Oct 3, 2021
Michael Fahey writes about what is arguably the first official U.S. coin, and why collectors must do their due diligence before purchasing.
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Michael Fahey writes about what is arguably the first official U.S. coin, and why collectors must do their due diligence before purchasing.
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In 1787, the Fugio cent was the first US coin to be authorized by Congress and minted. It was made of .36 oz of copper and bore the phrases 'Mind Your Business' and 'We Are One'. - WTF Fun Facts
Source: https://www.frbatlanta.org/about/tours/story-of-money/11-after-revolution/fugio-cent.aspx
On April 21, 1787, the Congress of the Confederation of the United States authorized a design for an official copper penny, later referred to as the Fugio cent because of its image of the sun shining down on a sundial with the caption, "Fugio" (Latin: I flee/fly). This coin was reportedly designed by Benjamin Franklin; as a reminder to its holders, he put at its bottom the message, "Mind Your Business."
"Mind Your Business"
Today I learned… the very first coin minted in the United States was a copper penny that, instead of bearing a motto like “In God We Trust,” or even “E Pluribus Unum,” had the motto “Mind Your Business.”
The 1787 coin was designed by Benjamin Franklin, and became known as “the Fugio Cent,” because one face of the coin had the Latin word “Fugio,” meaning “I fly” on it, next to a sundial (time flies?) and just below, the motto, “Mind Your Business.”
The other side had the words “We Are One” and 13 interlocked circles, representing the original 13 states.
For the record, “Mind Your Business” was not a rebuke, which it would have been had it said “mind your own business.” Instead, it was Franklin’s way of encouraging newly-minted Americans to be diligent, work hard, and take personal responsibility for making the new nation prosperous.
Oh, and contrary to popular belief, Ben Franklin did not actually say, “A penny saved is a penny earned.” What he wrote in Poor Richard’s Almanack was “A penny saved is two pence clear. A pin a day’s a groat a year.” (A groat was worth four pence in those days.)
And now you know.
The first U.S official coin in circulation, the Fugio Cent, had the motto "Mind Your Business" instead of "In God we Trust".
Source
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The Fugio Cent, designed by Benjamin Franklin.
This coin was reportedly designed by Benjamin Franklin; as a reminder to its holders, he put at its bottom the message, "Mind Your Business." The image and the words form a rebus meaning that "time flies, do your work."
got bored and redrew the Fugio Cent. Its alleged that Benjamin Franklin designed it. I especially like the bottom line. Franklin was known for aphorisms, and some believe it is to be taken literally because when the picture and text are put together, they mean “Time flies, mind your business.” But personally, based on no substantiated research, I like to see it as a double entendre. (Keep your life private and pay attention to your business.)