1862 is a date well known for many interesting rim Cuds and die chips (Mr. Poliquin reports over 20 different varieties on his excellent IHC site) and this coin has a nice obverse rim Cud at K7. The reverse is also showing some early signs of developing rim Cuds (denticle separation from K11->K3 clockwise, again at K6, and you can see the beginnings of a rim Cud at K4.) Some of the most spectacular Cuds and die failures can be found in this year.
The sharpness is AU53, but I'm not liking those discolored/blotchy areas near the Cud on the obverse, nor the absence of luster, so my grade would be AU53 details / cleaned. Might benefit from CCC/Blue Ribbon soaking. All Indian Head cents with Cuds are collectible, though!
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