Dual-graded 1856 Flying Eagle cent capitalizes on widespread demand at $9,200: Market Analysis

In the latest Coin World Market Analysis, coins from the latest Numismatic Auctions LLC sale are profiled
By , Coin World
Published : 08/05/15
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For every massive coin auction presented by one of the major auction firms, there are many smaller auctioneers around the country that also have strong coin sales.

Steven L. Davis’ Michigan firm Numismatic Auctions LLC typically holds two auctions a year, and its latest summer sale took place June 29 in Okemos, Mich. Unlike many auctioneers, Davis offers the majority of his coins uncertified, letting bidders ultimately decide what a coin is worth. His latest auction offered a huge range of U.S. and world material, and literally had something for everyone and nearly every budget.

Here is one of three coins that we took note of. 

The Coin

1856 Flying Eagle cent, AU-50

The Price

$9,200

The Story

Key dates performed strongly in the auction, including two 1856 Flying Eagle cents. The finer of the two was unslabbed, but accompanied by an early ANACS certificate grading the About Uncirculated coin AU-50/50. Before the widespread third-party encapsulation of coins, ANACS employed a dual grade that provided separate numerical grades for both the obverse and reverse.  

The issue, while technically a pattern, is collected with regular-issue coins and has widespread demand from collectors. 

This one was described as potentially struck on a mildly porous planchet with a couple of minor rim flaws, but with very sharp detail remaining and hints of luster in the protected areas. The lot had widespread interest from bidders and sold for $9,200, which is consistent with what nice Extremely Fine 40 to 45 examples have brought at recent auctions.

Keep reading this Market Analysis:

Uncertified 1893-CC Coronet gold double eagle realizes $12,075

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