The Fugio Cent has long been one of themost enjoyed early American collectibles, and now numismatists can count it as the earliest of all United States regular-issue coins.

Professional Coin Grading Service (www.PCGS.com) is announcing thegroundbreaking reclassification after an exhaustive study carried out by a team of leading numismatic experts including John Dannreuther, Gordon Wrubel, Craig Sholley, Brian Greer, Chuck Link, Tony Terranova, Chris Victor-McCawley, David McCarthy, and Erik Goldstein.

says President of Professional Coin GradingService Stephanie Sabin.

PCGS Director of Numismatic Education and Grading Team Leader Steve Feltner isintrigued at how much information lay beneath the surface of such widely studied andcollected coins like the Fugio Cent.

Feltner says the decision to reclassify the status of the Fugio Cent wasn't something tobe taken lightly. He concludes,

Adds Feltner,

Among the evidence warranting the reclassification of the Fugio Cent as a regular-issuecoin is a measure passed by the Board of Treasury on April 21, 1787, noting that theFugio Cents were to be per weight standards stipulated in the1786 report for United States gold, silver, and copper coins. As part of these standards,cents were to contain 157.5 grains of pure copper. So, when Congress authorized thecontract for Fugio Cents on this date, the intent was to produce coins that were neededin commerce.

The reclassification of the Fugio Cent as a regular-issue coin isn't the first time PCGShas led the way in properly recognizing coins that may have been numismaticallymiscategorized in the past. Years ago, PCGS was the first grading service to classify1792 Half Dismes, once listed among pattern coins, as regular issues. A Guide Book ofUnited States Coins () and others soon followed suit.

The reclassification of the Fugio Cent means PCGS will list them among regular-issuecoinage, under the heading of and they will retain theirposition among PCGS Colonial Registry Sets. Read the January/February issue of thePCGS Rare Coin Market Report for the full story on why PCGS is reclassifying theFugio Cent as a regular-issue coin. For more information about the PCGS Set Registry,please visit https://www.pcgs.com/setregistry.

Image: Fugio Cent
This specimen of the 1787 Fugio Cent, a variety known as United Above, States Below, is highly coveted among collectors and belongs to a popular series PCGS is reclassifying as a regular-issue coin. Courtesy of PCGS TrueView.

Image: April 1787 Journals of Congress
An extract from the Journals of the Continental Congress for April 21, 1787. Public domain image.