LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

803

1877 1C PR65 Red and Brown PCGS. Although the mintage

Currency:USD Category:Coins & Paper Money Start Price:4,750.00 USD Estimated At:1.00 - 2.00 USD
1877 1C PR65 Red and Brown PCGS. Although the mintage
<B>1877 1C PR65 Red and Brown PCGS.</B></I> Although the mintage of 852,500 cents in this year was the lowest since 1823, the reason for this key date's scarcity is more complex. The Mint Act of March 3, 1871, provided for the redemption and recoinage of vast amounts of minor coins, including cents, three cent nickels, and five cent nickels. At some point, rather than melting and recoining pieces, the Mint just began "reissuing" pieces already turned in, resulting in the drastically lower cent mintages of the 1870s, culminating in 1877. Nearly 10 million cents were turned into the Mint in 1877, virtually eliminating the need for a fresh mintage.<BR> This delightful proof, one of only 900 pieces coined, boasts lovely, carbon-free amber, brick-red, and burnt-orange surfaces. The strike is well executed, save for a touch of softness at the extreme tops of the first two feathers. A nice, collectible example of this always popular issue. Population: 56 in 65 Red and Brown, 5 finer (10/06).<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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