1883 5c No Cents PR

Bronze or No L: These are typically called either 1864 No L or 1864 Bronze cents. Older collectors and grading services are accustomed to labeling this as Bronze. This separates these coins from the copper-nickel cents. The design change to the 1864 With L is assumed. In the past ten years it has been also listed as the No L, which separates the coin from the With L issue. The change from the copper-nickel alloy is assumed.

1864, No L, Cent Production: On April 22 a bill authorizing the change to a bronze cent was signed into law. This law also made the use of all private coinage illegal. The first bronze cents were produced on May 13 and released into circulation on May 20. There was no reason to make new dies for this coinage, as the Mint still had on hand many of the dies made at the beginning of the year for the copper-nickel cent coinage.

The coins were an immediate success. This cent composition remained basically unchanged, except for the emergency issues of World War II, until 1982, when it was changed to copper-coated zinc.

Survivability: These coins were released into circulation and stayed there for quite a while. They were only removed from circulation when they became too worn or damaged to be useful as coinage. Today they are mostly found in Very Good condition or lower.

Collecting Challenges: This issue is a one-year type, but this seems to be overlooked by most type collectors. As such, type collector demand is not a big factor in the pricing of these coins. These were mostly struck with dies used to strike the copper-nickel cents earlier in the year, and most coins show mushy details with numerous die clashes. Only about one in 30 coins was struck from fresh dies. The new dies produced crisp early-die-state pieces, which will have very sharp details. While many collectors will overlook die state when selecting coins, it may be important enough to spend the extra time to locate these. It may not cost much more, and the eye appeal of these pieces will more than make up for the time spent looking.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is AU-50. The vast majority is found in low grade so it is important to buy the best you can for your budget. Early-die-state pieces may occasionally be found, and should be bought when encountered.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-65RB. This is one of the most common issues of the Civil War years. In Mint State this date is no more common than any of the copper-nickel issues, but it can be found at a much lower price. Finding examples with eye appeal is recommended. Common, early-die-state pieces are very hard to find, as are ones with even red-brown color. Pieces with full mint red color are hard to find with eye appeal. Trying to find an early-die-state example is quite a challenge.

Collecting Proof Issues: The typically reported mintage is 150, but this is unreasonably low. While this issue is quite scarce, it always seems to be available. More than 200 examples have been recorded graded by ANACS, NGC, and PCGS combined. Even with duplicate submissions it seems unlikely that the mintage is anywhere near 150. A more realistic estimate may be 300. This issue is found mostly brown or with very little red present. Examples with even color with deep mirrors are most desirable for the issue. Full red examples are very diffcult to find and are very expensive. Examples with cameo contrast are extremely rare and are usually priced with a significant premium.

The best variety is the Snow-4 doubled die, with the doubling most prominent on LIBERTY. It was discovered in 1991 and is widely known, yet few examples have turned up. Very few examples are known. This is a coin that can make your day if you find one. There are Doubled-Die Obverse, Snow-4 only seven other varieties reported, mostly minor repunched dates. The other standout variety for this date is Snow-11, which has circular lathe lines over the face on the obverse.

An 1864 two-cent piece variety is known with clash marks from the obverse Indian Head cent die! This raises the question: does an 1864 Indian Head cent exist with the corresponding twocent piece clash marks? None have yet been found.

Key to Collecting: This historical and fascinating variety was saved in quantity at the time of issue. Today, examples are common in all Mint State grade levels. Striking sharpness can vary considerably. Many have die cracks and other interesting features. There are enough around for just about everyone interested. Such a coin is a fascinating addition to any collection, for few issues have more remarkable stories. Several youngsters who later become prominent professional numismatists, Farran Zerbe and Arthur M. Kagin among them, became interested in coin collecting after obtaining one of these curious nickels.

Characteristics and Appearance: The dies were not widely studied until the 1960’s. Of the 630 obverse dies used to coin both types of 1883 Liberty Head nickel, an estimated 200 or more were used exclusively for this issue. Some 242 reverse dies, all of Reverse Style B, are known to have been made. So many die pairs were used that no one rule can fit all. The striking of details ranges from weak to sharp, but is usually above average, with full stars and with decent details on the reverse, but with some lightness on the corn. The luster is usually satiny, sometimes slightly prooflike, but not often deeply frosty. Die cracks are very common on this issue; some are so extensive it seems surprising that the dies held together. This letter from Herman K. Crofoot, published in the July 1956 issue of The Numismatist, reflects this:

Of those 630 obverse dies, probably not all were used. If all were employed for the combined coinage of 21,500,000 for both types, that would indicate a life of about 34,000 impressions per die. Most dies were probably retired due to cracking, not wear.

Mintage and Distribution Notes: As discussed in the narrative above, this issue was eagerly snapped up by the public and was saved in quantity.

Characteristics and Appearance: Proofs are usually well struck and with good contrast.

Mintage and Distribution Notes: Reverse Style A (with repunched S in PLURI- BUS; rare) and Reverse Style B (usually seen). By March 31, Proof production amounted to 3,519 coins, reflecting the tremendous demand for this curious variety. By June 30, an additional 1,700 were delivered. This accounts for the figure of 5,219 commonly quoted, as here. R.W. Julian, in “Notes on U.S. Proof Coinage” (1966), cites 2,850 With CENTS Proofs delivered on June 26, with 1,000 more on October 11, and a further 2,993 by December 31. These figures are somewhat confusing as they indicate a great demand for the With CENTS, a sentiment that seems unlikely and is questioned by Breen in his Proof coins encyclopedia. It would seem reasonable to me that much of the With CENTS mintage quantity should be moved to the Without CENTS, an action that seems to be verified by market appearances and certification data. Likely, collector demand for Without CENTS Proofs lasted throughout the year, and orders for such coins were filled. Breen states that at least seven Proof obverse dies were used, indicating a large coinage. This includes varieties with the 1 close to the neck and distant from the denticles, another with the 1 close to the denticles, and several with the digit about centered. In any event, for a time in 1883 the Mint contin- ued to strike and sell all three designs of nickels of the year, the Shield and both types of the Liberty Head.1

Repunched Date—FS-1301. As described in the Fivaz-Stanton book, Cherrypickers’ Guide to Rare Die Varieties, the lower left serif of the 1 in the date extends outward from the lower left side of the first 8. URS-4.