1877 1 Cent Info Wanted

Not sure if you've seen this sight but he seems to think they miscounted the actual number minted or simply didn't change out the 76 die when they started minting them. Or maybe there's a big stash of them somewhere.

http://bradshawlm.hubpages.com/hub/...an-Head-Cent

Not sure what "story" needs to be associated with the 1877 IHC, aside the story of how it's one of the most overrated US "rarities" along with the 1909-S VDB Lincoln. Both are true for the same reason.

The introduction of the Lincoln Cent prompted a wave of coin collecting. 1909's in general were saved, and the S-VDB specifically because it was known to be rare from the date it was released. The logical target for all these new collectors was the Indian Head cent, then currently in wide circulation.

These new collectors fastened on the 1877 low mintage issue, and a large number were pulled from circulation. Ever wonder why 1877's and 1909-S VDB's are so easy to find on the market?

Because they're not rare. Fewer were destroyed/worn out in circulation than more common issues. More were saved from Day One or in intervening years. The linked article mentions a survival figure of 5000 for 1877 IHC's, as an illustration of its' rarity today.

The dirt-cheap 1878 IHC by the same estimate has only 4000 survivors, and that's a typical estimate for IHC survivors of that era.

The 1877 IHC and 1909-S VDB are only expensive because collectors want to think they are. The demand side of the equation is the only thing supporting prices, because the supply IS sufficient. People just don't think that's true.