The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
The 1862 is an underrated issue in all grades, its mintage being less than 10% of the previous year's production. As a result, this date has been hoarded and subsequently promoted because of its relatively small mintage. However, according to Wiley and Bugert this has led to a 'whiplash' effect that has led some to believe the 1862 is actually more common than traditionally believed. Generally only seen as part of the Guatemala Hoard (and cleaned as a result).
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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