Welcome back as we continue our series on numismatics, a comprehensive introduction to coin collecting.
In Part 1, we covered some of the basics of getting started with coin collecting, and dove into the first major category of coins: Colonials and Pattern Coins.
In Part 2, we will cover Half Cents and Large Cents. If you are interested in numismatics, including coin collecting, or have been a casual coin collector and want to know more about the practice, join us in this multi-part series, “Welcome to Numismatics.”
Grading
In addition to the basic concepts we discussed in Part 1, one of the most important things to know for the coin collecting beginner is the grading of a coin’s condition.
The American Numismatic Association created its grading standards in 1977. It’s a good idea to familiarize yourself with these standards, as it’s important when determining the value of a coin.
Below is a brief selection of coin grades. The full list can be found on the ANA’s website.
Uncirculated Coins:
MS-70 – The perfect coin. Has a very attractive sharp strike and original luster of the highest quality for the date and mint. No contact marks are visible under magnification. There are no noticeable hairlines, scuff marks, or defects. Eye appeal is attractive and outstanding. If copper, the coin is bright with full original color and luster.
MS-60 – Unattractive, dull, or washed-out mint luster may mark this coin. There may be many large detracting contact marks, or damage spots, but no trace of circulation wear. There could be a heavy concentration of hairlines or unattractive large areas of scuff marks. Rim nicks may be present, and eye appeal is very poor. Copper coins may be dark, dull, and spotted.
Circulated Coins:
AU-58 (Also Very Choice About Uncirculated-58) – The barest trace of wear may be seen on one or more of the high points of the design. No major detracting contact marks will be present and the coin will have attractive eye appeal and nearly full luster, often with the appearance of a higher grade.
AU-50 (Also About Uncirculated-50) – Shows traces of wear on many of the highest parts of the design. On many of these coins, some of the original mint luster is still present. May have a few noticeable contact marks or flaws.
VF-20 (Also VeryFine-20) – Moderate noticeable wear on the higher parts of the design. Minor details are beginning to flatten. Surfaces are attractive and free of serious blemishes, erosion, nicks, or scratches.
AG-3 (Also About Good-3) – Very heavily worn, with portions of the lettering, date, and legends worn smooth. The date is barely readable. Rims merge into the lettering.
Source: American Numismatic Association grading standards.
Overview: Half Cents and Large Cents
In the late 1700s, the United States began to produce half cents and cents. The cents from this time are referred to as large cents because they were larger than cents that were issued in later years.
Both were produced at the new Mint in Philadelphia and therefore do not have mint marks.
Half Cents
Half cents were first produced in 1793 and are the smallest denomination that the U.S. has ever produced. They were made of 100% copper and almost as big as a modern quarter. The coin was discontinued in 1857.
There are only five half cent designs: 1) Liberty Cap, Head Facing Left, 2) Liberty Cap, Head Facing Right, 3) Draped Bust, 4) Classic Head, and 5) Braided Hair.
Liberty Cap, Head Facing Left
| AG-3 | VG-8 | VF-20 | AU-50 | |
|---|---|---|---|---|
| 1793 | $2,500 | $5,000 | $11,000 | $32,000 |
Liberty Cap, Head Facing Right
| AG-3 | VG-8 | VF-20 | AU-50 | |
|---|---|---|---|---|
| 1794, Normal Head | $425 | $950 | $2,500 | $11,000 |
| 1795, Lettered Edge, with Pole | $350 | $825 | $2,400 | $8,000 |
| 1797, 1 Above 1, Plain Edge | $300 | $650 | $2,000 | $6,500 |
Draped Bust
| AG-3 | VG-8 | VF-20 | AU-50 | |
|---|---|---|---|---|
| 1803 | $45 | $130 | $325 | $1,500 |
| 1804, Plain 4, Stems to Wreath | $55 | $125 | $475 | $$2,200 |
| 1806, Small 6, Stems | $100 | $425 | $1,650 | $6,500 |
Classic Head
| VG-8 | VF-20 | AU-50 | MS-60 | |
|---|---|---|---|---|
| 1809, Normal Date | $95 | $125 | $275 | $750 |
| 1828, 13 Stars | $90 | $115 | $250 | $325 |
| 1837 Token (not a coin) | $65 | $110 | $375 | $700 |
Braided Hair
| VG-8 | VF-20 | AU-50 | MS-60 | |
|---|---|---|---|---|
| 1849, Large Date | $80 | $110 | $240 | $500 |
| 1857 | $100 | $130 | $260 | $400 |
Large Cents
Like the half cent, the large cent was first produced in 1793 and discontinued in 1857. It was also 100% copper and legally required to weigh twice as much as the half cent.
The large cent was replaced in 1857 by the modern-sized one-cent coin we call the penny.
Flowing Hair
| AG-3 | VG-8 | VF-20 | AU-50 | |
|---|---|---|---|---|
| 1793, Chain Reverse, AMERI. | $7,500 | $23,000 | $42,000 | $175,000 |
| 1793, Wreath Reverse, Vine/Bars Edge | $2,700 | $5,000 | $18,500 | $38,500 |
Draped Bust
| AG-3 | VG-8 | VF-12 | EF-40 | |
|---|---|---|---|---|
| 1796, Reverse of 1794 | $500 | $1,100 | $2,000 | $9,000 |
| 1803, Small Date, Large Fraction | $55 | $140 | $275 | $1,200 |
Liberty Head
| VG-8 | VF-20 | AU-50 | MS-60 | |
|---|---|---|---|---|
| Matron Head, 1817, 13 Stars | $40 | $115 | $435 | $650 |
| Matron Head, 1824, Normal Date | $90 | $300 | $1,200 | $3,400 |
Explore Half Cents and Large Cents at CV Coins & Collectables
The half cent and large cent are two fascinating coins from the early period of the United States and represent some of the most scarce coins.
CV Coins & Collectables has a wide collection of coins for the beginner collector. If you are looking to get started and have any questions, please contact us at (619) 427-9154 or through our contact page and we’ll be happy to help you get started with your coin collection.
Check out the other parts in this series: