Advice On Purchasing A 1793 Chain Large Cent
The 1793 Chain Large Cent, to me, is a very desirable copper to own. Does anyone have advice or opinions on what you feel is important to look for when purchasing such a coin? This would be a chain large cent in low grade, at or below a Very Good-8, due to ones limited budget allowance. I now realize that the chain large cent is rare. It requires a little, if not, a lot of give on the perfect condition that you look for in an early large cent. Also, that you need to be satisfied with any copper large cent in your collection, or it will bother you every time you look at it!
Myself - I figured I was a few years away from ever getting a chain cent and really wasn't even considering one. (most I've spent on a coin is $750 - haven't progressed to 1,000+ yet). But when I came across a basil state S3 (can see chain, date and faint head only with counterstamp) on e-bay for $535, I jumped. I'm not happy with it and list it as a "needs upgrade", but I don't have $2,000 to buy a G-4 one.
Usually, my key is enough detail to be able to tell S number with my naked eye, without holes, serious dents or counterstamps and decent detail (I'm OK with corrosion if I can see detail) unless its a R5 or higher or a rare die state, but 1793s have been an exception because of price
Keep in mind that chain cents are not that rare when compared to many of the large cents, but the demand is so much higher which drives up the price.
Bottom line - get what you like / can be happy with / can afford.
Thank you for you response. I am rather new at collecting large cents and still have much to learn. I am looking forward to everything that I can learn about these very interesting coins! Yes, it appears that the chain cent demands high prices compared to other years and their rarity. I guess, I fall into the group that would really like to own one. There just seems to be a lot of give in wanting to purchase the no problem condition. Net condition, is what I need to look at in acquiring a chain cent.
You are so right on your bottom line comment. It is up to me to decide what I like, can afford to purchase and be satisfied to have in my collection.
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