1859 1C Shield Reverse J-228 Indian Cent PCGS MS65+ (PHOTO SEAL)

Superb Gem Unc (14: 4,5,5) Full strike with very few marks. This is an outstanding example, as evidenced by it was originally graded PR66 by PCGS and as such was the finest graded! Well it is not a Proof, but their mistake shows how nice this example is. These are usually weak on the shield and this is fully struck. This issue was struck in the last month of 1859 and were to be issued. The small mintage of only 1,000 pieces might have ignited the interest of a Philadelphia area dealer in 1859 and he may have bought the entire issue for $10. Regardless of the circumstances, none were released into circulation.

This issue is widely collected as part of the regular issue Indian cent collection. As such, it is a very low mintage regular issue rather than a relatively common pattern. It is clear that there was little need for a such a mintage to test the design change. Apparently, none were released into circulation ans nearly all are uncirculated. The question remains as to the intent of their issuance. I feel they were issued as regular coins. They were not put into circulation because they were likely purchased by a dealer and sold off to collectors many years later. The 1,000 piece mintage is only $10 face value.