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The Flying Eagle Cent of 1858, specifically the Small Letters variety in Fine condition, is a numismatic treasure that reflects a significant chapter in the history of American coinage. Its story, design, minting process, mintage figures, denomination, and current condition all contribute to its allure for collectors and enthusiasts alike.
The history of the Flying Eagle Cent can be traced back to the mid-19th century when the United States was transitioning from large cent coins to a smaller and more economical one-cent denomination. The previous large cent coins were costly to produce and had become cumbersome for everyday transactions. This led to the development of the Flying Eagle Cent, which made its debut in 1857, but it continued to be minted in 1858.
One of the most distinctive aspects of the Flying Eagle Cent is its captivating design. On the obverse side, a majestic bald eagle in flight is depicted with its wings gracefully spread. Clutched in the eagle's talons is a bundle of arrows, symbolizing the nation's readiness for defense. Encircling the eagle is the inscription "UNITED STATES OF AMERICA," which reinforces its national identity. On the reverse side, the coin features a wreath composed of laurel leaves, symbolizing victory and honor. Within this wreath, a central shield is placed, representing the strength and unity of the United States. The denomination "ONE CENT" is prominently displayed inside the wreath, signifying that this coin represents a fraction of a dollar.
For the 1858 Flying Eagle Cent, there are two distinct varieties: Large Letters and Small Letters. The Small Letters variety, as the name suggests, features smaller lettering in the coin's inscription compared to its Large Letters counterpart. The Small Letters variety is rarer and is highly sought after by collectors due to its limited mintage.
The minting process for the Flying Eagle Cent marked a significant advancement in coin production during that era. These coins were struck using a "narrow collar" technique, where the blank planchet was placed within a collar before being struck with the dies. This innovative approach ensured that the resulting coins had consistent dimensions and improved overall production efficiency.
In terms of mintage, the 1858 Flying Eagle Cent was minted at the Philadelphia Mint, and the Small Letters variety had a relatively low total mintage of approximately 24,600,000 pieces. While this figure may seem substantial, it's important to consider that many of these coins have not survived in high grades, making well-preserved examples more coveted by collectors.
The denomination of the Flying Eagle Cent is one cent. In the mid-19th century, a single cent had more purchasing power than it does today, making these coins essential for everyday transactions, commerce, and trade.
Now, assessing the coin's condition, a "Fine" grade indicates that it has experienced wear from circulation but remains in reasonably good condition. While some of its original detail and luster have diminished due to use, it has not suffered from excessive damage or significant flaws. In "Fine" condition, the coin retains its historical significance and collectible appeal.
In summary, the 1858 Flying Eagle Cent with Small Letters in Fine condition represents a fascinating piece of American numismatic history. Its historical context, captivating design, innovative minting process, limited mintage, denomination, and condition all contribute to its enduring popularity among collectors and enthusiasts who appreciate its role in the evolution of U.S. coinage.