After 1865 the number of Indian cents minted dropped significantly as other minor denominations and fractional notes took up the slack. From 1866 to 1878 the only years in which mintage exceeded 10 million were 1868, 1873, 1874 and 1875. For three years (1871, 1872 and 1877) production was less than 5 million, with key date 1877 having only 852,500 coins.
1873 produced another major Indian Head type, the Closed 3. This version of the date, struck early in the year, resembled too closely "1878" as the knobs on the 3 were close together. The revised Open 3 was created by filing away most of the bottom knob. Approximately 20% of the Indian Heads issued in 1873 are the early closed 3 variety, and they are scarce in gem condition. The major double die variety of the series, the Double Liberty (S-1), only appears on the Closed 3 coins (see the Varieties page for more on this coin.)
1865 introduced two obverse types with different date punches, the Plain and Fancy 5. The Plain 5 features a flat knob on the 6 ending to a point, the serifs on the base of the 1 shorter, and a more gently curved top to the 5. The Fancy 5s have a normal knob on the 6, longer 1 serifs, a straighter left side to the upright of the 5, and a top to the 5 featuring a flat 40% and a dipping arc to remaining 60%. Until the late 1990s the marketplace took almost no notice to these date types price wise. Plain 5s are scarcer, particularly in the higher grades. Rare varities exist with the Plain 5 date punched over the Fancy 5.