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1864 1C L On Ribbon PR64 Brown NGC. Snow-PR2....
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$52,875 or more
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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)
Coin Index Numbers: (NGC ID# 229G, PCGS# 2279)
Weight: 3.11 grams
Metal: 95% Copper, 5% Tin and Zinc
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
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