Lot 704
1877. PCGS graded Proof 65 Red. A fabulous gem proof specimen featuring a hue of pinkish-red with hints of lighter gold. A truly magnificent example of this Key Date issue. An outstanding example of this key date. As one should expect for a coin in this grade, the surfaces are exceptional. No Mint caused defects occur on the planchet nor do spots occur, thus everything is there to express the Proof 65 grade free from limitation. This example is virtually unimprovable in its Proof 65 category.
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. Pop 19; 11 in 66 RD, 2 in 67 RD (PCGS # 2320) .
Estimated Value $9,000 - 10,000.
The Richard Weiss Complete Collection of Proof Red Indian Cents PR65 or Better with Some Cameos.
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| Realized $12,075 |
