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Images courtesy of Superior
Galleries
Recent appearances:
PCGS Proof-66 Red. Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s
"The California Sale", October 2-3, 2000, Lot 1409, "No L"
PCGS graded Proof 66. Ex -
Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part
I", February 16, 18-20, 2001, lot 1090, illustrated, where it was
described as follows: "Copper-nickel… A beautiful ultra-deep mirror
example with fully frosted devices. Nearly perfect, the sole exception
being a few light flyspecks, which are visible with high magnification.
The reported mintage of 370 pieces is the lowest of all the copper-nickel
Indian Cents. Survivors are typically below average compared to the
quality of the 1862 issue. This example is one of the notable exceptions.
Except spirited bidding on this gem. The reverse is slightly rotated to
the left.", sold for $4,830.00
NGC Proof-66 Red and Brown.
Ex- Heritage Numismatic Auctions, Inc.'s "Long Beach Sale" October 5-7,
2000, Lot 5920, plated, sold for $3,335.00
NGC Proof-65 Cameo. Ex - Bowers & Merena Galleries' "The Lake Geneva
Sale", June 28-29, 2001, Lot 139, illustrated, sold for $3,680.00
NGC Proof-65 Red and Brown. Ex- Heritage Numismatic Auctions, Inc.'s
"Long Beach Sale" October 5-7, 2000, Lot 5919, plated, sold for $2,127.50
NGC Proof-65. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1138, sold for $1,380.00
Proof-65. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1139, sold for $977.50
Proof-65. Ex - Bowers & Merena Galleries' "The Rarities Sale", January 3,
2001, Lot 53, illustrated, not sold
PCGS graded Proof 64. Ex -
Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part
I", February 16, 18-20, 2001, lot 1091, illustrated, where it was
described as follows: "Pattern Cent. Judd-358, Pollock-429, Rarity-7,
Copper-nickel with "L"…The rare 1864 with L proof, struck in copper
nickel. Only 3 examples are known to exist. This coin, another PR-64 PCGS
example which is in an upstate New York collection, and an XF example
rumored to exist. This example exhibits moderately deep mirrors, frosty
devices and nearly flawless surfaces. Only a few insignificant contact
marks limit the grade.
This is actually a transitional issue, which could easily be argued to be
an essential part of a complete collection of Indian Cents -- an extension
of the copper-nickel series into the design change to the "With L"
redesign by James Longacre. Although the addition of the designers initial
to the lower ribbon is part of the design change, the whole portrait was
given a much needed redesign. The feather headdress is now much sharper,
as is the hair detail. The bust truncation is now very narrow, very
similar to the 1859 and 1860 pointed bust issues.
The dies used to strike this issue are the same dies that struck the 10
known original 1864 with L proofs in bronze (PR-1). The reverse die was
also used on the 1864 No L proofs, confirming that this coin was indeed
struck in 1864. It now is widely known that the other half of the 20 known
1864-L bronze proofs (PR-2) were struck during the "Linderman" restriking
period of 1868-71. Proof of this came when this author compared an 1864-L
with later proofs from 1870 and 1871 and found the reverses to be
identical. Who said reverse dies are boring!
We can only speculate about the reason this coin exists. Perhaps Longacre
planned a redesign of the Indian Cent in 1864 independent of the decision
to change the composition to bronze following the passage of the Mint Act
of April 22, 1864. If so, then the 1st issue of bronze 1864 With L's would
also have been struck before that date, making them patterns as well. By
comparing the die polishing marks on the reverse of this coin with the
next lot, the 1864 No L proof issue was struck first. This shows that in
all likelihood the proof 1864 With L's in both copper-nickel and bronze
were indeed struck late in the year after the changeover to bronze was
official, which is why this coin gets the pattern number and the bronze
1864 with L's do not.
The rarity and importance of this coin is tremendous. This coin has not
been available in a public auction for many, many years, if at all. In
fact, when this coin surfaced in the 1990's, it resided in a major third
party encapsulation without any indication as to its importance. The coin
had labeled as a regular 1864 CN proof! Of course, it is the coin that is
important, not the label, and this coin was never in doubt as to its real
status as the nearly unique 1864 With L Proof in copper nickel.", sold for
$17,250.00
Choice Brilliant Proof. Ex- Stack's "The September Sale", September 12-13,
2000, Lot 112, sold for $1,207.50
NGC MS-66 Red and Brown. Ex - Bowers and Merena Galleries' Robert W.
Schwan Collection Sale, October 26-27, 2000, Lot 318, sold for $299.00
NGC MS-66 Red and Brown. Ex - Heritage Numismatic Auctions, Inc.'s "Long
Beach Signature Sale", May 31-June 2, 2001, Lot 7531, not illustrated,
sold for $333.50
NGC MS-65 Red. Ex - Heritage Numismatic Auctions, Inc.'s "Long Beach
Signature Sale", May 31-June 2, 2001, Lot 7532, not illustrated, sold for
$431.25
PCGS MS-65 Red. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part III", May 21, 2001, Lot 1351, not illustrated, not sold
NGC MS-65 (illustrated above). Ex - Superior Galleries "The ANA 2001
National Money Show Auction", March 8-9, 2001, Lot 28, sold for $862.50
NGC MS-65. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1140, sold for $575.00
NGC MS-64 Red. Ex - Bowers & Merena Galleries' "The Cabinet of Lucien M.
LaRiviere, Part II", March 15-17, 2001, Lot 1144, sold for $529.00
Sources and/or recommended
reading:
"The PCGS Population Report, October 2003" by The
Professional Coin Grading Service
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