1858 1C Small Letters (Regular Strike)
The 1858 1C Small Letters Flying Eagle Cent is a popular and sought-after coin among numismatists, symbolizing a fascinating era of American minting history. The Flying Eagle Cent was only struck for circulation from 1857 to 1858, making the 1858 1C Small Letters variety particularly significant for collectors.
Minting and Variations:
Struck at the Philadelphia Mint, the 1858 Flying Eagle Cent had two distinct varieties: the Small Letters and the Large Letters. The primary difference lies in the inscription "UNITED STATES OF AMERICA," where the Small Letters variety features finer, less bold lettering compared to the Large Letters variety. The design, created by James B. Longacre, was intended to replace the cumbersome large cent with a more practical smaller version.
Mintage and Rarity:
According to PCGS Coin Facts, the 1858 Small Letters variety had an estimated mintage of 24,600,000 coins, although disentangling the exact figures between Small and Large Letters can be challenging. Despite the significant mintage, the Small Letters variety is considered scarce in higher grades. The PCGS number for this coin is 2020.
Demand and Market Value:
The demand for the 1858 1C Small Letters remains robust, primarily due to its historical significance as part of the short-lived Flying Eagle Cent series. In recent years, well-preserved examples, particularly those in Mint State, have fetched substantial prices at auctions. For instance, an outstanding PCGS-graded MS66 specimen achieved remarkable figures, emphasizing the desirability of high-grade examples in the numismatic community.
Historical Context:
The Flying Eagle Cent marked a shift in U.S. coinage, driven by the need for more practical currency and changes in metal composition. This coin was the first small-sized cent and was composed of a copper-nickel alloy, which gave it a pale appearance, different from its predecessors and successors. However, its production was short-lived due to difficulties in striking the design cleanly and consistently, leading to its replacement by the Indian Head Cent in 1859.
Market Insights from CoinFacts and Auction Data:
Expert analysis from coin platforms highlights that collectors often seek eye appeal, strong strike, and minimal wear when considering this coin. Auction data has shown consistent appreciation over time, with coins in grades XF (Extremely Fine) to MS (Mint State) commanding considerable premiums. Coins in lower grades remain more accessible but are still valued for their historical and aesthetic appeal. In summary, the 1858 1C Small Letters is a numismatic treasure that captures the transition in U.S. coinage practices. Its place in the timeline of American currency, coupled with its distinctive design and scarcity in higher grades, ensures its continued desirability among collectors and investors.
