I have been reading up some about the year 1857 and the change in cents from large cents to small cents. The large cents had a mintage of around 330,000, but many were not even released and melted down. Going through PCGS Coinfacts, the survival estimate is around 7,000 in both the large and small dates (from the best I could tell). PCGS has graded only about 300 in mint state. This sounds like it would be a very highly collectable coin. I own one with an Eliasberg pedigree, but it's only a VF25. The Flying Eagle was introduced, and had a mintage of over 17,000,000. PCGS says many were saved early on and it's fairly easy to find a mint state example of one. There are about 2,600 graded mint state just by PCGS. While searching prices through completed auctions and on Coinfacts, I was surprised to see that the prices are pretty comparable in equal grades. I figured the large cent would carry a much higher premium due to the very low mintage and survival rate and the FE being much more common. I am still early in my collecting journey, so I need help understanding this. Is this due to the FE maybe being more popular, and therefore carries a premium? Or is there another explanation for it? Just plain ole' higher demand?
Biggest reason I can think is the fe is a 2 year type so you got interest from type collectors plus the fe included in the ihc collection and a lot more collect them then large cents. Me I'll take them big pennies any day!
The simple reason is that there are far more small cent collectors that there are large cent collectors. Supply and demand.
Yes a lot more FE/Indian cent collectors than there are Large cent collectors. Same thing with the 1909 S Indian and the 1909 SVDB. The indian is lower mintage and scarcer, but the SVDB is significantly higher priced. Why? Because there are a lot more Lincoln cent collectors than Indian head cent collectors.
some day I will want a high grade FE. coolest design out there for cents period. large cents are nice but higher grades prices get crazy. for now I will enjoy world coins more.
Thanks, I love them. Too bad they're not 65s but 55 is what my wallet could handle. I do think 55-58 is usually better looking than 60-61 and a much better value.
Me too. Just bought a coin in 55 I'm in love with. Was under $3k. Last 62 sold for $12500 last original 55 sold in 2011. I buy a lot of aus. Often a lot more eye appeal in a 55-58 then anything under a 64
I've been upgrading my braided hair set for the last few months and have been surprised by what is out there at reasonable prices. I've bought all AU or higher for $150 or less each. Of course I'm going after raw coins, but I'm very particular when it comes to strike and condition. They must have full rims and stars and an original look without environmental damage. If you can see all of these things and know how to grade for yourself, you can find some nice coins cheap.
Yea, that was a lucky. I'm still waiting to get it back. Can't wait to crack it out now that I know what it is.
The Flying Eagle was a highly anticipated coin because of the change in size, non-portrait design, and alloy (copper-nickel). It was heavily advertised in the press and by word of mouth, and persons stood in line at the Mint on the initial day of distribution. The initial supply was hoarded by some (with the means to buy a large quantity or trade-in foreign coins [as the government demonitized them in 1857]) and resold at a profit for some weeks to months thereafter. They were struck in enough quantity so that the demand for a circulating small cent was met for the 2-years of circulation coinage production. They remain popular today because they were the first small cent and because many remain in a high state of preservation.
I think its because the Flying Eagle is such a great looking coin. It also has the primary design motif smack in the middle of the highest wear section of the coin, making it attractive only in its very highest grades, as even faint wear is very visible. It is of course, a short series, and lots of type set pressure on those two years.
