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When you hold an example of the 1793 Chain
AMERI. Large Cent in your hand, did you know that numismatic
researchers have concluded it to be the very first coin produced for
circulation by the U.S. Mint? History in your hands indeed!
One has to wonder why the maker of the AMERI. die felt the need to
abbreviate the word "America" by two letters. This Chain cent has a
close cousin of nearly equal rarity and importance, the 1793 AMERICA
variety, where no abbreviation is used.
The chain was meant to symbolize unity, but
that's not how it was viewed. Soon after the Chain cents hit the
streets of Philadelphia in March of 1793, it stirred controversy. How
ironic, critics noted, that the first US coin handled by the public at
large highlighted a symbol suggestive of bondage? Did not this nation
recently fight a revolution to win liberty for its people?
Under the weight of justifiable criticism, the chain was replaced by a
wreath after only a few weeks of production. Of the 36,103 Chain cents
struck, only a small handful of survivors exist today, perhaps 1% to 2%
of the original number.
As early as the 1860's, collectors recognized the historical
significance of the 1793 Chain AMERI. Large Cent. Records from meetings
of the Boston Numismatic Society document this. This relic from the
earliest days of the United States has remained a rare, key date
favorite ever since.
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