1876 T$1 Type II/II N1 认证号26037093, PCGS号510103

The 1876 Type II/Type II is very rare, this one popped up raw on a eBay in early 2012. The coin looks to have been through a few wars, with some dark staining on the obverse. PCGS deemed that it has"environmental damage" probably based on what looks like an ink stain on the obverse. I have studied this coin for hours and I'm still not 100% convinced that it is either a business strike or an impaired proof. In the right light, the flash of proof-like fields can be observed. Along with the lack of die cracks, this coin possibly was struck as a proof. On the other hand, the obverse head and reverse eagle's talon are not well struck, as one might expect of a proof issue. Based on appearance alone, my gut says this is a worn, spent proof issue coin however there appear to be 2 planchet flaws in the right obverse field around stars 11 and 12. Maybe this was a proof, rejected for quality issues? Either way, a tough coin to find with the Type II/Type II obverse/reverse combination. I'll go with PCGS on this one and refrain from offering a grade. It has it's problems but I'd rather have this look than a scrubbed white coin. I'm waiting patiently for a nice properly graded example to come along. Some day.