LOT Heritage Rare Coin Galleries  /  2004 June Long Beach Signature Sale #349 - Sessi...  / 

6016

1858[1C] Small Letters PR66 Cameo NGC.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:105.00 USD Estimated At:1.00 - 1,000,000.00 USD
1858[1C] Small Letters PR66 Cameo NGC.
<B>1858<1C> Small Letters PR66 Cameo NGC.</B></I> Low Leaves Reverse. Snow-PR-2. This is one of the finest known examples of this rare issue, and it is also one of the most aesthetically desirable. A stunning specimen, the devices are fully struck up with every feather and wreath element showing razor sharp detail. The fields are virtually flawless and show splendid mirrored reflectivity when held at direct angles. Characteristic striations are also evident when the coin rotates under the light, and they are suggestive of a very early die state. Aside from the outstanding condition of this piece, the eye appeal benefits from beautiful champagne, apricot, and pastel-lilac shadings. A small diagonal abrasion is noted above the 185 of the date, this being mentioned solely for future identification purposes.<BR> The mintage of 200 pieces that many catalogers report for this proof issue seems to be somewhat higher than the actual number of coins produced. A more appropriate estimate would be somewhere in the range of 100 pieces. There is also some confusion surrounding the number of coins extant, particularly because auction records include prooflike business strikes that the mint issued in the 1858 12-piece pattern sets. These coins are still occasionally graded as proofs in error. Richard Snow believes that approximately 75 proof 1858 Small Letters Flying Eagle Cents are extant, a total that makes this issue similar in overall rarity to the proof 1857.<BR> Collectors with enough curiosity to look at the reverses of their coins may discover the changes that the Mint implemented in 1858. At some time early in the year the design was changed in an effort to lower the relief. This would enable the coiner to lessen the striking pressure and extend working die life. The high relief design is called the "High Leaves Reverse" because the leaves inside the wreath at the C and T in CENT are fairly long. This design was in use in 1856, 1857, and early 1858 and may also be called the "Type of 1857." The lower relief design is called "Low Leaves Reverse" with the leaves by the C and T in CENT short and extending just above the base of each letter. This is also referred to as the "Type of 1858."<BR> The proof 1858 Small Letters exists with both the High Leaves and Low Leaves reverses. The presently offered example is an example of the latter variety. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.
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