1794 1c Liberty Cap Large Cent, Head ’94 S-22 ANACS P1 Details – Holed
$495.00
Large cents, especially early ones like the 1794 Liberty Cap, were often holed for a variety of practical, sentimental, or even superstitious reasons. In the 18th and 19th centuries, when these coins circulated, currency was used differently, and people’s needs and customs varied greatly from today.
Here are some of the most common reasons why large cents (and other coins of the era) were holed:
- Jewelry and Adornment:
- Necklaces and Pendants: This was a very common use. Coins were often holed near the rim so they could be strung on a cord or chain and worn as a necklace, often as a keepsake, a good luck charm, or a visible display of wealth or social standing.
- Buttons or Fasteners: Some coins, especially if they had two holes, could be sewn onto clothing as decorative buttons or fasteners.
- Love Tokens: Coins were frequently smoothed on one side and engraved with initials, names, or messages, then holed to be worn as “love tokens” exchanged between sweethearts.
- Security and Storage (Lack of Pockets/Wallets):
- Sewn into Clothing: Before the widespread use of modern pockets and wallets, people often sewed their valuable coins directly into the lining of their clothing. This made the money harder to lose and less accessible to pickpockets. A hole allowed for easy stitching.
- Strings/Chains: Similar to jewelry, coins could be strung together on a cord or chain to keep them organized and prevent them from being easily lost. This was a common way to carry money securely.
- Utilitarian Purposes:
- Weighing or Measuring: While less common for cents, larger coins might have been holed for use in rudimentary weighing systems or as counterweights.
- Toys: A coin with two holes could be used as a simple spinning toy, where a string was looped through and twisted, making the coin spin and hum.
- Repair/Attachment: Sometimes, coins might have been temporarily attached to something for a specific purpose, such as a makeshift washer or repair part.
- Superstition and Folk Beliefs:
- Good Luck Charms: Many cultures believed (and still do) that certain coins bring good luck.1 Holing them and wearing them or nailing them to doors/trees was a way to harness that perceived luck or offer them as votive offerings.
- Protection: Some traditions held that certain coins could offer protection, and holing them made them easier to keep close.
- Good Luck Charms: Many cultures believed (and still do) that certain coins bring good luck.1 Holing them and wearing them or nailing them to doors/trees was a way to harness that perceived luck or offer them as votive offerings.
- Protest or Defacement:
- In rare cases, a coin might have been holed or defaced as a form of political protest or a sign of disrespect for the monarch or leader depicted on it.
It’s important to remember that in the 18th and 19th centuries, a copper cent held significantly more purchasing power than it does today. It wasn’t just “pocket change”; it was real money that people had practical uses for beyond simple transactions. The act of holing a coin, while it diminishes its value in the eyes of a modern numismatist, was often a practical or meaningful act for the person who did it centuries ago.
A fascinating and historically significant coin with a common but impactful issue. Let’s break down the 1794 1c Liberty Cap Large Cent, Head ’94 S-22 ANACS P1 Details Holed.
- 1794 1c Liberty Cap Large Cent: This is an early American copper cent, minted just two years after the U.S. Mint began striking coinage for circulation. The “Liberty Cap” design (which succeeded the Chain and Wreath cents of 1793) features a draped bust of Liberty facing right, with a pole extending from behind her neck, topped by a Liberty Cap. These early large cents are highly collectible due to their age and historical importance.
- Head ’94: This refers to the specific obverse (front) die used. In 1794, there were several different “Head” types, indicating subtle variations in Liberty’s portrait.
- S-22: This is a Sheldon number, which is a widely accepted attribution system for early U.S. Large Cents (1793-1814) developed by Dr. William H. Sheldon. The “S-22” identifies a specific die marriage (combination of obverse and reverse dies) for the 1794 Liberty Cap Cent. Collectors of large cents often specialize in collecting these Sheldon varieties. The S-22 is a known variety, and its specifics (like die cracks or other markers) would be documented in Sheldon’s reference works.
- ANACS: As discussed, this means the coin has been authenticated and graded by the American Numismatic Association Certification Service.
- P1 Details: This is the critical part of the grade.
- P1 (Poor 1): This is the lowest possible numerical grade on the Sheldon scale (1-70). A P1 coin is extremely heavily worn, often to the point where major design elements are barely discernible. The date and mintmark (if present) might be the only fully readable elements, and even those can be faint.
- Details: This is a key modifier used by ANACS (and other grading services like PCGS and NGC, though they use different terminology like “Genuine” with details). “Details” means that while the coin can be assigned a “net” grade (P1 in this case) for its level of wear, it also has a significant problem that prevents it from receiving a “straight” numerical grade. Such problems are usually the result of post-mint damage.
- Holed: This is the specific “problem” indicated by the “Details” designation. A “holed” coin means that a hole has been drilled, punched, or otherwise made through the coin’s surface. This was often done in the past for various reasons, such as to string coins for jewelry, to attach them to clothing, or simply for decoration. A hole is considered damage and significantly reduces a coin’s numismatic value, regardless of its original rarity or condition.
Value:
Despite the “holed” designation, a 1794 large cent, even in P1 Details, still holds historical significance due to its age and the fact it’s an early U.S. coin. The S-22 attribution adds interest for variety collectors.
For a 1794 1c Liberty Cap Large Cent, Head ’94 S-22 ANACS P1 Details Holed, the value is significantly diminished by the hole. However, it still holds value as a genuine piece of early American coinage.
Based on recent market data for similar “holed” early copper cents in low grades, you could expect a retail value in the range of $200 to $600, depending on the size and placement of the hole, the overall eye appeal despite the hole, and the specific S-22 variety’s inherent demand (even in damaged state). Some examples on online marketplaces may be listed around the $400-$500 mark.
Important Considerations for “Details” Coins:
- No Numerical Price Guides: Standard price guides (like those from PCGS or NGC) usually do not list prices for “Details” coins because the impact of damage varies too widely.
- Collector Base: “Details” coins primarily appeal to collectors who prioritize owning a genuine example of a rare date/type over a perfect, problem-free specimen, or those who collect specific die varieties regardless of condition.
- Liquidity: They can be harder to sell compared to problem-free coins, and will always sell at a substantial discount to problem-free examples of the same variety and wear grade.
In summary, it’s a genuine and old coin, authenticated by ANACS, and identified as a specific variety. However, the “holed” nature means its value is much lower than an intact coin of the same date and wear grade.