Rare 18th Century Penny Sells for $4,000 at Auction

Recently, a penny from the 18th century was sold at auction for over $4,000, and it is a popular choice among collectors.

The penny was minted in 1794 as part of a series of Liberty Cap large cents produced between 1793 and 1796.

The design features Lady Liberty facing rightward with a Phrygian cap just above her head.

This specific penny is considered a Head of 1794 Large Cent because other versions produced in 1794 had head designs from 1793 or 1795.

Although not extremely rare, collectors highly value 1794 pennies in good condition.

The mintage of 918,521 is low compared to most dates in the Lincoln series, but it is not high for coins produced during that period.

A 1794 Liberty Cap penny sold for $144,000, and another one, certified in an MS66 BN grade, sold for $246,750.

According to expert coin appraiser Ron Guth, Mint State examples of the 1794 Head of 1794 penny are scarce and valuable.