The Flying Eagle Penny: An Iconic Piece of American Numismatic History
The Flying Eagle penny, officially known as the Flying Eagle cent, marks a significant era in American coinage. Minted for a brief period from 1856 to 1858, it was the precursor to the Indian Head cent, making it a coveted item for collectors today.
The Genesis of the Flying Eagle Penny
By the mid-1850s, the United States faced a coinage dilemma. The existing large cent had become unpopular due to its cumbersome size and increasing production costs. The rising cost of copper prompted the U.S. Mint to explore alternatives. A solution emerged: a smaller cent made from a copper-nickel alloy.
The Act of February 21, 1857, authorized the reduction in size and change in composition. This new cent featured a blend of 12% nickel and 88% copper, which proved to be more economical and easier to handle.
Design and Symbolism
The Flying Eagle design, crafted by Chief Engraver James Barton Longacre, depicted a graceful eagle in mid-flight. This imagery symbolized strength and progress. On the obverse, “UNITED STATES OF AMERICA” and the date wrapped around the eagle. The reverse side showcased a wreath surrounding the denomination “ONE CENT.”
The design drew inspiration from Gobrecht’s silver dollar patterns from the 1830s. The dynamic portrayal of the eagle captivated the public and marked a departure from static representations common at the time.
Minting and Circulation Challenges
Production began in earnest at the Philadelphia Mint. However, challenges arose almost immediately. The composition made the coins difficult to strike, often resulting in incomplete images. Dies wore out quickly due to the hardness of the nickel.
Despite these challenges, the flying eagle penny saw widespread circulation. It became a familiar item in pockets and tills across the country. The public largely accepted the new size and composition, appreciating its convenience over the bulky predecessors.
The Short-Lived Era
The Flying Eagle cent’s lifespan was fleeting. By 1858, issues with the striking process and rapid die deterioration prompted the mint to reconsider. In 1859, the Indian Head cent replaced the Flying Eagle, resolving many of the production difficulties while retaining the popular metal composition.
Collectability and Value
Today, the Flying Eagle penny is a prized piece among numismatists. Its short production run and place in history add to its allure. The 1856 issue, considered a pattern coin, commands significant interest and value due to its rarity.
Collectors seek these coins for their historical significance and distinctive design. Prices vary, with well-maintained examples fetching hundreds or even thousands of dollars at auction. Condition, rarity, and provenance greatly influence market value.
Detecting Counterfeit Coins
As with any valuable coin, counterfeiting is a concern for collectors. Flying Eagle pennies, especially the 1856 mints, attract forgers. Collectors should be vigilant when purchasing, ensuring provenance and authenticity through reputable sources.
Verifying weight, diameter, and thickness against known standards is critical. Professional grading services provide authenticity certificates, offering peace of mind to buyers.
Modern Re-evaluations
Numismatic scholars continue to study the Flying Eagle cent, offering new insights into its production and cultural impact. Technological advances allow for detailed analysis of minting techniques and materials, deepening our understanding of these historical artifacts.
Exhibitions and collections often feature the Flying Eagle cent, drawing interest from collectors and historians alike. Its enduring legacy provides a window into a transformative period in American history.
Conclusion: A Symbolic Journey
The Flying Eagle penny, though minted briefly, left an indelible mark on the numismatic world. Created from necessity, it rose above mere utility, embodying the spirit of innovation and change. Its journey from a practical solution to a beloved collectible underscores the dynamic narrative of American coinage.