Indian Head Cent 1863 G-VG

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  • Product ID: 3311
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  • Description:

    The year 1863 was another year dominated by the events of the American Civil War. Obviously Lincoln’s Emancipation Proclamation did little to free the four million slaves living in the Confederacy. Although the Confederacy saw major defeats this year, the Union saw defeats of its own in draft riots. The Union wanted decided to increase its troop size or coffers by drafting citizens or requiring them to pay $300 to avoid war. The federal government’s paper currency depreciated so low that it took over $150 in paper to buy what $100 in gold could purchase. Besides, all the gold and silver coinage issued by the US Mint would be used in federal export trade or held in Treasury vaults.

    In effort to end the Civil War coinage crisis of 1862, the US Mint issued just under 50,000,000 Indian Head cents in 1863. To try to decrease dependency on copper-nickel coinage, the Mint even issued fractional paper currency this year. The penny, once again, saw wide circulation. That is until the Mint began redeeming copper-nickel pennies for copper pennies in the 1870’s. However, due to the huge mintage figure in 1863, even though much of the penny population was melted, there is an abundance from this year left for fellow numismatists. This is also the final year to exclusively issue copper-nickel cents!

    Those collecting proof issue Indian Head cents will have difficulty finding good examples from this year. Despite similar mintage figures from the previous year proof issues in 1863 are hard to come by. There is one popular variety from 1863. The Snow-10 is a double die reverse. Very few check the reverse for double dies and only experience dealers know to look for it in this year. This gives cherrypickers a unique opportunity to locate a popular war year variety!

  • Details:
    • Denomination: Cent
    • Year: 1863
    • Diameter: 19 mm
    • Mint Mark: N/A
    • Thickness: 1.55mm
    • Grade: Ungraded

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