1856 1C PR65 PCGS. Snow-5....

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Gleaming 1856 Flying Eagle Cent, PR65
Outstanding Quality, Snow-5 Early Strike

1856 1C PR65 PCGS. Snow-5. Gleaming, fully lustrous medium-orange surfaces offer splendid eye appeal on this Gem proof 1856 Flying Eagle cent, a "dream coin" for fans of Flying Eagle and Indian Head cents. The lighter color on the flying eagle on the obverse, as well as on the reverse wreath, lends considerable cameo contrast -- although no Cameo designation is present. For pedigree purposes, we mention a small dark fleck at the rear of the eagle, but it is undistracting and completely in accord with the Gem grade. This meticulously struck proof is certified in a PCGS green-label holder.

Variety: Snow-5. A small die line runs from the lower-left ribbon end on the reverse, and the U in UNITED on the obverse shows a small point at the center bottom.

Population Data (4/14): PCGS has seen 50 submissions in this grade (non-Cameo) with only five finer: four in PR66 and one incredible PR67+. The finest Cameo at PCGS is a PR64. These coins generally lack sufficient contrast for a Cameo -- much less a Deep Cameo -- designation. NGC shows 31 non-Cameo proofs in PR65 with four finer.

Heritage Commentary: Numismatists are divided as to whether some of the 1856 Flying Eagle cents were struck as circulation strikes (Mint State) or as proofs of varying quality. There is more general agreement that the pieces were struck and restruck at varying times. Rick Snow has some interesting things to say regarding the Snow-5 die pairing in the second edition of his series reference:

"This is an unusual die pair that was only first described in 1992 in the first edition of Flying Eagle and Indian Cents. The majority of examples seemed to have come out in the market throughout the 1990s with no proven pedigree to any earlier collections. The overall quality of specimens seen are of an unusually high state of preservation. This leads me to think that the entire striking from this die pair traces its source to a hoard of up to 35 pieces that was kept intact since their striking. No one has yet claimed any first hand knowledge of this hoard, so at this point this is only a theory as to their source.

"Originally these were listed as being struck after the initial striking period. This has proved to be wrong. It is now believed that coins from this die pair are some of the first examples of the 1856 Flying Eagle struck. The revision comes from the discovery that the S2 die pair has a later-state obverse die than is used here. This reverse die (Rev. D) is thought to be one of the two original reverse dies listed as being made in 1856."

Snow's theory would indicate fresh strikes from pristine dies and Flying Eagle cents from this die pair being struck to impress Congressmen of the time with the idea of a smaller cent than the heavy "old coppers" in circulation -- and it certainly helps explain the unusually high quality of this Gem proof example.

Provenance: Lot 44 in an unknown auction (1/1997).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 227A, PCGS# 2037, Greysheet# 15311)

Metal: 88% Copper, 12% Nickel
Weight: 4.67 grams
Weight: 0.14oz

View Certification Details from PCGS