(1874) CSA 1C Haseltine Restrike, Copper, RB (Proof)
Obverse & Reverse
The story of the Haseltine Restrike is inextricably linked to the original, almost mythical, 1861 Confederate Cent. In the nascent days of the Confederacy, agents purportedly commissioned Robert Lovett, Jr., a talented engraver and die sinker in Philadelphia, to prepare dies for a new national cent. Lovett completed the work, creating a beautiful 'French Liberty Head' design, and struck a very small number of prototypes, perhaps only a dozen, in a copper-nickel alloy. However, as the Civil War erupted in earnest, Lovett grew fearful of being charged with treason for aiding the enemy. He ceased all work, never delivered the dies or the sample coins, and hid them in his cellar, where they remained a secret for over a decade. The tale re-emerged in 1873, when Lovett, reputedly after having too much to drink at a local tavern, accidentally spent one of his original Confederate cents. The unusual coin was noticed by the bartender and quickly found its way into the hands of Philadelphia's nascent numismatic community. Capt. John W. Haseltine, a prominent coin dealer and Civil War veteran, along with collector J. Colvin Randall, traced the coin back to a perpetually denying Lovett. Their persistence paid off when they visited Lovett and found him 'slightly in his cup,' leading to a full confession and the revelation of the hidden dies and remaining original cents. Haseltine purchased the dies and the coins from Lovett. Recognizing the immense collector interest in such a piece, Haseltine, in collaboration with Peter L. Krider, decided to produce 'restrikes' in 1874 to sell to the collecting public. He shrewdly chose not to strike them in the original copper-nickel composition, thus preserving the unique status of Lovett's originals. Instead, he produced a small number of Proofs in gold (reportedly 7), silver (12), and a larger run in copper (reported as 55). These were struck with care, resulting in high-quality Proof specimens. Haseltine claimed that after the 55th copper strike, the retaining collar broke, ending the production run—a dramatic marketing flourish that may or may not be entirely factual. These restrikes are not Confederate coins in the true sense, as they were struck nine years after the war's end by a private individual in the North. However, their direct creation from the original, Confederate-commissioned dies gives them a unique and powerful historical connection, making them one of the most storied and sought-after issues in American numismatics.
Associated EventPost-Civil War Numismatic Collecting Boom
Reason For MintingTo satisfy intense collector demand for a tangible numismatic link to the defeated Confederate States of America.
Minter HistoryCaptain John White Haseltine (1838-1925) was a well-known and influential Philadelphia coin dealer, auctioneer, and numismatist of the late 19th and early 20th centuries. A Union Army veteran, he became a key figure in the city's vibrant coin collecting scene. After acquiring the original Confederate cent dies from Robert Lovett, Jr., he masterfully marketed the story and the resulting restrikes, cementing their place in numismatic lore. His catalogs and auction sales were significant events, and his handling of the Confederate cent dies is his most famous legacy.
Historical SignificanceThe Haseltine restrike is a fascinating artifact of post-Civil War America, representing the birth of a sophisticated numismatic market capable of recognizing and monetizing historical rarity. It is a direct link to the Confederacy's unfulfilled coinage ambitions, struck from the original 1861 dies. Its creation story, filled with secrecy, fear of treason, and shrewd marketing, makes it a classic numismatic tale and a perennial favorite among collectors of Americana and Civil War-era items.
N/A
Denomination1 Cent
Minting Period1874
Assayer/MinterJohn W. Haseltine
Geographic OriginPhiladelphia, Pennsylvania
Obverse DescriptionThe obverse features a left-facing bust of Liberty, often referred to as a 'French Liberty Head' or Minerva. She wears a Phrygian or Liberty cap, with long, flowing hair tied at the back. The portrait is sharply defined against a mirrored proof field.
Obverse InscriptionCONFEDERATE STATES OF AMERICA 1861
Reverse DescriptionThe reverse displays a wreath composed of primary agricultural products of the South. Clockwise from the bottom, it includes a bale of cotton (bearing Lovett's initial 'L'), stalks of corn, leaf tobacco, and maple. The wreath encircles the denomination.
Reverse Inscription1 CENT
CompositionCopper
Stated Fineness Actual Fineness Weight4.67 grams
Diameter19.00 mm
EdgePlain
55
Survival EstimateApproximately 40-50
Rarity ScaleR-5
This issue is immensely popular due to its romantic and clandestine history, its direct connection to the original Confederate dies, and its status as a classic 19th-century restrike. It appeals to collectors of Civil War artifacts, Confederate items, small cents, and numismatic oddities. The low mintage ensures perennial demand.
Key VarietiesThe primary varieties are the metals in which they were struck in 1874: Gold (7 struck, R-8), Silver (12 struck, R-7), and Copper (55 struck, R-5). It is crucial to distinguish the Haseltine restrikes from the later Bashlow restrikes made in the early 1960s. The Bashlow restrikes were struck from the same dies, but only after the dies had become severely rusted and were intentionally cancelled with chisel marks. Therefore, all Haseltine restrikes are from perfect, unmarred dies, while Bashlow restrikes show significant die rust and cancellation gashes. There are no known original-period Proofs or business strikes of this type by Haseltine; all were collector issues.
Authentication TipsAuthentic Haseltine restrikes must be from perfect dies, exhibiting no rust, cracks, or cancellation marks that define the later Bashlow issues. Look for sharp, proof-like or reflective surfaces characteristic of a special striking. The die diagnostics should match known originals perfectly. Counterfeits are known but are typically of lower quality, lacking the sharp detail and proper surface characteristics of a true 19th-century Proof striking. Weight and diameter should conform to specifications.
Shopping ConsiderationsA premium quality example for its grade will possess deeply mirrored fields and frosty devices, exhibiting strong cameo contrast. The desired coloration is either full 'Red' (RD) or attractive 'Red-Brown' (RB), with minimal carbon spotting. Pay close attention to the surfaces for any signs of hairlines, cleaning, or mishandling, as the mirrored fields are very susceptible to damage. Strike quality should be sharp on all high points, including Liberty's hair and the details of the wreath. Coins with original, untoned red surfaces command the highest premiums. Avoid examples that are darkly toned (BN), have distracting spots, or show evidence of being wiped or polished.
A coin's grade is its condition, rated on a 1-70 scale. For rare coins, this is the most critical factor in determining value, as a tiny difference in preservation can mean a huge difference in price.
Relevant Grade TypesAll 1874 Haseltine restrikes were specifically struck as Proofs (PR or PF) for sale to collectors; they were not business strikes intended for circulation. Therefore, they are graded on the 70-point Proof scale (e.g., PR 63, PR 64). Examples that may have been mishandled over the years could receive a 'Details' grade (e.g., PR Details, Cleaned), but no circulated grades (like VF or XF) are applicable as they never circulated.
Mint State CharacteristicsAs these are Proofs, the key characteristics are the quality of the strike and preservation of the surfaces. A high-grade example (e.g., PR 65 and above) will have deeply mirrored, virtually flawless fields. The devices (Liberty's portrait, legends, wreath) should be sharply struck and display a satiny or frosty texture, creating a distinct cameo effect. Luster is not 'cartwheel' like a business strike, but rather a hard, reflective brilliance. Marks, even tiny ones, are heavily penalized on Proof coinage.
Circulated Wear PatternsThese coins were never intended for circulation. Any wear would be considered post-striking damage or mishandling. If an example were to be mishandled, the highest points—Liberty's cheekbone, the hair above the ear, and the high points of the cotton bale and corn on the reverse—would be the first to show friction or flattening. Any such 'wear' would likely result in a 'Details' grade rather than a numerical grade.
Key Factors For ValueFor the Haseltine Copper Restrike, value is determined by several key factors in descending order: 1) Surface Preservation: The absence of hairlines, contact marks, wipe marks, and carbon spots is paramount. 2) Color: Coins retaining significant original mint red (designated RD or RB) are far more valuable than those that have toned to a full Brown (BN). 3) Cameo Contrast: A strong contrast between mirrored fields and frosty devices is highly desirable and commands a premium. 4) Overall Eye Appeal: The subjective quality of the coin's appearance, free of distracting toning or marks. A sticker from CAC (Certified Acceptance Corporation) confirms a coin is high-end for its assigned grade and typically adds a significant premium.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 63 | $52,500.00 | 3 |
| 63+ | $55,000.00 | N/A |
| 64 | $67,500.00 | 3 |
| 64+ | $90,000.00 | N/A |
| 65 | $125,000.00 | 2 |
| 65+ | $135,000.00 | N/A |
| 66 | $150,000.00 | N/A |
Graysheet Price Guide
| Coin | Price Range |
|---|---|
| 1861 DT$5 Clark Gruber, Copper, K-10b MS RB | $6,250 - $21,500 |