1857 1C Flying Eagle PR(PCGS#2040)

June 2021 U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

1293

Grade

PR64

Price

7,500

Lot Description

1857 Flying Eagle Cent. Snow-PR2. Proof-64 (NGC). Impressive Choice quality for this rare entry in the brief and challenging Proof Flying Eagle cent series of 1856 to 1858. Semi-reflective fields support fully impressed, satiny design elements. Both sides are further adorned with vivid tan-apricot patina, direct lighting calling forth delicate lilac-pink undertones that are more pronounced on the reverse. Solidly graded at the Proof-64 level, and sure to have no difficulty finding its way into an advanced numismatic cabinet. The second year 1857 Flying Eagle cent is a rarity in Proof, certainly multiple times more rare than the more widely known 1856 Flying Eagle cent. The date has an estimated Proof mintage of just 50 pieces with perhaps as few as 20 to 30 actually known today. Indeed, the Bowers reference on the series notes: True Proofs are very rare, more so than generally realized. Walter Breen, Encyclopedia of Proof Coins, pg. 104, states most were made in May 1857 from a die with file marks over NI of UNITED, one file mark joining left upright of N to rim. All known 1857 Proofs are of the Style of 1857 Lettering. These were probably released to collectors on or after May 25, 1857 (the day that circulation strikes were first distributed to the eager public)....it may be that fewer than 20 to 30 true Proofs are known of this date, and estimates range as low as 10 to 20. The die marriage described by Breen, quoted by Bowers, is now known as Snow-PR1. The present Snow-PR2 specimen offers an even rarer opportunity for Flying Eagle cent specialists. NGC Census: 16; 8 finer in this category (Proof-66 * finest). PCGS# 2040. NGC ID: 227B. Click here for certification details from NGC.