***Auction Highlight*** PCGS 1877 Indian Cent 1c Graded ms64 rb CAC BY PCGS (fc)

***Auction Highlight*** PCGS 1877 Indian Cent 1c Graded ms64 rb CAC BY PCGS (fc)
***Auction Highlight*** PCGS 1877 Indian Cent 1c Graded ms64 rb CAC BY PCGS. The Key Date to the whole Indian Cent Series. According to Jaime Hernandez from PCGS, ‘The 1877 Indian Cent is unquestionably the most desirable coin in the entire circulation strike Indian Cent series. It is the second lowest mintage coin in the series, and only the 1909-S Indian cent has a lower mintage. Despite the 1877 Indian cent having the second lowest mintage in the series, it also survives in much smaller numbers than the 1909-S Indian cent. This is mainly due to the lack of coins being collected in 1877 compared to 1909. There is only one reverse die confirmed as striking all existing 1877 Indian cents. However, if there was only one reverse die employed to strike all (877,000)1877 Indian cents, then this lone die should have sustained major planchet flaws when striking such a large mintage. Surprisingly, this is not the case since 1877 cents show no traces of a damaged die. Therefore, it is strongly believed that the mintage of 877,000 coins struck, is actually a highly inflated figure. Offered is a rare and highly desirable Choice Red and Brown example of the famous key date 1877 Indian cent. Highly lustrous with a satiny texture, both sides retain plenty of original mint color in soft golden-orange. Blushes of light olive-brown patina are also noted, in keeping with the color designation assigned by PCGS. Striking detail is universally sharp throughout, a rare attribute for an issue that is often seen with softness in one or more peripheral areas. Surface preservation is just as superior as striking quality for the issue, and fully deserving of the Choice grade from PCGS.With just 852,500 pieces produced, the 1877 has the lowest mintage among circulation strike Indian cents after only the final year 1909-S (309,000). The 1877 is rarer than the 1909-S in all grades, however, because it was made during an era in which most collectors were content to obtain a Proof. As a result, circulation strike 1877 cents were generally overlooked in their day, and most found their way into commerce, which generally meant several years of recycling between the Mint and banks.Although popular during the Civil War and early Reconstruction eras when silver and gold coins had disappeared from circulation in the East and Midwest, by the 1870s large quantities of bronze cents had begun to accumulate in banks as public demand for them waned. Through the Act of March 3, 1871, Congress authorized the Mint to redeem these bronze cents (along with copper and nickel coins), melt them, and use the metal retrieved to strike new coins. In 1874 the Mint modified this practice by simply reissuing the redeemed coins alongside whatever newly struck examples were required to meet demand. In 1877, a depression year, the Philadelphia Mint redeemed an unusually large number of bronze cents - 9,908,148 coins (per Rick Snow, 2014) - and reissued 9,821,500 coins, largely meeting demand. Relatively few new coins were required, explaining the small mintage for the circulation strike 1877 Indian cent.This issue is eagerly sought in all grades, both circulated and Mint State. The present example with CAC approval is a notable condition rarity that numbers among the leading Indian cent highlights offered in our recent sales. A Key Date's Pick, Bid to Win, Don't let it get Away, you might not find its equal Coin. I give this coin my highest recommendation