Don't want to make anther mistake.

[Anubis63]

Hi, most of you know how green I am so I appeal to Mark, Paul and any others I've missed, sorry, I really want to buy a Flying Eagle more reare Cent unlike the one I uploaded at a very high price. I will be putting about $400.00 a month aside for this purchase. I want a higher grade but a lower price and you are the only ones I know to ask. Will any of you give me some examples?

[Anubis63]

BTW, I want key dates not just, for a lack of better words, a common Cent.

[MarkFeld]

You stated that you will be "putting about $400 a month aside". Is that for one coin per month or are you OK saving up for one coin for two or more months? Do you have particular grade ranges that you want to stick with? And what series are you interested in?

 

Your posts are too vague for anyone to provide much help.

[physics-fan3.14]

Well, I appreciate that you are asking for advice in advance

 

Do you have an idea what grade range you are looking for?

 

An MS-63 coin will generally go for around a thousand bucks - about 3 months in your timeframe. A 64 coin will generally go for around $1500, about 4-5 months in your timeframe. A 65 will generally go for around $4k-$4.5k. Based on this big jump, a 64 is your optimal price/quality point.

 

In the Flying Eagle Cents, there are 2 dates, one with 2 major varieties. So, you have the 1857, 1858 Large Letters, and 1858 Small Letters. The 1857 is by far the more common, and will thus have the lower average price, 58 SL is the scarcer (still quite common in 64, though). (The 1856 Flying Eagle is a pattern coin, made in a small quantity, and extremely expensive - although most collectors consider it vital for a "complete" set). The flying eagle series is quite short, so there isn't really a "key" - unless you count the extremely expensive 1856.

 

I highly recommend that you place a strong emphasis on originality and eye appeal. If you have questions, or want to run potential purchases past us, we are willing to give you opinions (if you want to avoid other people bidding on coins you are interested in, you can send me a private message).

 

I also *highly* recommend that you stick to NGC or PCGS graded coins, for now. These coins will be accurately graded, and you'll avoid most major surface problems.

 

Most of my high end coins have been purchased from Heritage. They run auctions quite frequently, and generally have a large selection of fantastic coins. You can see their current auctions here: https://coins.ha.com/c/search-results.zx?Ne=16&N=51+793+794+791+1577+792+326+71+72&ic4=Refine-CoinGrade-102615

[nk1nk]

im often critical of members on these boards and the way they sometimes reply to new posters so on the flip side I thought I should speak up when the opposite happens. That is great advice from Jason and very thoughtful to put that much time and effort into a reply. Great post Physics!

[Anubis63]

You stated that you will be "putting about $400 a month aside". Is that for one coin per month or are you OK saving up for one coin for two or more months? Do you have particular grade ranges that you want to stick with? And what series are you interested in?

 

Your posts are too vague for anyone to provide much help.

 

I would save for about two months making that $800.00 to spend then. I like coins no less thanb MS63 but even that's a little low 64s and 65s much more preferred. I have to admit I'm not quite sure what you mean by "Series" but for now my purchases are random.

[Anubis63]

im often critical of members on these boards and the way they sometimes reply to new posters so on the flip side I thought I should speak up when the opposite happens. That is great advice from Jason and very thoughtful to put that much time and effort into a reply. Great post Physics!

 

I completely agree. Thanks Jason.

[Anubis63]

I know, that's one of my problems.

[drwstr123]

Visit some online sites and see what the trend is.

Do some reading on the subject.

The more knowledge...the better the decision.

[physics-fan3.14]

You stated that you will be "putting about $400 a month aside". Is that for one coin per month or are you OK saving up for one coin for two or more months? Do you have particular grade ranges that you want to stick with? And what series are you interested in?

 

Your posts are too vague for anyone to provide much help.

 

I would save for about two months making that $800.00 to spend then. I like coins no less than MS63 but even that's a little low 64s and 65s much more preferred. I have to admit I'm not quite sure what you mean by "Series" but for now my purchases are random.

 

A "series" is a design type produced over a number of years. So, for example, the Flying Eagle cent was produced from 1856 -1858. The Flying Eagle "series" refers to this entire run of flying ealge cens. The Indian Cent "series" refers to the run from 1859 - 1909.

 

There are a number of threads on this forum about the best ways to approach collecting - several by Mark Feld himself. Mark is extremely knowledgeable, and extremely experienced.

 

Besides the advice of this forum, I would highly suggest a few introductory books. The "Red Book" by R.S. Yeoman will give you basic information and mintages of all US coinage. If you don't have a copy yet, I highly suggest you get a copy. Next, I suggest you purchase a copy of the ANA grading standards: this book gives you a basic idea of how to grade each series of US coins. I also recommend Scott Traver's "Coin Collectors Survival Manual." This was one of the first books I read about the hobby, and was increbily valuable in giving me perspective and understanding of the hobby. Finally, I recommend you buy a copy of my book, "The Art and Science of Grading Coins" (available on Amazon.) Many books mention luster, wear, strike, and surface preservation as aspects of coin grading, but my book details how each affects a grade, and how to understand what's going on. These books will give you a great foundation of the fundamentals of the hobby, and allow you to make informed decisions in the future.

 

im often critical of members on these boards and the way they sometimes reply to new posters so on the flip side I thought I should speak up when the opposite happens. That is great advice from Jason and very thoughtful to put that much time and effort into a reply. Great post Physics!

 

Thanks

[Anubis63]

I, again, want to thank you all for your informative advice and to help me by taking the time to get the best for my money. There where a couple people that said for now I should only get PCGS and NGC already certified and slabbed coins. Thanks again.

[BillJones]

I would save for about two months making that $800.00 to spend then. I like coins no less thanb MS63 but even that's a little low 64s and 65s much more preferred. I have to admit I'm not quite sure what you mean by "Series" but for now my purchases are random.

 

If I am reading what you want correctly, I think that MS-63 would be the minimum grade that would satisfy you. I know this sounds confusing, but there are nice MS-63 graded Flying Eagle Cents and not so nice MS-63 Flying Eagle Cents. The really nice ones might cost you $200 or $300 more, but it might be worth your while to buy one of those. The trouble is they are not easy to find.

 

I have a dealer friend who buys coins for other dealers. He goes to the major shows and buys coins for them and sell them to these dealer who retail them to collectors. At the last FUN show he had two PCGS graded MS-63 Flyers that he had bought off the floor. Both of them had grear luster and were really nice for the grade. I was a bit surprised when he told me he had paid what some people would view as a retail price for them, $1,200 to $1,300. He assured me that his buyers would pay him a profit.

 

Buying a nice Flying Eagle is challenging even for those of us who have been at this for many years. It might not be the first coin you would want to tackle. But since this is the coin you really want, here's a few tips.

 

• Buy coin that does not have ugly spots or a lot of hairlines, which might indicate a cleaning.

 

• Look for a piece that well struck with lots of good detail. Many Flyers were weakly struck because the design did not always flow well into the dies. That's why it was replaced after only three years.

 

• Buy a coin that is certified by NGC or PCGS. Don't fool with the off brands.

 

• Don't be afraid to pay a couple hundred dollars extra for the right coin.

 

Good luck in your search. I don't know what venues you are using in your search. The Internet avoids travel, but you can't see the coins in person. Shows are good, but a new collector like you can get overwhelmed.

 

You strategy of saving a fixed amount of money every month and saving for the right coin is a good one. That's what I did back in the 1970s and '80s when I was building my collection.

 

Here is the highest grade Flying Eagle Cent that is in my collection, a PCGS MS-65. Some people might not like this piece because it has even grayish brown toning. There are no breaks in the luster, it has very marks and it is fully struck. If you could find an MS-64 graded that looks similar to this, you will have done well. Most MS-63 graded pieces have a spot that I don't like or some other similar defect.

 

 

 

[Anubis63]

If I am reading what you want correctly, I think that MS-63 would be the minimum grade that would satisfy you. I know this sounds confusing, but there are nice MS-63 graded Flying Eagle Cents and not so nice MS-63 Flying Eagle Cents. The really nice ones might cost you $200 or $300 more, but it might be worth your while to buy one of those. The trouble is they are not easy to find....

 

Buying a nice Flying Eagle is challenging even for those of us who have been at this for many years. It might not be the first coin you would want to tackle.

 

Wow I had no idea this coin was only minted for 3 years and after reading your reply it sounds a little intimidating but I really love that coin. There is a coin show twice a year only 3 minutes from my house and I think you may be right in that I could be overwhelmed but I have to start somewhere don't I? Thanks so much for your input.

[Mr.Mcknowitall]

Thank you for your service.

[Nutmeg Coin]

Or you could look for a high end borderline AU/BU.

 

I sold this one for around $300.

 

http://i.imgur.com/QLseFWI.jpg http://i.imgur.com/egp91AK.jpg

http://i.imgur.com/cl3Cvxg.jpg

[Mr.Mcknowitall]

I think that is very sound advice. It is what I would do at this stage of the collecting experience. A very reasonable approach.

[orifdoc]

 

For a point of reference, this one lives in a PCGS holder and is graded MS63. It has a bit of toning, which I like (not everyone does) and pretty nice luster for a 63. I bought it from Rick Snow (Eagle Eye Rare Coin), who specializes in Flying Eagle and Indian Cents. I didn't look closely, but there are currently 30 or so flying eagle coins listed on his site. He sells several rare varieties (certain die pairs are especially sought after by collectors) but also has regular coins too. Charmy Harker (the Penny Lady) also usually carries a selection of these. I'm sure there are many other fine dealers with FE cents on their websites, but these two came to mind.

 

If I was looking for a nice coin and wasn't terribly knowledgeable about the series, I'd strongly consider working with a dealer. Yes, it might cost a bit more, but if you work with the right ones you will end up with a nicer coin. At the largest shows with hundreds of dealers there might be a handful of Flying Eagle coins in your price/grade range that I would consider nice. It would be a small miracle if something of quality showed up a small, regional show or in the inventory of your local coin shop. A really nice coin in an MS63 holder and a so-so coin in an MS63 holder can be miles apart in quality, at least as far as I'm concerned.

[Conder101]

Wow I had no idea this coin was only minted for 3 years

Actually just two years. (but the 1858 comes in two major varities, large and small letters.) The 1856 is actually a pattern. The design wasn't adopted until Feb 1857. Some people consider the 1856 to be part of the set, some don't.

[RWB]

Lots of great information here.

 

Be sure to examine any coin for its details....there are many inferior MS-63 coins with incomplete or weak detail. The nice pieces, with nearly full detail, don't cost a lot more.