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Some coin varieties are immediately noticeable and popular shortly upon issue, others take some time before being recognized as legitimate. In the case of the 1860 Indian Head cent, the difference between a pointed bust and rounded bust only took roughly 120 years! The Pointed Bust design actually refers to the very bottom tip of Liberty’s neck. In this case it comes to a strong point. This is the design from 1859, which is why the coin can be correctly labeled as “1860, obverse of 1859†because this variety accounts for roughly 5% of the total mintage that year. All other aspects of the obverse are the same: headdress, ribbon, pearl necklace et cetera.
Because of its very recent discovery, most numismatists only began recognizing the variety around the 1980’s, many collector albums do not include the variety. However, due to its recent knowledge of existence and popularity and an estimated mintage of only one million, the demand for this coin has risen. If collector demand continues to increase and due to the Civil War Coinage crisis and wholesale melt of copper-nickel coins of the 1870’s, all examples of these Pointed Bust Indian Head cents may get scooped up causing premiums to rise!
As the Pointed Bust Indian Head cent is in itself a variety coin and one only recognized by the late 1980’s there are very little other varieties known. There is only one very minor repunched date (similar to it’s former year) known.
The coin’s obverse has drawn a lot of recent attention, however, the reverse of the coin did change from 1859. The reverse dons a new oak wreath bound together along with three arrows while enveloping “One Centâ€. At the top of the reverse is the United States federal shield, the same federal shield displayed on other type coins of the day.