Shortly after production commenced for1860 dated Indian cents, the Philadelphia Mint transitioned to a slightly modified design.
The newer design had the Indians bust redesigned (right beneath the neck). The base of the neck on the newer design is now thick and less pointier if compared to the old design. Therefore, the new modified design is referred to as a Rounded or Broad Bust design, while the old design is referred to as a Pointed Bust design.
The Pointed Bust or the original design is much scarcer than the new rounded bust design. The Pointed Bust design is possibly about 6 times scarcer than the rounded bust design based on the population report figures.
Circulated Grades: In circulated grades 1860 Pointed Bust cents can be found without much trouble and can be purchased for a small premium over broad struck examples.
MS60 - MS63: In MS60 to MS63 grades they are considered scarce with about 150 examples or so being available within these grades. The premiums are still slightly higher than for rounded struck examples.
MS64: In MS64 grade the 1860 Pointed Bust cents become somewhat scarce with possibly 100 to 150 examples in this grade available. The premiums are now much higher once compared to the old rounded bust design.
MS65: In MS65 they are scarce with possibly less than 50 examples being available in this grade.
MS66: In MS66 grade they are seldom seen with possibly less than 10 examples available in this grade or higher.
MS67: This is the ultimate grade with only one known MS67 graded coin with none being graded higher.
The 1860 Pointed Bust Cent design is a continuation of the same style used in 1859. Later in 1860, the tip of the bust became more rounded in appearance. The total mintage of the 1860 Pointed Bust Cent is unknown, but researcher Rick Snow identified seven different Pointed Bust obverse dies as of 2014 and he estimated that only 5% of the original mintage of 1860 Cents consisted of Pointed Busts. Where this was just an obscure variety decades ago, it is now considered a major part of the Indian Head Cent series.
Mint State Pointed Bust 1860 Cents are readily available in grades from MS63 to MS65. Above MS66, the Pointed Bust 1860 Cent becomes a true, condition-rarity, with only a couple of pieces known in MS67.