The 1857 Flying Eagle Penny is one of the most intriguing and valuable coins in U.S. numismatics. Despite its age, this small coin still holds tremendous value, with some examples fetching as much as $7,000 at auction. Why is this particular penny so valuable?
What makes it stand out in the world of rare coins? In this article, we’ll delve into the history, features, and current value of the 1857 Flying Eagle Penny, and explain why collectors are still on the lookout for it.
The History Behind the 1857 Flying Eagle Penny
The 1857 Flying Eagle Penny was the first small-size copper-nickel coin minted by the United States. Prior to this, pennies were much larger, and the change to the smaller size was a significant shift in U.S. coinage.
The coin was designed by James B. Longacre, the Chief Engraver of the U.S. Mint at the time. His design featured a majestic eagle in flight on the obverse, which is where the coin got its “Flying Eagle” nickname.
Key Facts About the 1857 Flying Eagle Penny:
- Minted Year: 1857
- Designer: James B. Longacre
- Diameter: 19 mm
- Composition: 88% copper, 12% nickel
- Minting Quantity: Approximately 24 million coins were struck
- Value Today: Up to $7,000 in high-grade conditions
The 1857 Flying Eagle Penny marked the start of a new era in U.S. coinage, replacing the larger copper cent. Although the coin was produced in large numbers, its relatively short mintage period and the limited surviving examples have made it highly sought after by collectors.
Why is the 1857 Flying Eagle Penny So Valuable?
The 1857 Flying Eagle Penny is valuable for several reasons, most notably its rarity, historical significance, and the fact that it was a transitional coin. Let’s break down the key factors that contribute to its value.
Rarity and Limited Survival
While around 24 million 1857 Flying Eagle Pennies were struck, many of these coins were used in circulation and have long since been lost to time.
The surviving examples are few, especially those in excellent condition. As with many coins, the fewer the number of surviving coins, the higher the demand, which drives the price up.
Historical Significance
The 1857 Flying Eagle Penny holds historical value as it represents the U.S. Mint’s transition from the large cent to the smaller one.
This change was part of a broader movement to standardize coinage and make it more practical for everyday use. The Flying Eagle Penny is a symbol of this important shift in American currency.
Condition and Grading
Like any rare coin, the condition of the 1857 Flying Eagle Penny plays a significant role in its value. Coins that are in mint or near-mint condition (graded MS-63 or higher) are worth substantially more than those in average condition.
Coins with sharp details, full luster, and minimal wear can fetch up to $7,000 at auction, while lower-grade coins may only be worth a few hundred dollars.
The Design of the 1857 Flying Eagle Penny
The design of the 1857 Flying Eagle Penny is one of the key reasons collectors are drawn to this coin. The obverse features a soaring eagle, symbolizing freedom and strength, with the words “UNITED STATES OF AMERICA” encircling it.
On the reverse, there is a wreath surrounding the number “1,” signifying the coin’s face value of one cent. The simple yet elegant design of this penny has made it a favorite among collectors.
Design Features
- Obverse: A flying eagle with “UNITED STATES OF AMERICA” above it.
- Reverse: A laurel wreath with “1 CENT” at the center.
- Edge: Plain (no reeding or inscription).
How Much is the 1857 Flying Eagle Penny Worth Today?
The value of the 1857 Flying Eagle Penny depends heavily on its condition, rarity, and demand. While most 1857 Flying Eagle Pennies are worth a few hundred dollars, certain examples in excellent condition can fetch as much as $7,000 or more.
Value Breakdown by Condition:
| Condition | Approximate Value (Per Coin) |
|---|---|
| Poor (AG-3) | $100 – $150 |
| Fine (F-12) | $250 – $350 |
| Very Fine (VF-20) | $400 – $600 |
| Extremely Fine (EF-40) | $800 – $1,200 |
| Mint State (MS-63) | $2,500 – $7,000 |
Coins in MS-63 or higher condition, particularly those with full detail and sharpness, can achieve premium prices at auction.
Where to Buy and Sell the 1857 Flying Eagle Penny
If you’re looking to buy or sell an 1857 Flying Eagle Penny, it’s important to work with reputable dealers or auction houses. The best place to find a high-quality 1857 Flying Eagle Penny is through professional numismatics dealers or major auction platforms like Heritage Auctions and Stack’s Bowers Galleries.
If you’re considering selling your penny, make sure to have it professionally graded by a trusted grading service like PCGS or NGC to ensure you get an accurate valuation.
The Quest for the 1857 Flying Eagle Penny – Is One in Your Collection?
If you’re a coin collector, finding an 1857 Flying Eagle Penny could be a great addition to your collection. While these coins are rare, they are still out there, and with a bit of research and patience, you may stumble upon one.
Whether you’re searching through coin shops, attending numismatic shows, or browsing online marketplaces, the quest for the 1857 Flying Eagle Penny is a rewarding journey for any collector.
The 1857 Flying Eagle Penny is a fascinating and valuable coin that continues to capture the attention of collectors and investors alike. With its rich history, unique design, and rarity, it’s no wonder that some examples can fetch up to $7,000 or more.
If you’re lucky enough to come across one, make sure to have it properly evaluated and preserved—this small coin could be a big investment for your collection!
FAQs
Why is the 1857 Flying Eagle Penny worth so much?
The 1857 Flying Eagle Penny is valuable due to its rarity, historical significance as the first small-size cent, and its condition. Coins in excellent grades can fetch up to $7,000.
How many 1857 Flying Eagle Pennies were made?
Approximately 24 million 1857 Flying Eagle Pennies were minted, but many have been lost or worn down over time, making the surviving examples much more valuable.
What is the most valuable 1857 Flying Eagle Penny?
The most valuable examples of the 1857 Flying Eagle Penny are those in mint state (MS-63 or higher) condition, with some coins fetching up to $7,000 or more.
How can I tell if my 1857 Flying Eagle Penny is rare?
To determine if your 1857 Flying Eagle Penny is rare, consider having it graded by a professional service like PCGS or NGC. The condition and specific minting details will affect its value.