1868 1C MS66 Red PCGS....

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Incredible MS66 Red 1868 Cent

1868 1C MS66 Red PCGS. The 1868 Indian cent is yet another reminder that sometimes mintage figures do not tell the whole story--and that, in fact, sometimes mintage figures can completely obfuscate the truth. The Mint Act of March 3, 1871, required the Mint to redeem the older minor coins in any quantity. At first the coins redeemed--older large cents and half cents, copper-nickel cents, bronze two cents, and nickel three and five cents--were melted and recoined into new three and five cent nickels and bronze cents. But by 1874, as less of the pre-1864 coinage was turned in, the Mint realized it could just reissue the turned-in coins without resorting to recoining.
As it applies to the Indian cents of the 1860s and 1870s, therefore, we see two kinds of rarities--those created by wholesale meltings, and those created by smaller mintages that resulted from the reissuance of older cents--with some overlap between the two kinds.
All of the foregoing serves to help understand today why an 1868 Indian cent, with a mintage of more than 10 million examples, is today generally found in grades lower than Fine. The present piece, certified MS66 Red in an old green-label holder, is one of three coins so graded at PCGS, and there are none finer. The fine-grained surfaces are a wonderful burnt-orange color, with radiant luster and no visible distractions. A boldly struck and entirely pleasing piece. Population: 3 in 66 Red, 0 finer (3/09).(Registry values: N4719)

Coin Index Numbers: (NGC ID# 227S, PCGS# 2093, GSID# 1313)

Metal: 95% Copper, 5% Tin & Zinc
Weight: 3.11 grams
Weight: 0.10422oz
Mintage: 10,266,500

View Certification Details from PCGS