The Fugio cent from 1787 that says “Mind Your Business” is an interesting and historically important coin that can be worth a lot of money based on its condition and the type of coin it is. Here is a summary of the coin’s past, what it’s worth, and the things that affect its price:
1. A Brief History of the Fugio Cent of 1787
Under the Articles of Confederation, the Fugio cent was the first legal coin that the United States made. It was designed by Benjamin Franklin. The coin was made in 1787, in the early years of the United States’ freedom.
It was used as a regular coin after the Revolution. People think that the Fugio cent was one of the first coins that the U.S. government made.
A sun dial with the Latin words “Fugio” (meaning “I fly” or “I am gone”) and the motto “Mind Your Business” (which shows Franklin’s belief in the value of hard work) are on the coin. The 13 linked rings on the back of the coin represent the 13 original countries, and the words “We Are One” are written on it.
2. How much do 1787 Fugio Cent coins worth?
A 1787 Fugio cent’s value can change a lot depending on its grade (or condition), the type of coin it is, and whether it has been certified by a professional grading service. These are some broad rules:
1. A grade for condition
- This Fugio cent is in bad shape and has lost a lot of its character. It is still worth $400 to $600 though.
- Fine (F-12): Fine coins can be worth between $800 and $1,200. They have more detailed designs like the motto and sun clock that can be seen.
- Very Fine (EF-40): A coin in this state with clear details can fetch $2,000 to $3,000.
- Without being used: If a Fugio cent is in perfect condition (MS-60 or higher), it can be worth $5,000 to $10,000 or even more, based on how good it is.
Different kinds
The value of a 1787 Fugio cent can change because there are different types. The main difference between these types is where the letters or symbols are placed on the coin or how it was minted.
In very good shape, the “NJ” variety (which has “New Jersey” written on the back) and the “Pennsylvania” variety can fetch $10,000 or more.
Collectors may also pay more for coins that have flaws like die cracks or weak strikes.
3. Important Things That Affect the Price
- Grade/state: As was already said, the state is a big part of what the price is. As the grade goes up, the coin’s value goes up.
- Type of Cent and Mint Mark: Some types of Fugio cents are harder to find and more valuable because of this.
- Because it was one of the first official U.S. coins, the Fugio cent is seen as an important piece of U.S. numismatic history, which makes it more valuable to fans.
- Demand: The demand for early U.S. coins changes based on how interested people are in collecting historical U.S. coins.
4. Interesting Facts About the Fugio Cent of 1787
Artist: Benjamin Franklin, one of the Founding Fathers of the United States, made the piece. Franklin’s designs for coins showed both his intellectual and practical views on the new country.
“Mind Your Business”: Franklin believed in personal responsibility, independence, and hard work, which is reflected in his catchphrase. Not many people used that word back then, which made the coin even more interesting and easy to remember.
The first official U.S. coin was The Continental Congress made some coins before the Fugio cent, like the Continental dollar. However, the Fugio cent is thought to be the first official coin of the United States government under the Articles of Confederation.
5. What to Look for in a Fugio Cent
Check the Condition: Look at the coin to see if it has any wear. The more wear there is and the clearer the features are, the more valuable it is. There is a sun clock and the words “Mind Your Business” that need to be seen immediately.
Look for Different Types: Check to see if your coin has any unique features that would suggest it is a special type. Some changes to the style, like where the letters or numbers are placed, can make it more valuable.
See More: A 1975 Roosevelt Dime Worth $350,000? How To Tell If You Have One Of These Rare Dimes
Get a Grade: You could send your coin to an expert grading service like the Numismatic Guaranty Corporation (NGC) or the expert Coin Grading Service (PCGS) to get an accurate value. They can verify your coin’s authenticity and give it a grade, which can make it much easier to sell and raise its value.
