Ron Guth:
1846 Large Cents are found with one of three different date sizes: Small; Medium, or Tall. The Medium Date is the rarest of the three because only one die variety (Newcomb 11) shows the middle-sized date. In looking at the PCGS Population Report, and based on the data there, the Medium Date appears to be almost twice as rare as the Tall Date and approximately seven times as rare as the Small Date. PCGS has not certified any Medium Dates above MS65, nor have they certified any full Red examples.