1794 Large Cent Value: How Much Is It Worth Today?

Are you putting together a collection of historical coins? The 1794 large cent is one of those iconic dates that can add value to any historical coin collection. It was one of the earliest coins the United States Mint every produced, proving to be a popular replacement for the much-criticized 1793 Chain and Wheat Cents.

If you’re eager to learn more about the 1794 large cent value, this guide will help! We’ll take you through the coin’s interesting history and its unique features. You will also learn insider tips on how to grade and authenticate this historic coin, and discover rare, high-value minting errors that are worth adding to your collection.

Let’s jump in and find out: How much is a 1794 large cent worth? Is this old coin a key date and is it worth collecting?

1794 Large Cent Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1794-No Mint Mark Large Cent Value	$1,085	$1,800	$4,600	$230,000

 

 

History of the 1794 Large Cent

The 1794 Large Cent, also known as the Liberty Cap large cent is among the earliest large cents struck by the United States Mint. It was struck between 1793 and 1796, after replacing the Chain Cent and Wreath Cent, the first large cents struck by the Mint.

The Chain and Wreath cents were only struck for a few months in 1793 but faced so much public criticism that the Mint moved swiftly to replace them. The new Liberty Cap large cent of 1794 seems to have been more popular than its predecessors as it was minted until 1796.

What really stands out about the 1794 large cent is that it features three obverse designs: the 1793, 1794, and 1795 head, each showing slight differences in the shape of Liberty’s head or the size and shape of the digits in the date. Some of these variations greatly affect the value of the large cent.

Although Joseph Wright designed the 1793 large cent, the 1794 large cent with a ’93, ’94, and ’95 head were all designed by Chief Engraver Robert Scot.  These die varieties, historical status, and their noticeably low mintage make the 1794 large cents highly collectible. This coin is definitely a worthwhile addition to any collection and is particularly valuable in higher (albeit rare) grades.

Also read: 12 Most Valuable Lincoln Penny Worth Money

 

Features of the 1794 Large Cent

Let’s now explore the standout features of the 1794 large cent. Understanding the physical details of this coin will help with grading and authenticating, and will be greatly important when identifying Liberty Cap large cents worth money.

Here’s what to watch out for:

Obverse of the 1794 Large Cent

The obverse shows a right-facing Liberty with her hair flowing lightly in the wind. A staff topped with a Phrygian cap lean over her left shoulder. The word LIBERTY appears above her portrait along the rim while the date, 1794, is shown at the bottom.

The 1794 large cent has three obverse designs—the ’93, ’94, and ’95 heads. The head of 1793 shows a double-chinned Liberty with a smaller head.

Most of the 1794 large cents are of the Head of 1794 variety. On these coins, Liberty’s bottom hair strand shows a well-defined, tight curl. 

The Head of 1795 large cents were struck with the same die used for the 1795 cents. On this coin, the curl on the bottom curl is shorter, almost like a semi-circle.

Reverse of the 1794 Large Cent

The reverse features an open wreath tied at the bottom with a ribbon. The denomination, ONE CENT, is etched at the center of the wreath while the corresponding fraction, 1/100, is positioned just below the ribbon.

The words UNITED STATES OF AMERICA, are inscribed along the rim, occupying most of the coin’s circumference. Just like on the obverse, the rim is decorated with tiny, inward-facing denticles.

Additional Features of the 1794 Large Cent

 Other notable features of the 1794 large cent are:

• Diameter: 28.00 millimeters
• Weight: 13.48 grams
• Edge: Lettered: ONE HUNDRED FOR A DOLLAR
• Metal Composition: Copper

Also read: 13 Most Valuable Wheat Penny Worth Money

 

1794 Large Cent Value Guides

So, how much can you expect from a 1794 large cent? Generally, these old, historical coins will sell for a premium but the actual value of each will depend on the coin’s condition and rarity of the die variety.

The 1794 large cent was minted at the Philadelphia Mint, the only existing mint at the time. These coins do not bear a mintmark.

The Head of 1793 large cents are the rarest of the three die varieties. These coins are in high demand and will usually fetch a premium. The Head of 1795 are also genuinely rare across all grades and will command equally high prices.

The Head of 1794 variety is the most common but even these pieces will sell for far more than their face value across all grades.

Here’s a breakdown of the value of the 1794 large cent:

• Circulated Examples: Most survivors are graded Good and to Very Fine as they show heavy to moderate wear. Examples graded Good (G) will sell for as much as $550 while a Fine (F) one will bring in up to $1,200. Rare pieces graded Extremely Fine (XF) will sell for up to $5,350 while an About Uncirculated (AU58) will command prices as high as $11,750.
• Mint State Examples: Uncirculated 1794 large cents are extremely rare and highly sought-after by collectors. Even in lower grades, these coins will fetch a premium, if you are lucky enough to come across one. At MS60, pieces can fetch as much as $13,850, $24,000 for an MS63, and up to $42,500 for an MS64. Gems are hard to come by but when they do, they’ll sell for top price. For example, an MS65 will command prices of up to $178,000 or more.
• Auction Record: In a 2009 sale, Goldberg Auctioneers auctioned a Very Fine (VF25) example of a Head of 1793 for a record-breaking $89,125. An extremely rare Head of 1794 graded MS66+ was sold for a remarkable $246,750 at a 2018 Legend Rare Coin Auctions sale. Lastly, a VF30 was auctioned in 2014 at a Heritage Auctions sale for a staggering $70, 500.

Also read: 17 Most Valuable Indian Head Penny Worth Money

 

1794 Large Cent Grading

Grading 1794 large cents presents many challenges. For one, these early coins have extensive environmental damage as well physical surface damage and imperfections that can make them less desirable. That said, some examinable details can help you approximate your cent’s grade. In particular, pay attention to the key obverse and reverse features and the extent of wear.

On lower grade coins, the outline might be visible but most of the details will be worn and faint. Examine high contact points, which include Liberty’s hair and curls, the inscription LIBERTY, and the date. On the reverse, pay close attention to the wreath leaves and the inscription, ONE CENT.

Mid-grade coins will show moderate wear with most of the details and outline visible. Liberty’s hair strands will be more defined and the inscriptions readable. On the reverse, the leaves will show more separation and definition.

Uncirculated 1794 cents are the most desirable as they display full mint luster and few, if any, surface flaws. All details on the obverse and reverse are visible and well-defined. Such specimens are, however, rare and command premium prices.

Check out this video to learn more about grading and collecting Large Cents.

 

Rare 1794 Large Cent Errors List

Early coins such as the 1794 large cents were struck by hand and due to the meticulousness of the manual minting process, these coins have very few, if any, minting errors. That said, some few notable errors do come up in the 1794 large cent series.

Here are some errors worth checking out:

1. 1794 Large Cent Struck on a Defective Planchet Error

As the name suggests, this is an error in which the cent has been struck on a planchet that already has flaws on its surface. The type of flaws can vary from one coin to another but generally, these will come in the form of die cracks, cuds, digs and lamination errors.

The value of the error depends on the nature of the defect; dramatic and unique planchet errors will generally be worth more. In one instance, a seller earned $3, 950 for a 1794 large cent graded Extremely Fine (XF40) struck on a defective planchet error, making this one of the most valuable 1794 large cents.

2. 1794 Large Cent Off-Center Strike Error

Another minting error seen on 1794 large cents is the off-center. This error occurs due to a misalignment between the die and planchet, resulting in the design being struck away from the center and more toward the coin’s edge. This leaves one side of the coin with more space while the design is crumped to the other side.

The value of an off-center error depends on the extent of the misalignment. A 40% off-center strike will usually be more dramatic, eye-catching, and generally, more valuable than one with a 5% misalignment.

An eBay collector paid a whopping $2,300 for a 1794 large cent grade XF30 with a 20% off-center strike error.

3. 1794 Large Cent Doubled Die Error

A doubled die error is one in which some of the design elements and inscriptions show visible doubling. This occurs when the die strikes the planchet at different angles multiple times. Inscriptions such as LIBERTY and the date, 1794, on the obverse are particularly prone to doubling.

As a general rule, the stronger or more visible the doubling, the more valuable the error tends to be. Most of the time, you will need a magnifier to notice a doubled die error, especially on early coins as they are already heavily worn.

One of the most valuable 1794 large cents with a doubled die error was auctioned for $1,700, making this a worthwhile addition to any collection.

4. 1794 Large Cent Struck-Through Error

Sometimes, tiny foreign objects can come between the die and planchet during the minting process. When struck, the objects leave their impression on the coin’s surface, resulting in a struck-through error.

Common items that can be struck between the die and planchet are drops of grease, pieces of cloth, specks of metal, wood chips, hair strands, dust, and debris.

Dramatic and unique struck-through errors will usually command higher prices than subtle ones. In 2014, an eBay collector paid an impressive $1,540 for a Fine (F15) 1794 large cent with an obverse struck-through error.

Also read: 11 Most Valuable Wheat Penny Errors

 

Where to Sell Your 1794 Large Cent?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. 

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

 

FAQs

How much is a 1794 large cent worth today?

The 1794 large cent value depends on the coin’s condition. Prices range from $275 for examples graded Poor/Average to $77,000 or more for extremely rare gem specimen. Due to the coin’s rarity, even at lower grades, you might be able to secure a good price for your large cent.

How many 1794 large cents were made?

The Philadelphia Mint struck only 918, 521 1794 large pennies. Today, this might seem like a low mintage for a regular strike, circulating coin but at the time, it was a considerably high mintage. The increase in production could partly be attributed to the Mint’s desire to appease the public after ending production of the much-criticized Chain and Wheat cents. Despite the relatively high mintage, survivors are extremely few today and most are heavily worn.

Do 1794 large cents exist today?

Yes, you can still come across 1794 large cents. But, these historic coins are extremely rare and the population of existing survivors today is very small. This can make finding these 1794 large cents quite difficult—if you come across one, it would certainly be a rare find.