Description and Analysis

Indian Cents
1862 1C MS

Description & Analysis

The coinage of cents rose in 1862 from the previous year's total, because uncertainty over the outcome of the Civil War and the value of paper money prompted their hoarding. In an attempt to counter the rapid depletion of cents in circulation, the Philadelphia Mint stepped up production. The new coins were hoarded just as readily as the old ones, and this had led to a high survival rate for Mint State 1862 cents.

Walter Breen reported the use of 197 obverse dies and 396 reverse dies for 1862 cents. Surprisingly, this high number resulted in very few varieties. The doubled-die reverse listed at left is the most desirable of these.