1856 1C Flying Eagle PR (PCGS#2037)
March 2020 Baltimore U.S. Coins Auction
- 拍卖行
- Stack's Bowers
- 批号
- 3103
- 等级
- PR63
- 价格
- 85,169
- 详细说明
- Choice Proof 1856 Flying Eagle Cent
Snow-9 Variety
1856 Flying Eagle Cent. Snow-9. Proof-63 (NGC).
Sharply defined with incredibly satiny devices and faint prooflike reflectivity in the fields. The surfaces show even golden-tan patina with traces of coppery iridescence under direct lighting. A snaking flaw in the planchet can be seen in the upper obverse field, meandering from 11 o'clock to the 2 o'clock rim though the legends. Minor hairlines are seen under a glass on the obverse, but the eye appeal remains quite attractive.
The 1856 Flying Eagle cent was first prepared as a pattern in late 1856 and early 1857 to illustrate the new small size cent in copper-nickel composition. These coins were envisioned as replacements for the costly (to produce) large copper cents first struck in 1793. Later in 1857, and continuing through at least early 1860, the Mint struck additional examples. The later strikings were initially meant for distribution to Congressional leaders, Mint personnel and others in government posts, but by 1859, if not late 1858, Mint Director Colonel James Ross Snowden was striking 1856 Flying Eagle cents expressly for distribution to contemporary collectors. According to Rick Snow (A Guide Book of Flying Eagle and Indian Head Cents, 2006), the 1856 Flying Eagle cent had become so popular during the late 1850s that prices soon reached $2 per coin, sparking the nation's first coin collecting boom.
Snow-9 is the most frequently encountered die marriage of this classic issue, accounting for the vast majority of Proofs struck for collectors from 1856-dated dies circa 1859. The exact striking period for these coins is unknown, and production may have begun as early as 1858 and likely continued into 1860. We also do not know how many 1856 Flying Eagle cents were prepared during this later striking period. The coins were not part of a regular issue and the mintage was not reported by Mint personnel.
Most of the coins that Director Snowden began selling to collectors in 1859 were struck in Proof format and the number extant suggests a mintage on the order of 1,500 pieces. Interestingly, this newly created supply flooded the market and caused prices to plummet, eventually reaching a low of 25 cents per coin. Prices remained below $2 per coin well into the 1870s (again per Snow). Today, however, the popularity of the 1856 Flying Eagle cent is very strong and this lovely near-Gem would serve as a highlight in any cabinet.
PCGS# 2037. NGC ID: 227A.
Click here for certification details from NGC.
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