1892 1c PR RB

1892 Cent Production: The slightly lower mintage this year is due to a problem in planchet procurement. Earlier, the winning low bid from planchet suppliers was around 20¢ per pound. This year’s bids were significantly higher. Scovill Manufacturing was low bidder with a price just under 28¢. Two other bids received were slightly more than 28¢. Mint Director Edward Leach recognized that it was “a put up job” and recommended that all bids be rejected. The Mint struck cents from planchets that were on hand, with additional bronze coming from the melting of older cents and twocent pieces. Director Leach also recommended that the Mint should start making its own planchets for minor coins.

Survivability: Coins this year survived in roughly the same quantities as those of the previous few years. True gem examples are quite tough to find.

Collecting Challenges: This date comes fairly well struck. Select coins with even color and attractive eye appeal.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is AU-50 to MS-63RB. Avoid problem coins.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-65RB to MS-64RD, which should be similarly priced. Certified populations for MS-65RB examples are very low, currently far under the quantity of MS-65RD pieces graded. Perhaps this shows that the source of most high-quality Mint State pieces is perhaps from the chance discovery of one or two original rolls rather than from average accumulations, such as generation-old “penny jars.”

Collecting Proof Issues: This date is much more readily available than other dates of the era. Perhaps a select quantity was saved in gem condition, whereas in other years they toned down to brown. We can only guess why. Cameo examples are more readily available than other years, although still scarce.

Most of the 13 or so known varieties are fairly minor repunched dates. A few minor reverse doubled dies are known.

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