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Description

1864 Bronze Cent, PR64 Brown
Very Rare L on Ribbon Variety
Snow-PR2, Breen Plate Coin

1864 1C L On Ribbon PR64 Brown NGC. Snow-PR2. Perhaps the most famous rarity of the Indian cent series, the proof L on Ribbon 1864 cent has a traditional mintage of just 20 pieces. Since about that many examples are known, it seems a somewhat greater quantity were struck. Snow writes, "by 1869 the coin was in demand enough to warrant someone at the Mint to strike additional pieces. This was probably done by Mint Assayer William DuBois, who worked as curator of the Mint Collection. An additional 10 specimens were struck using a refurbished obverse die and the regular proof Shallow N reverse die from the 1868-1871 period." Snow-PR2, identified by a die scratch beneath the Indian's jaw, is that restrike variety.

Snow lists a roster of 10 examples of PR2. The current lot is his #10, the plate coin in Breen's Proof Encyclopedia. For the past 20 years or so, it has been housed in a former generation "fattie" NGC holder. It has beautiful plum-red, orange-gold, and sea-green toning. The strike is full. Imperfections are limited to a tiny obverse strike-through near 12 o'clock and scattered minute carbon.
Ex: Lester Merkin; Auction '90 (Stack's, 8/1990), lot 46.(Registry values: N7079) (NGC ID# 229G, PCGS# 2279)

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Auction Info

Auction Dates
December, 2013
5th-8th
Internet/Mail/Phone Bidders: 12
Members Tracking: N/A
Page Views: 1,459

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