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首席收藏网 > 数据中心 > Stack's Bowers and Ponterio > SBP2018年8月ANA#3-白金之夜

Lot:1083 1877 Indian Cent. Snow-2. MS-65 RD (PCGS). OGH.

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世界钱币

USD 27500

SBP2018年8月ANA#3-白金之夜

2018-08-16 06:00:00

2018-08-16 10:00:00

USD 28800

SBP

成交

1877 Indian Cent. Snow-2. MS-65 RD (PCGS). OGH.A remarkable coin in an 1877 Indian cent, this lovely Gem would serve as a highlight in the finest collection. Sharply struck with a lively satin texture, both sides retain full mint color in a vivid light orange. A few splashes of pale lilac-gray tinting are noted for accuracy, most of which are confined to the right obverse and reverse peripheries. Expertly preserved with a silky smooth texture, this is one of the most impressive examples of this key date issue that we have handled in recent years. Sure to see spirited bidding at auction.<p>With just 852,500 pieces produced, the 1877 has the lowest mintage among circulation strike Indian cents after only the final year 1909-S (309,000 struck). The 1877 is rarer than the 1909-S in all grades, however, because it was made during an era in which most collectors were content to obtain a Proof example. As a result, circulation strike 1877 cents were generally overlooked in their day, most finding their way into commercial channels, which generally meant several years of recycling between the Mint and banks. This recycling actually explains the low mintage for the circulation strike 1877.<p>Although popular during the Civil War and early Reconstruction eras when silver and gold coins had disappeared from circulation in the East and Midwest, by the 1870s large quantities of bronze cents had begun to accumulate in banks as public demand for them waned. Through the Act of March 3, 1871 Congress authorized the Mint to redeem these bronze cents (along with copper and nickel coins), melt them, and use the metal retrieved to strike new coins. In 1874 the Mint modified this practice by simply reissuing the redeemed coins alongside whatever newly struck examples were required to meet demand. In 1877, a depression year, the Philadelphia Mint redeemed an unusually large number of bronze cents -- 9,908,148 coins (per Rick Snow, 2014) -- and reissued 9,821,500 coins, largely meeting demand. Relatively few new coins were required, explaining the limited mintage for the circulation strike 1877 Indian cent.<p>This issue is eagerly sought in all grades, both circulated and Mint State, the present Gem a significant condition rarity that is sure to please even the most discerning numismatist.From the ESM Collection.

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