1856 1C Flying Eagle S-3 MS(PCGS#391479)

August 2018 ANA U.S. Coins Auction Philadelphia, PA

拍卖行

Stack's Bowers

批号

1062

等级

MS63

价格

213,452

详细说明

Classic 1856 Flying Eagle Cent 1856 Flying Eagle Cent. Snow-3. Repunched 5, High Leaves. MS-63 (PCGS). OGH. A handsome Choice example of this fabled rarity in the United States Mint's small cent series. Striking quality is superior by the standards of this die pair, both sides with razor sharp definition from the rims to the centers. Even the feathers on the eagle's breast are crisply delineated -- a feature seldom seen on 1856 Flying Eagle cents of the Snow-3 variety. Warmly toned in somewhat dusky olive-tan patina, the surfaces are smooth in hand and would likely have secured an even higher grade were it not for slightly subdued luster. A highlight of the ESM Collection that is seemingly earmarked for inclusion in another advanced cabinet. A historically significant issue, the first year Flying Eagle cent was initially prepared as a pattern in late 1856 and early 1857 to illustrate the new small size cent in copper-nickel composition, which was envisioned as a replacement 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 who had become fascinated with the nation's first copper-nickel cent. 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-3 is one of the scarcer die marriages of this issue, Rick Snow (The Flying Eagle & Indian Cent Attribution Guide, 3rd Edition, Volume 1, 2014) estimating that it accounts for only 20% of 1856 Flying Eagle cent extant. The author provides an estimated mintage from these dies of 700 pieces, with approximately 500 coins surviving in all grades. Examples are usually certified as Mint State instead of Proof by the major third party grading services, as here, the strike often weak in the center of the obverse and/or around the reverse periphery and the fields satiny instead of semi-reflective. As previously stated, however, the present example is uncommonly well struck for the variety, most notably on the eagle's breast feathers in the center of the obverse. Arguably the most numismatically desirable of the 1856 Flying Eagle cent die pairings, Snow-3 is believed to be the variety that comprised most or all of the 634 examples that the Mint originally prepared for distribution to Congressional leaders. These coins were meant to help promote passage of the pending coinage bill that would authorize regular issue production of the copper-nickel small cent. (This bill eventually became law as the Act of February 21, 1857.) Rick Snow also believes that the Mint used the Snow-3 dies for a simulated production run for regular issue copper-nickel small cent coinage. Given the circulation strike (as opposed to Proof) qualities of surviving examples, it is likely that all Snow-3 coins were struck at normal speed on a regular production press. Far scarcer than its Snow-9 counterpart -- the die variety used to strike most Proof 1856 Flying Eagle cents for sale to collectors circa 1858 to 1860 -- Snow-3 is also highly desirable as the variety of this issue most closely linked with the adoption of the copper-nickel small cent as a viable replacement for the large copper cent. This is a fully original, aesthetically pleasing example that represents a significant find for the astute bidder. Provenance: From the ESM Collection. PCGS Population: 40; 51 finer (MS-66 finest). PCGS# 2013. NGC ID: B2CX. Click here for certification details from PCGS.