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Lot 0638 1864 Indian Head 1C. Bronze NGC PF66 BR

Currency:USD Category:Coins & Paper Money Start Price:50.00 USD Estimated At:100.00 - 150,000.00 USD
Lot 0638 1864 Indian Head 1C. Bronze NGC PF66 BR
A second delightful Gem brown Proof of this first year of the new bronze, 48-grain Indian cents. This piece, like the other, has simply outstanding color, surfaces, and strike detail on both sides, and fully earns its 66 grade. Oddly enough, Proofs of this type are usually of exquisite sharpness of strike. The new bronze cent was coined under authority of the Act of April 22, 1864, which set the alloy and made the coins legal tender up to a maximum of ten cents. Due to wartime conditions, however, hoarding of cents by the public and speculators continued through the early summer of 1864.