1856 1C Upright 5, Braided Hair Cent
The 1856 1C Upright 5, BN (Braided Hair Large Cent), is a rare and significant coin in numismatic history, capturing the attention of collectors with its unique characteristics and historical importance. This variety, characterized by an upright "5" in the date, is a variant within the 1856 mintage of large cents, which were among the last of the series before the United States Mint transitioned to smaller-sized cents in 1857.
Minting Details and Mintage:
The 1856 Braided Hair Large Cent was minted at the Philadelphia Mint. This particular variant, the Upright 5, is noted for its distinct numeral styling, which sets it apart from the slanted or italicized "5" varieties. The total mintage for all 1856 Large Cents was approximately 2,690,463, but the Upright 5 is one of the scarcer variants within this total production run.
PCGS Information:
The Professional Coin Grading Service (PCGS) assigns the catalog number 1919 for the 1856 1C Upright 5, BN. PCGS records and attributes this coin, highlighting its rarity and the demand among serious collectors who are keen on acquiring distinct varieties of large cents.
Historical Context:
From a historical perspective, the Braided Hair series of large cents represents the culmination of decades of copper cent production, which began in the late 18th century. The 1856 issue stands out as it approached the end of a numismatic era; by this time, considerations to adopt a smaller and more cost-effective cent were underway. The switch to the Flying Eagle cent in 1857 marked the United States' adaptation to the changing economic and material availability conditions.
Rarity and Market Performance:
The rarity of the 1856 1C Upright 5, BN lies not only in its status as a variant but also in its survival rate, given the switch to smaller cents that made most large cents obsolete and subject to melting or withdrawal. In terms of market performance, these coins have garnered significant interest and value. Auction results indicate a steady appreciation in value over the years. Individual sales suggest that well-preserved examples can achieve impressive prices. While exact figures depend on the coin's condition, provenance, and certification, some high-grade examples have fetched thousands of dollars at prominent auctions. This market demand underscores the coin's sought-after status among seasoned collectors.
Collector Appeal:
Collectors are drawn to the 1856 Upright 5 for its place at the twilight of large cent production and its unique stylistic features. Collecting such varieties offers numismatists a glimpse into the transitional period of U.S. coinage. The allure of this coin is further magnified by its rarity and the historical narrative it carries, reflecting the broader changes in U.S. minting practices during the mid-19th century. In conclusion, the 1856 1C Upright 5, BN represents both a fascinating piece of numismatic history and a valuable asset within a distinguished coin collection. With its limited mintage, historical significance, and appeal to collectors worldwide, it maintains a prominent position in the numismatic community. As the market for rare numismatic pieces continues to evolve, the intrigue surrounding this particular large cent variety endures, maintaining its status as a coveted item for numismatists and investors alike.
