SOLD
38,750.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2007 Aug 09 @ 21:29UTC-6 : CST/MDT
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<B>1871 1C MS66 Red PCGS.</B></I> Ex: Joshua and Ally Walsh Collection. Beginning in 1857, the government started to redeem half cents and large cents and melt them for recoinage into Indian cents. According to Rick Snow (2006):<BR><BR> "The Mint Act of March 3, 1871, provided much-needed authorization for the Mint to redeem the nickel and bronze coinage that was clogging up commercial channels. Because these coins didn't have a bullion value close to their face value, and because their legal-tender status was limited, banks had had nowhere to go to turn in excess coinage. Now the Mint was given the legal authorization to do what it had been doing for the past few years anyway."<BR><BR> By 1871, the supply of such redeemed coins had dwindled so low that the Philadelphia Mint could produce only 3.9 million new cents. Most of these coins were placed directly into circulation, where they remained until well worn or lost. As a result, the 1871 is one of the premier condition rarities in the Indian cent series, with PCGS reporting just two coins at the MS66 Red level of preservation; NGC has not graded one finer than MS65. This attractive and important Gem is alive with red-orange and copper-golden luster that is free from toning. Both sides are also devoid of distracting handling marks, and the razor-sharp strike should not be overlooked. A more attractive example of this conditionally rare issue is difficult to imagine. Population: 2 in 66, 0 finer (7/07).<BR><BR><B>Coin Engraver:</B> James B. Longacre<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>\)
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