Dated 1793, first issue type, Sheldon-2, Breen 1-B (wide date obverse and AMERICA reverse). Obv: profile Liberty bust right with flowing hair, date below and LIBERTY legend. Rev: circular chain of 15 links (the link below N of UNITED slightly doubled) with ONE CENT 1/100 in three lines at centre and UNITED STATES OF AMERICA legend. Edge: vine and bars, rim plain. 13.09 grams, 26.55mm.

Good fine to obverse (slight weakness from the die being polished and re-finished before using with the new reverse die); reverse very fine; excellent natural brown colour and patina. Very rare, iconic and a new discovery.

LITERATURE:
KM# 11; Sheldon-2; Breen 2, dies 1-B (state I).

FOOTNOTES:
The chain reverse cent is accepted as being the first national US coinage, following the Act of 14th January 1793 and was minted from four obverse and three reverse dies in late February to early March 1793, until the mint ran out of the copper blanks (when minting resumed a little later, the design had changed to the wreath reverse type), with 36,103 of the general type struck according to records and this die pairing believed to have struck about 4,850 coins, included within the delivery of 11,178 coins (from die pairings 1-A and 1-B) made on 1st March 1793; it is estimated that perhaps only about 2.8% or so examples of the general type survive today and this die pairing is recognised as being scarcer than the AMERI type (many, if not most, surviving are badly worn or damaged) so perhaps around 150 or so extant. This coin was recently discovered in England, when the vendor submitted it among a small group of low grade British copper coins of the George II to Victoria era.