1877 Indian Cent. Snow-PR1. Proof-66 RB (PCGS).Fully struck with a modest satin finish, the devices are set against reflective fields. Both sides are predominantly bright orange with only minimal toning in iridescent olive-brown. Nearly in the full Red category, this expertly preserved specimen is sure to see spirited bidding among astute numismatists.With a mintage of 852,500 pieces and a low rate of survival in high grades, the circulation strike 1877 is the key date in the Indian cent series. Consequently, survivors of the years Proof mintage enjoy heightened demand. 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 Encyclopedia of U.S. and Colonial Proof Coins, Walter Breen estimated the mintage of the 1877 at 510+ pieces, but more recent research by R.W. Julian confirmed that Breens figure represented only the total number of silver and minor coin Proof sets sold. According to Rick Snow (2014), a more accurate estimate for the distribution of this issue is 910 coins, which takes into account the fact that the Mint also sold at least 400 minor coin Proof sets that year. It is thought that upward of 1,500 Proof 1877 cents were actually 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 is a significant condition rarity in its own right and numbers among the finest examples of the date available.PCGS Population: 12; 0 finer in this category.
