1858 1c Flying Eagle, Large Letters PR

1858, Large Letters, Cent Production: The high output needed to replace 64 years of large copper cent coinage continued unabated in 1858. The Mint was having problems striking up the coins in the hard copper-nickel alloy. The dies tended to deteriorate more quickly than normal. New, shallower-relief dies were made for both the obverse (Small Letters) and the reverse (Low Leaves) to help extend the die life.

Survivability: Although scarcer today than the 1857 cents, these were distributed much more widely and are found more often in lower grades. At the time of the Civil War coinage shortage (from the summer of 1862 to early 1863), these were largely removed from circulation, only to reappear after the war. Any high-grade examples were probably held back from circulation at this time. By the time of the coinage redemption of the 1870’s most were called in and melted. The remaining pieces are either very worn or in very high grade. Problem-free EF and AU coins are very scarce.

Collecting Challenges: These are a bit scarcer than the 1857 issue, mainly because collectors have divided the issue between the two obverse design types. The optimal collecting grade for this date is MS-64. Coins in this grade are plentiful enough that quality pieces should be sought out.

Few collectors are aware of the reverse design changes made this year to help improve the die life. The type carried over from 1857 is a high-relief design, called High Leaves because the inner leaves are closer to the base of the C and T in CENT. The new lower-relief design, used this year only, is called Low Leaves. (See illustrations on next page.) Both can be found paired with the Large Letters obverse. Coin albums, which have changed little since the 1960’s, do not carry holes for these reverse types mentioned in the Red Book. Collector interest in reverse designs may shift the current lack of demand. If awareness increases, then specialists will need two examples of the 1858 Large Letters cent instead of just one.

Collecting Circulated Pieces: The optimal collecting grade for circulated coins is EF-40. Examples in low grades are plentiful and do not offer the best value because of a low resale percentage. These may be diffcult to find problem free, so a bit of patience is advised. Adventurous collectors may try and acquire both reverse types as well.

Collecting Mint State Pieces: The optimal collecting grade for Mint State coins is MS-64. These are generally more readily available than lower grades as the cheaper pieces are bought up quickly. MS-65 gems are very tough to locate. Some examples come with prooflike fields and are worth a premium.

Collecting Proof Issues: The estimated mintage of 80 reported in the Red Book is a low estimate based on year sets sold that year. The actual mintage is probably 100 or more, as a few extra pieces, probably numbering only 20, were struck for some pattern sets made this year.

The Proofs of this year are usually exceptional with deep mirror fields and outstanding strikes. The 1858 Large Letters Proofs are paired only with the High Leaves reverse.

15315$27$40$55$90$180$350$675$1,250

15317$4,750$6,250$17,000

The major variety of this year is the 1858, 8 Over 7, which is so popular it is given a separate listing in this guide. There is another lesser-known 1858, 8 Over 7, overdate (Snow-7), which is also a doubled die. There are six other obverse doubled dies known, most of which are available for a moderate premium, if found.

Some of the Low Leaf reverse dies are found with minor doubling as well. Two repunched dates are known, one of which (Snow-4) is very wide, and is also a doubled die!

Collectors might not be aware that prior to 1909 all dates were added to coinage dies separately from the rest of the design elements. This is why doubled dies affect the design and letters but not the date, while repunched dates affect only the date.