1859 Indian Cent. Proof-64+ Cameo (PCGS).This luxurious specimen exhibits bright tan-wheat color on the obverse, warmer, yet equally desirable tan-apricot iridescence on the reverse. The design elements are fully struck with a soft satin texture that contrasts nicely with semi-reflective fields. James Barton Longacres widely collected Indian cent made its debut in 1859 with a mintage of 36,400,000 circulation strikes and approximately 800 Proofs. The obverse portrait, in fact, is not that of a Native American but rather a representation of Liberty wearing a feathered headdress. The artists original concept for this design made its debut in 1849 on the gold dollar, and subsequently went through various refinements (including on the three-dollar gold piece first issued in 1854) before appearing on the Indian cent. The reverse of the 1859 cent exhibits a simple olive wreath without a shield at its top, a design that was abandoned in 1860 in favor of the Oak Wreath with Shield design. (The olive wreath has gone down in numismatic literature as a laurel wreath due to Mint Director James Ross Snowdens designation from 1860.) The 1859 Indian cent, therefore, is a one year design type that is eagerly sought by todays collectors.<p>The debut of the Indian cent in 1859 came at a time when the United States was experiencing its first boom in coin collecting. In 1858, the Mint under Director Colonel James Ross Snowden began to produce Proof coins in greater numbers than in previous years and to advertise such pieces for sale. This practice continued through 1859, in which year the Mint recorded the number of Proof gold and silver struck for the first time in its history. (Proof minor coin mintages, however, were not recorded until 1878.) Despite the increased interest in these coins among contemporary Americans, the Mints production of Proofs in both 1858 and 1859 proved overly optimistic. In fact, Rick Snow (2014) opines that less than half the estimated mintage of 800 Proofs for the 1859 Indian cent was actually distributed to collectors, the remaining pieces probably released into circulation in later years. With an uncommon degree of cameo contrast for the issue, this is a highly significant survivor that is sure to command a strong premium from the winning bidder.PCGS# 82247. NGC ID: 2299.PCGS Population: 1; 18 finer in this category (Proof66+ Cameo finest). There are no DCAM specimens certified.From the Collection of James Allaire Millholland, 1842-1911.
