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The US Large Cent 1798 Draped Bust Hair 2, graded AG (About Good), stands as a significant relic from the early years of American coinage. This coin, with its Draped Bust design, is part of a transitional phase in the history of the US Mint, reflecting both the artistic and technical evolution of American currency during the late 18th century.
The year 1798 marks a pivotal moment in the history of the United States Mint. Established by the Coinage Act of 1792, the Mint in Philadelphia was the nation's first official minting facility. By 1798, the Mint was well into its efforts to establish a stable and recognizable currency for the fledgling United States. The Draped Bust design, introduced in 1796, was part of this effort to create a coinage system that both represented and unified the young republic.
The obverse of the 1798 Large Cent features the Draped Bust design, which was created by the engraver Robert Scot. This design portrays Liberty with a flowing drapery that drapes across her shoulders and chest, symbolizing both the elegance and the emerging national identity of the United States. The Draped Bust design was a significant departure from the earlier Liberty Cap design, offering a more refined and mature representation of Liberty.
On the obverse of the coin, Liberty’s portrait is shown with her hair styled in a loose, flowing manner. This version of the Draped Bust design, known as "Hair 2," features a distinct style of hair detail, which is important for collectors and numismatists as it helps identify the specific variety of the coin. The inscriptions “LIBERTY” and the year “1798” appear around the edge of the coin, contributing to its historical and artistic significance.
The reverse of the 1798 Large Cent is marked by a simple yet elegant wreath design encircling the coin’s denomination, “1 CENT.” The wreath consists of a combination of agricultural elements, including corn and wheat, which symbolize the agricultural foundation of the early American economy. The inscription “UNITED STATES OF AMERICA” is placed around the wreath, reinforcing the coin’s status as legal tender and its role within the national monetary system.
Regarding mintage, the 1798 Large Cent was produced in relatively small quantities compared to later years. The total mintage for the 1798 issue is estimated to be around 350,000 coins. This relatively limited production number, combined with the coin’s age and historical significance, contributes to its desirability among collectors. The AG grade indicates that the coin has experienced significant wear and circulation over the years, with many of the finer details having been worn down. Despite this, the coin remains a valuable piece of American history and numismatics.
The Draped Bust design of the 1798 Large Cent represents a key moment in the evolution of American coinage. This design was part of the Mint’s ongoing efforts to produce a currency that reflected the values and aspirations of the new nation. The transition from the Liberty Cap design to the Draped Bust design marked a shift towards a more sophisticated and enduring representation of Liberty, which would continue to influence American coinage for years to come.
The 1798 Large Cent, with its Draped Bust Hair 2 design, is a cherished artifact for collectors and historians alike. It offers a tangible connection to the early years of the US Mint and provides insights into the artistic and technical developments of American coinage. As a historical and collectible piece, the 1798 Large Cent remains an important symbol of the United States’ early efforts to establish a stable and recognizable currency system.
Collectors value the 1798 Large Cent not only for its historical significance but also for its role in the broader context of American numismatics. The coin provides a glimpse into the challenges and successes of early American coinage and continues to be a sought-after item for those interested in the rich history of American currency.