1886 1C Variety 1, BN XF45BN Certification #18721936, PCGS #2154
In 1886, Mint officials made a change in the obverse hub for the Indian Cent, most evident in the position of the word AMERICA relative to the Indian's head. On Variety 1, the lowest feather points between the I and the C of AMERICA; on Variety 2, the lowest feather points between the C and the final A.
Both varieties are of nearly equal scarcity, but the Variety 2 appears to be slightly more rare. Both varieties are scarce in Gem condition, both are very rare in MS-66, and none have been graded higher by PCGS (as of October 2015).