Lot 2478
1871 Indian Head Cent. PCGS graded MS-65 Red CAC Approved. A Premium Quality coin for the given grade with lovely Mint Red colors. Since 1857, the mint had been redeeming Half Cents and Large Cents and melting them for recoinage into Indian Cents. By 1871, the supply of redeemed coins dwindled so low that the Philadelphia mint could produced only 3.9 million new Cents. Most of these coins were placed into circulation, where they remained until well worn or lost. As a consequence, the 1871 is one of the premier condition rarities in the Indian Cent series. Pop 16; 2 in 66. Very rare date in this grade (PCGS # 2102) .
The tragedy began in 1871: A Vermont tanner invented a process of tanning buffalo hide in 1871, which made it commercially usable. In 1872, the slaughter commenced. With government approval, marksmen and skinners moved in, and by 1878 the great southern buffalo herd, estimated at 10 million head, had been wiped out. Then the hunters moved north and slaughtered another 5 million. This next part of the Wild West is best left forgotten. The hunters often moved onto Indian land. If the Indians objected and drove the hunters out, the Army would come in and destroy all of the Indians' possessions, forcing them to surrender or face the elements, without homes, horses, food, or tools. Between 1860 and 1889, the number of Great Plains buffalo was reduced from 50 million to 551.
Estimated Value $7,000 - 8,000.
The Coltrin Family Collection.
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| Realized $10,063 |
