Rare 1795 Jefferson Cent Fetches $264,000 at Auction

The 1795 Jefferson Head Cent is a rare and historically significant coin that has captivated numismatists and collectors alike.

In January 2019, a specimen of this coin sold for an impressive $264,000 at a Heritage Auctions event, underscoring its exceptional value and desirability.

Historical Background

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In the late 18th century, the United States Mint was in its formative years, experimenting with various coin designs and production methods. John Harper, a Philadelphia machinist, sought to demonstrate his coinage capabilities to the Mint.

In 1795, he produced a series of copper cents outside the official Mint facilities, known as the Jefferson Head Cents due to their resemblance to Thomas Jefferson’s profile. These coins were not intended for public circulation but were crafted to showcase Harper’s proficiency in coin production.

Design and Features

The Jefferson Head Cent features a distinctive design:

• Obverse: Depicts a profile resembling Thomas Jefferson, with the inscription “LIBERTY” and the date “1795.”
• Reverse: Displays a wreath encircling the words “ONE CENT,” with the edge inscription “UNITED STATES OF AMERICA.”

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The coin’s edge is plain, distinguishing it from other cents of the era that often featured lettered edges.

Rarity and Value

The 1795 Jefferson Head Cent is exceedingly rare, with only a handful of specimens known to exist. Its scarcity, combined with its unique history and design, makes it highly coveted among collectors.

The coin’s value is further enhanced by its condition; higher-grade examples command premium prices at auctions.

Auction Record

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In January 2019, a 1795 Jefferson Head Cent in XF40 grade was sold at Heritage Auctions for $264,000.

This sale set a record for the type, highlighting the coin’s exceptional desirability and the robust market for rare numismatic items.

Grading and Authentication

Coins are graded on a scale from 1 to 70, with higher numbers indicating better condition. The 1795 Jefferson Head Cent that sold for $264,000 was graded XF40, indicating it was in excellent condition for its age.

Authentication by reputable grading services is crucial to verify the coin’s authenticity and condition, significantly impacting its market value.

Collecting the Jefferson Head Cent

For collectors interested in acquiring a Jefferson Head Cent, it’s essential to:

• Research: Understand the coin’s history, design variations, and market trends.
• Authenticate: Ensure the coin is certified by a reputable grading service.
• Preserve: Maintain the coin’s condition to preserve its value.

The 1795 Jefferson Head Cent stands as a testament to early American coinage and the nation’s numismatic heritage. Its rarity, historical significance, and unique design continue to captivate collectors and enthusiasts, making it a prized possession in the world of numismatics.

FAQs

What is the 1795 Jefferson Head Cent?

A rare copper cent minted outside the U.S. Mint by John Harper in 1795, featuring a design resembling Thomas Jefferson.

Why is the 1795 Jefferson Head Cent valuable?

Its rarity, unique history, and distinctive design make it highly sought after by collectors.

How many 1795 Jefferson Head Cents are known to exist?

Only a handful of specimens are known, making it extremely rare.