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1870 1c Shallow N, FS-901 MS BN

Greysheet & CPG® Values
1870 1c Shallow N, FS-901 MS BN
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Obverse Description

A portrait bearing the likeness of a Native American in full headdress framed by the words UNITED STATES OF AMERICA around the periphery. The date is centered at the bottom under the portrait.

Reverse Description

The reverse bears the denomination of ONE CENT in the center surrounded by a wreath bearing a ribbon with arrows tied in at the bottom center.

Book Reference

1870 Cent Production: In 1870 the reverse design was changed slightly. The new design features a bold ONE CENT denomination. The previous design had a shallower denomination, with the N in ONE being especially shallow. A growing number of collectors seek both reverse designs for this year as well as for 1871 and 1872.

Since reverse dies do not have dates, the Mint had Shallow N (Type of 1869) a number of Shallow N dies on hand at the time, perhaps from the prior year. The Mint reworked many of these dies with the Bold N design, creating numerous doubled-die reverse varieties—a situation similar to the 1878, 7 Over 8 Clear Doubled Feathers Morgan dollar.

The production of all minor coinage was in a decreasing trend during this era. The main reason Bold N / Shallow N for this cutback was the lack of a redemption clause in any of the issuing legislation. The nickel and bronze coinage was beginning to accumulate in commercial channels.

Survivability: This issue was not saved to a great extent. Most of the coins were returned to the Mint over the next few years, during the 1870’s recoinage

Bold N (Type of 1870)

(see 1871 for further discussion). Without any authority from Congress, the Mint accepted nickel and bronze issues, which had been jammed in bank vaults in ever growing numbers, and melted them down to make new coins. The 1870 cents were most likely at the top of the heap of coins being returned to the Mint. Any that survived in circulation are today found in mostly very low grades. The few high-grade examples that are available survived mainly by chance.

Collecting Challenges: As with all dates of this era, finding attractive problem-free coins will be diffcult, though most are well struck. Shallow N reverse coins are slightly scarcer than those with the Bold N reverse, but not enough to warrant a premium.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is VF-20. Higher grades will be very diffcult to find. Lower grades are usually available. Avoid problem pieces, such as cleaned, scratched, or corroded coins. These are discounted in general, but usually not enough to make them good buys.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-64RB. These coins are typically red-brown, with even-colored pieces particularly diffcult to find. Many come with streaky toning due to an improperly mixed alloy in the planchets. Full red coins are rare, and collectors should beware of chemically altered pieces impersonating original full red coins.

When originally struck, all bronze coins are full red. The heat of striking creates a molecular shell, which somehow blocks any change in the color. When the acids in your hands come in contact with the surface of the coin, this layer is destroyed and the coin will start to turn brown. When a coin is cleaned, it is also susceptible to turning a brown color within a short period of time. For this reason, it is very important that any full red coin not have any indication of having been cleaned in the past.

Collecting Proof Issues: Proofs are usually found with medium mirrors. It seems that the dies were not polished very deeply to begin with. Any deep-mirror examples should be worthy of a significant premium. Cameo examples are rare; perhaps only 5% of high-quality examples qualify.

This date in Proof is found with the Shallow N reverse, in use from 1868, as well as a new Bold N reverse. There is a growing general collector interest in the reverse types.

VARIETIES:

Due to the reverse design change, and the subsequent reworking of the dies, there are at least 23 reverse doubled dies known. Some are very dramatic, but most are very minor. The most dramatic varieties are the misplaced dates (MPD). Snow-5 shows a bold 0 digit sticking into the field under the date. S-8 shows the remnants of multiple digits above the denticles, possibly as many as eight. Both garner premiums greater than five times normal value.

One popular variety, dubbed the Pickaxe, has die damage by the last feather, which looks like a miner’s axe. It is relatively common, being paired with at least five different dies.

Above all these in significance are the reverse design varieties: the Shallow N and Bold N. These are gaining in popularity with date collectors, as their existence becomes more widely known.

An 1870 Shield nickel variety is known with clash marks from the obverse Indian Head cent die! This gives rise to the question: does an 1870 Indian Head cent exist with the corresponding Shield nickel clash marks? None have yet been found.

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Catalog Information

GSID: 285617
Designer: James B. Longacre
Obverse Designer: James B. Longacre
Obverse Lettering: UNITED STATES OF AMERICA, 1870
Reverse Designer: James B. Longacre
Reverse Lettering: ONE CENT
Weight (gr): 3.11 gr
Weight (oz): 0.11 oz
Strike Type: Business
Diameter: 19
Coin Shape: Round
Edge: Plain
Variety: Shallow N
Variety 2: FS-901
Coin Date: 1870
Denomination: 1c
Designation: MS
Mint Location: Philadelphia
Mintage: 5,275,000
Coinage Type: Indian Head Cent
Coinage Years: 1864-1909
Composition: 95% copper; 5% zinc & tin
PCGS #: 408017
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Coin Value History
1870 1c Shallow N, FS-901 MS BN
Value By Grade
1870 1c Shallow N, FS-901 MS BN
CPG (retail) values
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Values

Greysheet & CPG® Values
GSID:285617 PCGS:408017 Shop related

Values

Greysheet & CPG® Values
Greysheet & CPG® Values by grade for 1870 1c Shallow N, FS-901 MS BN
Grade CAC CPG Value (Retail) Greysheet Price (Wholesale)
MS66 CAC $4,300 $1,234
MS66 - $3,450 $1,234
MS65 CAC $1,234 $1,234
MS65 - $1,234 $1,234
MS64 CAC $1,234 $1,234
MS64 - $1,234 $1,234
MS63 CAC $1,234 $1,234
MS63 - $1,234 $1,234
MS62 CAC $1,234 $1,234
MS62 - $1,234 $1,234
MS61 CAC $1,234 $1,234
MS61 - $1,234 $1,234
MS60 CAC $1,234 $1,234
MS60 - $1,234 $1,234
AU58 CAC $1,234 $1,234
AU58 - $1,234 $1,234
AU55 CAC $1,234 $1,234
AU55 - $1,234 $1,234
AU53 CAC $1,234 $1,234
AU53 - $1,234 $1,234
AU50 CAC $1,234 $1,234
AU50 - $1,234 $1,234
XF45 CAC $1,234 $1,234
XF45 - $1,234 $1,234
XF40 CAC $1,234 $1,234
XF40 - $1,234 $1,234
VF35 CAC $1,234 $1,234
VF35 - $1,234 $1,234
VF30 CAC $1,234 $1,234
VF30 - $1,234 $1,234
VF25 CAC $1,234 $1,234
VF25 - $1,234 $1,234
VF20 CAC $1,234 $1,234
VF20 - $1,234 $1,234
F15 CAC $1,234 $1,234
F15 - $1,234 $1,234
F12 CAC $1,234 $1,234
F12 - $1,234 $1,234
VG10 CAC $1,234 $1,234
VG10 - $1,234 $1,234
VG8 CAC $1,234 $1,234
VG8 - $1,234 $1,234
G6 CAC $1,234 $1,234
G6 - $1,234 $1,234
G4 CAC $1,234 $1,234
G4 - $1,234 $1,234
AG3 CAC $1,234 $1,234
AG3 - $1,234 $1,234

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