Indian Head Cent 1867 G-VG

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  • Product ID: 3316
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  • Description:

    The nation grew twofold in the year 1867. Secretary of State William Seward purchased Alaska from Russia for just over $7,000,000. Critics of the Secretary nicknamed the territory “Seward’s Icebox”. In warmer climes, William Cody went on a monthslong hunt killing over 4,000 American Bison, in hindsight something regrettable, giving him the name Buffalo Bill. In economic terms, the nation was still flooded with small coinage and paper currency. The nation’s citizens were still nervous about using and keeping paper currency because of the Civil War. As if the many different choices of small bills and coins weren’t enough, separate National Banks issued their own currency.

    The Indian Head Cent this year, like the year prior, was another low mintage year. Presumably because the economy was already flooded with small denominations. The US Mint also put much of its efforts into making small denomination coins to replace the fractional notes floating about. The 1867 Indian Head cent saw no changes in its die to the year before. Many of these pennies were not initially collected so much of the remaining specimens are in lower grades. Beginning in the 1870’s, the US Mint began melting many pennies, mostly targeting copper-nickel cents, however, many bronze cents were taken and melted as well. Because of this, those pennies from the 1860’s surviving in high grades are highly cherished.

    Over 600 proof issue pennies were minted in the year 1867. They were minted well and have a good mirror finish. It is thought that only 5% of the 600 pennies are cameo. Varieties this year are not plentiful, but there is one very popular variety. There is a very bold repunched date 1867/ 1867. Other minor varieties exist but have nowhere near as much collector interest. Overall this year’s Indian Head cent grabs a premium, especially in high grades.

  • Details:
    • Denomination: Cent
    • Year: 1867
    • Diameter: 19mm
    • Mint Mark: N/A
    • Thickness: 1.5mm
    • Grade: Ungraded

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