David Akers (1975/88): The 1877 is comparable in overall rarity to the 1865, which has a slightly lower mintage, and it is decidedly more rare than the lower mintage 1871. It is not, however, nearly as rare as the 1865 in choice condition. Overall, the 1877 ranks 9th in terms of total number of appearances in our 238 catalogue auction survey, but only 20th in terms of rarity according to average grade.
Proofs are readily distinguishable from business strikes by the location of the date. The date on the proofs is low in the field with the first 7 being just above the bow. On the business strikes, the date is higher in the field and is nearly centered bewteen the bow and the word DOLLARS.