Did you know that June 10, 1752, is remembered as the day Benjamin Franklin performed his famous kite experiment? He flew a kite in a lightning storm to demonstrate the connection between lightning and electricity.
As one of the most curious, productive, and distinguished of our founding fathers, Franklin played many important roles in the establishment of the United States. One of Franklin’s contributions to the new country was the design of what is considered the first-ever circulated coin of the USA.
Known as the Fugio cent, the original minting of the coin was contracted with an unscrupulous fellow named James Jarvis and the contract was pulled as soon as his deceit was detected. The fraud contributed to a national copper panic and led to the end of production for the coin.
Fugio is Latin for "I fly." As it appears on the obverse of the coin, it is in reference to time and completes the phrase "Time Flies." One could also think of it as referring to Mr. Franklin and his kite-flying days.
Shown is lot 1118 in our June 2022 Showcase Auction.?