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Auction 1124 | Lot 2078 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. (PCGS# 2129)

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May 3, 2009

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Sold For: $149,500.00

Auction 444 | Lot 1569 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. (PCGS# 2129)

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Grade MS66

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Aug 12, 2007

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Sold For: $149,500.00

Auction 414 | Lot 5064 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. The 1877 cent is easily the most elusive and in-demand issue in the Indian cent series. The average coin show will perhaps have a few examples available, mostly in the lower circulated grades, but occasionally even a nice XF or AU example can be found. But this example is a coin for the ages, the ultimate, show-stopping, heart-pounding fully Red-designated (and correctly so) Premium Gem key-date 1877 from PCGS. The luscious surfaces are light tan-gold, with faint hints of mellowing to a slightly deeper red on the portrait and the reverse rim.

It is truly amazing that a coin this exemplary exists. In 1877 there were few coin collectors, but someone--perhaps a collector, or perhaps someone who had a child that year--put aside this coin, maybe along with some others, for some forgotten reason. It is even more astounding that it has survived in such pristine condition for so long a time--129 years!--with barely a trace of "turning." The strike is well executed, with the L and four diamonds on the ribbon bold. The feather tips lack absolute detail, and OF AME is soft. There are some faint clash marks on the reverse: between the left bottom shield point and the O of ONE, from the crook of the Indian's neck on the obverse; and on the inside right (facing) wreath near its top, from the oval gap between the lowest feather and the lowest curls. This piece, like most (not all) known business strikes, has the "weak N" in ONE. But the stupendous eye appeal simply cannot be overstated.
Collectors normally buy their key dates last, rather than first, putting off that "big buy" until the end. But that often means that the price is higher than it would have been otherwise. While legions of Indian cent collectors would want to own this coin, only the boldest, most daring bidder will ultimately possess it. There are none graded finer at eitherNGC or PCGS. (PCGS# 2129)

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Grade MS66

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Aug 14, 2006

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Sold For: $115,000.00

Auction 1298 | Lot 3681 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. CAC. (PCGS# 2129)

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Grade MS66

Auction Ended

Aug 18, 2019

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Sold For: $114,000.00

Auction 1381 | Lot 3050 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. (PCGS# 2129)

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Grade MS66

Auction Ended

Mar 2, 2025

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Sold For: $90,000.00

Auction 308 | Lot 4436 » Small Cents » Indian Cents

1877 1C MS66 Red PCGS. This is the lowest mintage date of the series with only 852,500 pieces reportedly produced. All non-proof 1877 Indian Cents were struck from a single reverse die with a shallow N in ONE. This hub variety was retired in 1870 and not used since 1872. Most of the coins from this die, the present example included, display light clashmarks (as struck) above and to the left of the O in ONE. This reverse die is unknown with any die cracks, a curious feature for an era when the average working die life was usually no more than 200,000 pieces. Richard Snow poses an interesting question: How could nearly a million Cents be struck from the same die without the development of any significant die wear or cracks? As a possible answer he postulates that the real mintage of the 1877 Indian Cent may be even less than what has been traditionally reported.

This is an absolutely outstanding Gem quality example with full, vibrant luster in cherry-red shades. Only the slightest weakness on the second and third feathers in Liberty's headdress seem to hold it back from perfection. Presently, there are only six 1877 Cents graded Mint State 66 Red by PCGS with none finer (10/02). In Snow's opinion, the Gorrell specimen probably ranks as the finest known after the example in the Stewart Blay Collection. The latter coin was recently exhibited as part of the PCGS "Showdown" of the top three Registry Sets.

The low mintage for the Cent (as well as the complete stoppage of production for the Three Cent and Five Cent Nickels) in 1877 is due, at least in part, to a slowdown in the nation's economy. By forcing large quantities of older coins back into circulation, this slowdown eased demand for new coins. However, this explanation oversimplifies the cause and effect. To get to the real reason for the rarity of the 1877 Indian Cent, we must go back to the Mint Act of 1864. That act limited the legal tender status of the new bronze Cent to ten cents. Since banks had no way to move lar (PCGS# 2129)

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Grade MS66

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Jan 11, 2003

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Sold For: $77,625.00

Auction 208 | Lot 6562 » Small Cents » Indian Cents

1877 1C MS 66 Red PCGS. Few coinage series of the United States share the popularity of the Indian Head cent. Minted without interruption from 1859 through 1909, this hardy coin weathered the Civil War, endured the hardships of Reconstruction, tamed the Wild West, and witnessed America's coming of age as a world power. Although originally issued in copper-nickel, Longacre's Indian Head would see its widest circulation in a bronze alloy of 95% copper and 5% tin and zinc. Like many other pivotal changes, the introduction of bronze to our family of coinage metals dates to the Civil War. On December 28, 1861, New York banks suspended specie payments and created an economic rout. Gold and silver coins rapidly disappeared from circulation and, by late 1862, the copper-nickel cents had followed. By the middle of the war, the average American's pocket had little to show for itself beyond a conglomeration of shinplasters, fractional currency, and private copper tokens. To make matters worse, the federal government's plan to open new nickel mines in Canada foundered when our northern neighbor demanded payment for the ore in gold. As the Treasury Department was totally committed to the war effort, nickel ore was forced to run a very distant second to the munitions factories that supplied the Union Army. Mint Director James Pollock, already disillusioned by the difficulty that his staff encountered with melting and refining nickel, realized that the time had come to move against the hard metal. In conjunction with accomplices in the House and Senate, Pollock introduced a plan to alter the composition of the cent. The Mint Act of April 22, 1864 fulfilled Pollock's wishes and, from that date forward, the Mint would produce the Indian Head cent in bronze.

By the late 1870s, the Unites States had moved on to bigger and better things. The Civil War was a fading memory and Reconstruction would breath its last gasp with the inauguration of Rutherford B. Hayes as president in 1877. Numerous citize (PCGS# 2129)

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Grade MS66

Auction Ended

Aug 16, 1999

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Sold For: $54,999.90

Auction 1326 | Lot 3990 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Snow-1. (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 24, 2021

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Sold For: $54,000.00

Auction 1258 | Lot 3894 » Small Cents » Indian Cents

1877 1C MS65+ Red PCGS. CAC. (PCGS# 2129)

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Grade MS65+

Auction Ended

Aug 6, 2017

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Sold For: $42,300.00

Auction 1271 | Lot 4759 » Small Cents » Indian Cents

1877 1C MS65+ Red PCGS. CAC. (PCGS# 2129)

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Grade MS65+

Auction Ended

Jan 8, 2018

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Sold For: $40,800.00

Auction 1208 | Lot 5529 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. (PCGS# 2129)

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Grade MS65

Auction Ended

Aug 9, 2014

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Sold For: $32,900.00

Auction 1356 | Lot 3313 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. CAC. (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 11, 2023

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Sold For: $31,200.00

Auction 394 | Lot 3060 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Although the 1909-S Indian Cent has a lower mintage than the 1877, the latter is regarded as the key to the series, since few pieces were set aside, while the 1909-S was hoarded to some degree due to the change in designs that year. When encountered, 1877 Cents are usually in well worn grades, and often corroded. High grade, full Red examples are under great demand from collectors of this popular series. This highly lustrous Gem features gold centers, bordered by orange color near the rims. The strike is decidedly above average, and surface imperfections, such as a tiny mint-made planchet flaw in the field near the chin, are unimportant. As usual for business strikes for this important issue, the N in ONE is shallow, unlike proof 1877 Cents, which feature a bold N in ONE. In fact, the business strike 1877 marks the final appearance of the shallow N reverse subtype, which had begun to be phased out in 1870.
From The Joshua and Ally Walsh Collection of United States Cents. (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 7, 2006

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Sold For: $29,900.00

Auction 1222 | Lot 3010 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. (PCGS# 2129)

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Grade MS65

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Jul 12, 2015

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Sold For: $28,200.00

Auction 454 | Lot 2691 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 12, 2008

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Sold For: $21,850.00

Auction 422 | Lot 795 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Few key dates are as well known, both inside and outside of the numismatic community, as the 1877 Indian cent. This date has long claimed an original business strike mintage of 852,500 pieces, per Mint records, but the issue is much scarcer than this purported mintage would imply. Richard Snow (2006) suggests that this figure may include some coins dated 1876. Snow also notes that only a single reverse die is known to have been used on business strikes; a virtual impossibility according to him if the official mintage figure is correct, unless some cents produced using a different reverse die were destroyed.

This example is well struck, lustrous, and beautifully toned in a mixture of tan-gold, peach, purple, and mint-green coloration. The essentially pristine surfaces are evidence of remarkable preservation. A moderate die clash mark is noted above and just to the left of the O in ONE. All in all, this is an exceptional Gem representative of the premier Indian cent issue that would do justice to any advanced collection. Population: 21 in 65, 6 finer (11/06). (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 6, 2007

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Sold For: $20,700.00

Auction 320 | Lot 5156 » Small Cents » Indian Cents

1877 1C MS65 Red NGC. A shortage of copper resulted in the mint's limited production of Indian Cents in 1877. A paltry total of 852,500 pieces were struck, and, while the final-year 1909-S has a lower mintage (309,000 pieces), the '77 is the undisputed key to this widely collected series. It seems likely that while the 1909-S survived in sufficient numbers (thanks to heightened public awareness of numismatics in the early 20th century), most examples of the 1877 production entered economic channels. Not so with the present Gem, whose surfaces are smooth with virtually no blemishes to report. Both sides are aglow with rich orange-red luster, and the strike is bold in most areas. A little softness of detail is noted on the obverse at the tips of the feathers in Liberty's headdress. For future identification, a small mark resembling a lintmark is visible in the left obverse field under the A of STATES.
From The Sarasota Collection. (PCGS# 2129)

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Grade MS65

Auction Ended

Jul 21, 2004

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Sold For: $20,125.00

Auction 222 | Lot 5312 » Small Cents » Indian Cents

1877 1C MS 65 Red PCGS. In the aftermath of the Mint Act of February 21, 1857, untold thousands of large cents were melted to provide planchets for small cent production. The abolition of the two cent piece in 1873 provided a further source of copper that helped keep Indian Head cent mintage figures strong through 1876. In 1877, however, the federal government's supply of recycled copper was exhausted and, while government agents hunted for outside sources of coinage metal, small cent production bottomed out at a paltry 852,500 pieces.

The undisputed key to the series, the 1877 Indian Head cent has a special niche in the pantheon of numismatic treasures. With vibrant, orange-red luster and delicate crimson and olive accents, this is simply a beautiful coin. Both sides are pristine and do full justice to the MS 65 grade. Powerfully struck for the issue, the bold definition rounds out this coin's list of positive attributes. Population: 16 in 65, only 5 finer (12/99). (PCGS# 2129)

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Grade MS65

Auction Ended

Feb 14, 2000

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Sold For: $19,550.00

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Auction 1381 | Lot 3119 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Snow-2. (PCGS# 2129)

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Grade MS65

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Mar 2, 2025

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Sold For: $19,200.00

Auction 1166 | Lot 3053 » Small Cents » Indian Cents

1877 1C MS64+ Red PCGS Secure. (PCGS# 2129)

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Grade MS64+

Auction Ended

Jan 8, 2012

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Sold For: $18,975.00

Auction 1136 | Lot 2430 » Small Cents » Indian Cents

1877 1C MS65 Red NGC. (PCGS# 2129)

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Grade MS65

Auction Ended

Jan 10, 2010

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Sold For: $18,400.00

Auction 358 | Lot 5227 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Ex: Richard Collection. Struck from the Type One reverse with the N in ONE shallowly impressed. The Mint experienced a shortage of copper in 1877, which resulted in a very limited mintage of only 852,500 pieces being struck in this year. While the 1909-S has an even lower mintage, the 1877 is universally regarded as the undisputed key to this widely collected series. Well, but not fully struck in all areas, the surfaces display rich red luster over each side with a light speckling of brown in the left obverse field. An outstanding Red Gem. Population: 21 in 65, 5 finer (9/04). (PCGS# 2129)

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Grade MS65

Auction Ended

Nov 6, 2004

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Sold For: $18,400.00

Auction 292 | Lot 5083 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. Eagle Eye Photo Seal. As a result of having two major collections of Indian Cents in this auction we have two Gem Full Red 1877 Cents to offer advanced collectors of this fascinating series. Almost all of the Indian Cent mintage for 1877 entered circulation with very few pieces set aside at the time of issue. This piece has bright orange-red mint luster and is sharply struck. Struck from the Type One reverse with the N in ONE shallowly impressed. Population: 19 in 65, 6 finer (3/02).
From the Marvin Elkin Collection (the Jon/Lor PCGS Registry Set). (PCGS# 2129)

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Grade MS65

Auction Ended

Jun 8, 2002

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Sold For: $18,400.00

Auction 1279 | Lot 3015 » Small Cents » Indian Cents

1877 1C MS65 Red PCGS. (PCGS# 2129)

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Grade MS65

Auction Ended

Sep 6, 2018

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Sold For: $18,000.00

Auction 1278 | Lot 3103 » Small Cents » Indian Cents

1877 1C MS64 Red PCGS. (PCGS# 2129)

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Grade MS64

Auction Ended

Aug 14, 2018

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Sold For: $18,000.00