1864 Indian Cent. Bronze. L on Ribbon. Snow-5a, FS-2304. Repunched Date. MS-66 RD (PCGS).A conditionally rare and aesthetically pleasing example of this eagerly sought Indian cent hub variety. Intensely lustrous surfaces are satiny in finish, the obverse dressed in pale rose iridescence while the reverse exhibits slightly bolder orange-apricot patina. Both sides are equally well struck with razor sharp, if not full definition in all areas. The L on Ribbon represents a redesign of the basic Indian cent motif by James Barton Longacre, who added his initial L to the lower ribbon between the last feather in the headdress and the adjacent hair curl. Numismatic scholars do not know either when the L on Ribbon type was placed into production or exactly how many pieces were produced. The total circulation strike mintage of 1864 bronze cents is 39,233,714 pieces, with Rick Snow (<em>A Guide Book of Flying Eagle and Indian Head Cents</em>, 2006) providing an estimated mintage of 5 million coins for this variety given the scarcity of examples relative to those of its No L counterpart. With most survivors well worn and the typical Uncirculated example grading no finer than MS-64 RB this wholly lustrous, premium quality Gem represents a fleeting bidding opportunity for the quality conscious Indian cent enthusiast. The Snow-5a, FS-2304 attribution adds further interest, the most significant diagnostic of which is repunching at the top of the digits 18 in the date.From the ESM Collection.
