1858 ONE CENT
Mintage:
Circulation strikes: 24,600,000
Proofs: estimated 160-200
Designer: James
Barton Longacre (using Christian Gobrecht's eagle design)
Diameter: ±19
millimeters
Metal content:
Copper - ±88%
Nickel - ±12%
Weight: ±72 grains
(±4.7 grams)
Edge: Plain
Mintmark: None (all
examples of this date and type were struck at Philadelphia, PA)
Notes:
The "Large Letters" designation refers to
lettering on the obverse (see illustrations above). On the
Large Letters variety, the letters A and M of AMERICA touch each
other, whereas on the Small Letters variety, they are clearly
separated. The Flying Eagle Cents of 1856 and 1857 are of the
Large Letters variety. The finest Uncirculated "Large Letters"
example graded by PCGS is a single MS-67. The actual size of the lettering is
clearly smaller on the 1858 Small Letters variety and appears to be
a minor modification of the design type. The finest Uncirculated "Small Letters" examples
graded by PCGS are 5 MS-66's. The finest Uncirculated
"1858/7" examples graded by PCGS are 4 MS-65's.
The original Proof mintage of the Large Letters
variety has been estimated to be around 80 pieces, but PCGS had
graded 34 examples as of their October
2003 Population Report.
By comparison, the 1858 Small Letters Proof has an estimated mintage
of 200 coins and PCGS had graded 46 Proofs as of the October
2003 Population Report. This suggests that the mintage of
the Large Letters Proof has been under-estimated and the correct level
is more likely around 150-200 Proofs. The finest "Large Letters" Proof
example graded by PCGS are 13 PR-65's. The finest "Large Letters"
Proof Cameo examples graded by PCGS are 3 PR-65's. The finest "Small Letters" Proof
example graded by PCGS is a single PR-66.
Sources and/or
recommended reading:
"The PCGS Population Report, October 2003" by The
Professional Coin Grading Service
"Flying
Eagle and Indian Cent Varieties" by Larry R. Steve and Kevin J.
Flynn
|
Images courtesy of Heritage Numismatic
Auctions
Varieties:
Large Letters
(see illustrations below)
Overdate 1858/7
Small Letters (see
illustrations below)
Doubled Die Reverse
Recent appearances:
PCGS graded Proof 65. Ex - Ira & Larry Goldberg Coins & Collectibles,
Inc.'s "Benson Collection, Part I", February 16, 18-20, 2001, lot 1076,
illustrated, where it was described as follows: "Pattern Cent. Small
Letter Flying Eagle. J-193…Oak Wreath with Broad Ornamented shield. A very
attractive example with a deeply mirrored obverse and moderately mirrored
reverse. This is one of the popular 12 piece sets of 1858 pattern cents
which were sold by the Mint. The sets were struck in quantities probably
approaching 75 sets. Many of the surviving examples are dull and lifeless.
This coin is wonderful exception.
The obverse die exhibits a "Broken U" in UNITED, where the inner serif of
the letter is missing. This is a hub variety, which could exist on any
number of dies. Only a very small number of examples of the J-193 were
struck using this obverse die, probably no more than 25. The reverse
features an Oak wreath with a wide ornamented shield.", sold for $3,450.00
PCGS graded Proof 65. Ex -
Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part
I", February 16, 18-20, 2001, lot 1077, illustrated, where it was
described as follows: "Pattern Cent. Large Letter Flying Eagle. J-198…Oak
Wreath with Broad Ornamented shield. The present example is essentially
flawless piece with moderate mirrors. The coin exhibits a light golden
toning. This is probably the finest extant example. Currently there are
only 3 coins graded at this level with none graded higher.
All Large Letter 1858 patterns are much rarer than their Small Letter
counterparts. It is estimated that only 12 to 20 sets were made with this
obverse style. It is probable that the distinction between Large Letter
and Small Letter dies was not deemed important at the time of striking. By
studying the die states of the reverse, we can tell that these were struck
prior to the Small letter patterns. The present example is struck with
early die states of both dies.", sold for $4,140.00
PCGS graded Proof 65. Ex -
Ira & Larry Goldberg Coins & Collectibles, Inc.'s "Benson Collection, Part
I", February 16, 18-20, 2001, lot 1078, illustrated, where it was
described as follows: "Pattern Cent. J-208…Head with broad bust point /
laurel (olive) wreath with 5 leaf clusters. A gorgeous example with deep
mirrors and outstanding eye appeal. Very unusual for this issue, which is
typically seen rather dull with moderate mirrors. This is certainly one of
the most attractive examples of this issue.
This is a popular quasi-transitional pattern with the 1858 date and the
Indian head design first used in 1859. This is, however a slightly
different designs than the adopted design, most notably in the difference
in the bust truncation. The adopted 1859 style has a narrower truncation.
The reverse is also slightly different from that adopted in 1859; with the
adopted version having 6 leaves in the wreath. True transitional 1858
patterns do exist, but they from a very limited striking from 1859 or
later. Because of its popularity at the time of striking, this issue was
struck in much higher numbers than the other 1858 patterns, probably as
many as 300 pieces.", sold for $4,370.00
PCGS MS-64.
American Numismatic Rarities 07/2003:146 |
