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1923-S 1C MS65 Red PCGS....

2010 April-May Milwaukee, WI CSNS US Coin Auction #1139

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Auction Ended On: Apr 29, 2010
Item Activity: 9 Internet/mail/phone bidders
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The Midwest Airlines Center
400 West Wisconsin Avenue
Milwaukee, WI 53203


Amazing Full Red 1923-S Cent, MS65
None Certified Finer
1923-S 1C MS65 Red PCGS. After several years of full-bore production brought on by World War I and its aftermath, the recession of the early 1920s influenced mintage figures across most denominations, and the cent was among the most affected. Though mintages for 1923 were substantially higher than for 1922, when Denver and Denver alone produced under 7.2 million pieces, overall mintages were hardly high; San Francisco struck just 8.7 million cents in 1923.
Depressed mintages alone, however, do not account for this issue's condition rarity. In many cases, coinage dies were pushed far beyond their practical life, and as Lange notes in his Complete Guide to Lincoln Cents, "Mushy coins struck from worn dies are the rule for 1923-S. One or both sides will usually exhibit extreme erosion of the dies ..." Coloration can also be a mixed bag, and many examples, even Mint State ones, show unappealing dark brown shadings. Lange further comments that "Finding a problem-free, well-struck and appealing 1923-S cent is all but impossible."
One of the few survivors to defy the odds is offered here. Though it shows slight softness on the portrait, the overall level of detail is undeniably above-average, particularly on the lines of the wheat ears on the reverse. Its immensely lustrous, unturned copper-orange surfaces offer wonderful eye appeal. Carefully preserved and an absolute delight, conditionally rare and unsurpassed; neither NGC nor PCGS has certified a numerically finer Red representative (3/10).
Ex: Jack Lee Estate Lincoln Cent Registry Set (Heritage, 12/2008), lot 180, where it realized $19,550.(Registry values: N2998) (NGC ID# 22CB, PCGS# 2548)

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