Why is it stamped, What does it mean?

[Retired Fire]

This Indian Head from 1863 has been stamped with the letters IO or OI the best I can tell. Does anyone have a good idea why this was done? I had one person say it may be a stamp either saying that it wasn't usable or it was usable in the Confederate states during the Civil war. I just don't knw. Any help appreciated!

 

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[Tedyoh]

This Indian Head from 1963 has been stamped with the letters IO or OI the best I can tell. Does anyone have a good idea why this was done? I had one person say it may be a stamp either saying that it wasn't usable or it was usable in the Confederate states during the Civil war. I just don't knw. Any help appreciated!

View attachment 1580475

Counter Stamp would be my guess

 

[grasshopper]

Tough to say exactly what it was for, could have been business advertising or just someone bored at home.

(assuming you know it's 1863, and 1963 was just a typo )

 

[Charlie P. (NY)]

Otto Ignutz testing out his new stamps.

I don't believe copper or bronze coins were ever countermarked for assay. Silver or gold was for use in different countries or to re-value old circulated coins.

 

[fuceye]

I=in , O=out

the coin was stamped to keep the it from getting confused....sometimes coins do not know if they are coming or going....

 

[jewelerguy]

back then some merchants would counterstamp coins and put them back into circulation as a means of advertising, and some were stamped for other reasons such as fraternal organizations, secret symbols, or whatever. Indian head pennies had a long production run (1859-1909) and were still in circulation far after production ceased. It's hard to say exactly when it was stamped, or by whom, or for what reason.

 

[Retired Fire]

Thanks for all the info and thoughts. And yes my fat fingers hit 9 instead of 8 in the 1863 date. LOL

 

[lairmo]

O-ld I-ndian...