In a remarkable turn of events, a rare 1856 Flying Eagle Cent was discovered at an antique market and subsequently sold for an impressive $25,000.
This coin, a significant piece of American numismatic history, has garnered attention due to its rarity and the circumstances of its discovery.
Historical Significance of the 1856 Flying Eagle Cent
The 1856 Flying Eagle Cent holds a unique place in U.S. coinage history. Designed by James B. Longacre, it was the first small-sized cent produced by the U.S. Mint, marking a departure from the larger copper cents previously in circulation.
The coin features an eagle in flight on the obverse and a wreath surrounding the denomination on the reverse.
Initially minted as a pattern coin, approximately 1,500 to 2,500 of these cents were produced in 1856.
They were distributed to members of Congress and other officials to demonstrate the proposed new design. Due to their limited mintage and historical importance, these coins are highly sought after by collectors.
Details of the Antique Market Find
The coin in question was discovered by a collector browsing through an antique market. Recognizing its potential value, the collector had the coin authenticated and graded.
It received a Proof 63 (PR63) grade from the Professional Coin Grading Service (PCGS), indicating a well-preserved specimen with minimal imperfections.
The coin also received a Certified Acceptance Corporation (CAC) sticker, signifying that it met high-quality standards for its grade. These certifications significantly enhance a coin’s desirability and market value.
Market Value and Recent Sales
The value of an 1856 Flying Eagle Cent varies based on its condition and rarity. While lower-grade examples can fetch several thousand dollars, higher-grade specimens command significantly higher prices.
| Grade | Estimated Value |
|---|---|
| Good (G) | $8,000 – $10,000 |
| Very Fine (VF) | $15,000 – $20,000 |
| Extremely Fine (XF) | $20,000 – $25,000 |
| Proof 63 (PR63) | $25,000 – $30,000 |
| Proof 67+ (PR67+) | Up to $312,000 |
Notably, a PR67+ graded 1856 Flying Eagle Cent sold for a record $312,000 at a Heritage Auctions event, highlighting the coin’s potential value at the highest grades.
Authentication and Grading Importance
Authentication and grading are crucial in determining a coin’s value. The PCGS and CAC are reputable organizations that assess a coin’s authenticity and condition.
A high-grade coin with certifications from these bodies is more likely to achieve premium prices in the market.
The recently discovered coin’s PR63 grade and CAC approval played a significant role in its $25,000 sale price, reflecting the importance of professional evaluation in numismatics.
The discovery and sale of the 1856 Flying Eagle Cent at an antique market underscore the enduring allure of rare coins.
This event serves as a reminder of the hidden treasures that can be found in unexpected places and the importance of knowledge and vigilance in the world of coin collecting.
FAQs
Why is the 1856 Flying Eagle Cent so valuable?
Its value stems from its historical significance as the first small-sized U.S. cent, limited mintage, and high demand among collectors.
How can I authenticate a rare coin?
Submitting the coin to reputable grading services like PCGS or NGC ensures professional authentication and grading.
Where can I sell a rare coin?
Rare coins can be sold through auctions, coin dealers, or online marketplaces specializing in numismatics.
