With our recent sale of the final circulation strike "pennies" making international headlines for their strong prices realized, it might interest some who participated in the sale to see what started it all 232 years ago! We are also pleased to be offering a very Choice EF example of the first circulating cent in our February 2026 Showcase Auction.

The United States Mint was established by an Act of Congress dated April 12, 1792. The legislation authorized not just the construction of the facility, but also established by law the circulating denominations, which following Thomas Jefferson's suggestion of a decimalized system, a revolutionary idea for the time. The basic unit was the silver dollar, with fractions thereof. The first coins to be struck for circulation under the auspices of this Act were produced in small quantities in John Harper's shop in 1792. In early 1793, with the Mint facilities constructed, the first cents and half cents were struck.

The first cents were of Henry Voigt's design and featured Liberty, represented by a female's head facing right, her flowing locks of hair blowing back. On the reverse, borrowing from the 1787 Fugio cents and Continental Currency notes of the Revolutionary War period, was a circle formed by chain links, to represent unity. The first reverse die was engraved with such wide spacing in the words UNITED STATES OF that AMERICA had to be abbreviated as AMERI., creating a very popular subtype.

These first cents were issued into circulation, and the response in the press was not great. Critics called the coin a bad omen for Liberty, citing the portrait as showing her "as if in a fright." Rather than understanding the chain as a representative of strength in unity, it was called out as symbolizing slavery. Quickly, the design was changed to the Flowing Hair, Wreath type.

In our February 2026 offering of the Dean Oakes Family Collection is a very choice EF-45 (PCGS) example of the famed AMERI. Chain cent.

To read the complete article, see:
Historic 1793 AMERI Chain Cent the First Circulating Cent Struck by the United States Mint(https://stacksbowers.com/historic-1793-ameri-chain-cent-the-first-circulating-cent-struck-by-the-united-states-mint/)

To read the complete lot description, see:
1793 Flowing Hair Cent. Chain Reverse. S-1, B-1. Rarity-4. AMERI. EF-40 (PCGS). CAC. OGH.(https://auctions.stacksbowers.com/lots/view/3-1PHHJM/1793-flowing-hair-cent-chain-reverse-s-1-b-1-rarity-4-ameri-ef-40-pcgs-cac-ogh)