1793 Penny Coin Value: Worth Up To $10,000 Today | A Piece Of History

How Much is a 1793 Penny Worth?

Have you come across a 1793 penny and wondered how much it could be worth? You’re likely aware of the excitement surrounding this historic coin and are eager to learn its true value. Well, you’re in the right place!

The 1793 penny is one of the most coveted U.S. coins, prized for its design, history, and collectible worth. Even in lower grades, this rare penny commands a premium, making it a must-have for any serious collector.

This guide will take you through the coin’s fascinating history, highlight its distinct die varieties, and share expert tips on grading. You’ll also learn about minting errors that could make your penny even more valuable.

Let’s dive in and find out: What’s the value of a 1793 penny?

1793 Penny 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)	$8,500	$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

History of the 1793 Penny

The 1793 penny was the first large cent produced by the United States Mint. There are three distinct types, each with a different reverse design: the Chain, Wreath, and Liberty Cap.

The Chain Cent

The Chain penny was minted only between February and March 1793. It was quickly discontinued after public outcry over its design. Henry Voigt, an instrument maker, is believed to have engraved the obverse, which featured a profile of Liberty with messy hair and a distressed expression. This design was criticized for Liberty’s unflattering appearance.

Voigt also designed the reverse, featuring a chain with 15 links, symbolizing the original 13 colonies plus Kentucky and Vermont. Unfortunately, the public interpreted the chain as a symbol of slavery, which led to further dissatisfaction. By the end of March, the Mint halted production of the Chain cent, and a new design was approved.

The Wreath Cent

The Wreath cent was introduced as the second design of the 1793 penny, also minted in that year. The obverse, attributed again to Voigt, shows Liberty with flowing hair, a more refined version of the previous design. The reverse replaced the chain with a wreath, from which the coin gets its name. Various variations of the Wreath cent exist, which we’ll explore later.

The Liberty Cap Cent

The Liberty Cap design succeeded the Wreath design and was minted from 1793 to 1796, lasting longer than its predecessors before being replaced by the Draped Bust design. Designed by Joseph Wright, the Liberty Cap penny depicts Liberty holding a staff topped with a Phrygian cap, symbolizing freedom.

Like the Wreath design, the Liberty Cap features several varieties, including differences in Liberty’s head and the shape of the numbers. Some of these varieties are highly valuable, and we’ll delve into them later.

All three 1793 penny designs are rare and in high demand among collectors, making them a valuable addition to any collection.

Features of the 1793 Penny

Familiarizing yourself with the features of the 1793 penny will help you grade and authenticate your coin. Understanding these physical traits can also aid in identifying large pennies worth money.

Let’s take a closer look at the features of the Chain, Wreath, and Liberty Cap pennies.

Obverse of the 1793 Penny

• Chain Penny: Features Liberty’s portrait with messy hair and a somewhat worried expression. The word LIBERTY is at the top, with the date 1793 below.
• Wreath Penny: Shows a gentler-looking Liberty, with LIBERTY at the top and a three-leaf sprig at the bottom, followed by 1793.
• Liberty Cap Penny: Depicts Liberty with flowing hair, holding a staff with a Phrygian cap slung over her left shoulder. The Phrygian cap symbolized freedom, a gift to freed slaves.

Reverse of the 1793 Penny

• Chain Penny: Displays a chain with 15 links, representing the 13 original states plus Kentucky and Vermont. The words ONE CENT and 1/100 encircle the chain, with UNITED STATES OF AMERI. (an abbreviation used due to space limitations) at the top. Later dies fully spell UNITED STATES OF AMERICA.
• Wreath Penny: Shows a wreath tied in a bow, with ONE CENT in the center and 1/100 below the bow. UNITED STATES OF AMERICA is inscribed around the edge.
• Liberty Cap Penny: Features a sparse laurel wreath tied at the bottom in a bow, with ONE CENT in the center and 1/100 below. UNITED STATES OF AMERICA is inscribed around the circumference.

Other Features of the 1793 Penny

• Chain Penny:
  • Diameter: 27.00 mm
  • Weight: 13.48 grams
  • Edge: Bars and Vines
  • Metal: Copper
• Wreath Penny:
  • Diameter: 28.50 mm
  • Weight: 13.48 grams
  • Edge: Vine and Bars or Lettered: ONE HUNDRED FOR A DOLLAR
  • Metal: Copper
• Liberty Cap Penny:
  • Diameter: 28.50 mm
  • Weight: 13.48 grams
  • Edge: Lettered: ONE HUNDRED FOR A DOLLAR
  • Metal: Copper

1793 Penny Value Guides

The value of a 1793 penny is influenced by its condition, rarity, and specific varieties. All three designs—Chain, Wreath, and Liberty Cap—were minted at the Philadelphia Mint, which was the only minting facility at the time.

Due to low mintage, very few 1793 pennies have survived, making them valuable in both circulated and uncirculated conditions.

1793 Chain Design Penny Value

The Philadelphia Mint struck only 36,103 Chain pennies. Early reverse dies used the abbreviation AMERI. for AMERICA due to space constraints. This variety is rare, with fewer than 5,000 known survivors.

Here’s a breakdown of the values:

• Circulated Examples: These coins are scarce and will fetch premium prices in all grades. Poor/Average examples can sell for $6,500, Good (G) examples can bring up to $12,500, and Fine (F) examples can reach $32,000. An Extremely Fine (XF) example can be worth as much as $90,000, while a rare About Uncirculated (AU) piece could fetch $310,000.
• Mint State Examples: Uncirculated examples are exceptionally rare. An MS60 will sell for up to $365,000, and an MS64 can command up to $1,250,000.
• Auction Record: A rare MS64+ Chain penny fetched $1,500,000 at a Heritage Auctions sale.

1793 Wreath Design Penny Value

The Mint produced 63,353 Wreath cents between April and July 1793. Some coins feature a vine and bars edge, while others have a lettered edge.

Here’s what you can expect for the Wreath penny:

• Circulated Examples: Good (G) examples can fetch $3,175 for Vine and Bars and up to $3,500 for Lettered coins. Fine examples can bring $6,500-$7,000, while Extremely Fine (XF) examples may go for $25,000-$25,500.
• Mint State Examples: MS60 examples can sell for $55,000, with MS64 fetching between $150,000 and $335,000.
• Auction Record: An MS64 Lettered Wreath penny sold for $293,750 in 2017, and an MS69 Vine and Bars example fetched $558,125 in 2013.

1793 Liberty Cap Design Penny Value

The Mint produced just 11,056 Liberty Cap pennies, making them highly sought after by collectors.

Here’s a breakdown of the values:

• Circulated Examples: Nice, problem-free coins will fetch a premium. Poor/Average examples can bring up to $10,000, Good (G) examples can fetch up to $15,000, and Fine (F) examples can bring as much as $28,000.
• Mint State Examples: Only two Mint State examples exist, with the finest graded MS64. These coins can reach up to $319,000.
• Auction Record: An MS64 Liberty Cap penny sold for $319,000 at a 1996 Bowers & Merena auction.

1793 Penny Grading

Grading 1793 pennies can be tricky, as many are heavily worn, and some show uneven wear. Pay close attention to the color, surface, and wear, especially at high contact points such as Liberty’s hair and forehead.

Rare 1793 Penny Errors

There are several minting errors that can add value to your 1793 penny. These include:

1. Die Crack Error: This occurs when a crack forms on the die surface, creating a raised crack or bump on the coin’s surface. These errors typically sell for $20-$50, depending on size and appearance.
2. Off-Center Error: This happens when the die and planchet are misaligned, causing the design to be struck off-center. Off-center 1793 pennies can sell for $50-$100, depending on the extent of the misalignment.
3. Doubled Die Error: This error occurs when the die strikes the planchet multiple times at different angles, resulting in doubling of the design. Doubled die errors can add $50-$100 to the regular value of your penny.

Where to Sell Your 1793 Penny

If you’re looking to sell your 1793 penny, check out the best online platforms for coin dealers. Make sure to compare reviews and ratings to find the best place to get top value for your coin.