U. S. Coins

Affordable and Highly Desirable 1856 Flying Eagle Cent

Lot 1040
1856. PCGS graded Proof 50. The key date to this short-lived series! Lightly toned over clean, crisp surfaces. The coin actually looks much nicer than the grade would indicate. Apart from some trivial friction on the high points, there is a small hit on the ear of corn on the left side of the wreath. Always in strong demand because of its tiny mintage and the all-important date.

The 1856 Flying Eagle was the first design of the Small Cent denomination, an innovative experiment to produce a smaller, less expensive coin than the bulky, costly Large Cents. For the first time, at least as far as coins were concerned, the government was asking the public to accept as money coins that did not contain their full value in metal. The experiment worked and the Small Cent lives on today!
Estimated Value $6,000-6,500.

Popular 1856 Flying Eagle Cent

Lot 1041
1856. PCGS graded Proof 25. Snow-9. This is a very desirable coin in any condition. This coin has seen considerable circulation. There is a scattering of light marks on both sides and a light scratch from the E in STATES to the center of the Eagle's left wing. The coin is toned a chocolate brown color, similar in look to a bronze coin. All in all, this is an attractive coin and will be a fine addition to a circulated set.

The 1856 was not struck for distribution in general circulation. This die pair was undoubtedly struck for sale to the growing number of collectors who were besieging the Mint at the time for a copy of the new nickel cent of 1856. Specimens were initially released through private Government channels to Congress and other notable friends of the Mint. As these started to receive higher and higher offers in the auctions where they appeared, the Mint decided to get in on the deal and started selling additional specimens to collectors. The Snow-9 die pair is identified by the center dot on the reverse just below the upper left serif of the N in CENT.
One has to wonder why any 1856 Flying Eagle cent got into circulation. I suppose that the Mint struck upwards of 1500 specimens for sale to collectors and by the time of the Civil War coinage shortage still had a number, maybe as many as 500, pieces still on hand. Perhaps these were mistakenly dispersed into circulation with any number of other non-circulation strikes, like 1858 pattern cents, by mistake during the war.
Estimated Value $5,500-6,000.