Schaumburg, Illinois was the site of last week’s “Central States Signature U.S. Coin Auction.” Among the treasures offered to auction goers was a one cent experimental coin minted in 1792. The 1792 Silver Center cent was made of one-fourth cent worth of copper, and had a silver plug in the center that was worth three-fourths of a cent. The purpose behind the coin’s design was to allow a lighter weight coin for practical use as legal tender. At the time, a penny made entirely from copper would have been too heavy for use in trade!
Henry Voigt, who held the title “Chief Coiner,” designed the coin, which is arguably one of the most historically significant in US coin history. Extremely rare today, only fourteen of these coins survive by official count. The Silver Center cent was the first coin ever struck on the United States Mint grounds, further enhancing its historic importance. Silver Center cents were never produced for circulation.
