1877 Indian Cent Ngc Vf30 + Cac Solid For Grade Sticker The Key Date No Reserve For Sale
1877 Indian Cent NGC VF30 + CAC Solid For Grade Sticker THE KEY DATE!
This is an 1877 Indian Cent. It is by far the toughest Key date of the series, it was struck at the Philadelphia Mint during the year the Presidency passed from Ulysses S. Grant to Rutherford B. Hayes.
It has been certified genuine and graded Very Fine 30 Brown by the prestigious Numismatic Guaranty Corporation, (NGC). And it has received the coveted Green Sticker, meaning solid for the grade, from the Certified Acceptance Corporation or CAC.
The Mint Act of 1871 authorized the redemption of minor coinage and during the next decade millions of coins were melted and re-issued. The cent coinage redemption program was overwhelmed in 1877 when nearly ten million cents of earlier years were redeemed by the mint. Of these, nearly all were paid out again reducing the need for newly struck coins. The production of new cents this year ended in late January.
The reported mintage of 852,500 pieces for this date is small to begin with, but is likely OVERESTIMATED by a factor of four! ALL GENUINE 1877 Cents known, were struck from two obverse and a SINGLE Reverse die. And that single reverse die shows only moderate die wear in its latest die state. A die normally has a life of around 200,000 coins. This single die COULD NOT POSSIBLY have struck 852,500 pieces without totally deteriorating or bursting. That is why the 1877 Date is so rare and expensive today.
Weight: 3.11 Gram, 19 Millimeter, .950 Copper .050 Tin & Zinc. Reported Mintage: 852,500 (see above).
A Guide Book of Flying Eagle and Indian Head Cents by Richard Snow.
Front of the Holder
Back of the Holder
This coin is from the second obverse die. The telltale die marker of a raised dot by the junction of the hair and neck can be seen here.
Reverse: ONE CENT
The single reverse die used this year was inexplicably of the old “Shallow N” Type. The Shallow N had been replaced in 1870 by a new “Bold N” type and the last Shallow N was used in 1872. They strengthened the ONE CENT, especially the N in ONE. The 1877 is the only instance of the Shallow N Reverse after 1872. See Pictures below.
Shallow N Reverse, Type of 1869 and earlier.
Bold N Reverse, Type of 1870 onward.
The Coin: A tough coin in any condition, this one saw some circulation and has the normal marks consistent with the grade. There is a fairly serious mark on Liberty's nose, but other than that it is a nice original coin in the perfect collector grade. It has a nice full bold Liberty and it is absolutely genuine. All specimens are quite rare and desirable. Possibly an addition to (or completion of) a collection of Indian Cents.
Even though it has been professionally graded, and by the one of the best third party services, AND it has been given the coveted Green CAC Sticker meaning it is solid for the grade, grading is subjective, so please see the pictures and judge for yourself.
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1877 Indian Cent Ngc Vf30 + Cac Solid For Grade Sticker The Key Date No Reserve: $1,601