Collectors who begin to collect a set of Indian cents will notice an odd coin in their album labeled as the 1864-L. To the uninitiated, it might seem that there must of have been U.S. mint with had an "L" mint mark, like the one for the 1908 and 1909 cents, but that is not the case. The "L" stands for Longacre, Jame Longacre, who designed the coin. In 1864 the supply of nickel that went into the old "thick, white" copper-nickel cents was going short. The mint had been forced to import the medal and prices were reaching the point where it would cost more than a cent to make a cent. At the mint's request, Congress changed the cent alloy to bronze (95% copper and 5% tin and zinc) and reduced the weight from 4.67 to 3.11 grans. The old alloy had been 88% copper and 12% nickel. Despite the change, the public was more than happy to accept the new, smaller cents because there had been a coin shortage for much of the Civil War. A colorfully toned 1864 copper-nickel cent. A first the mint used to the same dies as those that had been used to strike the copper-nickel cents. Later. toward the end of the year, designer James Longacre reworked his design and made minor modifications. The most important change for collectors was that he placed his initial "L" on the small ribbon at the bottom of the Indian's headdress. The letter is not each to see, and most people need a strong glass to spot it. 1864 Bronze Indian Cent. 1864-L Indian Cent 1864-L detail Here is a side-by-side comparison of the 1864 Bronze and L cents. One difference that many collectors notice is the shape of the tip of the Indian's bust. It is rounded on the 1864 Bronze and pointed on the 1864-L. Although the 1864-L cent catalogs for a lot more money than the Bronze coin, I do not think that it is that much scarcer, if it is scarcer at all. I invite others to comment on the rarity of the two coins. In fact I find the 1864 Bronze to be more interesting because it is actually a one year type. All of the later Indian Cents had the "L."
Thank you! For those who are interested in the grades for these coins, here they are: 1864 Copper-Nickel PCGS MS-64, Eagle Eye and CAC approved. 1864 Bronze, PCGS MS-65, R&B 1864-L, PCGS MS-64, R&B
Very nice write-up . The coins are amazing to say the least . I actually was thinking higher on the grade also . Can anyone tell me what " Eagle Eye " is ??
"Eagle Eye" is a grade screening service that is provided by dealer Rick Snow for Flying Eagle and Indian Cents. He affixes a clear sticker with an eagle on it on slabbed cents that meet his standards. He also supplies a credit card sized plastic card with the coin which has a picture and the grade. I have never seen an Eagle Eye approved coin that I didn't like.
+1 saw some Indians that i really liked with them but they sold before I could get the money in the bank
The "With L" is a winner even in the lower grades. Look for the pointed bust when you can't make out the L for the wear.
