1859 1C, CAM (Proof)

The 1859 Indian Head Cent is a significant piece in American numismatics, standing out as the first year of the Indian Head Cent series and a treasured item for collectors. Although the 1859 1C is technically not a Proof in the traditional sense, there are cameo-proof-like specimens that have drawn considerable interest due to their rarity and exquisite craftsmanship. ### Rarity and Mintage The 1859 Indian Head Cent debuted as the first of its series, minted at the Philadelphia Mint. While millions of business strikes were produced, the official mintage for the 1859 Proof version is significantly lower. The official Proof mintage figure is generally estimated to be 800 coins. However, the cameo variety is notably rarer. Many of these Proofs were produced with the intent of showcasing intricate design details, hence only a small fraction of these cameos exist. ### Value and Sales The value of the 1859 1C Proof CAM can range significantly based on its condition and appeal. MS65 CAM specimens have been known to fetch astounding prices at auction due to their rarity and historical significance. For example, sales at prestigious auctions have seen these coins reach prices upwards of several thousand dollars, sometimes exceeding $20,000 in superior conditions. The limited availability and historic value contribute heavily to its market value. ### History and Numismatic Significance The Indian Head Cent was introduced to replace the Flying Eagle Cent and was designed by James Barton Longacre, the Chief Engraver of the U.S. Mint. Its introduction was part of a broader shift in American coinage toward smaller, lighter coins due to the rising cost of commodities and precious metals. The obverse design, featuring Lady Liberty in a Native American headdress, was both a novelty and a subject of cultural reflection during the time of its minting. From a numismatist's perspective, the 1859 1C CAM is particularly noteworthy not just for its beauty and rarity, but also for its place at the beginning of a beloved series. These pieces provide insight into mid-19th century American engraving work and the evolving approach towards aesthetics in coinage. ### PCGS Coin Facts According to PCGS Coin Facts, this coin is cataloged as PCGS #2046. Its historical significance and rarity make it a highly sought-after piece for collectors, and its market presence is a testament to its enduring appeal. In conclusion, the 1859 1C CAM Proof holds an esteemed position in numismatics, celebrated for its aesthetic allure, rarity, and role in the rich tapestry of American coinage history. Its ongoing desirability is clear in its auction performances and the fervor with which collectors seek out its rare cameo variations.