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Be Wary of Fake/weak variety 1858/7 Flying Eagle Cents
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
A "Real" 1858/7 Flying Eagle cent MUST state STRONG on the holder
This is the ONLY variety that is worth a premium over a regular 1858
PCGS calls the weak variety FS 301 but does not state "weak" on the holder
This coin is worth no more than a regular 1858 cent
I have seen a recent auction where this coin was reserved for $ 70,000 as an MS 65
In reality this coin was only worth $ 5,000
I have also seen an 1858 stated as FS 302 called an 1858/7 at another auction.
Don't be fooled !
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@STEWARTBLAYNUMIS said: "A "Real" 1858/7 Flying Eagle cent MUST state STRONG on the holder
This is the ONLY variety that is worth a premium over a regular 1858. PCGS calls the weak variety FS 301 but does not state "weak" on the holder. This coin is worth no more than a regular 1858 cent. I have seen a recent auction where this coin was reserved for $ 70,000 as an MS 65 . In reality this coin was only worth $ 5,000. I have also seen an 1858 stated as FS 302 called an 1858/7 at another auction. Don't be fooled !
What grading service are you starting?
I sure would like to see the $5000 1858/7 FE cents that are actually not "real" because you say so. The variety is what it is. Without images, the "not real" genuine weak 58/7 may just be "worthless" money. Same stunt they pulled with the 11-D $2 1/2. Whatever. Thanks for the tip.
532214 --- 1858(7) Weak
2022 --- 1858/7 Strong
37383 --- 1858/7 Overdate FS-301 S-1 (FS-006)
37384 --- 1858 Overdate FS-302 S-7 (FS-006.1)
if you consider what Stewart is trying to say and look at the numbers that PCGS assigns to the insert it seems that to be certain you would want the Variety attribution with 37383 as the coin number.
PCGS just recently started identifying 1858/7 Snow-1 with Strong and Weak. The Strong is supposed to be an early die state where you can see the 7 plainly. On these, the misplaced digit above the first 8 is triangular. This is a corner from the base of a "1" digit punched into the field. Later die states have the misplaced digit just a dot and hardly any 7 visible.
There are both early and late die sates in the older #2022 1858/7. If you own one you need to get it relabeled as "Strong". A few late die states are out there that have gotten labeled as "Strong" so you still have to look at the coins, or get a Photo Seal.
The coin that Stewart made a note of was in the Legend auction in New Orleans.
I need a MS65 and would likely pay $100K for one, but the Legend auction coin was not an early die state. It was labeled with number #37383, which is the variety number assigned about 5 years ago when PCGS started listing more varieties. This number is a problem, as Early and Late die states are identified under it.
The Snow-7 1858/7 (#37384) is a totally different variety and has nothing to do with this Early/Late die state problem.
Also, PCGS needs to eliminate the Weak 1858/7 Snow-1 from the set registry. Collectors do not want the late die state and making them buy one to fill the registry hole is stupid.
Well stated Rick !
I also need one for a collector
However what I am saying is there is a difference between $ 5,000 and $ 100,000
The one coming up in the Stacks Biue Moon sale is an 1858 #37384 FS 302 but has No Overdate
Sorry if this is confusing but everyone should e mail PCGS and tell them to recognize
Only the Strong variety
That one is a Snow-7 which is a 1858/7, but a different die variety. It is also a pretty cool doubled die.
sorry if I confused anyone with the numbers I posted, my assumption was that PCGS had straightened things out with the latter two numbers. if I read the above posts correctly, that is really the thing that confuses.