1863 Proof Indian Head Cent

Coin Details

Auction Record

$12,075 PR67 01-04-2001 Heritage Auctions

Description

The 1863 Proof Indian Head Cent is a proof cent struck at the Philadelphia Mint, part of the Indian Head Cents 1859-1909 series. With a mintage of 460, this is an extremely rare issue — the scarcer of two mint variants, with less than 1% of total production. The obverse features Liberty wearing a feathered headdress, often misidentified as a Native American — actually represents Liberty adorned with a chief's war bonnet and the reverse displays an oak wreath with a shield at the top, enclosing ONE CENT. Produced during the Civil War, when coin hoarding caused severe shortages and the Mint experimented with new compositions to keep coins in circulation. As a proof issue, this coin was struck multiple times on specially prepared polished planchets using polished dies, producing mirror-like fields and frosted design elements prized by collectors. Struck at the original U.S. Mint facility, in continuous operation since 1792. Estimated market value is approximately $1.2K. Struck in 88% copper, 12% nickel, weighing 4.7 grams, 19 mm in diameter, with a plain edge. Cataloged as PCGS #2262.