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Images courtesy of Superior
Stamp & Coin
Notes:
The 1877 Indian Head Cent has the second lowest mintage of any date in
the series (the 1909-S has the lowest) and the lowest mintage of any
Indian Head Cent produced at Philadelphia, thus making it one of the most
desirable dates to own. Most examples of the 1877 Indian Head Cent
are heavily circulated. While the 1877 is no rarer in Uncirculated
condition than some of the other dates in the 1870's, collector demand has
always placed a premium on this date. The same is true of Proof
examples of this date. Many counterfeit 1877 Indian Head Cents
exist, so certification is a must.
The finest Uncirculated Brown examples graded by PCGS are
3 MS-65BN's
The finest Uncirculated Red-Brown example graded by PCGS are 3 MS-66RB's.
The finest Uncirculated Red examples graded by PCGS are 5 MS-66RD's.
The finest Proof Brown examples graded by PCGS is a single PR-66BN.
The finest Proof Red-Brown examples graded by PCGS are 4 PR-66RB's.
The finest Proof Red examples graded by PCGS are 2 PR-67RD's.
The finest Proof Cameo examples graded by PCGS is a single PRCA-66.
Significant examples:
PCGS Proof 67, Red - Superb!
Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot
4063, illustrated, sold for $36,800.00 Tied for finest certified
PCGS Proof-67 Red. Offered
for $37,500.00 by The Mint in an advertisement in the July 18, 2000 issue
of Numismatic News. Holder #6586335
PCGS graded Proof 66 Red.
Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection,
Part I", February 16, 18-20, 2001, lot 1114, illustrated, where it was
described as follows: "…An outstanding example of this key date. As one
should expect for a coin in this grade, the surfaces are nearly perfect. A
small Mint caused planchet void is visible on the reverse inside the
wreath at 3:00, but this is not grade limiting. This example is virtually
unimprovable with moderately deep mirrors. Only 10 examples have been
graded by PCGS in this lofty grade with 2 graded higher.
Always popular as a proof example of the key date in the Indian Cent
series. No precise mintage figure exists for the proof 1877 Indian, but
enough information is available to make an educated guess. Breen lists 510
in his Proof Encyclopedia. The present estimate is now 910. It is known
that 510 "Silver" sets were sold which included the five silver coins, the
two nickel coins and the cent. Additionally, there were about 400 "Nickel"
sets struck which included just the cent and the two nickel coins, of
which we know 260 were mailed out, with the unknown remainder being sold
over the counter in Philadelphia.
The reverse die used to strike this example is the "Bulged T" reverse,
which was first used in 1872 and was used to strike many of the proof
issues between that date and 1877. The right pennant of the T is in much
higher relief that the other parts of the letter. This feature neither
raises nor lowers the desirability of the coin. Color photo.", sold for
$14,375.00
PCGS graded MS-66 Red. Ex -
Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part
I", February 16, 18-20, 2001, lot 1115, illustrated, where it was
described as follows: "…This is an outstanding gem example with vibrant
luster and great strike. At present there are 5 examples graded by PCGS
with none graded higher. The obverse is virtually mark free, while the
reverse does show two light contact marks under the E in CENT and between
the E in ONE and the wreath. There is also a mark hidden in the wreath at
3:00. Other areas of alternating luster are Mint caused. There are two
planchet voids to the right of the E in ONE caused by a liquid, probably
machine oil, on the planchet at the time of striking. There are light
unobliterated planchet marks on the high points of the right wreath. Three
or four light clash marks are visible above the O and E in ONE. These are
transferred from the chin and last feather of the obverse portrait. The
clashing and Mint made anomalies are not grade limiting. This example is
an exquisite example and probably ranks as 3rd or 4th finest known.
All non-proof 1877 Indian cents are seen struck using one reverse die,
which shows a shallow N in ONE. This is a reverse type used from the
1860's until 1869 and sporadically thereafter until 1873. This reverse die
shows no die cracks, although 90% of this issue show the clashing
described above. How could the entire mintage of 852,000 pieces have been
struck with only one reverse? I do not have an answer. Mint records show 6
reverse dies being produced for regular coinage in 1877, but 4 were not
used until 1878, leaving 2 reverse dies used for 1877. Where are the coins
struck from the second die? Is that one of the proof dies? Either the
actual mintage is even lower than the number customarily reported, or the
entire batch of 1877's from a second die is missing.
The mintage of 1877's was an all time low for the series, not to be
underproduced until the 1909 San Francisco Mint Indian Cent. It is true
that the low mintage is due in part to a slowdown in the economy, which
forced large quantities of older cents back into circulation. This caused
the Mint to produce less new cents. However, this explanation
oversimplifies the cause and effect. To get to the real reason of the
scarcity of cents of this date we must go back to the Mint act of 1864,
which gave a limited legal tender limit of only ten cents to the new
bronze cent. No special legislative action was made to allow Banks to move
the quantities of cents that accumulated in their vaults. The action
needed to alleviate this problem came in the form of the Mint act of March
3, 1871, which required The Mint to redeem the older minor coins in any
quantity. At first the coins, which in addition to bronze cents included
older copper cents, half cents, copper-nickel cents, bronze two cent
pieces, nickel three cents and nickel five cent pieces, were melted and
recoined into new three and five cent nickels and bronze cents. By 1874,
as less and less of the pre-1864 coinage was being redeemed it became
obvious that the remaining bronze cents and nickel coinage could just be
taken in and paid out without going through the recoinage process. The
Mint then operated as a clearinghouse for the backlog of minor coins,
reissuing them side by side with newly minted coins. Since the coins were
already on the books from their original mintage, they were accounted for
separately from the mintage of new coinage. With the surge of redemption
in 1877, new coinage was cut off early in the year. Over 10 million cents
were issued in 1877, but less than 1 million of them were new coins
carrying that date. The rest of the issuance was made up of older coins.
Color photo.", sold for $29,900.00
PCGS MS-66 Red. Offered for
$79,500.00 by The Mint in an advertisement in the July 18, 2000 issue of
Numismatic News. Holder #5668377
Recent appearances:
PCGS Proof-66 Red. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7627, illustrated, not sold
NGC Proof-66 Red and Brown.
Ex - Stack's 12/2003:63, sold for $7,187.50
PCGS Proof-65 Red. Ex-
Heritage Numismatic Auctions, Inc.'s "Long Beach Sale" October 5-7, 2000,
Lot 5923, plated, sold for $17,825.00
PCGS Proof-65 Red. Ex -
Superior Galleries "The ANA 2001 National Money Show Auction", March 8-9,
2001, Lot 40, sold for $9,487.50
PCGS Proof-65 Red. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 6202, plated, unsold From
the collection of Alex Highland
PCGS Proof-65 Red and
Brown. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1197, sold for $3,910.00
NGC Proof-65 Red and Brown. Ex - Bowers & Merena Galleries' "The Rarities
Sale", January 3, 2001, Lot 58, illustrated, sold for $3,680.00
NGC Proof-65 Red and Brown. Ex - Bowers & Merena Galleries' "The Lake
Geneva Sale", June 28-29, 2001, Lot 155, illustrated, sold for $3,450.00
Proof-64 Red. Ex - Heritage's "Long Beach Signature Sale", May 31-June 2,
2001, Lot 5477, "Questionable Color", plated, unsold
PCGS Proof-64 Red. Ex - Bowers & Merena Galleries' "The Lake Geneva
Sale", June 28-29, 2001, Lot 156, illustrated, sold for $4,830.00
NGC Proof 64, Red and
Brown. Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000,
Lot 4064, illustrated, sold for $2,645.00
Proof-64 Red and Brown. Ex
- Heritage Numismatic Auctions, Inc.'s "Santa Clara Signature Sale",
November 16-17, 2000, Lot 5109, illustrated, sold for $3,105.00
NGC Proof-64 Red and Brown. Ex - Heritage Numismatic Auctions, Inc.'s
"Long Beach Signature Sale", May 31-June 2, 2001, Lot 7624, illustrated,
sold for $2,479.40
PCGS Proof-64 Red and Brown. Ex - Heritage Numismatic Auctions, Inc.'s
"Long Beach Signature Sale", May 31-June 2, 2001, Lot 7625, illustrated,
sold for $3,450.00
PCGS Proof-64 Red and Brown. Ex - Heritage Numismatic Auctions, Inc.'s
"Long Beach Signature Sale", May 31-June 2, 2001, Lot 7626, illustrated,
not sold
Proof-62 Red and Brown. Ex
- Heritage Numismatic Auctions, Inc.'s "Santa Clara Signature Sale",
November 16-17, 2000, Lot 5108, not illustrated, sold for $3,220.00
PCGS MS-66, Red. Ex - Superior Galleries' "Pre-Long Beach Sale", October
1-3, 2000, Lot 4065, illustrated, sold for $60,375.00 Tied for finest
graded
NGC MS-66, Red and Brown.
Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot
4066, illustrated, not sold
NGC MS-65, Red and Brown.
Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot
4067, illustrated, not sold
NGC MS-65 Red and Brown. Ex
- Bowers & Merena Galleries' "The Cabinet of Lucien M. LaRiviere, Part
II", March 15-17, 2001, Lot 1199, unsold
NGC MS-65 Red and Brown. Ex - Bowers & Merena Galleries' "The Cabinet of
Lucien M. LaRiviere, Part III", May 21, 2001, Lot 1355, illustrated, sold
for $6,325.00
PCGS MS-64, Red. Ex - Ira &
Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part I",
February 16, 18-20, 2001, Lot 1265, illustrated, sold for $14,950.00
From the Howard R. Newcomb collection of Indian Cents, purchased June 30,
1944 from J.G. Macallister
PCGS MS-64 Red and Brown.
Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M. LaRiviere, Part
II", March 15-17, 2001, Lot 1198, sold for $2,650.75
"MS-64 Red and Brown". Ex -
Superior Stamp & Coin's "Pre-Long Beach Sale", February 7-8, 2000, Lot 34,
sold for $1,955.00
PCGS MS-64 Red and Brown.
Ex - Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature
Sale", August 6-7, 2000, Lot 6621, illustrated, sold for $4,830.00
PCGS MS-64 Red and Brown.
Ex - Stack's "65th Anniversary Sale", October 17-19, 2000, Lot 138,
plated, sold for $4,887.50
"MS-64 Red and Brown". Ex -
Superior Galleries "The ANA 2001 National Money Show Auction", March 8-9,
2001, Lot 41, unsold
NGC MS-64 Brown. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7566, illustrated, sold for
$3,220.00
Choice Brilliant
Uncirculated. Ex- Stack's "The September Sale", September 12-13, 2000,
Lot 133, sold for $1,840.00
NGC MS-63 Red and Brown. Ex
– American Numismatic Rarities, LLC’s “The Classics Sale,”
July 25, 2003
, Lot
207, "Snow-2", illustrated, sold for $3,450.00
PCGS MS-63, Red and Brown.
Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot
4067A, illustrated, sold for $3,450.00
PCGS MS-63 Red and Brown.
Ex - Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature
Sale", August 6-7, 2000, Lot 6620, illustrated, sold for $2,185.00
MS-63 Red and Brown. Ex -
Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale",
August 6-7, 2000, Lot 5431, plated, unsold
MS-63 Red and Brown,
Questionable coloring. Ex - Heritage Numismatic Auctions, Inc.'s
"Philadelphia 2000 Signature Sale", August 6-7, 2000, Lot 5430, plated,
sold for $2875.00
MS-62 Red and Brown, PVC.
Ex - Heritage Numismatic Auctions, Inc.'s "Santa Clara Signature Sale",
November 16-17, 2000, Lot 5089, illustrated, sold for $1,955.00 From
the Alfred S. Lippman Collection
ANACS MS-61 Red and Brown.
Ex - Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature
Sale", August 6-7, 2000, Lot 6619, not illustrated, sold for $1,667.50
MS-61 Red and Brown. Ex - Heritage's "Long Beach Signature Sale", May
31-June 2, 2001, Lot 5466, plated, sold for $4,830.00
AU-58. Ex - Bowers & Merena
Galleries' "The Cabinet of Lucien M. LaRiviere, Part II", March 15-17,
2001, Lot 1200, sold for $2,070.00
AU-58, Lightly Cleaned. Ex - Heritage Numismatic Auctions, Inc.'s "Long
Beach Signature Sale", May 31-June 2, 2001, Lot 5465, not illustrated,
sold for $1,667.50
PCGS AU-55. Ex - Ira &
Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part I",
February 16, 18-20, 2001, Lot 1266, illustrated, sold for $2,185.00
PCGS AU-55. Ex - Superior
Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot 4068,
illustrated, sold for $1,610.00
NGC AU-55 Brown. Ex -
Bowers & Merena Galleries' "The Cabinet of Lucien M. LaRiviere, Part II",
March 15-17, 2001, Lot 1201, sold for $1,610.00
ANACS AU-55. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7565, not illustrated, sold for
$1,495.00
AU-53. Ex - Bowers & Merena
Galleries' "The Cabinet of Lucien M. LaRiviere, Part II", March 15-17,
2001, Lot 1202, sold for $1,725.00
PCGS EF-40. Ex - Heritage
Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale", August
6-7, 2000, Lot 6618, not illustrated, sold for $977.50
NGC EF-40 Brown. Ex -
Bowers & Merena Galleries' "The Cabinet of Lucien M. LaRiviere, Part II",
March 15-17, 2001, Lot 1203, sold for $920.00
ANACS Cleaned AU Details,
Net EF-40. Ex- Heritage Numismatic Auctions, Inc.'s "Long Beach Sale"
October 5-7, 2000, Lot 5910, not plated, sold for $1,437.50
EF-40, lightly cleaned. Ex
- Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection,
Part I", February 16, 18-20, 2001, Lot 1267, illustrated, sold for
$1,725.00
Extremely Fine. Ex- Stack's
"The September Sale", September 12-13, 2000, Lot 134, unsold
VF-35. Ex - Heritage
Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale", August
6-7, 2000, Lot 5429, not plated, sold for $776.25
VF-30 Porous. Ex - Heritage
Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale", August
6-7, 2000, Lot 5428, not plated, sold for $471.50
VF-30. Ex - Superior
Galleries "The ANA 2001 National Money Show Auction", March 8-9, 2001, Lot
42, "Tiny planchet chip below date", sold for $460.00
VF-20 Obverse pitting. Ex -
Heritage Numismatic Auctions, Inc.'s "Philadelphia 2000 Signature Sale",
August 6-7, 2000, Lot 5427, not plated, sold for $345.00
VF-20. Ex - Superior
Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot 4069, not
illustrated, sold for $718.75
Very Fine. Ex- Stack's "The
September Sale", September 12-13, 2000, Lot 135, sold for $776.25
Net Fine-15, Edge Damage, Scratches. Ex - Ira & Larry Goldberg Coin &
Collectibles' "The Fairchild Family Trust Collection Sale", May 28-30,
2001, Lot 218, illustrated, sold for $747.00
Fine-12. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1204, sold for $552.00
Fine. Ex - Stack's "The
University of Notre Dame Sale", March 20-21, 2001, Lot 179, not plated,
sold for $632.50
Fine. Ex - Stack's "65th
Anniversary Sale", October 17-19, 2000, Lot 139, not plated, sold for
$563.50
PCGS VG-10. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7564, not illustrated, sold for
$529.00
NGC VG-10 Brown. Ex - Bowers & Merena Galleries' "The Lake Geneva Sale",
June 28-29, 2001, Lot 157, not illustrated, sold for $483.00
VG-8. Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000,
Lot 4070, not illustrated, sold for $460.00
NGC VG-8. Ex- Heritage
Numismatic Auctions, Inc.'s "Long Beach Sale" October 5-7, 2000, Lot 5909,
not plated, sold for $448.50
Good-5. Ex - Ira & Larry Goldberg Coin & Collectibles' "The Fairchild
Family Trust Collection Sale", May 28-30, 2001, Lot 219, not illustrated,
sold for $276.00
Good-4. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1206, sold for $402.50
ANACS Good-4. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7563, not illustrated, sold for
$373.75
PCGS AG-3. Ex - Ira & Larry Goldberg Coin & Collectibles' "The Fairchild
Family Trust Collection Sale", May 28-30, 2001, Lot 220, not illustrated,
sold for $322.00
AG-3, PVC. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 5463, not illustrated, sold for
$270.00
Sources and/or recommended
reading:
"The PCGS Population Report, October 2003" by The
Professional Coin Grading Service
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