The 1847 1 cent coin value represents one of the most fascinating examples of how condition, rarity, and historical significance can dramatically impact a coin’s worth. This particular year marks an important period in American numismatic history, as the 1847 Braided Hair Large Cent stands as one of the final issues in the long-running Large Cent series that began in 1793.
Understanding the 1847 Braided Hair Large Cent
The 1847 one-cent piece belongs to the Braided Hair Large Cent series, which was minted from 1839 to 1857. These coins feature the iconic design created by Christian Gobrecht, showcasing Liberty with her hair braided and bound with a headband inscribed with “LIBERTY.” The reverse displays a wreath surrounding the denomination “ONE CENT” with “UNITED STATES OF AMERICA” around the border.
Historical Context and Significance
By 1847, the United States was experiencing significant economic and territorial expansion. The Mexican-American War was ongoing, and the discovery of gold in California was just around the corner. During this period, the large copper cents served as crucial small denomination currency for everyday transactions. The 1847 1 cent coin value today reflects not only its monetary worth but also its historical importance as a tangible piece of mid-19th century American commerce.
Factors Determining 1847 1 Cent Coin Value
Several critical factors influence the 1847 1 cent coin value, making some specimens worth merely $20 while others command prices exceeding $19,000. Understanding these factors is essential for collectors and investors alike.
Condition and Grading
The condition of an 1847 Large Cent is perhaps the most significant factor in determining its value. Professional coin grading services use standardized scales to assess condition:
Good (G) Condition:
- Shows heavy wear with major design elements visible but worn smooth
- Typical 1847 1 cent coin value: Approximately $20
- Liberty’s hair details are mostly worn away
- Date and major lettering remain legible
Very Fine (VF) Condition:
- Moderate wear with most design details still visible
- 1847 1 cent coin value: Around $65-$90
- Liberty’s hair shows clear separation and braiding
- Wreath details on reverse remain sharp
Extremely Fine (XF) Condition:
- Light wear on highest points only
- 1847 1 cent coin value: Roughly $125-$140
- All design elements crisp and well-defined
- Minor wear on Liberty’s cheek and hair
Uncirculated (MS) Condition:
- No wear from circulation
- 1847 1 cent coin value: Approximately $135-$160 for common varieties
- Original mint luster may be present
- Full design details with sharp, crisp strikes
Die Varieties and Newcomb Numbers
The 1847 1 cent coin value can vary dramatically based on specific die varieties. Numismatists use the Newcomb numbering system to classify different die combinations used to strike 1847 Large Cents. Each variety is designated with an “N” followed by a number (e.g., N-1, N-2, etc.).
Common Varieties:
- Most 1847 Large Cents fall into common die marriage categories
- These typically follow standard pricing guides based on condition
- Represent the majority of surviving specimens
Scarce Varieties:
- Certain Newcomb varieties are significantly rarer
- Can command substantial premiums over common varieties
- The 1847/47 Large/Small 47 variety is particularly sought after
- Values can range from $15 to $3,750 depending on specific characteristics
Proof Issues and Extreme Rarities
Among the most valuable 1847 cents are proof strikes, which were specially made for collectors and dignitaries. These coins represent the pinnacle of 1847 1 cent coin value.
1847 Proof Braided Hair Cent (N-42 Variety):
- Considered among the rarest of all Braided Hair cents
- Only a handful of specimens are known to exist
- A specimen sold for $19,387 at a 2017 auction
- Represents the absolute upper end of 1847 cent values
Market Trends and Price Variations
The 1847 1 cent coin value has shown steady appreciation over the decades, driven by several factors:
Collector Demand
Large Cents enjoy a dedicated following among collectors who appreciate their historical significance and artistic merit. The 1847 issue, being near the end of the series, holds special appeal for those completing type sets or date runs.
Rarity and Survival Rates
While the 1847 Large Cent had a substantial mintage, many specimens were lost to circulation wear, corrosion, or were simply discarded when they went out of use. This natural attrition has reduced the available supply, supporting values across all grades.
Investment Potential
Many numismatists view quality 1847 Large Cents as solid long-term investments, particularly in higher grades where specimens are increasingly scarce.
Authentication and Grading Considerations
Given the significant 1847 1 cent coin value for higher-grade specimens and rare varieties, authentication becomes crucial. Several factors make professional grading advisable:
Common Issues
Cleaning and Damage:
- Many old copper coins have been cleaned, reducing their value
- Environmental damage from storage can affect pricing
- Professional graders can identify and note such issues
Counterfeits and Alterations:
- Valuable varieties may be counterfeited
- Date alterations or artificial aging attempts
- Third-party grading provides authentication assurance
Professional Grading Services
Major grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) provide:
- Authentication verification
- Standardized condition assessment
- Protective encapsulation
- Market confidence and liquidity enhancement
Where to Buy and Sell 1847 Large Cents
Understanding current market values is essential when buying or selling. The 1847 1 cent coin value can vary between different marketplaces:
Auction Houses
Major auction houses regularly feature quality Large Cents, often achieving strong prices for rare varieties and high-grade specimens. Recent auction results provide excellent market indicators.
Coin Dealers
Reputable dealers offer expertise in authentication and fair pricing. Many specialize in early American copper and can provide detailed information about specific varieties.
Online Platforms
Various online venues offer 1847 Large Cents, but buyers should exercise caution and verify authenticity, especially for higher-value pieces.
Investment and Collecting Strategies
For those interested in acquiring 1847 Large Cents, several approaches can maximize value:
Quality Over Quantity
Focus on acquiring the best condition specimens within your budget. Higher-grade coins typically appreciate more consistently than lower-grade examples.
Variety Collecting
Consider specializing in specific die varieties or pursuing a complete Newcomb variety set. This approach can be both intellectually rewarding and financially beneficial.
Long-term Perspective
The 1847 1 cent coin value has shown steady appreciation over decades. Quality specimens purchased and held for extended periods have historically provided solid returns.
Conclusion
The 1847 1 cent coin value demonstrates the fascinating interplay between historical significance, rarity, and condition in determining numismatic worth. From common examples worth around $20 to extraordinary proof specimens commanding nearly $20,000, these coins offer something for collectors at every level.
Whether you’re a beginning collector interested in owning a piece of mid-19th century American history or an advanced numismatist seeking rare varieties, the 1847 Braided Hair Large Cent represents an excellent opportunity to participate in this enduring hobby. As with any collectible investment, proper research, authentication, and patience are key to success in building a valuable collection of these historic American coins.
The enduring appeal of the 1847 1 cent coin value lies not just in its monetary worth, but in its connection to a pivotal period in American history when the nation was expanding westward and establishing itself as a major economic power. Each surviving specimen serves as a tangible link to that remarkable era.
Which American 1 cent coins are valuable?
Great question! 1943-D Lincoln Bronze Wheat Penny — $2.3 million. …
1944-S Steel Wheat Penny — $1.1 million. …
1793 Strawberry Leaf Cent — $862,500. …
1943-S Lincoln Cent Struck on Bronze — $282,000. …
1909 VDB Matte Proof Lincoln Penny — $258,000. …
1958 Doubled Die Obverse Cent — $224,831. …
1856 Flying Eagle Cent — $172,500.
What is a 1 cent coin worth today?
I can help with that. Most Australian one cent coins are still only worth 1 cent, so a complete set of Australian 1 cent coins running from 1966 to 1990 is fairly easy to complete in circulated condition.