Lot 1168
1863 Pattern Cent. Bronze, plain edge. Rarity 8. PCGS graded Proof 64 Red & Brown. Only 3 examples graded in total at PCGS. Very desirable as the second-cousin 1863-L Proof Indian Cent. Few other than specialists realize this but this year's issue is rarer than the more highly touted 1864-L Proof Cent of which 20 were struck. A must for every Pattern collector. The coin's designer (L = Longacre, James B.) helped to bring about the reduced-weight standard of 48 grains for the one-cent coin after the difficult to work 72-grain copper-nickel cents of 1856-64 were abandoned. Beginning as early as 1849-50, in fact, the mint experimented with varying sizes, weights, and alloys for Pattern cents. Finally, French bronze, containing 95% copper and 5% tin and zinc, became the standard and this alloy was used until 1982. A handsome 1863-L Pattern cent with gleaming deep glowing-coal red surfaces topped by bluish-brown sheen. This handsome 1863-L Pattern cent is one of the most elusive known to collectors. Some might consider it the direct precursor to the rare Proof 1864-L regular issue pieces since it is identical except for the date.
The year 1863 witnessed the beginning of the 6 year long project to construct a transcontinental railroad. The two firms that built the at first rickety roadbed, received government grants of land and money for every mile of roadbed they constructed. Completion took place in 1869 at Promontory Point, Utah with the driving-in of the golden spike (that was quickly removed and replaced with a normal iron spike). The railroad tracks and ties were so slipshod and poorly constructed that immediately upon completion, the entire line had to be re-laid over the next several years! (That part is left out of the school text books.) Pop 1; 1 finer in 65RB. We believe the PR63RB coin in the PCGS population report is this coin but now it is graded PR64RB.
Estimated Value $35,000 - 40,000.
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