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The Act of
Feb 21, 1857,
mandated that a smaller diameter cent made of copper-nickel be
coined. The Large
Cent, a staple in US coinage since 1793, had become too costly to
mint.
The first small cent was the Flying Eagle Cent, which was actually
minted in 1856. The 1856 cent is technically described as a pattern
coin, since the law establishing the new small cent was enacted in
1857. About 1000 of the 1856 Flying Eagle Cents were minted.
US Coin Values Advisor has completed Coin
Value Tables for the Flying Eagle Cent, reporting price trends
over a long period of time for individual coins of this series.
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| Flying Eagle Cent
Specifications |
| Diameter: |
Weight: |
Minted: |
Composition: |
Designer |
Edge: |
| 19.0 mm |
4.67 g |
1856-1858 |
.880 Cu .120 Ni |
James Longacre |
Plain |
| Coin Photos courtesy of Ira & Larry
Goldberg Coins & Collectibles, Inc., Beverly Hills, CA |
On May 25, 1857, the US
Philadelphia Mint began exchanging old large coppers and foreign
silver for Flying Eagle cents. The program was a magnificent success.
Legend has it that Peter the Eagle was the model for the bird on the
coin. Peter was a bald eagle who took up residence inside the original Philadelphia
mint building around 200 years ago.
Peter was mortally wounded when he was caught in some machinery.
Taxidermists preserved Peter, and today he
is on display at the current Philadelphia Mint. In the 1880's, Mint
researcher George G. Evans wrote this about Peter:
Near
the exit
door of the Cabinet, in a large
glass case, is a magnificent American eagle, which is worthy of the
visitor's attention. It is superbly mounted, with grand breadth of wing
and wondrous piercing eyes. The portrait of this "pet" can be
recognized on the reverse of the pattern silver dollars of 1836-1839
and on the obverse of the 1856 flying eagle cent.
Peter is the name which the noble bird is recognized. He was an
inhabitant of the Mint for six years. He would fly about the city, but
no one interfered with the going or the coming of the "Mint bird" and
he never failed to return home from his daily exercise before the time
for closing the building. In an evil hour he unfortunately perched upon
a large flywheel, and getting caught in the machinery received a fatal
injury to his wing, and this ended rather an unusual career for an
eagle.
Peter, The Mint Eagle
Peter the Mint Eagle waits in the wings beside U.S. Mint
Director Henrietta Holsman Fore at the rollout ceremony for the
California state quarter in 2005.
Image courtesy of US
Mint.
Today, Peter has become
a mascot
of sorts for the Mint, portrayed as a cartoon narrator in
educational outreach programs geared for young people. It seems as long
as there is the US Mint, Peter's memory will be preserved.
The Flying Eagle Cent was minted only through 1858. Insufficient metal
flow into a few design element recesses (e.g. the eagle's head) while
striking led Mint officials to abandon the coin. By the time this
decision was made, more than 42 million Flying Eagle Cents had entered
the channels of American commerce. The following year, 1859, saw the
first of 50 years of production for the Indian
Head cent
All Flying Eagle Cents are handsome additions to any collection, but
the 1856 really is the only key date for the series. Many fakes of this
rarity exist. A good way to avoid getting hurt is to only purchase an
1856 Flying Eagle Cent that is certified by PCGS, NGC, ANACS, or IGC.
Most eBay coin
auctions involving the 1856
Flying Eagle Cent are for self-described replicas of the famous coin.
Primarily, these are curiosities and have no numismatic value to speak
of. Once in a while, the real deal will make an appearance. The left
hand side of the "Sales Box" is value trend data over a very long
period of time for an 1856 Flying Eagle cent in Good-4 condition. The
percent annual increase is computed for comparative purposes. The
coin pictured for sale in the right hand side is not necessarily a G-4
example of the 1856 Flying Eagle cent.
1856
Flying Eagle Cent
Condition: G-4 |
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Value Trends
1950: $60.00
1980: $800
1995: $2600
2003: $3850
2010: $6500
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% Annual Increase Since
1950 =
8.12%
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