1870 1C, RD MS(PCGS#2099)

August 2021 ANA U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1171

等级

MS66RD

价格

62,193

详细说明

1870 Indian Cent. Bold N. MS-66 RD (PCGS). This exceptional premium Gem is fully struck with gorgeous rose and medium orange colors blanketing both sides. The Philadelphia Mint delivered 5,275,000 circulation strike cents in 1870, a smaller total when viewed in the wider context of the Indian series. The real reason for the scarcity of this date, however, is the Mint's wholesale redemption and melting of examples beginning in 1871. These redeemed coins had been stockpiled in bank reserves due to low commercial demand. In order to reduce the number of coins in circulation to a level that was more consistent with actual demand, the Act of March 3, 1871, required the Treasury to redeem all minor coinage in lots of no less than $20. The law made clear that the redeemed coins were not to be replaced, new coinage limited to meeting actual demand. This stipulation explains the relatively low mintages for circulation strike cents from 1871 through 1879. During the same nine-year period, the Mint redeemed and melted more than 31,000,000 copper-nickel cents and 55,000,000 bronze cents. The present example was not only fortunate to escape destruction, but it has come down to the present day with virtually pristine surfaces that are as bright and fresh as the day it was struck. A delight to behold, and a find for the advanced Indian cent enthusiast. Provenance: From the Silver Springs Collection. PCGS Population: 9; 3 finer in this category (all MS-66+ RD). PCGS# 2099. NGC ID: 227U. Click here for certification details from PCGS.