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Mint Act of 1871
October 18, 2009October 18, 2009 Add comment0 comments Coins Coins
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In the late 1860's there were more Indian head cents being made than there was a need. A few years earlier, during the Civil War, it was very difficult to find coins. Since the legal-tender limit was 4 cents, banks could not redeem the extra coins. So the Mint Act of 1871 allowed the Mint to redeem the cents and issue new ones. The redeemed coins were melted down to make new coins. This is a reason the 1866 to 1878 Idian Head cents are so hard to find. The mintage of those years are very low because there were too many Indians. It is very difficult to find these coins in higher grades. Most are worn from use.
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coins4u
Posts: 39
Comments: 6
Hi My Name is RON and I am a Numisholic. There I finally admitted it, and I have not bought a coin in a week, except for that 1942
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