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Superbly struck, with every detail sharply delineated. The overall aspect is pleasing,
with mellow yellow gold and brown blended. Indeed, one would have to search intensely to
find a nicer piece at this grade level. Although classified as a Proof, the surfaces are
not particularly mirrorlike but, instead, are lustrous. The difference is perhaps moot,
but worth mentioning. If anything, among Flying Eagle cents of this date the lustrous
examples are preferred. Although the Flying Eagle design in the new copper-nickel format
was not adopted until the Act of February 21, 1857, and thus the 1856 is a pattern, it has
been lovingly adopted into the regular series, listed in the Guide Book and just about
everywhere else, and today stands far and away as the rarest of all major small-cent
types. There simply are not enough to go around, and when a choice one is offered, as
here, there is a lot of excitement. We consider the present piece to be especially
attractive. The fame of the 1856 Flying Eagle cent probably exceeds that of any other
generally available 19th-century coin. Virtually since the year of issue it has been on
the "must have" list of numismatists. It seems that about 800 or so were struck
originally in 1856 and in early 1857, all from 1856 dies, to be sent to newspaper editors
and others of influence, plus distribution to congressmen and other legislators. The
purpose was to introduce the dramatic change in the one-cent piece, long made of copper,
but now of a new design and of smaller size. Harper's Weekly and other periodicals
reprinted news announcements of the new cent, early in 1857, illustrated by the 1856.
Beginning in 1857, and expanding in a great way in 1858 and 1859, numismatics became a
very popular hobby, spurred by the passing of the large copper cent. It was soon found
that while 1857 and 1858 Flying Eagle cents were abundant in circulation, some dated 1856
were made, but could scarcely be found anywhere. Dealers described them as being very
rare. James Ross Snowden stepped into the breach, so to speak, and beginning in spring
1859 caused these and certain other issues to be restruck. How many more were produced is
not known, but an estimate of perhaps 1,500 or so is in order, generating the vast
majority of those in existence today.From ANR's sale of December 2004, Lot 178.
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