1874 1C, RD MS (PCGS#2120)
December 2020 U.S. Coins Auction
- 拍卖行
- Stack's Bowers
- 批号
- 1167
- 等级
- MS65RD
- 价格
- 13,371
- 详细说明
- 1874 Indian Cent. MS-65 RD (PCGS). OGH.
Blended deep orange and more vivid reddish-rose colors are seen on both sides of this beautiful Gem Mint State example. It is frosty and smooth with bold to sharp striking detail enhancing its appeal. In the post Civil War period, as economic conditions eased up, base metal coins resumed circulation in earnest, though with legal tender limitations. The Mint Act of March 3, 1871, gave the Mint the ability to redeem base metal coinage that had been stockpiling in banks and use the metal for production of new coins. This resulted in many millions of freshly produced coins being turned in for recoinage. In 1874, the policy was revised so that the Mint could only buy back any base metal coins in batches greater than $20. In addition, they were no longer required to melt down the redeemed coins if there were adequate quantities already in circulation, only if there were too many already in use. Thanks to this change, the Indian cents of 1874 have a higher number of survivors than previous bronze cents. That said, another provision of those policy changes helped to ensure that high grade examples are scarcer than one would think. Instead of melting down the turned in cents, the Mint could instead reissue the coins along with freshly struck pieces. While there may be more than a thousand Mint State 1874 cents remaining from the mintage of 14,187,500 pieces, most are at the Choice levels of preservation, and most of those qualify as Red Brown. Gem Mint State specimens with full original mint red color are true condition rarities and eagerly sought after by small cent specialists. An opportunity not to be missed.
Provenance: From the Larry H. Miller Collection.
PCGS# 2120. NGC ID: 227Z.
Click here for certification details from PCGS.
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