1877 1C, RB MS(PCGS#2128)

Spring 2023 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

3082

等级

MS64RB

价格

67,798

详细说明

Choice Uncirculated 1877 Indian Cent Famous Key Date Issue 1877 Indian Cent. MS-64 RB (NGC). Offered is a rare and highly desirable Choice Red and Brown example of the famous key date 1877 Indian cent. Highly lustrous with a satiny texture, both sides retain plenty of original mint color in soft pinkish-orange. Blushes of light olive-brown patina are also noted, in keeping with the color designation assigned by NGC. Striking detail is universally sharp throughout, a rare attribute for an issue that is often seen with softness in one or more peripheral areas. Surface preservation is just as superior as striking quality for the issue, and fully deserving of the Choice Mint State grade. With just 852,500 pieces produced, the 1877 has the lowest mintage among circulation strike Indian cents after only the final year 1909-S (309,000). The 1877 is rarer than the 1909-S in all grades, however, because it was made during an era in which most collectors were content to obtain a Proof. As a result, circulation strike 1877 cents were generally overlooked in their day, and most found their way into commerce, which generally meant several years of recycling between the Mint and banks. Although popular during the Civil War and early Reconstruction eras when silver and gold coins had disappeared from circulation in the East and Midwest, by the 1870s large quantities of bronze cents had begun to accumulate in banks as public demand for them waned. Through the Act of March 3, 1871, Congress authorized the Mint to redeem these bronze cents (along with copper and nickel coins), melt them, and use the metal retrieved to strike new coins. In 1874 the Mint modified this practice by simply reissuing the redeemed coins alongside whatever newly struck examples were required to meet demand. In 1877, a depression year, the Philadelphia Mint redeemed an unusually large number of bronze cents - 9,908,148 coins (per Rick Snow, 2014) - and reissued 9,821,500 coins, largely meeting demand. Relatively few new coins were required, explaining the small mintage for the circulation strike 1877 Indian cent. This issue is eagerly sought in all grades, both circulated and Mint State. The present example is a notable condition rarity that numbers among the leading Indian cent highlights offered in our recent sales PCGS# 2128. NGC ID: 2284. Click here for certification details from NGC.