Frightened Liberty Pennies Lead $10.7 Million Cent Auction

A selection of so-called "Frightened Liberty" Chain Cents, which were minted in 1793 at the newly opened Philadelphia Mint, were among the 301 U.S. Large Cents in the Husak Collection that sold for an amazing $10.7 million dollars in Long Beach last night (Sat., Feb. 16, 2008.) The Frightened Liberty penny pictured here was at $253,000, (including buyers premium,) when the gavel fell at this prestigious Heritage Signature Night auction. Doing the math, 301 Large Cents each had to sell for an average of $35,548 per coin to reach the $10.7 M figure!

The Frightened Liberty cent is so-named because when the public saw the rendering of Lady Liberty on the coin, they thought she looked frightened. At a coin show where a rare Chain Cent was on display, I once heard a child ask his dad if the lady on the coin had stuck her finger into a light socket! (It sure looks that way, doesn't it?) Numismatic art has, fortunately, improved although we've certainly had a few dogs here and there along the way.

Photo courtesy of Heritage Auction Galleries. Check out all 301 Large Cents that sold last night.

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