1877 1C, RD MS(PCGS#2129)

June 2021 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1304

等级

MS65RD

价格

168,935

详细说明

Landmark Full Red Gem 1877 Indian Cent Famous Key Date Issue 1877 Indian Cent. MS-65 RD (PCGS). Offered is a rare and highly desirable full Red Gem Mint State example of the famous key date 1877 Indian cent. Highly lustrous with a satin to softly frosted texture, both sides retain full mint color in bright pinkish-rose. The right peripheral areas on both sides are softly defined, one of the dies was either misaligned in the press or partially clogged with foreign matter. Elsewhere we note razor sharp to full striking detail. Surface preservation is superior for the issue and fully deserving of the coveted MS-65 RD grade from PCGS. 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 Gem is a significant condition rarity that numbers among the leading Indian cent highlights offered in our recent sales. PCGS Population: 25; 12 finer in this category (MS-66+ RD finest). PCGS# 2129. NGC ID: 2284. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA. Click here to see Coins in Motion.[“Coins]