LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

1565

1872 1C MS66 Red PCGS

Currency:USD Category:Coins & Paper Money Start Price:65,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1872 1C MS66 Red PCGS
<B>1872 1C MS66 Red PCGS.</B></I> Q. David Bowers' <I>Guide Book of Flying Eagle and Indian Cents </B></I>has some cogent observations concerning the 1872 issue: "These cents were struck in quantities similar to the 1871. Aside from the 1877, this is the toughest date to find today. The planchets made from the recoinage melt were not of a consistent quality. Most coins of this date are streaky due to uneven alloy mixes. Many examples were poorly struck or are found with missing detail due to some liquid, such as machine oil, getting on the planchets or dies. ... It is very difficult to find attractive, problem-free examples. Most are poorly struck, or are struck through machine oil. Any attractive problem-free example should be considered for your collection. One Detroit collector, Carl Herkowitz, spent 25 years buying problem-free examples of this date. Even so, he had a difficult time finding more than 200 pieces."<BR> As Bowers alludes to, the cent mintages of the 1870s were influenced by the Mint's decision to recoin older minor coinage that had been turned in, and by the middle of the decade the decision had been made to simply reissue the newer bronze cents without recoining them at all, a situation that would lead to the rarity of the low-mintage 1877 Indian cent with which the 1872 issue is closely identified. Another similarity is the Shallow N reverse, which both the 1877 business-strike cents and some 1872 cents have.<BR> The present business-strike 1872 has the Bold N reverse, as used on the 1877 proof coins. It is simply a phenomenally lovely example of this date, despite Bowers' description of a "typical" coin above. Both sides show coruscating luster radiating from surfaces that are light tan-orange, with glints of greenish-yellow. The strike is full or virtually so, despite a die that shows some hints of fatigue: the upper portion of the Indian's ribbon is missing from die lapping, so that only three and a half diamonds show. On the reverse a couple of die cracks traverse the lower ribbon, and another joins the upper left wreath to the rim.<BR> This piece is one of two 1872s graded MS66 Red at PCGS, with none finer (7/07). By way of comparison, there are six 1877 Indians in MS66 Red, again with none finer. Certified in an older green-label holder.<I><BR>From The Santa Fe Collection.</B></I><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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