1798 Large Cent Coin Value: How Much Is It Worth Today?

Are you collecting Draped Bust cents and wondering about the value of the 1798 large cent? Our guide will help! We’ll walk you through the interesting history of the Draped Bust coin series, explore the standout features of the 1798 large cent, which you can use to authenticate and grade your coin, and reveal minting errors that are worth adding to your collection.

The 1798 large cent had one of the highest mintages in the entire Draped Bust cents series. Although many survivors are heavily worn, even lower-grade examples are worth much more than face value and can be a worthwhile addition to any collection. Mint State examples and Gems are desirable but rare and will command premium and sometimes prohibitive prices.

So, how much is the 1798 large cent worth? Let’s find out!

1798 Large Cent Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1798 Large Cent Value	$180	$575	$2,300	$34,500

 

History of the 1798 Large Cent

The Large Cent was a United States coin minted in different designs from 1793 to 1857. These coins were minted only at the Philadelphia Mint, and their dense copper content made them larger and heavier, thus earning them the name “large cents.”

The 1798 large cents are part of the Draped Bust design series minted from 1796 to 1807. Before this, there were other designs, starting with the Flowing Hair, Chain Reverse cent, Flowing Hair, Wreath Reverse cent, and the Liberty Cap cent.

The Mint introduced the Draped Bust design in response to widespread dissatisfaction with the previous designs. For these new coins, Chief Engraver Robert Scot transformed an image of a Philadelphia socialite by artist Gilbert Stuart into Liberty’s portrait to be used on the obverse. The socialite in question is believed to be Ann Willing Bingham, who was also the wife of a prominent statesman by the name William Bingham.

Scot’s obverse design for the new cent featured a bustier, more feminine Lady Liberty that appeared more refined than in previous design issues.  Lady Liberty’s design remained unchanged for several years, except that in 1798 the Mint added an extra curl at the tips of her flowing hair. This resulted in two types of obverse styles: the First Hair Style and the Second Hair Style. Although there is no significant difference between the two obverse die varieties, collectors still like to differentiate them and attach different values to each.

It is also worth noting that there are three reverse designs for the Draped Bust coin series. The first one, seen on copper coins, shows the coin’s value encircled in a wreath, and the wreath is equally surrounded by the words UNITED STATES OF AMERICA. This design changed in 1795 when a small bald eagle replaced the wreath design on all the new silver coins—this was known as the Draped Bust, Small Eagle design. The final change came in 1798 when the scrawny bird was replaced by an image of a bolder heraldic eagle with a shield on its breast—this design of large cents was known as the Draped Bust, Heraldic Eagle.

Because of primitive working conditions, poor die quality, and unadvanced technology, the 1798 issue of the Draped Bust cent has numerous die pairings. Three of the reverse die hubs featured the reverse of 1795, which showed single leaves at the opening of the wreath. The remaining die marriages have a double-leaf wreath design, while the obverse shows the First Hair and Second Hair varieties.

The 1798 large cent had a larger-than-usual mintage, so the population of survivors is noticeably larger than for the years that followed. As an early copper coin, the 1798 issue is popular for its historical and sentimental significance and can add value to any collection.

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Features of the 1798 Large Cent

Next, we’ll go over the physical attributes of the 1798 large cent. By familiarizing yourself with these features, you can accurately grade and authenticate your large cents, and identify Draped Bust cents worth good money and which deserve a spot in your collection.

Here are the features worth noting:

Obverse of the 1798 Large Cent

The obverse features Lady Liberty’s right-facing portrait in which she has flowing hair with some strands held back by a ribbon, while she is dressed in drapey clothing that highlights her bosom.

The word LIBERTY appears above her head while the date is shown at the bottom along the rim. The rim, instead, is decorated with small, numerous denticles.

Reverse of the 1798 Large Cent

The reverse shows the coin’s denomination, ONE CENT, encircled by an open wreath that is tied at the bottom with a ribbon.

UNITED STATES OF AMERICA is etched around the coin’s circumference while the fractional representation of the denomination, 1/100, is etched just underneath the ribbon tying the wreath.

Other Features of the 1798 Large Cent

Additional features worth noting include:

• Diameter: 28.00 millimeters
• Weight: 10.89 grams
• Edge: Plain
• Metal Composition: Copper

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1798 Large Cent Value Guides

Now, onto the big question: Just how much is a 1798 large cent worth? The market value of this early coin depends on its condition and rarity. The 1798 large cent was struck at the Philadelphia Mint with a mintage of about 1,841,745, one of the highest in the Draped Bust coin series. Most survivors are circulated and of a lower grade, but are still worth more than their face value. Mint State examples and Gems are rare and will often command premium prices.

Whether selling or buying, here’s what to expect in terms of the value of a 1798 large cent:

• Circulated Examples: Despite the relatively high mintage, many 1798 large cents are too worn to be graded, while others were lost or damaged. The population of surviving cents is slightly larger than in the years that followed, but collectible examples are relatively scarce starting from grade Fine (F) and higher. That said, circulated examples of the 1798 large cents are worth significantly more than their face value, sometimes fetching premiums. Examples in Poor/Average condition can sell for as much as $115, while Good (G) ones are worth about $180. In Fine (F) condition, pieces will fetch up to $575, and the prices more than triple in Extremely Fine (XF) condition, where examples can sell for up to $2,300 or more. About Uncirculated (AU58) examples are desirable but relatively scarce, commanding prices as high as $7,000.
• Mint State Examples: Uncirculated specimens are scarce to rare, and prices can be prohibitive, especially in higher grades. In MS60, specimens can fetch up to $8,450 and as much as $13,000 in MS62. Examples in MS63 and above are genuinely rare, commanding top-tier prices for the deep-pocketed collector. For instance, in MS63, a specimen can sell for as much as $23,750 and up to $34,500 in MS64. It’s worth noting that finding genuinely nice 1798 large cents in Mint State can be difficult due to this era’s poor strike quality and equally low-quality dies.
• Auction Record: In a record-shattering sale in 2008, Goldberg Auctioneers sold an MS65 for an impressive $207,000, making this one of the most valuable 1798 large cents.

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1798 Large Cent Grading

As with most early coins, the 1798 Draped Bust large cent can be difficult to grade because of its poor strike and heavy wear. Small differences in the strike or surface quality can drastically impact the coin’s value.

When grading, examine the high contact points for wear. On the obverse, these points include Liberty’s hair behind her neck, over her shoulders, and above her forehead, the inscription LIBERTY, and the date. On the reverse, the spots most prone to wear include the wreath leaves and ribbon, and the inscriptions ONE CENT and UNITED STATES OF AMERICA.

Many examples will show heavy wear on the high points, where the design details will be flat and lacking any outline. Nicer examples will have clearer outlines, more visible details, and faint wear on the high points. Rare Mint State examples will show no wear; they’ll have complete details, crisp outlines, and mint luster.

 

Rare 1798 Large Cent Errors List

Because of poor-quality working dies and unadvanced minting technologies, the 1798 large cent, like most issues in the Draped Bust series, has numerous die varieties and minting errors. Not all errors are worth collecting, but some are worth a spot in any collection as they add significant value to the price of a regular large cent.

Here are 1798 large cent errors worth collecting:

1. 1798 Large Cent Overdate Error

Overdates are some of the most common errors in the 1798 large cent series. An overdate error is one where a previous year’s numbers can be seen underneath the current year’s date. For example, several examples of 1799/8, 1795/8 large cents have been discovered.

This happens when a die from a past or different year is engraved with the new year’s date, instead of starting with a new die. This error is common in the 18^th and 19^th century coins when dates were manually punched into the dies, and dies were often reused where a new date would be punched over the old one.

An overdate can add $50-$100 to the regular value of your large cent. For example, in 2007, a collector on eBay paid $675 for a 1798 large cent graded Fine (F) with a 1795/8 overdate error.

2. 1798 Large Cent Doubled Die Error

 Double dies are also common on these early coins due to the manual minting process. This error happens due to a misalignment between the die and planchet, causing the die to strike at slightly different angles.

A doubled die error results in visible doubling on the inscriptions such as LIBERTY, UNITED STATES OF AMERICA, and ONE CENT. Design elements such as Liberty’s profile and the wreath’s leaves might also show some doubling.

In 2010, Stack’s Bowers auctioned a 1798 large cent graded Very Fine (VF) with an obverse and reverse doubled die error for an impressive $1200.

3. 1798 Large Cent Off-Center Error

Another error that comes up in the 1798 large cent series is the off-center strike. This also occurs due to a misalignment between the planchet and die, which causes the die to strike away from the planchet’s center and more toward the edge.

As a result of the off-strike, some of the inscriptions or design elements might be missing, creating an intriguing appearance that makes the coin worth adding to any collection. In 2018, an eBay collector paid $350 for a 1798 large cent graded Very Good (VG) with an obverse off-center strike.  

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Where to Sell Your 1798 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

What is the value of a 1798 large cent?

How much a 1798 Draped Bust large cent is worth depends on its condition and rarity. Circulated examples are more common than their Mint State counterparts. In circulated condition, examples can sell for $115 to as much as $7,000, while in Mint State, these large cents can fetch $34,500 or more. Gems graded MS65 and higher are extremely rare and can command record-shattering prices of $200,000 and more.

How big is a large cent?

A Draped Bust large cent has a diameter of 29 millimeters and weighs about 10.89 grams. It’s important to familiarize yourself with the standout features of early coins, such as the 1798 large cent, which are often a target for forgery. Knowing these features will help you authenticate your large cents and even approximate the coin’s grade.

Is a 1798 large cent worth collecting?

If you want to build a complete Draped Bust cents series, the 1798 issue is an essential piece of the puzzle. This year is worth collecting because even lower-grade pieces will sell for much more than face value. If you are lucky enough to come across a 1798 large cent in Mint State with a shiny surface, few to no surface damage, and complete design details, it could be worth a small fortune and deserves a spot in your collection.