Lot 1114
1859. NGC graded Proof 65. Only 800 minted. Nicely toned. The Indian Head one-cent coin was produced by the United States Mint from 1859 through 1909. It was designed by James Barton Longacre, the Engraver at the Philadelphia Mint.
The obverse of the coin shows UNITED STATES OF AMERICA, an Indian head facing to the left, wearing a feather bonnet. The word LIBERTY is shown on the band across the bonnet, and shows the production date below.
The coin's reverse side shows ONE CENT within a laurel wreath. In 1860 the reverse design was changed slightly, showing ONE CENT within an oak wreath, with three arrows inserted under the ribbon that binds the two branches of the wreath. Above and between the ends of the branches is the shield of the United States.
The coins that were struck between 1859 and 1864 were composed of 88 percent copper and 12 percent nickel, as required by law. In 1864, the weight of the coins was reduced from 72 grains to the present weight of 48 grains, and the alloy changed to 95 percent copper and 5 percent tin and zinc. Research in 1863 indicated that bronze was an excellent alloy for minor coins, and so the copper-nickel alloy was discontinued. Compare to yearly circulation strike mintage figures with the small number of Proofs each year, which amount to but a tiny fraction of this figure! Pop 35; 22 finer.
Estimated Value $3,000 - 3,300.
|
| |
| Realized $3,163 |
