Price: 3,800.00 - SOLD - 5/21/2014* Free Shipping and Insurance for coins at $10K or above.
J-203, 1858 1 Cent Pattern, J-203 1858 1C Pattern PCGS PR64. R-5. This 1858 near-Gem proof cent pattern, J-203, made from copper-nickel like the regular coinage, is well struck. The coin is tied for the second finest known at both PCGS and NGC. There are full details on the eagles head and tail, areas that are opposite the heavy wreath on the reverse. It too is well struck with full details on the leaves and veins. The surfaces are lightly toned with tan, brown, gold and silver showing. These colors show the coins originality. The piece has no visible hairlines or contact marks, in keeping with the grade. It is an eye-appealing piece that could have been given a Gem grade.
Because the Mint officials were unhappy with the strike of the regular Flying Eagle coins, they experimented with several different reverses. These included the Agricultural Wreath used on regular issues of the year; the Oak Wreath with arrows below tied with a ribbon and ONE CENT at the center; the Oak Wreath with ornamented shield with arrows below, tied with a ribbon, with ornamented shield at the top and ONE CENT in the center; and the Laurel Wreath with ONE CENT in the center. The present coin is the Oak Wreath type.
Designed by James B. Longacre, it depicts an eagle in full flight to the left. The date is below. The legend UNITED STATES OF AMERICA is at the top in an arc. The reverse shows a heavy oak wreath tied with a ribbon. ONE CENT in two lines is within the wreath.
Pattern coins are made when the Mint is considering implementing new designs, using new metals, or introducing new denominations. Bowers calls them, the story of what might have been in coinage, but wasnt. Patterns are prototypes that, for the most part, were never approved for circulation. They are often off-metal strikes. Most are very rare, some are unique, and a few are not known outside of museums. Well over a thousand patterns were produced by the United States Mint. The pattern is also a sample of a new coin, which allows Mint officials to see what the new piece looks like life sized. It allows officials to test for any problems in production. They are also experimental pieces to test planchet diameter, format, shape, thickness, and composition. Some are struck from regular dies to test a different metal.
Longacre was born in Pennsylvania in 1794. When he finished his apprenticeship in Philadelphia as a bookseller and a banknote engraver, he worked on his own as an engraver of book illustrations and bank notes. His works included one on the signers of the Declaration of Independence and another on stage personalities. In 1830, Longacre began a series of biographies of famous men in the military and the political arena. In 1834 the result of this series became the National Portrait Gallery of Distinguished Americans that was published in four volumes. Longacre and those who worked with him became famous because of this work. In 1844 Longacre came to work at the Mint. He was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacres appointment as Chief Engraver. Finally in 1854, Peale was fired by President Franklin Pearce. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle.
In their combined population reports, PCGS and NGC show 10 1858 J-203 patterns certified higher than the present piece in near-Gem PR64 condition. These numbers do not account for crossovers or resubmissions.
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