The 1877 Indian Head Cent: The King of Pennies

In eighteen seventy-seven, America was broke — and the Philadelphia Mint struck almost no pennies. The few cents it did strike became the rarest date of the Indian Head cent series, the king of the entire collection, and a coin worth six figures today. In this video: the Panic of 1873 and the Long Depression that crushed coin demand, why the Mint reissued more than nine million old cents instead of striking new ones, the mystery of the single reverse die that should never have survived, the runaway apprentice James Barton Longacre who designed the coin but died eight years before its rarest date was struck, what the 1877 sells for today (from around $500 worn to the $149,500 Golden Princess record), and how to spot the fakes. I'm Jacob — Army veteran and coin collector. New videos every week on coins, what they're really worth, and the hunt. Subscribe:    / @capscoins   Chapters (approx): 0:00 The rarest penny of the nineteenth century 0:28 Jay Cooke's fatal gamble 1:01 The Panic of 1873 1:31 The Long Depression 2:02 Why nobody needed new pennies 2:45 More than nine million reissued 3:10 Eight hundred fifty-two thousand 3:50 The single-die mystery 4:35 Ghost clash marks 4:59 The runaway apprentice 5:36 Longacre's greatest design 6:28 He never knew the 1877 6:44 What it's worth today 7:02 Mint-state money 7:20 The Golden Princess: $149,500 8:03 A strange year for all small change 8:22 Beware the fakes 8:57 The king of the series 9:16 Check your penny jars 9:30 The proof 1877s 9:50 An accomplishment in any grade