Lot 1064
1873. Closed 3. PCGS graded Proof 65 Red & Brown PQ. Housed in a First Generation Holder. Lovely toning; equally impressive color and surface integrity. Only 600 struck. Pop 84; 19 finer, 1 in 65+RB, 18 in 66RB (PCGS # 3652) .
Last year of issue for the Two-cent denomination and struck in Proof only for inclusion in the sets. Approximately 600 were struck of the Closed 3 variety, with some possibly melted after April 1, 1873, when the new Mint Act went into effect abolishing this denomination. The Two-cent piece had gotten off to a quick start in 1864 with more than nineteen million coined, but mintage trended steadily lower as the coins failed to circulate due to low demand. it has been estimated that fully a third of all Two-cent Pieces ever struck (over fifteen million!) were melted in 1873. Harry X Boosel, well-known 1873 specialist shows (see p.10 of his "1873-1873" book) that 11 dies for the Two-cent Piece (10 reverse dies and a single obverse) were destroyed "by sledge and fire" on January 2, 1874. The single obverse die was presumably the Closed 3 die used to strike the present coin; 10 reverse dies evidently indicate that production had lagged behind expectations in the engraving department for many years and several unused reverses were left over.
Estimated Value $3,500 - 3,700.
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| Realized $3,795 |
