Elder-Naftzger-Weinberg MS-64+ CAC Sold 1/10/2019 for $1.5m (Heritage Auctions Lot 4312).

1793 Chain Cent, S-2: AMERICA, Without Periods

R-4+. The variety features a very wide date. Noticeable gap between 17 and 95. LIBERTY is well-spaced and the letters are aligned better than they are laid out on other varieties. AMERICA reverse. Reverse used to strike Sheldon-3, Sheldon-4, and NC-1 varieties. Only Sheldon-1 was struck with a different reverse die. Outside of NC-1, the Sheldon S-2 is the scarcest variety of Chain Cent.

1793 Chain Cent, S-3: AMERICA Without Periods

Sheldon 3, Breen 4. R-3. The obverse die is known as the Leaning R Variety, where the R of LIBERTY is high and tilts to the right. There is no period following LIBERTY. The top of the 3 on the date is aligned with the tip of the bust truncation. The Sheldon-3 reverse is continued from Sheldon-2 and is also used on Sheldon-4, and NC-1. On this reverse, the word AMERICA is spelled out.

Sharp examples that retain their mint gloss are extremely rare and in demand from both early copper specialists and determined type set collectors.

1793 Chain Cent, S-4: AMERICA, LIBERTY.

R-3+. On the Sheldon-4 variety, the reverse die from Sheldon-2 and Sheldon-3 is carried over. Closely Spaced LIBERTY, with I and E high. The date is also close, particularly the final 93. The obverse die features a period after the Y in LIBERTY and after the date. This is the only occurrence of this dual punctuation in the entire large cent series and was likely an act of caprice on the part of the engraver.

The Sheldon-4 is believed to be the final die marriage of the Chain design. It is believed that the mintage of the Sheldon-4 occurred between March 8 and 12. Walter Breen felt that the number produced exceeded 8,800 pieces.

The Cleneay-Atwater-Eliasberg-Loring Specimen sells in 2012 for $1,380,000.

Coin Specifications

• Country: United States of America
• Year of Issue: 1793
• Denomination: One Cent (USD)
• Mintmark: None (Philadelphia)
• Mintage: 36,103
• Alloy: Copper
• Weight: 13.48 g
• Diameter: 26.00 mm
• Edge: Engraved
• Designer: Henry Voigt
• Quality: Business Strike

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