This coin is a 1858 Flying Eagle Cent, Small Letters. It's not known whether the change in obverse lettering size was done to improve die life or simply to look better, but the Small Letters variety comprises roughly half of the 1858 cent coinage. It is easily distinguished by the fact that letters AM of AMERICA are clearly separated.In this grade, the coin is almost uncirculated, but has been handled enough to show some signs of wear.
