1797 Large Cent - 1797 1C PCGS AU58 CAC. 1797 Large Cent, S-138. This eye-appealing, glossy, brown Large Cent comes with the provenance of the Paul Gerrie Collection. The near-Uncirculated coin is completely original and clean, with virtually no abrasion marks or other distractions. Just a trace of wear on the highest points keeps this beauty from a Mint State grade. Hints of original red are found on both sides as well as mint luster within the devices. The strike is above average with full details on Libertys hair behind her forehead. The CAC sticker tells us that this is a premium quality piece that fully deserves the assigned grade.

The S-138 variety is indentified by the placement of LIBERTY. The left foot of the R touches the highest wave of hair. The point of the curl is under the center of the upright of the B. The B is perfect, and there is an engravers scratch from its upper serif to over the I. The junction of the hair and forehead is under the center of the upright of the T. The 1 in the date is close to the hair, and the right top of the 7 almost touches the drapery. On the reverse, the right stem points just past the final A in AMERICA and bisects the C diagonally. The left stem points to the left foot of the left stand of the N in UNITED. There is a swelling in the upper right portion of the coin, which weakens the last letters in STATES OF and the first letter in AMERICA.

The coin designed by Robert Scot, shows Liberty in profile facing right. Her hair is tied with a ribbon in the back but most of it falls to her shoulder with a curl below the truncation. Each strand of hair ends in a curl. LIBERTY is above and the date is below. The design was based on a drawing by Gilbert Stuart that was first used on some silver dollars of 1795 and later used on half-cents of 1800 to 1808. The reverse shows an open wreath of laurel tied with a bow. Within the wreath, on two lines, is the denomination, ONE CENT. The legend UNITED STATES OF AMERICA surrounds the wreath at the periphery. At the bottom, between the ribbon ends is the fraction 1/100.    

Thomas Jefferson chose Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. Scot was born in 1744 in Edinburgh, Scotland or England. (Documentary evidence is lacking as to where he was born.)  He was trained as a watchmaker in England and learned engraving afterwards. He moved to the United States in 1777, where he worked as an engraver of plates, bills of exchange, and office scales. During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was $1,200 per year. The Mint Director received only $800 dollars per year more. Scots ability to make dies was limited, and in his advanced years he had failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. He was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on early silver coins and the Capped Bust gold coins. Scot also designed the 1794-1797 half-cent, the 1800-1808 draped bust half-cent, and the Thomas Jefferson Indian Peace Medal. He died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

The Paul Gerrie Large Cent Collection was auctioned in February 2013. The auctioneers said that, Mr. Gerrie is a true connoisseur of old copper, and the coins in his collection reflect his passion for originality and high-quality early large cents.The results of the Gerrie Collection sale helped prove two facts: (1)The market for early-date large cents is as strong as ever. (2)High quality and good eye appeal inevitably lead to strong sale prices for copper coins.

In its population report, PCGS shows 1, 1797 S-138 in AU58 condition with 1 better. As of June 2013, CAC shows 1, the present coin, confirmed at the AU58 grade level. CAC does not distinguish Large Cents by die variety.