1858 Flying Eagle Cent. Snow-PR1. Small Letters, High Leaves Reverse (Style of 1857), Type I. Proof-64 (PCGS).This near-Gem Proof cent is one of only a handful of survivors from the Snow-PR1 die marriage of the 1858 Small Letters cent, an issue that is also rare in an absolute sense. This is a beautiful specimen, with blushes of powder blue iridescence over orange-apricot surfaces on both sides. The fields are highly reflective and the devices have a more satin texture that provides nearly enough contrast to support a Cameo designation. The strike is razor sharp and the visual appeal is outstanding.Although the Small Letters variant of the 1858 Flying Eagle cent is most readily attributable by the separation between the bases of the letters AM in AMERICA, the entire design is actually in lower relief than its 1858 Large Letters counterpart. This modification could have been carried out by Engraver James Barton Longacre or Assistant Engraver Anthony C. Paquet; Rick Snow (2014) favors the latter. The lettering in the legend UNITED STATES OF AMERICA on Small Letters examples matches the style seen on the 1859 James Ross Snowden Mint medal prepared by Paquet.Proof 1858 Small Letters cents are underrated rarities, especially when compared to the more highly publicized Proof 1856 Flying Eagle cents. Whereas restrikes from the 1858 to 1860 era swelled the total number of Proof 1856 small cents produced to approximately 1,500, the Proof 1858 Small Letters has a mintage that Snow estimates at just 120 pieces. Survivors are elusive and market appearances are usually few and far between.Both Snow and Bowers suggest that the Mint may have initially prepared the Small Letters variety as a pattern, placing it into regular issue production alongside its Large Letters counterpart after the modified design was found acceptable. Snow has identified four die marriages of the Proof 1858 Small Letters cent, and he has also assigned the PR1 variety an alternate attribution of PT10 in deference to the issues possible status as a pattern. Of this variety the author also states, These could have been issued in very limited quantities to persons requesting proof year sets prior to the issuance of the pattern sets. With only 10 to 20 specimens believed extant, Snow-P1 is one of the rarer varieties of the Proof 1858 Small Letters cent, the issue itself a notable rarity with an estimated mintage of just 120 coins from all die pairings. As one of the most significant Proof Flying Eagle cents of any date or variety that we have brought to auction in recent years, here is an important opportunity for advanced collectors.From the ESM Collection.
