2038

1865 1c PCGS PF64 Red [L#2038

Currency:USD Category:Coins & Paper Money Start Price:975.00 USD Estimated At:1,500.00 - 2,000.00 USD
1865 1c PCGS PF64 Red [L#2038
An outstanding deep mirror specimen with spectacular eye appeal. The surfaces are virtually flawless for a Proof 64 with deep fire red to golden hues.

The 1865 is a very difficult year to find in full red. Like many other dates in this series, the rarity of the coins struck in proof format have no relation to the rarity of the regular issues. Non-proofs are fairly common for this date. Not so for the proofs. The mintage currently given in references is 500, which may be generous.

This issue is notorious for having a low percentage of red examples. Many of the planchets used for the proofs were on streaky planchets. When the alloys of zinc and tin are not mixed well into the copper, occlusions of alloy remain in the bronze ingot. As the ingot is rolled out, these areas get elongated and eventually turn into streaks on the finished planchets. Tin and Zinc are very volatile and will not hold the original color of the coin. The few 1865's that remain in full red are presumably from a higher quality melt, and they are very rare and desirable because of this.