1858/7 1C MS65 PCGS CAC PS
1858/7 1C is a key date for the Flying Eagle Cent series. Known in two Snow Varieties, S-1 and S-7, this is the S-7 variety with approximately 25 known in all grades and as Heritage stated best: " Two different 1858/7 obverse dies are known, and they are identified as Fivaz-Stanton 301 and 302 (Snow-1 and Snow-7, respectively). The former(S-1)... is slightly more plentiful than the latter, but both varieties are rare and extremely popular with collectors."
Since 1999, there have been only 7 auction records for 1858/7 1C in GEM or Finer ( 6 of which S-1 and 1 S-7) of which only 2 were CAC both the same coin in NGC MS65+, which are the only closest and most recent comp.
MS65+ NGC CAC 08/21 HA $72,000
MS65 PCGS NON CAC 08/18 SB $40,800
MS65 PCGS NON CAC 06/17 SB $23,500 ( spots)
MS65+ NGC CAC 10/14 HA $74,025
MS65 PCGS NON CAC 04/13 HA $70,500
The present example, one of two and tied for the finest is bold sharply struck with tan orange luster. It is essentially mark-free void of ticks as commonly seen and a CAC POP 1 for S-7, CAC suggests a value of $60,000 whilst PCGS Price Guide $30,000 ( note Greysheet Bid is $36,000 at wholesale NON CAC NON Photo Seal price!) because of an inferior spotted NON-CAC NON-Photo Seal example that sold 5 years ago, whilst the more available S-1 Price Guide $55,000. We believe CAC's value more accurate in this instance as the key to the entire Flying Eagle series, as well as from the CAC MS65+ NGC sale of over $70,000, the more readily available 1858/7. No doubt PCGS Price Guide will eventually get updated.
We are pleased to offer this example for the shrewd collector and investor and believe this should bring $50,000-$70,000 at auction at some time or will likely end in another dealers inventory for such. Beyond the rarity, the coin is exquisite. With endless luster boom over honey yellow gold patina enveloping the coin. The example is fully struck with no spots, marks or hits seen. A spectacular and PQ coin that is a known rarity among Flying Eagle students.
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