Have you ever encountered an 1793 penny and wondered how much it is worth? There is probably no way you can escape the hype surrounding coins of this historic type, so now you real want to figure out what the real 1793 penny value is. You are in just the right place!
The 1793 penny is among the most covered coins in the U.S., appreciated for its beauty, design, and sentimental and historical value. This rare penny has high values even in low grades, so it is a must-have for any serious collector.
This guide will give you a brief history of this intriguing coin, point out the notable features die varieties, then provide grading tips by the experts.
So let’s get started and find out: How much is a 1793 penny worth?
| 1793 Half Dollar Value Chart | ||||
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1793 Chain Penny (AMERI.) | $12,500 | $32,000 | $90,000 | $1,250,000 |
| 1793 Chain Penny (AMERICA) | $8500 | $23,000 | $70,000 | $1,400,000 |
| 1793 Wreath Penny (Vines and Bars) | $3,175 | $6,500 | $25,000 | $325,000 |
| 1793 Wreath Penny (Lettered Edge) | $3,500 | $7,000 | $25,500 | $335,000 |
| 1793 Liberty Cap Penny | $15,000 | $28,000 | $165,000 | $319,000 |
1793 Penny Value History
The 1793 penny is the first large cent minted by the United States Mint. In view of its reverse designs, we can differentiate three types of 1793 pennies: the Chain, Wreath, and Liberty Cap.
Chain Cent
Production for the Chain cent went from February through March 1793, with a quick stop put to it because of widespread public dissatisfaction with the coin. The obverse was apparently modeled by Henry Voigt, an engraver of some note, depicting the profile of Liberty with wild hair and an anxious-face countenance. Liberty was criticized too much for her representation.
Voigt must have also designed the reverse with a depiction of an interlocked chain of fifteen links, representing the original thirteen colonies and Kentucky and Vermont. On the contrary, this chain started to symbolize slavery in the public’s view, thus stirring more negative sentiment against the coin. By that time, near the end of March, the Mint had run out of planchets; during the interim, a new design to replace the Chain cent was formulated and approved.
The Wreath Cent
Similar to its predecessor, the Wreath cent was the second design type of the 1793 penny and only minted in that year. The obverse, again assigned to Henry Voigt, features a Liberty head with flowing hair, a slight alteration from the design of the Chain cent, which had been widely criticized by the people.
The reverse also replaces the interlocking chain with a wreath, thus giving it its name. There are several variants of the Wreath cent design, which we’ll discuss later in the article on the major ones.
The Liberty Cap Cent
This was the substitute for the Wreath design. Liberty Cap was minted between 1793 and 1796 until they were ultimately phased out and replaced by the Draped Bust design. It did last a little longer than its two predecessors. Joseph Wright did the Liberty Cap large penny, which is seen with Liberty holding a staff topped with a Phrygian cap.
Like the Wreath design, Liberty Cap design has many varieties resulting from differences in Liberty’s head and the shape and size of the numerals. Some of these varieties are extremely valuable, and we will discuss them further on in the article.
All three designs of the 1793 pennies are rare and sought after by collectors. These coins tend to sell for a pretty penny, even in lower grades; thus they can be a highly prized addition to any collection.
1793 Pence Characteristics
When learning the characteristics of 1793 pennies, it makes you much more prepared for grading and authenticating your coin. Learning these physical properties will also allow you to identify large pennies that could be worth money.
Now let’s talk about the three penny features available-us: Chain, Wreath, and Liberty Cap pennies.
Obverse of the 1793 Penny
The liberty head side of the chain penny depicts an obverse portrait of a somewhat anxious-looking liberty with disheveled hair. LIBERTY is inscribed above and 1793 is below.
A more gentle-looking liberty appears on the reverse of the Wreath penny. The word LIBERTY is again inscribed above, and at the bottom, a three-leaved sprig lies below the date, 1793.
The Liberty Cap design penny presents Liberty wearing her hair loose while bearing a staff and a Phrygian cap draped across her left shoulder. The Phrygian hat symbolizes Liberty, presented to freed slaves.
Reverse of the 1793 Penny
The Chain design displays an interlocking chain with 15 links meant to symbolize the 13 original states plus Kentucky and Vermont.
Encompassing the denomination of ONE CENT and the fraction of 1/100, the interlocking chain seems to encircle both the obverse and reverse designs. The engraver felt it best to abbreviate the words UNITED STATES OF AMERICA to UNITED STATES OF AMERI in order to balance obverse and reverse designs as the first working die had less space. However, the full wording of UNITED STATES OF AMERICA appears along the outer edge of all subsequent dies.
The Wreath design consists of a wreath tied at the bottom in a bow, incorporating the denomination of ONE CENT centered within the wreath, while the corresponding fraction of 1/100 appears below the bow. The inscriptions UNITED STATES OF AMERICA are engraved around the rim.
The Liberty Cap design features a sparse laurel tied below in a bow. The denomination of ONE CENT is carved in the wreath while the corresponding fraction of 1/100 shows below the bow. The words UNITED STATES OF AMERICA are inscribed on the coin’s circumference.
Features the penny from 1793. Other pennies might have one or more features.
Chain Penny
- Diameter: 27.00 millimeters
- Weight: 13.48 grams
- Edge: Bars and Vines
- Metal Composition: Copper
Wreath Penny
- Diameter: 28.50 millimeters
- Weight: 13.48 grams
- Edge: Vine and Bars and Lettered: ONE HUNDRED FOR A DOLLAR
- Metal Composition: Copper
Liberty Cap Penny
- Diameter: 28.50 millimeters
- Weight: 13.48 grams
- Edge: Lettered: ONE HUNDRED FOR A DOLLAR
- Metal Composition: Copper
Guide to the Value of 1793 Pennies
What, then, is the worth of a penny dated 1793? The penny’s worth is determined by such things as the condition, rarity, and varieties of the 1793 large cent. Minted at the Philadelphia Mint, which was the only minting facility at that time, all three designs-the Chain, Wreath, and Liberty Cap-are mint coins.
The mintages were very low, few survivors today exist of the 1793 penny, and very few in both circulated and uncirculated states.
Next, let us check how much the given value is for each design of 1793 penny.
1793 Chain Design Penny Value
Between the dates of 1793 and the years 1793 specifically, the Philadelphia Mint struck only 36,103 pennies for Chain. As far as the first reverse die was concerned, the word AMERICA was more abbreviated into AMERI. This peculiarity has been taken to mean that the engraver had failed to space the letterings so that the entire word could fit on the planchet. Almost less than 5,000 preserved examples make the AMERI. variety extremely rare across all grades.
Circulated specimens: Such are very few in number, and prices for all grades will be just out of this world. Poor/Average examples will go for as much as $6,500, while those graded Good (G) call in up to $12,500, while Fine (F) will cost $32,000. An Extremely Fine (XF) will be listed for about $90,000, while a very rare About Uncirculated (AU) piece will obtain up to $310,000.
Mint State examples: Uncirculated examples are honestly unbelievably rare even to advanced collectors. At MS60, any of the survivors will command a price of about $365,000. An extremely rare MS64 sells for as much as $1,250,000.
Auction record: In a record-breaking sale, Heritage Auctions sold an extremely rare MS64+ (Brown) for $1,500,000. On later reverse dies, the word AMERICA was spelled out in full.
This variety is also scarce, but not quite as scarce as the AMERI. Poor/Average Examples go for $,4750 while About Uncirculated (AU58) runs as high as $180,000. Mint States are even rarer and price anywhere between $225,000 for MS60 and $980,000 for MS65 examples.
1793 Wreath Design Penny Value
The strikes of 63,353 Wreath cents occurred in the Philadelphia Mint between April and July of 1793. Early coins bore the special vine-edge and bars-edge, but later replaced this with a lettered edge.
There are several varieties of the Vine and Bars edge, including S-5, 6, 8, 9, 10, and 11a, with the most commonly found being S-9, while NC-2,3,4, and 5 are nearly extinct. The lettered edge has two varieties: S-11b and S-11c, for which the first has two leaves after the letters while the second has one leaf.
So, how much can a 1793 Wreath Penny be sold for?
Here’s what to expect:
- Circulated Examples: These are scarce for the V&B and Lettered coins but command premiums in every grade. For example, examples graded Good (G) will fetch amounts of up to $3175 for V&B cents and as much as $3,500 for the lettered variety.
- Fine specimens will sell in the vicinity of $6,500-7,000, Extremely Fine (XF) will go for as much as $25,000-25,500, and About Uncirculated (AU) will reach upwards of $55,000-$60,000.
- Mint State Examples: These are scarce, exceedingly so. V&B survivors at the MS60 grade will pass at $55,000 and up to $72,500 for the lettered variety. For one extremely rare MS64, expect $150,000- $335,000.
- Auction Record: In 2017, Legend Rare Coin auctioned an MS64 (Browed, Lettered) for a remarkable $293,750 while in 2013 Stack’s Bowers auctioned an MS69 (V&B) for at record $558,125.
FAQS:
Is there any 1793 penny available?
Yes, a few 1793 pennies still exist. Being an old coin, much time is required to find survivors, and those that exist are mostly heavily worn and sometimes require the intervention of a professional coin grading service to identify.
How to identify if 1793 penny is fake?
You can take pen to check. Look into the color of your penny and the patina, which traces evidence of supposed natural got even wear, use magnet so that coin does not stick, and inspect for bubbles and seam lines that indicate casting counterfeit Coin.
How much is a 1793 penny worth?
Depends upon the condition and rarity of the coin. In base form, can expect anywhere from $3,000 to at least a million. Rare varieties draw premiums, and most grades will show 1793 pennies pulling a good price.