The 1858 Flying Eagle penny is one of the most sought-after coins among collectors of early American numismatics. Known for its iconic design and its historical significance, the 1858 Flying Eagle penny holds a special place in the evolution of U.S. coinage. Among the different varieties of the 1858 Flying Eagle penny, one particularly notable example is the “Small Letters” variety, which is often referred to in the context of the Lot ELfe example.
The 1858 Flying Eagle Penny
The Flying Eagle penny was the first U.S. coin to feature a small, one-cent denomination in over two decades. Before the Flying Eagle cent, the U.S. Mint had issued large copper cents, which were heavy and unwieldy. These large cents were difficult to carry and were often viewed as impractical in daily use, especially as the economy grew and the demand for smaller, more portable coins increased.
The Small Letters Variety
One of the distinguishing features of the 1858 Flying Eagle penny is the variation in the size of the letters on the reverse side of the coin. There are two main types of the 1858 penny: the “Large Letters” variety and the “Small Letters” variety.
- Large Letters: In this variety, the letters in the word “CENTS” on the reverse are larger and more pronounced.
- Small Letters: In contrast, the Small Letters variety features smaller, more delicate lettering in the word “CENTS”. This distinction is subtle, but collectors recognize it as a key feature for identifying the different types of the 1858 Flying Eagle penny.
The Lot ELfe Connection
The Lot ELfe reference is tied to a specific example of the 1858 Flying Eagle penny Small Letters variety. In the world of coin collecting, the term “Lot” is used to describe a grouping of coins or a single coin being sold at an auction. The Lot ELfe example refers to a specific coin or set of coins that appeared in a famous auction where collectors and investors could acquire rare and unique examples.
Value and Collectability of the 1858 Flying Eagle Penny Small Letters Lot ELfe
The value of an 1858 Flying Eagle penny Small Letters variety, especially one in high-grade condition such as the Lot ELfe example, can vary widely depending on factors such as the coin’s condition, provenance, and market demand.
- Lower Grades: Coins in Good or Fine condition can range from $100 to $300 depending on the specific quality of the coin.
- Higher Grades: Coins in Extremely Fine (EF) or About Uncirculated (AU) grades are much rarer and can fetch $500 to $2,000 at auction.
- Exceptional Examples: The Lot ELfe variety, being an especially high-quality coin, could be worth far more, with prices reaching $5,000 or more, especially if it has been certified by a professional grading service and has a well-documented provenance.
Conclusion
The 1858 Flying Eagle penny, particularly in the Small Letters variety, is a valuable and significant coin in the history of U.S. coinage. Its design marked a turning point in the development of smaller, more convenient coins that would become the standard for future U.S. currency. The Lot ELfe example, with its high-grade condition and rarity, is a prime example of why the 1858 Flying Eagle penny remains one of the most coveted coins in the world of numismatics. Whether you are a seasoned collector or a newcomer to the hobby, owning a piece of this coinage history is a remarkable achievement and a prized possession.
FAQs
1. What is the difference between the Large Letters and Small Letters varieties of the 1858 Flying Eagle Penny?
The Small Letters variety has smaller, more delicate lettering in the word “CENTS” on the reverse, while the Large Letters variety features larger, more pronounced letters. The Small Letters variety is rarer and more valuable.
2. Why is the Lot ELfe example of the 1858 Flying Eagle Penny so famous?
The Lot ELfe example is known for its exceptional quality and high-grade condition, making it a standout piece in the world of numismatics. It also has a notable provenance, which increases its appeal and value among collectors.
3. How much is an 1858 Flying Eagle Penny worth?
The value of an 1858 Flying Eagle Penny varies based on condition and variety. A Small Letters coin in high-grade condition can be worth thousands of dollars, while lower-grade examples may be worth a few hundred dollars.