Category: Flowing Hair Large Cent, Chain Reverse (1793)
Flowing Hair cents, chain reverse (1793) The obverse featured a bust of Liberty with a reverse of a ring of chains. Henry Voigt’s design was almost universally criticized in its time for its unattractiveness and perceived allusion to slavery. It bears the distinction, however, of being the first official coinage minted by the United States federal government on its own equipment and premises. 36,103 were minted. Its low survival rate, in addition to its small mintage, coupled with being the first regular federal issue and a one-year design and type, has created an extremely strong demand from generations of numismatists. As a result, all surviving specimens command high prices ranging from $2,000-$3,000 in the absolute lowest state of preservation to over $500,000 in the highest.