1859 1c PR

1859 Cent Production: Production of the copper-nickel cent had always been a problem for the Mint. In attempting to extend the life of the dies, various design changes were tested in 1858. Both the obverse and reverse were altered to a lower relief, but this was still not satisfactory. The problem was that the head and tail of the eagle were directly opposite the wreath details on the reverse. In an effort to fix this problem, the Mint tried a smaller eagle on patterns, but this was also deemed unsatisfactory. The Indian Head design was also tested in 1858 and was found to be superior to the Flying Eagle. The head was centrally located on the coin and did not interfere with metal flow into the reverse die.

The design is not an American Indian, but “Liberty” in an Indian headdress. The reverse design selected is a plain olive wreath circling the denomination. However, the wreath has long been called laurel in the literature, following a tradition started by Mint Director J.R. Snowden in 1860.

The production of cents this year set a record for all United States coins up until that time. It was surpassed in the Indian Head cent series up to 1880 only by the 1863 issue.

Survivability: Given the high mintage, these have survived in reasonable quantities. The issue circulated for only three years before being pulled out of circulation during the Civil War coinage crisis. In 1863 they reappeared and circulated in quantity for ten more years before the wholesale withdrawal and melting of most copper-nickel cents in the 1870’s. By the 1890’s they were rare in circulation. Merchants who thought them a nuisance due to their greater thickness over the bronze cents had constantly removed them and returned them to the banks.

Examples are plentiful in grades Very Fine and below. Mint State examples are also widely available, but are premium priced due to type set collector demand.

Collecting Challenges: This date is easily found, but premium priced. Collectors should choose examples with exceptional strikes: full feather tips and sharp diamond detail on the lower ribbon. Many coins are of a later die state with mushy details. While later-die-state coins may not be unattractive, a sharp early-die-state coin is worthy of a premium.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is EF-40. These are easily found in most grades. Sharp strikes and crisp details are preferred but diffcult to find.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-64. These can be found easily in moderate grades, but high-quality coins with crisp details are very hard to locate. Cherrypicking for quality is important for this date, since the prices are usually a bit more advanced than those of other dates of similar rarity, due to the type collector pressure.

Collecting Proof Issues: As a one-year design, it is under heavy demand. All are quite expensive for their rarity. Most are attractive, with cameo examples occasionally available. About 25% of gems show some cameo contrast. The recommended grade is PF-64 or PF-65. Collectors are advised to keep an eye out for coins with exceptional visual appeal.

The Snow-1 has a full bold repunched date, and is a very rare and hotly contested variety. An MS-65 example sold for more than $12,000 at auction in 2001. Five other less-prominent repunched date varieties are known and bring moderate premiums.1859, Repunched Date, Snow-1