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The 1792 half Disme – The First U.S. Coin
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<p>[QUOTE="johnmilton, post: 3416036, member: 101855"]The Continental Congress stepped away from the Fugio Cents after they noted that the pieces were underweight and therefore could only be traded as "coppers" not cents. They were not issued as cents, but were sold to a speculator, Royal Flint, on credit. Flint found that he could not issue them in the over saturated copper coin market of the time at a profit and was left holding the bag. When he could not pay his debt to the government, he was carted off the debtors' prison.</p><p><br /></p><p>The Fugio Cent was never an official government issue. The Continental Congress authorized it, but never issued it as an official U.S. Government coin.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 3416036, member: 101855"]The Continental Congress stepped away from the Fugio Cents after they noted that the pieces were underweight and therefore could only be traded as "coppers" not cents. They were not issued as cents, but were sold to a speculator, Royal Flint, on credit. Flint found that he could not issue them in the over saturated copper coin market of the time at a profit and was left holding the bag. When he could not pay his debt to the government, he was carted off the debtors' prison. The Fugio Cent was never an official government issue. The Continental Congress authorized it, but never issued it as an official U.S. Government coin.[/QUOTE]
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