Type collectors chase 1859 Indian higher | Silver Coins

Type collectors chase 1859 Indian higher

Item0903If you have any doubts that sort collecting tends to make a difference in the cost of some coins, you are going to have a really difficult time trying to explain the cost of the 1859 Indian Head cent in prime grades. Had been it not for type demand, the 1859 would almost undoubtedly be much significantly less costly.

The story of the Indian head cent begins with the 1859, but in terms of design it also ends with the 1859. It is a classic one particular-year sort. These are particular as to complete a collection you need to have that certain date and that puts added pressure on supplies.

The 1859 emerged and we frankly do not know why. The Flying Eagle cent had only just been introduced in 1857. The Indian Head design was introduced just two years later.

There was no law at that point in time requiring a period of use of no fewer than 25 years. So the fast alter was also completely legal. These days a swift modify would demand congressional approval. Back then an official could simply say he liked the Indian style better.

If there was a explanation for alter, the very best guess is that officials did not really like the Flying Eagle cent design and style. They might have been searching for an excuse for a alter and that was handed to them in the kind of complaints from merchants that there have been too several Flying Eagle coins and they had been getting forced to spend brokers simply to get rid of them.

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Of course design and style had completely absolutely nothing to do with a issue of also several cents, but in 1859 any excuse to alter the discussion was a very good excuse. As a outcome, the new Indian Head cent was created with a laurel wreath on the reverse. Mintage was 36.4 million pieces. That was huge. It topped the earlier record cent production by ten million coins. If the nation was not buried in modest cents beforehand, it definitely was soon after this mintage.

Then the design and style changed once again in 1860, even though this time it was just the reverse. The laurel wreath was replaced by an oak wreath and a shield was placed at the best. The Civil War was approaching. That could have been the cause for the shield, but even that is unclear.

So, with its massive mintage, the 1859 cent was not going to be a difficult date, at least in circulated grades. Of course, there are kind collectors who assemble sets in circulated grades, and they can do it cheaply. It is $ 13 in G-4, $ 15 in VG-eight and $ 22 in F-12. by AU-50, the price rises to $ 175.

It is, nonetheless, in Mint State grades that you would anticipate to see larger rates as they are chased by kind collectors. In MS-65, the 1859 lists for $ 3,650. No other typical problem Indian of the copper-nickel composition is higher than $ 1,400 in this grade, in spite of the truth that some, like the 1861, had considerably reduced mintages.

Grading service tallies illustrate the matter. Numismatic Guaranty Corporation has noticed the 1859 in MS-65 111 times compared to 113 for the 1860. Definitely, there must not be thousands of dollars of distinction in their costs. At PCGS, the numbers are comparable.

Is it demand from kind collectors that make the distinction? That seems to be the greatest answer to fit the information.


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