Lot 1163
1856 Flying Eagle Cent. MS-63. The key date of the Flying Eagle series, this important coin has a mintage estimated at just 1,500 pieces. Some were struck in Proof, others as regular mint issues with typical uncirculated surfaces as offered here. Well struck, including the tiny feathers on the eagle's breast and wing tips. We note one minor edge mark near the left cotton leaf on the reverse. Choice medium brown in color.
By 1851 the Mint was faced again with the problem that cents cost more to produce than face value. Calculations were made that production costs were then $1.06 per hundred. Furthermore, the public was tired of the large cents, they often circulated at a discount to silver and gold coins, and merchants quoted two different prices for merchandise depending on what coins were being used for the purchase, less for copper, more for silver or gold. In order to relieve the problem, these small copper-nickel cents were produced at a much lower cost. The proved immediately popular with merchants and collectors alike. One of the most desirable small cents, and always in feverish demand.
Estimated Value $5,000 - 6,500.
From the Howard R. Newcomb collection of Indian Cents, purchased June 30, 1944 from J.G. Macallister.
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| Realized $7,188 |
