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Sale 74
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Lot 2454
1856 Flying Eagle Cent. PCGS graded Proof 64. CAC Approved. Eagle Eye Photo Seal. A well struck proof with a hint of light iridescence. The key Flying Eagle small cent. Only 2,000 minted. A highly attractive Proof 64, tightly buttoned down grade concealing no defects. Reflective surfaces in line with the approach to Gem quality one expects. This combines with finely textured motifs to provide nonstop eye-appeal. The obverse and reverse both are naturally toned. Unquestionably the most famous of all 19th century small cent rarities, certainly a date whose celebrity is generations old within the coin collecting field. Scholarship has for the time being settled the argument as to the number of 1856 flying eagle cents that were made: perhaps 1,500 to 2,500, some in 1856, and others over the course of the next few years to supply those who missed out on the original distribution. The 1856-dated pieces were made to sway congressmen and others of the need for smaller-sized cents to replace the old large cents. In 1857 and 1858, the flying eagles were produced in large numbers for circulation, but those dated 1856 were meant for collectors and others. Above and beyond the raw number of coins produced, this date has always been a heralded as a rare offering in U.S. numismatics. It has been popular for longer than 150 years. Attractive Proofs like the one offered come along in small numbers only in today's active auction venue. We mention that the coin offered here will be met with serious bids, and the outcome will be that appropriate to a near-gem quality example of this legendary rarity. Pop 201; 56 finer (PCGS # 2037) .
Background: In 1856 one master die was made for the Flying Eagle cent (today the letters are called the Style of 1856 letters and, among other characteristics, have a somewhat squared center in the 0 in OF; A and M in AMERICA touch, but the M is slightly higher than the A). This identical master die was used to make all 1856-dated dies and, very early in 1857, to make 1857-dated dies with Style of 1856 letters. In all probability, the letter punches used to make this and other master dies were ordered from a private source outside the Mint.
The government’s imminent approval of a statute to alter the alloy of the Cent in 1856 left Mint Director Snowden pleading for a design to begin trial strikings without delay. The task of achieving a satisfactory product in fell to James Barton Longacre. For the obverse, the artist selected a variant of the flying eagle that adorned the reverse of the 1836-9 Gobrecht Pattern Dollars. Although nearly two decades old, this eagle hadn’t faded into obscurity; it had appeared on several Patterns of 1854-5. The reverse got a copy of the wreath of corn, cotton, maple, and tobacco that already appeared on Longacre's Gold Dollar and $3 Gold pieces. Despite the short production run of this design, the rarity and allure of 1856 Flying Eagle Proof strikings insured that it would remain forever a part of the collecting lore and popularity.
Estimated Value $20,000 - 22,000.
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| Realized $23,000 |
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