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Mike 's Blog

01 Dec 2020

The Fugio Cent 1787

Coins | Mike

Hi everyone. The Fugio Cent is probably the most Historical and significant coin made by the United States. Why? It was the first coin made by the United States Fugio is Latin for I fly. It was designed by none other than Benjamin Franklin. Now this story can get very complicated. I will stay with the readers digest version.
It was made by James Jarvis of New Haven Connecticut. He made three hundred tons. That's how they were counted in Britain and since Matthew Bolton head of the SoHo mint was notified about making this copper. He told them the in and outs. He made coppers that I collect today.. They determine weight of the coin they divide the weight of a coin and figure how home by were in each batch they made.

Now it does not state how many reached circulation because the following year they were stored in the Bank of New York. Now they were stored in barrels. That's the way they stored most items of the day. Now this great coin of course was forgotten about. Imagine that the 13 colonies vote on making a coin designed by one of the founding fathers and they put it in the vault of a bank the very next year. It was re discovered in 1856.
Now the raw coins are what they should look like. But do to a water leak many were corrode. Mine if you enlarge it says that. Could my coin of come from that batch? I think it has a good shot.The obverse has a sun dial around it is the time. Time flies. In the bottom it has a statement from Mr. Franklin. "Mind Your Own Busines". Now this is not a harsh statment. It means do well in bussiness. Or grow your own bussines. . The chains stand for the thirteen colonies.. It has the United on one side of the circle and States in the other. Cinq stands for high rims or different varities.

The exact date was April 21,1787 I only wish I could have been there. We're did I get mine. ? I don't have a clue. I just hope it was real. It is. I didn't care about a grade. I wanted to own history. And now I do. This is the start of our economy. One coin brought us were we are today. Amazing!!

They were rapped in cotton. And the Bank Of New York handed them out to favorite customers this happens in 1948 . Then the American Numismatic Society examined the 1641 coins they were all found to be in MS. Now the Bank of New York was taken over by the Melon Bank mailing it known as the Melon Bank of N. Y.. There are suppose to be 819 still out standing. Any one what to go to the bank. The rumors say that as 2013 they were till there. I really wanted to tell the whole story but there is to much And you can get confused. Look some of the story up. This you will enjoy. One site has P.C.G.S. Stating it was mad at the Philadelphia mint. Sorry P.C.G.S. That mint was not producing anything then. I really tried to bring justice to this historic coin but it would of taken months. I tried to make it understanding. At least you got the basis of this coin. I did increase the brightness of the obverse so you could see some detail.

Please.enlarge the picture of the coin So you can read the label. Thanks.


This coin believe me looks allot better than a picture. You see more

Comments

coinsbygary

Level 5

There she be! Nice coin, Mike!

I would love to have one of these. The design is excellent and you can't get more historical than this. Thanks Mike!

Stumpy

Level 5

Many people would love to have such a coin in their hands, as LongBeard said, you are a caretaker of this coin. What history, what could this coin tell us? Corny, yes, but I often think that when I admire an old coin. Later!

Long Beard

Level 5

Very informative. Congratulations on becoming the next caretaker. After all, that's what coin collectors are. The one you possess may be old and worn out, but it is not completely lost to history.

"SUN"

Level 6

Mike, you did a great blog. Interesting coin to have in your collection.

TheNumisMaster

Level 5

Loved this informative blog! I enjoy the Fugio very much, and hope that one day CoinHunter and I will be able to afford one! Haha. Cheers, NM

Longstrider

Level 6

I agree with Bama, do a couple of more blogs telling us more of the history. That would be a fun read. This is a great blog. I'm very happy for you to get a genuine item. Very cool Mike. Thanks for the update.

CoinHunter

Level 5

If only I could afford one. :(

Golfer

Level 5

That is great you got it graded. Glad you did, to authenticate the coin. The history of the Fugio is something. I bought one for the history and Ben Franklin.

CoinHunter

Level 5

Thanks for the info! it is very intriguing to think that you can own an American coin that is so old.. 🤔

The MoKe

Level 6

A wonderful coin and an even better historical context. However that Fugio Cent came to your collection, it is in the best hands possible. Thanks Mike!!!

World_Coin_Nut

Level 5

Thanks for the history lesson Mike. That is a coin that I haven't added to my collection yet. Hopefully some day.

I. R. Bama

Level 5

This was really interesting to me; I hope you do a part 2 and maybe even a part three if necessary for this important coin!

CentSearcher

Level 5

Cool! I never studied the early colonial coins, so I didn't even know much about this one. Thanks for the great blog!

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