Looking for market grade and fair market value on this 1864-L indian cent

mountainman 2

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Hello, I dug this 1864 L a few years back and looking for a market grade on it. It has a nice green patina. The Y in liberty is damaged along with some chipping along the rim. Whats your opinion and what would be a fair market value. Thanks in advance.
 

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CoinsAndThings

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In 1864 there were two types of Indian Head cents; Copper-Nickel and Bronze. I think, but I'm not certain, yours is Bronze. PCGS Resources suggest, depending on grade, a price range of roughly $110 to $220. But I'm no expert. And it's difficult to tell from a photo. Hopefully others with more skill we be along shortly
 

ironhorse

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Keep in mind that a published price on a certain grade means the coin needs to be professionally graded to achieve that number and sell for it.
The OP stated the coin is green...well that's corrosion and it cannot be removed from the entire surface of the coin without damage.
So this coin is and will always be a 'details 'coin...not entirely market friendly. Details coins often sell for less than half of price of a straight graded coin with a numeric grade attached. Corrosion, holes, scratches, cleaning, bends or dings...all these things will detail a coin
Still it's a good looking coin and should be enjoyed in your collection...but it doesnt hold a ton of value being dug.
There are still tons of those Indian heads out there in mint and circulated state for the collector to invest in.
Just my two pennies
 

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mountainman 2

mountainman 2

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Probably not worth submitting it for grading. Thanks for all your replies. I will put it in a flip and hold on to it.🙂
 

galenrog

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Feb 19, 2006
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For all the newer boys and girls out there, the “L” on this coin only appeared on the bronze version of the 1864 cent. It is not a mint mark. It designates the designer, James Longacre.

For those of you who have been doing this since you were 10, sorry to have taken thirty seconds of your time.

Nice coin, despite all the green. That can be alleviated with professional conservation, but the cost would likely be several times the potential value of the coin.

Time for more coffee.
 

cudamark

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I would grade it VF35 but with some environmental damage. Whether a coin grading company would agree is anyone's guess. With it's damage, I would price it about one grade lower. Not worth sending it in for grading IMO.
 

sprailroad

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Probably not worth submitting it for grading. Thanks for all your replies. I will put it in a flip and hold on to it.🙂
No matter, still a good find. 1864 and 1864 L, Bronze, there were 39,233,714 minted, and you DO have a "L" marked one. I myself thought L mintmark? what mint mark was that, there is no such mintmark, Ah HA! as pointed out by "galenrog" it was a designer initial, located in Liberty's hair to the right of her neck. Had to look that up in a 2015 issue of COINS magazine, when they used to also show the amount minted, and the weight of the alloy. Saved that issue. Thank you galenrog, it was not a waste of 30 seconds for me.
 

Old Bookaroo

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I would frame that coin between two pieces of glass along with appropriate artwork and hang it on the wall.

Good luck to all,

The Old Bookaroo
 

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