The primary 1787 U.S. coin is the Fugio Cent , also known as the Franklin Cent or Sun Dial Cent. It holds a significant place in American numismatic history as the first official United States circulation coin authorized by the Congress of the Confederation.
Here’s a breakdown of the 1787 Fugio Cent:
- Design:
– Obverse (front): Features a sundial with the sun shining down on it, and the word “Fugio” (Latin for “I fly” or “I flee,” referencing time flying by) to the left. Below the sundial is the phrase “Mind Your Business”.
– Reverse (back): Displays thirteen interlocking rings representing the original thirteen colonial states, encircling the motto “We Are One”.
- Designer: While the designer isn’t officially known, it’s widely believed to have been designed by Benjamin Franklin, and is sometimes called the Franklin Cent because of its design resembling his 1776 Continental Currency dollar coin.
- Composition and Denomination: It was made of copper and had a denomination of one cent. The coin was designed to contain a specific amount of copper (157.5 grains or approximately 10g), where 2.25 pounds of copper equaled one dollar.
- Production and Circulation: The Fugio Cent was minted in 1787, mainly in New Haven, Connecticut. However, due to various challenges, including issues with production and public acceptance, its widespread circulation was limited and brief.
- Significance: The Fugio Cent is a significant piece of early American history, embodying a blend of Enlightenment principles, the concept of political unity, and economic pragmatism. It represents the young nation’s initial efforts to establish a standardized monetary system.
- Value: Fugio Cents are considered rare and valuable among collectors. The value varies significantly depending on the coin’s condition (grade) and specific die varieties.
Besides the Fugio Cent, collectors also seek other state-issued coins from 1787, such as New Jersey Coppers and Connecticut Coppers . However, the Fugio Cent is the first federally authorized coinage of the United States.
What’s the most rare US coin?
Good point! 1822 Half Eagle Gold Coin
The 1822 Half Eagle gold coin is currently one of the rarest coins in existence. Released with a $5 denomination by the U.S. Mint, the eagle design was created by John Reich. Approximately 17,800 pieces of the 1822 coin were made, yet only three are still believed to exist today.
How many 1787 pennies were made?
Samuel Broome, Jarvis’ father-in-law, was in charge of having the coins minted. Broome instead used only 4 tons of the copper to strike approximately 400,000 Fugio Cents. The remaining 296 tons of copper were used to strike underweight 1787 Connecticut Copper coins, which guaranteed Jarvis a much higher profit margin.
What is the George 111 coin 1787?
The George III Silver 1787 Sixpence was only struck for circulation for just one year, 1787. Rather than The Royal Mint, this coin was in fact struck by The Bank of England to give out to their favoured clients around Christmas. It is an incredibly special keepsake for any numismatic enthusiasts collection.