Market Analysis: Only 1862 cent graded PCGS MS-68 brings $50,400
- Published: Jun 27, 2020, 11 AM
Collectors benefit from three distinct versions in the Indian Head cent series, starting with the copper-nickel Laurel Wreath Reverse in 1859 that’s a one-year type. The copper-nickel Oak Wreath with Shield reverse continued from 1860 to 1864 and that reverse remained as the cent’s composition switched to bronze later in 1864. The series ended in 1909 when it was replaced by the Lincoln cent.
An 1862 Indian Head cent is not rare, with a mintage of 28,075,000, and even Mint State survivors are plentiful. However, just one is graded MS-68 by PCGS, and Stack’s Bowers Galleries sold it for $50,400 on June 18.
Its cataloger noted, “The surfaces are essentially flawless, with subtle prooflike reflectivity in the fields and undisturbed frosty texture across the devices,” adding, “A small area of dark toning on Liberty’s hair ribbon will help in tracing this superior piece through future cabinets.”
The strong price was more than double the $24,000 that the next-finest graded at PCGS, an MS-67+ example with a green CAC sticker, sold for at Heritage’s August American Numismatic Association World’s Fair of Money auction.
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