NOTE June 2016:
Two new die marriages (comprised from three new dies!) have been discovered, despite the very low mintage of this issue. All of this is now detailed in the page below, and on the new pages for BF-3 and BF-4. An addendum that can be downloaded, printed, and inserted in the Print Edition is available by clicking the link here: 1876-P Addendum June 2016, PDF, 11.5mb


1876-P


Mintage:
Circulation strikes: 14,640
Proof strikes: 1,260

Major Varieties:
The most common reverse found on 1876 coins is a doubled die. The doubling is very minor and is most noticeable on UNITED STATES (particularly the crossbar of the “A” in STATES), and on the S in CENTS. On weakly struck or well-worn coins, evidence of the doubled die may not show.

Overall Scarcity:
The scarcest and lowest mintage of the regular issue circulation strikes, this date can be difficult to locate in all grades. The 1876-P appears less frequently than the 1875-P which can be expected based on the low mintage. Similar to the 1875-P, the 1876-P is less expensive than the more readily available 1875-CC.

Most examples of the 1876-P are in higher circulated and mint state grades, generally extremely fine and above. Unlike the 1875-P, low grade coins are seldom seen as many coins were likely removed as souvenirs of the centennial. The authors have seen only a small number of coins grading below fine.

This date is in demand due to its low mintage, but the pricing does not reflect the coin’s true scarcity. Nice, original specimens are worth a premium. The 1876-P is the only collectible twenty-cent piece from this year.

     

An unusually well-worn 1876-P (click above for high-resolution images)

Proofs are available and like most twenty-cent proofs, are more often found at auction. Many of the proofs are impaired and sometimes a cleaned or impaired proof can be found misattributed as a circulation strike.

Comments:
Similar to other coins of the era, many of the coins available are cleaned or have other problems. Numerous surviving pieces are nice and generally command a significant premium. Like the 1875-P, this issue is underrated and undervalued.

Die Marriages:
It is surprising that, with a mintage of less than 16,000, three obverse and three reverse dies were used to strike the 1876-P coins, in four die marriages, including a likely re-marriage. Two of these die marriages are recent discoveries, including the re-use of Reverse B from 1875-P BF-2. A remarriage or second striking event is suspected as the 1875-P reverse is seen on 1876 coins both with and without die rust.

The original two die marriages account for the vast majority of 1876-P examples.


Die Marriage Grid for the 1876-P




Copyright © 2013-2014, by Lane J. Brunner and John M. Frost, All rights reserved.