Second of three segments from Steve Roach highlighting Proof coins
from the Kling Family Collection offered in January's FUN auction:
In a general sense, the market has cooled recently for 19th century
Proof type coins, though key issues remain popular with buyers.
Heritage’s Jan. 6 to 11 auctions held during the Florida United
Numismatists show in Tampa included an important collection of these
generally gorgeous and low-mintage coins. The Kling Family Collection
of Proof coins was put together over many years and here are three
coins from that collection that showcase the diversity of the Kling
Collection and the market for 19th century Proof coins.
1858 Flying Eagle cent, Large Letters obverse, Proof 65
The Flying Eagle cent was struck for just
three years, starting with the scarce 1856 pattern and continuing with
more extensive production for circulation in 1857 and 1858. The Kling
Collection’s 1858 Flying Eagle cent graded Proof 65 by Professional
Coin Grading Service sold for $15,275. For reference, at a 2004
Heritage sale it brought $16,675 and in 2010 it realized $16,100.
Of the Large Letters obverse and the High Leaves reverse variety, it
is listed as Snow PR1 in Rick Snow’s catalog on the series and has an
Eagle Eye Photo Seal. Approximately 100 Proof Indian Head, Large
Letters cents were struck, of which Snow estimates around 50 survive today.
A Small Letters obverse also exists for 1858 Flying Eagle cents, and
the next lot was an 1858 Small Letters obverse, Snow PR1, graded Proof
64 by NGC that sold for $6,168.75, a bit less than the $8,625 it sold
for when offered at an October 2011 Heritage auction.
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