Raw from stock.
The 1882 Indian Head Cent is a very common coin in all grades, up to (and including) MS65. MS66 examples are scarce, and the finest examples certified by PCGS are a pair of MS67s. The typical 1882 Cent is well-struck, but some examples display surface granularity that develops as the dies wear. Luster is good and the original color appears to be full red or an orange-red.
Brown examples are plentiful, though the PCGS Population Report shows a smaller number than in the Red-Brown or Red categories. This is because certification adds little value to Brown examples.
Likewise, Red-Brown examples are also plentiful, with the bulk of the population falling into the MS64 category.
Red examples are more scarce than Red-Brown examples, but collectors still have access to a fairly good supply of 1882 Cents in MS64RD and MS65RD.