1864 Indian Cent. Bronze. L on Ribbon. Snow-3, FS-2302. Repunched Date. MS-66 BN (PCGS).

A handsome and significant Gem, with both sides retaining blushes of faded pinkish-red mint color shining through dominant olive-brown patina. Sharply struck overall with a smooth, satin to softly frosted texture. The popular L on Ribbon 1864 cent is the result of James Barton Longacre's redesign of his basic Indian Head design in anticipation of a change in alloy from copper-nickel to bronze. In addition to the placement of the designer's initial on the ribbon, the With L type exhibits a narrower bust point and sharper feathers in the headdress than its No L predecessor. Several times scarcer in an absolute sense than the bronze No L variety, the 1864 L on Ribbon is particularly desirable in the finer Mint State grades, as here. One of several prominent Repunched Date varieties of the issue, Snow-3 exhibits bold repunching to the digits 1, 8 and, to a lesser extent, 6 in the date. Popular with specialists, and this is the single highest-graded example in an attributed PCGS holder.

PCGS# 37411. NGC ID: 227M.

PCGS Population (Snow-3 attribution only): 1; 0 graded higher in any category.

Estimate: $5000