In 1864, the front (obverse) of the Indian Head Cent was redesigned near the end of the year. The portrait was sharpened somewhat and a very small letter "L", for the designer James Longacre was added on the lower ribbon behind the neck. The easiest way to locate the "L" is to look to the immediate left of the last feather in the headdress, the letter is turned sideways the bottom part of the L is pointing down. If the coin is turned slightly (so Indian faces observer) the highlighted details of the L will appear to better advantage. Another way to identify this variety is that the tip of the bust is pointed on the coins with the L. The vast majority of 1864 Indian Head Cents were made before this change was instituted, so the ones with the "L" are extremely rare. We have been fortunate enough to acquire one of these rare coins, which grades in fine condition. The book value of this coin is $160.00, but since we like to pass on savings we receive to customers, we are pricing this coin at just $139.99. A picture from the Red Book Guide is shown for use in locating the L, it is quite small and hard to see if you don't know what you're looking for. The purchaser will receive the exact item pictured. No discount promotions or coupons apply to this item. We only have one of these available, so please don't order more than one.