Congress passed a resolution on April 21, 1787 authorizing a contract to produce a large quantity of copper cents. Another resolution on July 6, specified the devices to contain a sundial with the word Fugio (which means time passes quickly), the date of 1787, and Benjamin Franklin’s motto “mind your business” meaning, be about your business. The reverse of the coin contained 13 linked rings representing the original colonies and the caption “We are one”. James Jarvis was awarded the contract to produce the coins after bribing Col. William Duer with $10,000. Duer was head of the Board of Treasury!
Time does pass quickly and I love the double entendre, “mind your business”. Dubious history or not, the Fugio cent is my favorite coin.