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Sale 39
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Lot 938
1864 Indian Head Cent. Bronze, with "L". . Snow-10. PCGS graded MS-65 Red. Although a new design was not requested with the changeover to the bronze planchet, Longacre took it upon himself to sharpen the dies anyway. Along with the sharper feather detail and a narrower bust point, Longacre added a tiny initial "L" positioned sideways on the ribbon behind Liberty's neck. These dies were made to augment the leftover dies from the copper-nickel production and were used side by side with them during the striking of the bronze cents. Only about 40 obverse dies were needed, and this is a very small number when you compare it to the estimated 300 dies used to strike the copper-nickel and bronze No L coins. The reverse dies were not modified.
Collectors of the day were not so interested in cents from circulation. They were also not so finely attuned to the difference in the design until much later. It is unknown when the collecting community first made note of the difference in the design. By 1870 it was described as the "thin die" in auction catalogs (Longacre's estate sale that year contained two Proof issues described that way.) As collectors of the time were mostly interested in the Proof issues, the low mintage 1864 With L mostly survived in high grade by chance.
The Chiro coin is a wonderful survivor from those times. This piece is fully struck and exhibits chisel sharp details. Minor clashing is seen on the top of the obverse. It is also a bold repunched date, with the 86 showing repunching to the southwest. It is moderately scarce and probably the finest example of this variety extant.
The color is a bright gold with no specs of any significance. A small contact mark on the reverse to the left of the O in ONE is all that keeps this beautiful piece from a higher grade. Pop 35; 3 finer in 66. (PCGS # 2081) .
Estimated Value $4,500 - 5,000.
Ex:The "Chiro" Collection. Eagle Eye Photo Seal accompanies this lot.
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| Realized $6,038 |
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