1869 1C MS66+ Red PCGS. CAC....

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1869 Indian Cent, MS66+ Red
None Finer at Either Service

1869 1C MS66+ Red PCGS. CAC. Ex: Joshua and Ally Walsh. Richard Snow observes the 1869 Indian Head cent is "a very tough date to find in all grades." An oversight in the Mint Act of April 22, 1864 led to the large-scale melting of small cents and two cent pieces in the late 1860s. Because the act provided no redemption clause for those denominations and the legal tender limit for the cent was only 10 cents, banks could refuse to accept large deposits of cents and two cent pieces from merchants. The merchants only recourse was to turn the coins in at the Mint to be melted and recoined. Snow reports more than 55 million bronze cents were melted during the next 10 years. The availability of the 1869 cent, with a relatively small mintage of 6.4 million pieces, was drastically reduced by this activity.

The present coin is a spectacular specimen, fully struck, with bright, even orange-red color. Close examination with a loupe reveals a couple of tiny specks, the only notable one on the lower part of E in ONE. Overall eye appeal is excellent. Population: 7 in 66 (2 in 66+) Red, 0 finer. CAC: 4 in 66, 0 finer (5/19).
Ex: Joseph C. Thomas Collection, Part Two / Long Beach Signature (Heritage, 5/2009), lot 112.
From The Castle Collection. (Registry values: N4719)

Coin Index Numbers: (NGC ID# 227T, PCGS# 2096, Greysheet# 1316)

Weight: 3.11 grams

Metal: 95% Copper, 5% Tin & Zinc

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