1856+S3

Return to 1856

This is THE 1856 Flying Eagle cent. While all 1856's were struck with polished "Proof" dies, this issue was struck at normal speeds on a regular press to test the new planchet, new metal, new size and new design. They struck 634 + pieces. We know that these were the original pieces struck and distributed to Congress by studying the dies and the progression of wear the dies incurred. The amount of S3's we see in the market compared to S9 also correlates nicely with the reported strikings.

=Top examples= -) PR-67 PCGS. Graded prior to 1993 before S3's were designated as MS. -) MS-66 PCGS {PS}. EERC (1997 $46,000); Joseph P. Gorrell; [|Heritage FUN 1/2003:4401]; Jay Parino; [|Heritage FUN 1/2004:2010];.... -) PR-66 PCGS {PS} (graded in 2004 after PCGS stopped grading S3 as MS). Pictured above. EERC; Dr. Tom Fore. -) PR-66 PCGS True Proof. Bronzed, possibly at the Mint. Pictured above. Jim Ruddy; Richard Burdick; Jerry Bobbe - bought uncertified as regular cu-ni ($25,000); Graded PR66 NGC as regular 1856 ($37,500); Ron Karp; graded as copper - NGC PR66BN J-181;..;crossover PCGS PR66BN J-181 ($12,500);Westood coin ($18,000); EERC ($20,000); Stewart Blay (graded 2001 PCGS PR-66 regular cu-ni strike); [|Heritage ANA 7/01:5271]; ..; Palm Beach Collection; [|Heritage FUN 1/04:4364];.. -) MS-65 PCGS {PS} Pictured above. EERC; Dr. Larson; BWRC (2005 $125,000) ;Clint Ballard; BWRC/ EERC; EERC (2008 $130,000); Dr. Tom Fore. -) MS-65 PCGS {PS}. Pictured above. BWRC (3/2005 $100,000); [|Carnton Collection.]; EERC/RWRC; -) MS-65 PCGS {PS} Ira Davidoff collection. -) MS-65 PCGS {PS} EERC; [|Marv Elkin (Jon/Lor Collection);][|Heritage Long Beach 6/02: 5056]; -) MS-65 PCGS Stewart Blay. -) MS-65 PCGS Alex Highland Collection; [|Heritage Long Beach 02:5119]; Joshua and Ally Collection; [|Heritage FUN 1/06:3036];... -) PR-65 PCGS {PS}. Pictured above. Tom Fore; EERC. -) PR-65 PCGS {PS} Westwood; EERC; Charles D. -) PR-65 PCGS {PS} EERC; Randy B. -) PR-65 PCGS {PS} -) MS-64 PCGS {PS} T. Harrison Garrett; J.W. Garrett; B&R "Garrett I" 11/79:208;..;EERC (2002) Randall Chruch

=Grading=

There are three grading eras that have transpired that have thouroghly confused the pricing of the S3.

During 1986 -1993 PCGS and NGC had no reference to go by except for Breen's Proof book. They graded 1856's Proof or Mint State haphazardly. Here is the PCGS Pop report from March 1991:
 * March 1991. || 60.. || 61.. || 62.. || 63.. || 64.. || 65.. || 66.. || 67 ||
 * 1856 Proof || 5 || 5 || 16 || 38 || 28 || 6 || 0 || 1 ||
 * 1856 MS || 4 || 5 || 22 || 19 || 21 || 1 || 1 || 0 ||

Begining in 1993 PCGS began using Rick Snow's research to identify Mint States as the S3 die pair. Here is the PCGS Pop report from July 1993: Proof submissions increased much more than MS submissions.
 * July 1993... || 60.. || 61.. || 62.. || 63.. || 64.. || 65.. || 66.. || 67 ||
 * 1856 Proof || 6 || 8 || 24 || 49 || 41 || 11 || 0 || 1 ||
 * 1856 MS || 5 || 8 || 29 || 28 || 26 || 5 || 1 || 0 ||

Around 1998 PCGS had a problem. I think it had something to do with the PR67 in the population, which is a S3 die pair. The PR-66 PCGS bronzed example is the only S3 seen that is certianly a proof. It was possibly a trial strike, but is certianly a special case.

Here is the PCGS Pop report from July 1999: Proof submissions increased much more than MS submissions. The increase of the MS from 1993 to 1999 is mostly all S3 die pairs.
 * July 1999... || 60.. || 61.. || 62.. || 63.. || 64.. || 65.. || 66.. || 67 ||
 * 1856 Proof || 10 || 20 || 45 || 81 || 98 || 24 || 1 || 1 ||
 * 1856 MS || 6 || 9 || 34 || 37 || 32 || 10 || 2 || 0 ||

From 1999 to today, it is very difficult to get MS graded 1856's. The ones that get called MS are weakly struck or are lacking any Proof look. Here is the PCGS Pop report from January 2008: Proof submissions increased much more than MS submissions.
 * January 2008. || 60.. || 61.. || 62.. || 63... || 64... || 65.. || 66.. || 67 ||
 * 1856 Proof || 9 || 23 || 78 || 144 || 181 || 48 || 4 || 1 ||
 * 1856 MS || 5 || 10 || 36 || 43 || 34 || 14 || 2 || 0 ||

Now after 1998 PCGS has been grading most 1856's as Proofs. The ones that get called MS are weakly struck or are lacking any Proof look.

NGC followed suit In 1999 NGC had graded 61 1856's as MS and 161 pieces as Proof. In 2007 NGC has graded 59 1856's as MS and 322 pieces as Proof.