1864 1C Bronze, BN (Regular Strike)

The 1864 1C Bronze Indian Head cent holds a significant place in numismatic history as it marks the transition from the copper-nickel alloy to the bronze composition. This change occurred during the height of the American Civil War, primarily to conserve copper, which was a critical wartime resource. The Indian Head cent, designed by James B. Longacre, depicted Liberty in a stylized Native American headdress, with the reverse featuring a simple laurel wreath. ### Rarity and Mintage The 1864 Bronze Indian Head cents saw a substantial mintage compared to earlier issues, with the Philadelphia Mint producing approximately 39,233,714 pieces. This high mintage reflects the growing economic activity and increased demand for coinage during that period. Despite this, the coin's copper and tin composition was unusual for the time, leading to variations that are of particular interest to collectors. ### Numismatic Significance From a numismatist's point of view, the 1864 issue is pivotal for its alloy change and the introduction of "L" on Lady Liberty's ribbon, representing the designer Longacre's initial. There are varieties, including the "No L" Bronze version, which typically commands a premium due to its comparative scarcity. These varieties echo transitional aspects within U.S. mint systems during a tumultuous historical era. ### Value and Auction Records The value of the 1864 1C Bronze varies across conditions and specific varieties. Typically, circulated examples range from $20 to several hundred dollars. However, high-grade and rare variety coins can fetch significantly more. For instance, a well-preserved “No L” variant in MS65 condition from the Philadelphia Mint can command prices upward of $10,000 at premier auction houses. Prestigious auction sales have shown the allure of these coins among collectors. An MS66 RB (Red Brown) example fetched a remarkable price due to its superior luster and rarity. With the PCGS grading contributing substantially to its value, the collectors' market remains robust as investors seek quality specimens for their historical significance and rarity. ### PCGS Identification and Information According to PCGS CoinFacts, the 1864 Bronze Indian Head Cent is listed under PCGS #2079. The service provides detailed specifics, including the frequency of high-grade specimens and population reports. Here, the grading highlights the rarity of top-condition coins, influencing both buying decisions and collection strategies. ### Historical Context The transition to the bronze composition in 1864 also symbolizes broader economic shifts in the U.S., reflecting the push for cost-effective solutions amidst the turbulent Civil War economy. This context provides an enriching backdrop to the study and collection of this particular coin, enhancing its appeal both as a historical artifact and a numismatic treasure. With its historical significance, diverse varieties, and potential for great value, the 1864 Indian Head Cent stands as a captivating piece for collectors everywhere, embodying a significant era in American history.