1871 1C MS66 Red PCGS....

Click the image to load the highest resolution version.

Sold on Jan 9, 2014 for:

$44,062.50 Bid Source: Live: Phone bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

1871 Cent, MS66 Red
The Walsh Specimen

1871 1C MS66 Red PCGS. Ex: Joshua and Ally Walsh. Beginning in 1857, the government started to redeem half cents and large cents and melt them for recoinage into Indian cents. According to Rick Snow (2006):

"The Mint Act of March 3, 1871, provided much-needed authorization for the Mint to redeem the nickel and bronze coinage that was clogging up commercial channels. Because these coins didn't have a bullion value close to their face value, and because their legal-tender status was limited, banks had had nowhere to go to turn in excess coinage. Now the Mint was given the legal authorization to do what it had been doing for the past few years anyway."

By 1871, the supply of such redeemed coins had dwindled so low that the Philadelphia Mint could produce only 3.9 million new cents. Most of these coins were placed directly into circulation, where they remained until well worn or lost. As a result, the 1871 is one of the premier condition rarities in the Indian cent series. It is little wonder that the present coin was a centerpiece of the celebrated Joshua and Ally Walsh Collection.

This attractive and important Premium Gem is alive with vibrant, unturned red-orange and copper-golden luster. Both sides are also devoid of distracting handling marks, and the razor-sharp strike should not be overlooked. A more attractive example of this conditionally rare issue is difficult to imagine. NGC has graded no MS66 Red or better pieces, while PCGS has certified just two examples as MS66 Red and none finer in the color category (11/13).
Ex: The Joseph C. Thomas Collection (Heritage, 4/2009), lot 2073.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 227V, PCGS# 2102, Greysheet# 1322)

Weight: 3.11 grams

Metal: Copper

View Certification Details from PCGS