1858 Flying Eagle Cent

[Anubis63]

I have posted a few times on this board and haven't left anything of feedback because I'm really only learning seriously for the first time. I had made some purchases before presenting them to all of you and felt slighted at the reply's but I'm past that now and hope I've learned more seance then. At first I thought that the only reputable sources of coin value where the Red Book, Grey Sheet and local dealers when I was informed of Auction prices. After some study and thinking I realize that auctions are the best way to go as they show what people are willing and not willing to pay for a coin. This, however, does not leave me feeling that I am now an expert in coin grading as a matter of fact I hope I don't make a fool of myself in this post. The next coin I'm considering to purchase is a 1858 Flying Eagle cent. I have seen from PCGS Auction Prices that the "Weak MS" 1858 Flying Eagle sold for $376.00 and the rest sold for way over $1000.00 (please tell me if I'm way off on this) so I am bringing to your attention a 1858 Flying Eagle cent I plan to purchase after more study and reading of your responses. The last time I tried to upload a pic. it only showed the file name not the pic. so I hope they come through this time if not forgive me. There are quite a few possibilities for this coin but I'm sure it doesn't fall under the heading of "Weak MS" so if the images come through, I am welcome to all feedback. Feedback is welcome even if they don't so here it goes. I'm using Firefox so if this does not come through I will try IE Edge.

 

[Anubis63]

Great it worked!! Please any healpful feedback. Thanks.

[MarkFeld]

The coin looks AU, possibly uncirculated. But the color leads me to believe it's been lightly cleaned. I would not recommend it.

 

 

[physics-fan3.14]

The coin looks AU, possibly uncirculated. But the color leads me to believe it's been lightly cleaned. I would not recommend it.

 

 

Precisely my thoughts. I lean a bit more towards it being AU than UNC, however.

 

Anubis - since you are just starting out, and you admit that you aren't familiar with all the subtleties of grading yet, I highly recommend that you stick to PCGS or NGC certified only coins for now. Do not buy raw coins until you are comfortable grading, and understand the wide gamut of potential surface problems.

[BillJones]

I am not sure why you are buying raw coins, especially from a picture. A great many of the better coins have certified, and sometimes the lack of certification is an indication of a problem. My advice to collectors is buy the coin in the holder you want. Don't buy raw coins with the expectation that you will get the grade you want.

 

To me the picture looks to be a bit overexposed. That makes it had to determine the toning and surfaces on the piece that might indicate a light cleaning. The spot on the eagle's breast might be a rub spot, or less likely a less than perfect strike.

 

I have seen some nice looking Flying Eagle Cents in MS-63 holders for a bit over $1,000. I'm not sure what you are going to get for $376, but I'd willing to bet it won't be a no problem Mint State piece.

[thebeav]

The coin that you picture may very well be only an AU piece. It may even possibly be cleaned.

I've always felt that there is no such thing as a 'bad' coin, only a bad price. What are you expected to pay for what we see ?

 

Paul

[Anubis63]

I would like to say that, first of all, I have been listening to you as, unlike the last two raw coins, I have not purchased this one yet, but, if I did he asks $650.00. I figured I might get feedback such as this so I picked out an 1890 S Morgan NGC MS64 just in case I did. The reason I would put $650.00 into a raw coin is because I don't know if I would ever be able to afford a coin like this again and with this one I can make payments, however, I guess it comes down to, can I afford to pay TO much for one but I really love the Flying Eagles. So, for now, I will go with the Morgan seen below. BTW the person I would have purchased the Eagle from even suggests buying coins that are already graded, also, he is selling the Morgan for $350.00. Sorry for the glare on this one.Thanks for your help all.

 

[Anubis63]

The spot on the eagle's breast might be a rub spot, or less likely a less than perfect strike.

 

I see the spot you're talking about.

[MarkFeld]

I would like to say that, first of all, I have been listening to you as, unlike the last two raw coins, I have not purchased this one yet, but, if I did he asks $650.00. I figured I might get feedback such as this so I picked out an 1890 S Morgan NGC MS64 just in case I did. The reason I would put $650.00 into a raw coin is because I don't know if I would ever be able to afford a coin like this again and with this one I can make payments, however, I guess it comes down to, can I afford to pay TO much for one but I really love the Flying Eagles. So, for now, I will go with the Morgan seen below. BTW the person I would have purchased the Eagle from even suggests buying coins that are already graded, also, he is selling the Morgan for $350.00. Sorry for the glare on this one.Thanks for your help all.

 

 

Save your money and do some research. A quick auction archives search showed me that some NGC and PCGS MS64 1890-S dollars have sold for less than $250 recently.

[david3142]

What are your collecting goals? These coins seem to be chosen at random. Also, if you need to buy on a payment plan you are very likely spending too much, especially early in your collecting. Think about what your budget is and what coins you like. Perhaps you want a box of 20 instead of a set. I think you'll get more out of your collection (and you'll certainly be more selective) if you know what you want in advance.

[BillJones]

Here are two Mint State Flying Eagle Cents you can use to compare with whatever you would like to buy.

 

NGC graded this one MS-64.

 

 

PCGS graded this one MS-65.

 

[Anubis63]

I actually don't have any particular collecting plan right now I love coins and I like having history in my hand so yes my purchases are random I only like US coins so my collection is anywhere from Colonials to older silver dollars. I also have not purchased the Morgan yet because I have not had enough time to study it. How many auctions should I use as a resource and which ones are good reputable ones? Going back to collecting goals I do plan on putting together sets of Morgan and Peace dollars eventually. All of you are very experienced collectors so please forgive my ignorance I feel like I'm wasting your time with my posts but your feedback is valuable and after reading all of your reply's you have got me thinking but if you are frustrated with me let me know and I will stop.it's just hard for me to know where to go to get answers.

[BillJones]

My best advice to you is to go to the shows and look at as many coins as you can. You might also consider joining a local club. If you are lucky you will run into dealers and collectors who will be willing to help you. Guide books are valuable, but they can only take you so far.

 

I have been a collector for 57 years. I learned by reading books and articles, looking at a lot of coins, receiving help from friendly dealers and other collectors and getting lessons from the school of hard knocks. This is not a hobby for the ignorant or the unobservant if you are going to collect coins of substance, which seems to be your goal. Help from those who are knowledgeable is one of the best ways to avoid the pitfalls.

 

I share your interest in coins with a good story. You can share some of those stories with me if you take a look at my registry type sets. If you have any questions, please pose them here. There are plenty of people here who are willing to help you who have a great deal of knowledge. We don't all agree on every issue, but there is a world of experience here that you can tap.

 

[Anubis63]

BillJones and the rest of you I want to say thank you very much I am very excited to being able to ask you all about what I'm considering. Thanks so much for the advice on where to start and how. This means a whole lot to me. So I will do as you suggest. I am very happy and excited by your advice I feel I have a foothold instead of falling not knowing what to do. I will keep my questions to a minimum and not post until I have done as you all say.

[RWB]

Welcome! This letter regarding an 1858 cent might be of interest to the OP:

 

Des Plains, Illinois

April 20, 1897

 

Dear Sir:

 

I have in my possession an Eagle penny date 1858, but minted from copper, like an ordinary cent, and not from white nickel. This, and one other, are the only specimens of their kind that I have seen, and I would ask you to kindly inform me whether the issue was a regular one, and whether there is any special value attached to it outside of its intrinsic value.

 

As I did not known where else to apply for this information, I trust that you will excuse the liberty I have taken and that you will favor me with an answer.

 

Yours truly,

A. C. Kayser

 

[Conder101]

Even 108 years ago collectors thought they had something valuable when they found a discolored coin. Today it is the "all copper" clad coins that are just environmentally damaged.

[WoodenJefferson]

You can just add a bit more copper

 

[physics-fan3.14]

You can just add a bit more copper

 

I think they sell that product in stores. It goes by the brand-name "Coppertone"