1877 Indian Cent. Proof-66 RD (PCGS).This Gem Red 1877 Proof cent is an outstanding example of this eagerly sought date in the Indian cent series. Vivid light orange surfaces retain full mint color, with tinges of pale rose evident under a light. The strike is sharp with full definition from the rims to the centers. Expertly preserved and a delight to behold, this beautiful Gem will be a highlight in the finest collection.<p>With a mintage of 852,500 pieces and a low rate of survival in high grades, the circulation strike 1877 is the key date issue in the Indian cent series. Consequently, survivors of the years Proof mintage enjoy heightened demand among quality conscious collectors. The United Sates Mint did not begin recording the number of Proof minor coins struck each year until 1878, so there is no way of knowing exactly how many Proof cents were produced in 1877. In his 1977 <em>Encyclopedia of U.S. and Colonial Proof Coins</em>, Walter Breen estimated the mintage of the 1877 at 510+ pieces, but more recent research by R.W. Julian confirmed that that figure represented only the total number of silver and minor coin Proof sets sold. According to Julian (as referenced by Q. David Bowers, <em>A Guide Book of Flying Eagle and Indian Head Cents</em>, 2006), the Mint also sold at least 400 minor coin Proof sets that year, indicating that at least 900 Proof 1877 cents were actually distributed to contemporary collectors. Bowers opines that at least 1,500 Proof 1877 cents were struck, the unsold pieces either destroyed in the Mint or released into circulation. The 1877 Proof cent commands a significant premium in all grades due to the rarity of the circulation strike 1877 in Mint State. On the other hand, most Proofs are in lower grades through Proof-64 RB. The present Gem full Red example is a significant condition rarity in its own right and numbers among the finest examples of the date available.PCGS Population: 11; 2 finer in this category (both Proof-67 RD).
