Designed by Herman Ihlenburg for MacKellar, Smiths & Jordan in 1874 [Reichardt]. Patented by Peter A. Jordan in 1875 [USPTO]. The date of release may be 1876 because it is said to be released in celebration of the centennial (hence the name) of American independence [Canada Type].
Revived by Canada Type in 2007. The ornamental caps were revived by Intellecta as Centennial Script Fancy.