US Coins

Red Cameo Indian Head cents hits big at LBE: Market Analysis

Below is the second of three segments from Steve Roach, highlighting some diverse sales the Long Beach Expo earlier this month:

Heritage’s auctions held at the Long Beach Coin, Currency, Stamp and Sports Collectibles Expo on Feb. 4 and 5, along with an online session on Feb. 7, realized $8.27 million as of Feb. 8. Two of the top lots were consigned by Texas Rangers co-owner Bob Simpson. Leading was a 1943-S Lincoln cent struck on a bronze planchet, graded About Uncirculated 58 by Professional Coin Grading Service, that brought $282,000 and Simpson’s impressive nine-piece 1856 Proof set, which sold for nearly $200,000.

The Coin:
1902 Indian Head cent, Proof 67 red Cameo

The Price: 

The Story:
One of the highlight consignments of Heritage’s Long Beach auction included Indian Head cents from an anonymous collector that Heritage nicknamed “Mr. Perfection” because he wanted all of his coins to be the finest for the grade.

Heritage added, “By focusing on CAC-approved coins, series collectors can be assured the distinction is especially meaningful for full Red and Red and Brown Indian cents in the highest grades, where CAC populations are very low.”

Among these was his 1902 Indian Head cent graded Proof 67 red Cameo by PCGS with a green CAC sticker that sold for $22,325. It has a sharp strike, frosty devices and “Rich honey-gold and orange surfaces predominate, ceding on portions of each side to vivid cherry-red.” The sole CAC example in this grade, it is perhaps the finest known example of this date.

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