by Shannon Rajkitkul
Introduction to our Tone Coins by Series
With thousands of followers in the toned rare coin market today, coins with superior eye appeal often trade at large premiums. Since COVID, new collectors and investors that specialize in toned coins have increased in large numbers. It is thus imperative to examine the toned coin market and their premiums for different series.
First up…
Flying Eagle Cents
An incredibly short series from 1856 to 1858, Flying Eagle Cents is a popular series as a Type coin and to all Small Cents collectors. These coins can be acquired inexpensively, yet the key date 1856 1c can be obtained with some financial planning. This series, however, is seldom seen toned, in part because of the coins’ copper nickel composition; the same reason we do not see Indian Head Copper Nickel Pennies from 1859 to 1864 toned frequently. As a result, when toned Flying Eagles Cents do show up for sale, the market hardly knows how to price them.
On a Toned Demand Factor ( TDF) I would rank toned Flying Eagle Cents 6/10. Had toned Flying Eagles been more ubiquitous in the market, I can see them easily climb up higher to a 7/10. The eye appeal, color, demand and rarity exists for large premiums to apply for the correct coins.
Business Strikes
Clubbed into three main categories from least premium to highest premium of Toned Flying Eagle Cents.
Pink or Purple Hue
These are the most seen toned Flying Eagle Cents when they come around. These often appear slightly darker in hand, and as a result impede the level of eye appeal, but make up in ample luster. Premiums typically range from 20%-40%
Red and Yellow Shades
From the Kenneth M Collection.
Images courtesy of Paradime Coins.
An undervalued color which has a middle child syndrome, this exemplar toning pattern the yellow hue as seen below and similarly red color is truly a distinct piece to behold. They excel in eye appeal, but are almost never seen. Premiums can range up to 50%
Rainbow Toned
ex Legend Auction 05/2019.
Images courtesy of Legend Auctions.
Among the best, rainbow toned examples specifically peripherally rainbow toned pieces are highly coveted within the Flying Eagle Cents series. These can sell for 100% premium+ and in some cases more depending on the level of eye appeal. The market is very accustomed to peripheral toning as we see them often on silver coins, as a result, collectors are ready to acquire these at a moments notice.
Proof Strikes
ex Legend Auction 09/2019.
Images courtesy of Legend Auctions.
Proof Flying Eagles are sharply different from Business Strike in relation to premiums and yes strike as well. While they are mostly toned with 1 shade and in the fields, they seldom come in rainbow hues though some exist. Since most proof Flying Eagles are 5 figures, premiums for these series should be approached with caution. This is because the coin itself is already high valued, these are collected differently as proof issues and any premium for toned proof Flying Eagles is mostly paid for the coin’s rarity and quality instead of its toning.
Pro Tip
By way of conclusion, stay away from coins with flyspecks or carbon spots that are commonly seen on copper-nickel coins, and do not get blinded by toned proof Flying Eagle cents into paying large premiums unless truly warranted. Pay within auction comparable sales for proof coins.
About the Author
Shannon is the owner of Paradime Coins, a prominent numismatic firm that deals in rare U.S. collectibles. Holding an MBA from the University of Oxford, Shannon has researched extensively on diversification, and brings expertise into investment portfolios through non-traditional assets.
If you have any questions about this article or have any attractively toned CAC approved or CAC graded Indian Head Pennies for our next article please email to shannon@paradimecoins.com.
Suggested Articles
