The 1787 Fugio cent, often called “America’s first official coin,” is a fascinating relic from the early years of the United States. Designed by Benjamin Franklin, it combines historical significance, unique design elements, and symbolic messaging, making it highly prized among collectors. This article looks into the coin’s history, its value, and the factors that influence its worth.
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1787 Fugio Cent
The Fugio cent was minted in 1787 under the Articles of Confederation, making it the first official coin of the United States. Benjamin Franklin designed the coin, incorporating his values and beliefs into its imagery.
- Obverse: Features a sun dial with the Latin word “Fugio” (meaning “I fly” or “I am gone”) and the motto “Mind Your Business,” reflecting Franklin’s emphasis on hard work and time management.
- Reverse: Displays 13 linked rings symbolizing the unity of the original 13 states, along with the inscription “We Are One.”
This coin circulated after the Revolutionary War and remains a key piece of early American numismatic history.
1787 Fugio Cent Worth
The value of a Fugio cent depends on its condition, type, and rarity. Below are general value ranges:
A. Condition
| Condition | Value Range | Details |
|---|---|---|
| Poor Condition | $400–$600 | Worn but identifiable features. |
| Fine (F-12) | $800–$1,200 | Clearer details, including motto and sun dial. |
| Very Fine (EF-40) | $2,000–$3,000 | Strong details, minimal wear. |
| Uncirculated (MS-60+) | $5,000–$10,000+ | Exceptional preservation, sharp details. |
B. Varieties
The value can vary based on specific types and varieties, which often differ in lettering placement or minting techniques.
- “NJ” Variety (New Jersey): Features “New Jersey” on the reverse. High-grade examples can exceed $10,000.
- Pennsylvania Variety: Another rare type with unique characteristics. High-grade examples also fetch premium prices.
- Errors and Flaws: Coins with die cracks, weak strikes, or other minting errors may command higher prices.
Factors Influencing the Value
Several factors determine the value of a Fugio cent:
- Condition: Higher grades fetch significantly higher prices due to their rarity.
- Type and Variety: Certain types, like the “NJ” variety, are rarer and more valuable.
- Historical Importance: As the first official U.S. coin, it holds immense historical value.
- Demand: Popularity among collectors can drive up prices.
Fun Facts About the Fugio Cent
- Designed by Benjamin Franklin: The coin reflects Franklin’s practicality and intellectual philosophy, emphasizing self-reliance and unity.
- Unique Motto: “Mind Your Business” wasn’t just a financial directive but a call for personal responsibility and industriousness.
- First Official Coin: While earlier coins like the Continental dollar exist, the Fugio cent is considered the first official coin minted under U.S. government authority.
Fugio Cent
Examine the coin carefully for wear. Sharp details, including the sun dial, the “Mind Your Business” motto, and the linked rings, increase value.
Identify Varieties
Look for distinctive features that may indicate a rare variety. Differences in lettering or symbols can make the coin significantly more valuable.
Get Professional Grading
Submitting your coin to a grading service like NGC or PCGS can verify its authenticity and assign an accurate grade. This can significantly enhance the coin’s marketability and value.
The Fugio cent is not just a coin—it’s a piece of early American history. Whether you’re a seasoned collector or a curious beginner, owning such a relic offers a tangible connection to the founding of the United States. Check your collection—you might be holding a treasure!
FAQs
What is the value of a Fugio cent?
Values range from $400 to over $10,000 depending on condition and type.
Who designed the Fugio cent?
Benjamin Franklin designed the Fugio cent with practical and symbolic themes.
What does ‘Fugio’ mean on the coin?
‘Fugio’ is Latin for ‘I fly’ or ‘I am gone,’ symbolizing the passage of time.
Why is ‘Mind Your Business’ on the coin?
It reflects Franklin’s belief in self-reliance, hard work, and personal responsibility.
What is special about the linked rings on the Fugio cent?
They represent the unity of the 13 original states with the motto ‘We Are One.’
