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 Replies: 8 / Views: 2,628 |
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Pillar of the Community
United States
3843 Posts |
The Flying Eagle cent is a great iconic design that is very popular with coin collectors, however how much of the lofty price tag of higher grade examples (XF & up) can be attributed to the fact that any collector working on a type set needs at least one example? Flying Eagle mintages in 1857 were 17,450,000 and in the following year, 1858 were 24,600,000. Hardly low mintage coins compared to some of the earlier Indian Head cent years. Yet Flying Eagles enjoy much higher prices given despite their higher mintages. Is the difference in the price attributable more to the popularity of the design or the need for an example by type set collectors? Edited by Joe2007
03/21/2016 11:53 pm
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Pillar of the Community
United States
711 Posts |
Great topic.
I think it is the type coin appeal more so than anything.
Like you said, every type collector needs one and with so few options in the series they all have demand.
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Pillar of the Community
United States
1499 Posts |
It is a two year type really, since the 1856 is so expensive. For that reason the overall mintage is not high for a type coin.
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Pillar of the Community
 United States
4591 Posts |
When the Flying Eagles were issued there was a tremendous demand from the public for the new small cent. There are articles about lines at the Philadelphia mint to exchange coins, banks couldn't keep them in in stock, etc. So a lot of them were saved in mint condition. For example,PCGS has almost 10k graded, with the most common grades being 64, 63 then VF. NGC has 8300+, 64, VF, 63. Which I think shows that a lot were then saved from circulation too - probably at the time the Indian Head cents were introduced and people realize the flying eagle was somehow going to be special. Once the initial demand was filled they became one of the workhorses of the economy. The huge mintages show that. Finally during the war, the last coins that disappeared were the small coppers, with the Patriotic tokens and store cards filling that gap. And when coins came out of hordes in the late 1860's, the flying eagles could have been saved as reminders of happier times. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
5825 Posts |
Quote:Flying Eagle mintages in 1857 were 17,450,000 and in the following year, 1858 were 24,600,000. Hardly low mintage coins compared to some of the earlier Indian Head cent years. Yet Flying Eagles enjoy much higher prices given despite their higher mintages. Remember, it's NOT how many were struck; it's how many still exist. |
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Pillar of the Community
United States
716 Posts |
I think another big factor is that many FE's have condition issues. Mint state FE's can vary greatly in quality. Many were poorly struck or suffer from poor luster due to cleaning or just environmental conditions. So those high grade examples that have lots of luster and are fully struck are at a minimum. These coins, because of their relative rarity, can command a higher premium and the number minted has really very little to do with it.
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Pillar of the Community
United States
1499 Posts |
Quote:
Mint state FE's can vary greatly in quality. Many were poorly struck or suffer from poor luster due to cleaning or just environmental conditions. So those high grade examples that have lots of luster and are fully struck are at a minimum. Most of them do not look as good as these two examples.     The strike and the luster are big issues with these coins. |
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Pillar of the Community
United States
1316 Posts |
Any topic that results in the posting of lustrous Flying Eagles gets a  from me! What a beautiful design. Being that it is one of the most beautiful American coins and its only a two year type and the issues that come with minting new types, it was destined to have a premium price. As US coins go, these are one of the few I feel actually justify the inflated values that the eye candy coins bring. |
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Bedrock of the Community
United States
94367 Posts |
billjones - thanks, super examples, like all of your coins.
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Replies: 8 / Views: 2,628 |
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Posted 03/22/2016 08:32 am
