1862 1C PR(PCGS#2259)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

4031

Grade

PR66

Price

2,280

Lot Description

A very pretty piece, both sides exhibit subtle powder blue and pale pink iridescence on otherwise tan-apricot surfaces. Boldly struck with semi-reflective fields, the entire package is carefully preserved to fully support the premium Gem grade from PCGS. The United States Mint at Philadelphia struck 550 Proof Indian cents in 1862. Sales to contemporary collectors were likely sluggish at first since the Mint required payment in gold, which had disappeared from circulation in the East and Midwest late in 1861, after the start of the Civil War. While many examples likely remained unsold by year's end Rick Snow (2014) states, "It is probable that these pieces, probably numbering 200, were later found and sold to collectors." We suspect that this theory was put forth to explain the relative availability of the 1862 compared to other Proof copper-nickel cents of the 1860 to 1864 era, especially in the finest grades. This issue becomes a considerable rarity above Gem Proof and few have been graded finer by PCGS in this category.