The 1798 Dollar Cent That Could Be Worth More Than $100,000
The 1798 dollar cent is a rare coin that has achieved auction prices of over $100,000, highlighting its historical significance and scarcity.
The article discusses the 1798/7 dollar cent, a coin that holds significant historical value and rarity, with a total mintage of over 1.8 million coins, though very few survive today. Notably, this specific variety has reached auction records exceeding $100,000, with the record auction price at $103,500 for a coin graded MS62, which was sold by Goldberg Auctioneers in September 2009. The 1798/7 dollar cent belongs to the Draped Bust series, minted between the years 1796 and 1807. Its designation in the Professional Coin Grading Service (PCGS) catalog is 1798/7 1C, BN, and the modification in the year marking indicates that the number '7' was initially stamped but altered to reflect 1798. The coin was designed by Robert Scot and produced at the Philadelphia Mint, further enhancing its collectible status. The importance of collecting such rare items is underscored by the appreciation in value and the interest they generate, particularly for numismatists and investors. The few surviving examples of the 1798/7 dollar cent are not only pieces of currency but also represent a tangible connection to America's early history, thus making them prized possessions among collectors and historians alike.