1773 Virginia Penny - Proof

Coin Details

Auction Record

$47,000 • PR66 BN PCGS • 08-2012 • Heritage Auctions

Description

Cataloged as W-1390, Newman 1-A, Breen 182, and PCGS #246, this proof striking of the 1773 Virginia Penny represents the finest production quality achieved for the last colonial coinage authorized before the American Revolution. Struck in copper, weighing 8.75 grams with a 28.6 mm diameter and distinctive engrailed (scalloped) edge, this proof-only issue was produced on specially prepared polished planchets using polished dies, creating the mirror-like fields and frosted design elements that characterize proof coinage. Rated R.6 with approximately a dozen examples known across all grades, the proof Virginia Penny is a genuine rarity within colonial American numismatics. The Virginia coinage was authorized by King George III and struck at the Tower Mint in London in 1773, intended for circulation in the colony of Virginia — one of the last official British coinages produced for the American colonies before the Revolutionary War severed those economic ties permanently. An auction record of $47,000 for a PR66 BN PCGS example at Heritage Auctions in August 2012 demonstrates the substantial premiums that high-grade colonial proofs command. The proof format — multiple strikes on polished planchets — was still developing as a concept in the 1770s, making pre-Revolutionary proof colonial coins exceptionally uncommon. The engrailed edge treatment provides an additional security feature and decorative element that distinguishes the Virginia penny from contemporary colonial issues.

Rarity Notes

R.6. A dozen examples known in all grades. Proof-only issue struck on specially prepared planchets.

Cross References

W-1390, Newman 1-A, Breen 182