August Steiner Ladies Gold Tone Indian Head Penny Watch. Features A Indian Head Penny On The Dial, Roman Numeral Markers, Stainless Steel Case Backing, Japanese Movement, Sweeping Second Hand, Water Resistant Up To 1atm, Mineral Crystal Face, Push/Pull Crown, Brown Leather Strap And Adjustable Buckle Closure. Case Measures Approximately 31mm X 31mm X 13mm And The Band Measures Approximately 16mm In Width. Comes With A One Year Limited Warranty.
August Steiner ladies gold tone Indian Head Penny watch. Features a Indian Head Penny on the dial, Roman numeral markers, stainless steel case backing, Japanese movement, sweeping second hand, water resistant up to 1atm, mineral crystal face, push/pull crown, brown leather strap and adjustable buckle closure. Case measures approximately 31mm x 31mm x 13mm and the band measures approximately 16mm in width. Comes with a one year limited warranty.|| The California gold rush of the late 19th century had a profound effect on the precious metal trade. Bills backed by silver rose in value as gold become more abundant and the mint reduced the number of silver in coins to balance prices. To help further mitigate this imbalance, a new penny, the Flying Eagle Cent was issued, but manufacturing problems arose from its design. In 1959, a design by James Barton Longacre nicknamed the Indian Head Cent was issued. Production problems continued due to the high relief on the reverse, but the penny was minted until 1909. The obverse of the Indian Head Cent features a right-facing profile of an American Indigenous person wearing a feather bonnet. "United States of America" and the year in which the coin was minted are also included. The reverse reads "One Cent," set within a laurel or oak wreath. In 1860, the design was changed slightly, adding a shield at the top and three arrows under the ribbon that binds the edges of the wreath. The edges of both sides are ridged. Two misconceptions of this coin is that weathered coins are of less value to collectors and that a myth endures that Longacre modeled the face on the coin after his daughter, there is no evidence to support this. Longacre' sketch of "Venus Accroupie," a museum piece in Philadelphia, has surfaced and is dated ten years before the coin was minted. It is likely this sketch served as the basis for the design. The value of the Indian Head Cent has changed over the year, but every pressing of the coin, in mint condition, is worth at least a dollar. Rare editions are worth in excess of $100. The 1877 pressing is the most valuable and one of these coins in mint condition is worth approximately $440.
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