1793 Penny Value Checker: Errors List & No Mint Mark Worth

You’re holding one of the most historically important coins ever made in America. The 1793 penny value can range from a few thousand dollars for a heavily worn example to over two million dollars for a gem-quality rarity.

These were the very first cents officially struck by the United States Mint for public circulation. Whether you’ve inherited one or are researching a collection, this guide will walk you through every variety, key auction record, and survival fact you need to know.

 

1793 Penny Value By Variety

Market values for 1793 pennies vary dramatically by variety and condition. The chart below shows current pricing across different types and grades, reflecting real marketplace data.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1793 Penny Worth Money

The all-time auction record for a 1793 penny — and indeed for any U.S. cent — belongs to the Periods variety Chain cent. In January 2015, Heritage Auctions sold this coin in Orlando, Florida at the FUN Convention for an astonishing $2,350,000. That same coin had first appeared at auction in 1879 for just $76.

High-grade examples of the AMERI. and Periods varieties consistently command seven-figure prices. A 1793 AMERI. cent in MS-64 has sold for $1,500,000, while a Periods variety in MS-65 reached $1,380,000.

The rare Strawberry Leaf variety has its own impressive auction history. It fetched $414,000 in 2004 and then shattered that record when it brought $862,500 at a Stack’s auction in January 2009. At a 2020 Stack’s Bowers sale in Las Vegas, the finest known example — graded PCGS VG-10 — was offered again as the centerpiece of the ESM Collection.

These record prices reflect extreme rarity and irreplaceable historical significance. Many of these coins are the finest known examples of their varieties, making each sale a landmark numismatic event.

Also Read: Lincoln Wheat Penny Value (1909-1958)

 

History of The 1793 Penny

The 1793 penny is the first official, regular-issue coin struck in mass quantities by the United States federal government on its own equipment and premises. The Coinage Act of April 2, 1792, authorized the U.S. Mint and specified that copper cents would be worth one-hundredth of a dollar — creating the decimal system Americans still use today.

The Mint opened in Philadelphia, and production began in late February 1793 under Mint Director David Rittenhouse and coiner Henry Voigt. The very first design — the Chain cent — featured Liberty’s flowing hair on the front and a chain of 15 links on the back, representing the 15 states then in the Union.

Public reaction was harsh almost immediately. The Pennsylvania Gazette reported that “Liberty appears to be in a fright,” mocking the wild-haired portrait. More damaging still, critics saw the chain on the reverse as a symbol of slavery rather than national unity. Rittenhouse quickly ordered engraver Adam Eckfeldt to create a new design.

The Wreath cent arrived later in 1793, replacing the chain with an elegant laurel wreath. Interestingly, the Liberty head design on the Wreath cent was inspired by French medalist Augustin Dupré’s famous Libertas Americana medal, struck in Paris in 1783 to celebrate American victories in the Revolution.

By mid-year, variations in spelling and edge design created several distinct Wreath cent varieties. Then in September 1793, the third design arrived — the Liberty Cap cent, created by the talented engraver Joseph Wright. Wright replaced the beehive-like cap with a soft Phrygian cap, the ancient symbol worn by freed slaves in Rome that became iconic in the American and French Revolutions.

Tragically, Wright died during Philadelphia’s devastating yellow fever epidemic of 1793, just months after completing his design. He never saw his coins officially struck. The Liberty Cap design survived him and continued through 1796 before being replaced by the Draped Bust design.

All told, the Mint struck approximately 36,103 Chain cents, 63,353 Wreath cents, and 11,056 Liberty Cap cents in 1793. These low mintages, combined with 232 years of circulation, loss, and deterioration, make every survivor precious.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1793 Penny Rare?

Every 1793 penny qualifies as rare due to extremely low mintages. Download the Coin Value Checker App to see your coin’s precise rarity score and ranking among collectors.

 

Key Features of The 1793 Penny Value Guide

The 1793 penny went through dramatic design changes throughout the year, creating distinct varieties that collectors study closely. Understanding these key features helps you identify which type you have and assess its authenticity and value.

The Obverse Of The 1793 Penny

The obverse design changed three times in 1793. Chain cents show a profile of Liberty facing right with flowing hair and the word “LIBERTY” above, surrounded by 15 chain links along the edge.

Wreath cents also feature Liberty facing right but replaced the chain with a more appealing border. Early strikes spell out “AMERICA” fully, while later ones abbreviate it to “AMERI.” Some varieties include decorative periods after “LIBERTY.”

Liberty Cap cents show Liberty facing right wearing a soft cap on a pole, symbolizing freedom. This design proved most challenging to strike properly, resulting in coins that often show weakness in details.

One important detail for authentication: the Liberty heads on 1793 Chain and Wreath cents were drawn directly onto the die blanks by hand — not sunk from a punch. This makes each die slightly unique and is part of what creates the many varieties specialists study.

The Reverse Of The 1793 Penny

All 1793 penny reverses display the denomination as “ONE CENT” in the center, surrounded by a wreath. The fraction “1/100” appears below, indicating the coin’s value as one-hundredth of a dollar — a reminder to citizens learning America’s new decimal monetary system.

Chain cents use a simple wreath with “UNITED STATES OF AMERICA” around the outer edge. The chain of 15 links on the reverse was actually an intentional echo of the 1776 Continental Currency notes and the 1787 Fugio cents — Benjamin Franklin’s original “linked states” concept.

Liberty Cap reverses are similar but show slight variations in wreath style and letter spacing. The edge lettering on all 1793 cents reads “ONE HUNDRED FOR A DOLLAR” with decorative elements between words, though specific patterns vary by type.

Other Features Of The 1793 Penny

All 1793 pennies measure approximately 26–27mm in diameter and weigh around 13.48 grams. They’re composed of nearly pure copper, giving them a distinctive reddish-brown color that darkens with age — graded as Brown (BN) by PCGS and NGC.

The edge features raised lettering rather than being reeded or plain. Different varieties show different edge patterns — some with vine and bars designs, others with lettered edges showing variations in leaf placement. Remarkably, the Sheldon S-11 Wreath variety is known with all three edge types: lettered, vine and bars, and even a plain edge.

No mint mark appears on 1793 pennies since Philadelphia was the only U.S. Mint operating at the time. All coins are classified using Sheldon numbers — a system still in universal use by PCGS and NGC today.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1793 Penny Mintage & Survival Data

The mintage and survival data reveals why 1793 pennies command such high prices. The U.S. Mint produced approximately 36,103 Chain cents (AMERI., AMERICA, and Periods combined), 63,353 Wreath cents (Vine and Bars Edge and Lettered Edge), only 11,056 Liberty Cap cents, and an estimated 63,353 that include the extremely rare Strawberry Leaf variety.

Survival rates tell an even more dramatic story. Only a tiny fraction of the original mintage exists today. The Strawberry Leaf variety is nearly extinct, with just 4 known examples surviving — a survival rate of 0.0063%. The Periods variety also shows extremely low survival at 0.9002%, with only 325 coins accounted for.

PCGS estimates precisely 187 examples of the AMERI. Chain cent survive across all grades. According to PCGS CoinFacts, roughly 1,000 Chain cents of all varieties survive — about 2.8% of the original mintage. Most of these are heavily worn.

The Vine and Bars Edge type has the highest survival rate at 3.9461%, with approximately 2,500 specimens known. Liberty Cap cents show a 4.0702% survival rate with 450 examples, though some copper specialists estimate as few as 150 truly choice examples exist in collectible condition. Even the most “common” 1793 varieties remain exceptionally rare compared to any later coin series.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1793 Penny Value

Determining your 1793 penny’s value comes down to three steps: identify the variety, assess condition, and check current prices.

First, examine your coin’s design to determine which type you have — Chain, Wreath, or Liberty Cap. Look for spelling variations like AMERI. vs AMERICA and note any periods or edge designs.

Next, evaluate condition by checking wear on Liberty’s hair and letter sharpness. The Coin Value Checker App helps you determine your coin’s grade by comparing it to professionally graded examples.

Finally, research recent auction results for similar coins to understand current market values. For any coin potentially worth more than $500, professional authentication by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) is strongly recommended before any transaction.

 

1793 Penny Value Guides

The 1793 penny exists in three major design types, each with distinct varieties:

Type 1: Chain Cent

• 1793 AMERI.
• 1793 AMERICA
• 1793 Periods

Type 2: Wreath Cent

• 1793 Vine and Bars Edge
• 1793 Lettered Edge
• 1793 Strawberry Leaf

Type 3: Liberty Cap

• 1793 Liberty Cap

Each type represents a different stage in the Mint’s first-year production. The Chain cents came first but faced public criticism. Wreath cents replaced them mid-year with improved designs. Liberty Cap cents arrived last, featuring the most refined design but proving difficult to strike properly. Identifying your specific type and variety is essential for accurate valuation.

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1793 AMERI. Penny Value

The 1793 AMERI. penny holds the singular distinction of being the very first regular-issue coin officially struck in mass quantities by the United States federal government. The abbreviated spelling “AMERI.” on the reverse occurred because the engraver misjudged the available space and could not fit the full word “AMERICA” — making this a spacing quirk of history rather than an intentional choice.

PCGS estimates precisely 187 examples survive across all grades. Most exist in well-circulated grades, with just two known in Mint State (MS-60 or better) — and only one graded as high as MS-65. Even a coin in Poor-1 condition is a significant collectible, with PCGS values ranging from about $3,450 to $5,750 for the lowest grades.

The auction records below show the impressive prices this variety has achieved at major sales.

Market activity data reveals strong collector demand and consistent trading patterns for this historic first-year issue.

 

1793 AMERICA Penny Value

The 1793 AMERICA penny represents a brief transition in the Chain cent series. When the Mint ran short on copper planchets in early March 1793, production paused after striking the AMERI. variety. Upon resuming, the reverse dies were modified to spell out “AMERICA” in full rather than the abbreviated form.

This variety shares the same mintage figures as the AMERI. type — approximately 36,103 coins struck — but features the complete spelling on the reverse. With only 625 examples surviving today, this variety remains exceptionally rare and historically significant as part of America’s first coinage.

The auction records below demonstrate the strong prices this variety achieves at major sales.

Market activity data shows consistent collector interest and competitive bidding for this important first-year issue.

 

1793 Periods Penny Value

The 1793 Periods penny is the variety responsible for the all-time auction record for any U.S. cent. This coin is distinguished by decorative periods appearing after both “LIBERTY” on the obverse and the date “1793.” That small punctuation detail has proven to mean millions of dollars at auction.

In January 2015, Heritage Auctions sold a Periods variety example in Orlando, Florida for $2,350,000 — the highest price ever realized for a U.S. penny. Like other Chain cents, this variety features the interlocking chain reverse with “AMERICA” spelled in full.

With approximately 36,103 coins struck across all Chain varieties and only 325 Periods examples known to survive, this variety ranks among the rarest 1793 cents.

The auction records below highlight the premium prices this distinctive variety commands at major sales.

Market activity data shows strong collector competition for this historically significant first-year type.

 

1793 Vine and Bars Edge Penny Value

The 1793 Vine and Bars Edge penny stands out for its distinctive edge design featuring a decorative vine pattern with vertical bars. This ornamental edge treatment was used on the earliest Wreath cent strikes before the Mint transitioned to lettered edges.

The coin features Liberty in high relief with dramatically flowing hair — a design inspired by Augustin Dupré’s French Libertas Americana medal — and an elegant wreath reverse symbolizing victory. One notable point: the Sheldon S-11 Wreath variety is known with all three edge types, meaning a single pair of dies produced coins with vine-and-bars edges, lettered edges, and plain edges.

With roughly 63,353 Wreath cents minted and approximately 2,500 Vine and Bars examples surviving, this variety offers the highest survival rate among 1793 types yet remains genuinely rare.

The auction records below demonstrate the strong values this early variety achieves at major numismatic sales.

Market activity data reflects consistent collector demand for this historically important transitional design.

 

1793 Lettered Edge Penny Value

The 1793 Lettered Edge penny features the inscription “ONE HUNDRED FOR A DOLLAR” along its edge, marking a transition from the earlier vine and bars design. This edge lettering clearly communicated the coin’s decimal value to citizens adapting to America’s new monetary system — a public education effort built right into the coin’s design.

This variety maintains the elegant Wreath cent design with Liberty’s flowing hair in high relief and the victory wreath reverse. The lettered edge continued into 1794 and 1795, making this the beginning of a multi-year edge style.

With approximately 725 examples surviving from the original 63,353 Wreath cent mintage, this variety shows notably lower survival than the Vine and Bars type.

The auction records below showcase the significant prices achieved by quality examples of this historic variety.

Market activity data indicates steady collector interest in this important transitional edge design.

 

1793 Strawberry Leaf Penny Value

The 1793 Strawberry Leaf penny ranks among America’s greatest numismatic rarities and one of the most debated mysteries in U.S. coinage. Instead of the standard three-leaf sprig above the date found on all other Wreath cents, this variety displays a broad-leafed plant cluster — variously identified as a strawberry plant, cotton plant, or even maple leaves. Numismatic historian Walter Breen and others have examined these coins extensively without reaching a definitive conclusion.

Only four specimens are confirmed to exist, all in heavily circulated condition. Dr. Sheldon originally designated three of the four as “NC” — Non-Collectible — because fewer than three examples were known when he wrote his catalog. One example has resided in the collection of the American Numismatic Society in New York City for decades and is not available for purchase.

The auction history of the finest known example is extraordinary. Boston collector Lorin G. Parmelee bought it in October 1877 for $77.50. It later sold for $79 in 1890, then $120 at a famously contentious 1894 auction. In 2004 it realized $414,000, then $862,500 at a Stack’s sale in January 2009, then was offered again by Stack’s Bowers Galleries in August 2020 from the ESM Collection as the finest known, graded PCGS VG-10.

The auction records below document the exceptional values realized by these legendary rarities at major numismatic events.

Market activity reflects the intense competition among elite collectors whenever an example becomes available.

 

1793 Liberty Cap Penny Value

The 1793 Liberty Cap penny represents the third and final design issued during America’s first year of cent production. Created by engraver Joseph Wright, this design shows Liberty wearing a soft Phrygian cap on a pole — the ancient symbol worn by freed Roman slaves that became an emblem of both the American and French Revolutions.

PCGS has identified only two examples of this variety with legitimate claims to the Mint State grade. The finest known — graded PCGS MS-64 BN — carries a long pedigree stretching to the late 1800s and is currently part of the High Desert Collection in the PCGS Set Registry. Previous owners include Thomas Cleneay, William H. Woodin, and Louis Eliasberg, three of the most celebrated names in American numismatics.

With only 11,056 pieces struck and approximately 450 surviving (some estimates suggest as few as 150 in truly collectible grades), this variety has the lowest mintage of any regularly produced 1793 cent type.

The auction records below reveal the premium prices commanded by this historically significant final 1793 design.

Market activity data shows strong demand from both type collectors and early copper specialists.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1793 Penny Error List

While 1793 pennies are primarily collected by design type and Sheldon variety rather than traditional mint errors, several notable die characteristics and production anomalies exist from this early minting period. The primitive equipment and copper quality of 1793 mean that virtually every coin has some form of production quirk.

1. 1793 Penny Die Cracks

Die cracks represent the most common variety characteristic on 1793 pennies. The die steel used to produce the Chain cents was of notoriously poor quality — some dies reportedly cracked after only a handful of strikes were made. This forced the Mint to use multiple dies in quick succession, creating distinct early and late die states that collectors actively seek.

Liberty Cap varieties show dramatic die cracks bisecting the entire obverse. Wreath cents developed reverse cracks running through “AMERICA” letters, while Chain cents exhibit cracks around “STATES” on the reverse.

Collectors categorize these by die state — early, intermediate, or late — with late states showing the most prominent cracks. These appear as raised lines on coins since metal flowed into die fractures during striking. Major die cracks can significantly increase a coin’s value when they create dramatic visual effects.

2. 1793 Penny Off-Center Strikes

Off-center strikes on 1793 pennies rank among the rarest errors in American numismatics. The hand-operated screw presses of 1793 required each planchet to be carefully positioned by hand before striking, making genuine misalignments extremely unusual.

Any off-center 1793 cent is remarkable given this manual process. An off-center strike resulted from a planchet shifting after positioning — highly unlikely under such supervised conditions.

Genuine examples typically show 10–40% of the design missing, with greater off-center percentages commanding higher premiums. Any authenticated example represents a museum-quality rarity documenting human error in early U.S. Mint operations.

3. 1793 Penny Planchet Flaws

Planchet flaws appear frequently on 1793 pennies due to primitive copper refining methods during the Mint’s first operational year. The copper planchets were imported from Britain, and the quality was inconsistent — contributing to the rough, granular texture seen on many surviving examples.

Common issues include surface porosity from impure copper, laminations where metal layers separate, and various pits or surface voids. Dramatic flaws include curved clips where planchet punches overlapped, or complete lamination peels revealing underlying layers.

While these technically reduce a coin’s technical grade, collectors and graders often accept them as period-correct characteristics. Interesting planchet varieties can command premiums when flaws add character without severely impacting design visibility.

4. 1793 Penny Wrong Planchet / Thick Planchet Errors

A small number of 1793 cents are known struck on planchets that vary significantly from standard weight. The standard cent weighed 208 grains at first, but was reduced to 168 grains late in 1793 due to a sharp rise in copper prices. Coins struck on early heavy planchets after the weight change, or on undersized planchets, represent true transitional errors from America’s first year of coinage.

These transitional weight varieties are catalogued by Sheldon and other variety specialists. Any example with a dramatically different weight from the standard should be examined by a specialist before attribution.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where To Sell Your 1793 Penny?

Given the significant value of 1793 pennies, professional authentication and grading is essential before selling. PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company) are the two leading grading services, and a certified coin will always sell for more than a raw (uncertified) example of the same coin.

Major auction houses with strong track records for early American copper include Heritage Auctions and Stack’s Bowers Galleries. Stack’s Bowers has sold multiple record-setting 1793 cents, including the finest known Strawberry Leaf, while Heritage conducted the all-time record $2,350,000 Chain cent sale in 2015.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

FAQ About The 1793 Penny Value

1. How much is a 1793 penny worth today?

Even the most heavily worn 1793 penny is worth thousands of dollars — no exceptions. PCGS values the AMERI. Chain cent at roughly $3,450–$5,750 in the lowest grades (Poor-1 to About Good-3), rising to around $25,000 in Fine-12 and $85,000 in XF-40.

Gem uncirculated examples have crossed $1,000,000 at auction. The Strawberry Leaf variety, even in heavily circulated condition, has sold for over $800,000.

2. How can I tell if my 1793 penny is authentic?

Start with the basics: the coin should weigh approximately 13.48 grams and measure 26–27mm in diameter. A magnet test is useful — genuine copper coins won’t stick to a magnet at all.

Examine the edge closely. Chain and Wreath cents have either a vine-and-bars or lettered edge; Liberty Cap cents have a lettered edge on the earliest examples and a plain edge on later issues. Compare design elements against certified examples on PCGS CoinFacts.

Beware of cast counterfeits showing bubbles, seam lines, or incorrect details. Given the extreme value of 1793 pennies, professional authentication by PCGS or NGC is absolutely essential before any transaction.

3. What’s the difference between the 1793 penny varieties?

The 1793 penny exists in three major design types. The Chain cent (first struck) features an interlocking chain reverse with either “AMERI.” or “AMERICA” spelling, and the rarest variety adds periods after “LIBERTY” and the date.

The Wreath cent replaced the Chain cent mid-year with an elegant wreath reverse. It comes in Vine and Bars Edge, Lettered Edge, and the extremely rare Strawberry Leaf varieties.

The Liberty Cap cent arrived last, showing Liberty wearing a freedom cap on a pole. Each type has distinct characteristics, rarity levels, and values that require careful examination to identify correctly.

4. Who designed the 1793 penny?

The Chain cent and Wreath cent were designed by Henry Voigt, the Mint’s first coiner who also served as a watchmaker. Voigt drew the Liberty heads directly onto the die blanks by hand, giving them their slightly imperfect, hand-crafted appearance.

The Liberty Cap cent was designed by Joseph Wright, a more formally trained and talented artist. Wright tragically died in Philadelphia’s yellow fever epidemic of 1793, just months after completing his design — never seeing his coins officially struck in circulation.

5. Can I still find a 1793 penny in circulation today?

No. It is impossible to find a genuine 1793 penny in modern circulation. Every surviving example is already in collector hands or museum collections — there are only a few thousand known to exist across all varieties combined.

If someone claims to have found one in pocket change, it is either a replica, a counterfeit, or a misidentified coin. A common source of confusion: British halfpennies dated 1793 circulated widely in early America and are occasionally mistaken for U.S. cents by beginners.

6. What is the “Sheldon number” system and how does it apply to 1793 pennies?

The Sheldon number system was created by Dr. William H. Sheldon, first in his 1949 book Early American Cents and revised in the 1958 edition known as Penny Whimsy. Each die variety of large cent from 1793–1814 received a unique “S-number” (such as S-1, S-2, S-3) based on die characteristics.

The system is universally used today by PCGS and NGC when attributing early cents. Sheldon also introduced the 1–70 numerical grading scale — a creation so influential that it evolved into the grading system used for all U.S. coins worldwide today.

7. What does the “BN” designation mean on 1793 penny grades?

BN stands for Brown, a color designation used by PCGS and NGC specifically for copper coins. It means the coin’s surface has oxidized to a brown tone — the most common color for 1793 pennies given their extreme age.

The three copper color designations are BN (Brown), RB (Red-Brown), and RD (Red). No 1793 pennies are known to exist with original Red surfaces. The PCGS notes that no Red-Brown (RB) or Red (RD) examples exist for the 1793 Liberty Cap cent — all known examples are Brown.

8. How many 1793 pennies still exist today?

Estimates vary by variety. For Chain cents of all types, PCGS data and researcher estimates suggest roughly 1,000–1,500 examples survive across all grades. For Wreath cents, a few thousand are known. Liberty Cap cent specialists estimate about 450 examples exist, with some putting the number of truly choice, problem-free coins as low as 150.

The rarest of all is the Strawberry Leaf Wreath cent, with only four confirmed specimens — three in private hands and one in the American Numismatic Society collection in New York.

9. What reference books do serious 1793 penny collectors use?

The essential reference is Penny Whimsy by Dr. William H. Sheldon (revised 1958, reprinted 1976), which covers all large cent varieties from 1793–1814 with rarity ratings and die descriptions. It introduced the S-number system still in use today.

Other important resources include Walter Breen’s Encyclopedia of Early United States Cents 1793–1814 (edited by Mark Borckardt, 2000) and the journal Penny-Wise, published by the Early American Coppers (EAC) club. EAC was founded in 1966 and today has approximately 800 specialist members dedicated to these coins.

10. How does color designation affect the 1793 penny value?

For 1793 pennies, color is less of a value driver than for later copper coins — simply because virtually all surviving examples have turned Brown (BN) after 230+ years. PCGS notes that no Red (RD) examples are confirmed for any 1793 variety.

What matters far more is surface quality within the BN category. A coin with attractive medium-brown surfaces and original skin commands a strong premium over a coin that has been cleaned, corroded, or artificially darkened. Graders and specialists look carefully at whether the brown color appears natural and consistent or has been artificially altered.