Lot 3148
1863-L Pattern Cent. Bronze, plain edge. Judd-301. Pollock-363. PCGS graded Proof 63 Red & Brown. PCGS #11689471. A very important coin and desirable as the not-so-famous 1863-L Proof Indian Cent. Much rarer than the famous 1864-L Proof Cent of which 20 were struck. A must for every collector of Indian Cents. The coin's designer (L = Longacre, James B.) was a key player in developing a new reduced-weight standard for the one-cent coin. Beginning as early as 1849-50, the mint experimented with an almost endless variety of sometimes rare, sometimes affordable Pattern cents. The experiments ranged from different metals (mostly base metals pieces like billion, but some containing trace amounts of silver). Also, different weights and sizes were tried. As the 1860s unfolded, the agreed standard was taking form: French bronze, containing 95% copper and 5% tin and zinc. This handsome 1863-L Pattern cent is one of the most elusive known to collectors. Some might consider it the direct precursor to the rare Proof 1864-L regular issue pieces since it is identical except for the date. None graded at NGC Only 3 known. 1 offered in the past 40 years. Pop 1; 1 in 64; 1 in 65. (PCGS # 70456) .
The year 1863 witnessed the beginning of the 6 year long project to construct a transcontinental railroad. The two firms that built the, at first rickety roadbed received government grants of land and money for every mile of roadbed they constructed. Completion took place in 1869 at Promontory Point, Utah with the driving-in of the golden spike (that was quickly removed and replaced with a normal iron spike). The railroad tracks and ties were so slipshod and poorly constructed that immediately upon completion, the entire line had to be relaid over the next several years! (That part is left out of the school text books.).
Estimated Value $40,000 - 50,000.
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