Found a Fugio Cent in my father's collection any idea which one it is and how much it might be worth

Discussion in 'Coin Chat' started by Jonathan Levitt, Aug 8, 2019.

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  1. Conder101

    Conder101 Numismatist

    I should always be double checked, I'm not perfect and I do make mistakes. Also I don't have a lot of experience on fugios. I do feel fairly confident on this one though.
     
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  3. mdwoods

    mdwoods New Member

  4. Jonathan Levitt

    Jonathan Levitt New Member

    I won't clean it thanks!
     
  5. Jonathan Levitt

    Jonathan Levitt New Member

    Hi Conder any idea what the value range would be at your grading? I tried looking it up but came up empty handed. thanks for all the valuable input.
     
  6. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    @mdwoods - why the 1967 British penny?
     
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  7. Eduard

    Eduard Supporter**

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  8. JeffC

    JeffC Go explore something and think a happy thought!

    I'm not at all an expert on its authencity but the fake Chinese ones are usually much more detailed, of a higher grade, and not as worn. So yours might be real. I'll keep my fingers crossed for you. Last year, I researched a bit about the Fugio because I was wondering why it's not considered "America's first one-cent piece." Another coin (The Flowing Hair Cent) is considered as our country's first "penny." But the Flowing Hair Cent is from 1793 while the Fugio is from 1787. Then I found out why. The minting of the Fugio was contracted out by the government and, interestingly, no where on the coin does it say ONE CENT. That's why (according to an article I read), the Fugio Cent is more properly termed, The Fugio Copper.

    I attach an article from the May issue of The Numismatist last year. Hope you find it interesting. Boy, how I wish I can get my hands on real Fugio Copper. But I can't afford it.

    Fugio-1.jpg

    And the legend, "MIND YOUR BUSINESS" is not what we might think it to be. Franklin was imploring us to be hardworking and diligent and to strive hard with our professions.
     
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  9. Neal

    Neal Well-Known Member

    What a great way to start out on Coin Talk! I hope it turns out to be genuine--it sure looks like it is to me, but I'm no expert.

    It's already been mentioned not to clean it. It is also important, especially for old copper coins, not to touch it with your bare fingers like on your original post. The oil and acid on even clean hands can corrode the copper. If you must hold it, do so only by the edges and very carefully. (Dropping them does nasty things to them as well--voice of experience.)
     
  10. Michael K

    Michael K Well-Known Member

    I think if genuine it is higher than $200.
     
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  11. LRC-Tom

    LRC-Tom Been around the block...

    I'm leaning toward it being authentic. It's certainly worth the cost of sending it in to one of the major services.
     
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  12. micbraun

    micbraun coindiccted

    I’d also submit it to NGC/PCGS/ANACS or ICG asap. All of the mentioned services should be able to authenticate it.
     
  13. Jonathan Levitt

    Jonathan Levitt New Member

    Thank You I'll follow your advice.
     
  14. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Agreed. You should submit it for third-party grading and authentication by a recognized service like PCGS, NGC, ANACS, or ICG. That will resolve the authentication issue (as mentioned, I think it's real), and make it more potentially saleable- and for a better price- whenever you or your own heirs sell it later.
     
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  15. PennyGuy

    PennyGuy US and CDN Copper

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  16. Jonathan Levitt

    Jonathan Levitt New Member

    Ok so I think I'll take your guys advice and get the coin graded by PCGS and an (optional) question they want answered is what what's the description number? On this link they have a variety of fugios but not sure which one mine is any help is appreciated. https://www.pcgs.com/pcgsnolookup/fugio-cents-1787/5954
    much appreciated
     
  17. Jonathan Levitt

    Jonathan Levitt New Member

  18. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I been looking at a lot of Fugio’s recently. This one is absolutely a bucket list coin for me and who knows when I’ll be called to cash in my bucket!

    I can tell you one of the markers that determine rarity is what they call a cinequfoil. Yours appears to be a four cinequfoil variety. All that is is a fancy name for the four leaf clover looking designs on either side of the date and the word “Fugio”. The four cinequfoil is the more common of the Fugios.

    And I’ll tell you this having shopped them of late. Values seem to be all over the place for these. Thing is, they seem to sell about as fast as they come available. Precisely the reason I do not yet own one! While I believe @Eduard is probably one of the most numismatically knowledgeable folks on the forum, I believe your piece is worth more than $200.00. Only say that because I have been shopping these lately. Thing is, it is hard to hone in on a true value until it is professionally graded by one of the TPG’s. Myself, I rather feel that NGC more favorably grades these colonial era pieces but that is entirely subjective.

    I sure hope you will keep us updated on this lovely piece of history!
     
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  19. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    I've had one- a nasty holed and corroded example, but it was identifiable- and only cost me forty bucks.

    Had a nicer VF example very briefly, on a swap deal that ended up falling through, so I never technically ended up owning it, though it was in my possession for a few days.
     
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  20. Jonathan Levitt

    Jonathan Levitt New Member

    Interesting although im now confused because on eBay I see someone sold a 4 cinquefoil that differs from mine in terms of condition obviously but more than that says United States mine says States United.

    https://www.ebay.com/itm/1787-US-1-Cent-Pre-Federal-Fugio-Copper-Pointed-Rays-Coin-/193006466882?hash=item2cf014f742:g:9L0AAOSwODBdNPm2&nma=true&si=PZ5O3C89P1q6uGqVa7Cn6YlOCQw%3D&orig_cvip=true&nordt=true&rt=nc&_trksid=p2047675.l2557
     
  21. Jonathan Levitt

    Jonathan Levitt New Member

    Ron Guth:

    The Fugio Cent is one of the most popular of all U.S. "colonial" coins because 1) it is a quasi-Federal coinage (in other words, not associated with a particular colony), and 2) it is available in fairly large quantities in Mint State thanks to the Bank of New York Hoard, which contained thousand of Uncirculated examples.

    The cinquefoils refer to the ornaments on the front of the coin: before and after FUGIO and before and after the date. The Four Cinquefoil obverses were combined with a number of different reverse types. This variety has the word STATES on the left side of the label on the reverse (others have raised rims, UNITED on the left side, etc.).

    Quality-control was good, but not strict on these coins, thus fully struck, well-centered examples are difficult to locate. Planchet laminations and voids are also common flaws on these coins. For these reasons, the typical grade for Mint State examples is MS62 to MS63. Gem are truly rare, and the best examples include three PCGS MS66BNs.
     
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