1856 Flying Eagle Cent. Snow-9. Proof-64 (NGC).This charming near-Gem combines a vivid rose-brown obverse with a more reserved pale tan reverse. Both sides are equally full in strike with an overall smooth satin texture. A few minor carbon deposits are out of the way at the reverse border, and they are mentioned here solely for accuracy. Snow-9 is the most frequently encountered die marriage of this classic issue, and it accounts for the vast majority of Proofs struck for collectors from 1856-dated dies circa 1859. The exact striking period for these coins is unknown, and production may have begun as early as 1858 and likely continued into 1860. We also do not know how many 1856 Flying Eagle cents were prepared during this later striking period. The coins were not part of a regular issue and, hence, the mintage was not reported by Mint personnel. What we do know for certain is that these later strikings were produced in response to Mint Director James Ross Snowdens desire to cash in on the sharp price increase for 1856 Flying Eagle cents in the contemporary market that followed on the heels of the first regular issue 1857 Flying Eagle cents entering circulation. Now familiar with the nations new small-size cent, Americans began searching in earnest for their 1856-dated predecessors, rumors of which abounded. According to Q. David Bowers (<em>A Guide Book of Flying Eagle and Indian Head Cents</em>, 2006), the 1856 Flying Eagle cent had become so popular that prices soon reached $2 per coin, sparking the nations first coin-collecting boom.Most of the coins that Director Snowden began selling to collectors in 1859 were struck in Proof format, as above, the number extant suggesting a mintage on the order of 1,500 pieces. Interestingly, this newly created supply flooded the market and caused prices to plummet, eventually reaching a low of 25 cents per coin. The Mint clearly overestimated contemporary demand, so much so that prices remained below $2 per coin well into the 1870s (again per Bowers). Today, however, the popularity of the 1856 Flying Eagle cent is as strong as ever, and this lovely Choice Proof is sure to have no difficulty finding its way into an advanced cabinet.
