Perhaps he's referring to the Mint Act of 1871, where millions of cents were melted down and recoined from 1871-81. Rick Snow summarizes the figures on p. 117 in his Red Book edition "Flying Eagle and Indian Head cents." Given the discrepancy of mintage figures for 1877 and what actually has survived, Rick Snow speculates that perhaps 3/4 of the 1877 mintage was destroyed by the recoining (p.136)
Could be but that wasn't a recall. That was the result of all the hoarded coinage coming back from hoarding and outside the country creating a glut of unneeded coinage piling up in the Treasury. That unneeded coin was melted down as raw material for new coin.
I won't split hairs on the words, but what I think is pertinent to the discussion is that recently coined cents may have been melted again. It's been discussed as a reason for low survivability of cents fromm the 1870s.
The actual report number the Mint received was 10 million initially. As we know, supposedly, 852,500 were actually said to have been minted. Rick Snow thinks the real number was closer to 150,000.
Where do you all think is the best place to find the 1877? I heard there were a few at the FUN show last week. Just curious where you've seen them....other than maybe ebay.
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