Flying Eagle Cent

The Flying Eagle Cent was the first small-sized cent coin minted in the US, replacing the earlier large cent.

Specifications

 * Designer: James Barton Longacre
 * Obverse Design: Eagle in Flight
 * Reverse Design: The words ONE CENT surrounded by a wreath
 * Edge: Plain
 * Weight: 4.7 grams
 * Diameter: 19 millimeters
 * Composition:  Copper (88%), Nickel (12%)
 * Dates Minted: 1856-1858

Background
The Flying Eagle cent came to be because of the unpopularity of the large cent. Yes, large cents are much beloved by collectors today, but by the coin-using public of 1793 to 1857, they were too big, heavy and clumsy for many people’s taste. In fact, the U.S. Treasury came to dislike the large cent over time as well—its face value was only one-cent, yet it was expensive in that it took a large amount of copper to produce. A smaller sized cent was needed.

It was decided to strike a small-sized cent made of 88% copper and 12% nickel. This gave the coin a white-ish appearance when brand new (though that color turned mustard-yellow over time). Because of that white-ish color, the new Flying Eagle cents were often referred to as “White Cents.” The obverse design of the new small cent was actually incorporated from the reverse of an earlier U.S. coin pattern: the 1836-39 Gobrecht pattern dollar.

History
Despite some 1,000 1856-dated Flying Eagle cent patterns being struck and some slipping into circulation, official authority to strike Flying Eagle cents was not given until February of 1857. In fact, throughout 1856 and into 1857, large cents continued to be struck, so in effect, our nation had two types of one-cent coins circulating side by side in 1856 and 1857. When the TRULY official release of the Flying Eagle cent came about in 1857, the coin was an instant hit. The heavy, cumbersome large cents were quickly set aside by the public in favor of the new, smaller, more easily carried “White Cents.”

There was a huge production of Flying Eagle cents in 1857—17.4 million in fact. In 1858, production was even larger at 24.6 million. Merchants even began complaining about Flying Eagle cents clogging up their tills! This large production of Flying Eagle cents, at least in its official years of 1857 and 1858, means that there should always be Flying Eagle cents out there on the market for any collector who wants to own one. Yes they are popular, and the demand does push the price up on these a bit. But the numbers available also keep prices in check, as we’ll see later.

Remember early on where I talked about how much collectors love the Flying Eagle cent design? Well.. that design was the primary culprit in the short life span of this unique coin series. Yes, I just wrote about how popular the coin was with the public. But what made the coin so popular, apparently, was its user-friendly size. As for its design, the American public actually didn’t care for it! Though it started off being known as the “White Cent” it later became known in popular circles as the “Buzzard Cent”! Red-faced U.S. Mint officials decided it was time to re-design its new small cent. A year later, a new small cent appeared—this one adorned with a very graceful and feminine bust of a woman wearing Native American headdress. Thus, the Indian Head cent was born, and the Flying Eagle cent was no more.

Collecting
The Flying Eagle cent is one of those that, when new collectors discover it, they really want to own one! This coin has always been popular with collectors. Why? Because this short little series really stands out. Let’s look at some key reasons why.

At the top of the list is the design. There’s just something about that majestic eagle flying across the face of the obverse. We Americans are used to seeing the eagle on the reverse of our coins—but as the Flying Eagle cent proves, the eagle makes for a great obverse design. Especially an eagle in flight. Furthermore, the Flying Eagle cent is the ONLY U.S. one-cent coin to NOT feature a “head” obverse. Before the Flying Eagle cent, our one-cent coins always a Liberty head obverse. After the Flying Eagle cent there was the Indian Head obverse, followed by the Lincoln Head obverse.

Secondly, the Flying Eagle cent is unique among U.S. one-cent coins in that it’s the only one-cent series to be struck entirely in copper-nickel. True, from 1859 through part of 1864, there were copper-nickel Indian Head cents as well, but they didn’t last throughout the entire series. From the last part of 1864 through 1909, the Indian Head cent was struck in copper. So in the Flying Eagle cent, you have a one-cent coin with a unique design (flying eagle obverse) and a unique look (thick, mustard-yellow colored coin).

The Flying Eagle cent stands out for another important reason. It’s our nation’s first small-cent coin! The appearance of the Flying Eagle cent ended the large cent era which had lasted from 1793 through 1857, and commenced the small-cent era, which continues to this day.

Another factor that lends to the ongoing popularity of the Flying Eagle cent, is the period in which it was struck. The years of 1856 through 1858 were tumultuous times, as events in this country were marching this country towards Civil War. Abraham Lincoln was in pursuit of the office of President, as he engaged opponent Stephen Douglas in historic public debates. There was frontier violence in the Kansas-Missouri area. John Brown and his followers were wreaking havoc at Harper’s Ferry in Virginia in their quest to free the slaves. Meanwhile, there were pioneer and Indian tensions out west.

Lastly, the Flying Eagle cent series is a nice, short, and compact little series with few surprises (like endless minute variety types and multi-year spans of rare proof strikes only). True, the official time span of the Flying Eagle cent is 1856 through 1858. But many collectors give themselves a pass on the rare 1856 date. After all, some experts place the 1856 F.E cent in the “pattern” category—an experimental pattern coinage that, nonetheless, circulated somewhat. So by procuring the fairly-easily-obtainable dates of 1857 and 1858, many collectors consider their date set of Flying Eagle cents to be complete. Or at least reasonably complete. And being a short series at just three years – or two years if you prefer – there is the illusion of rarity. Promoters can trumpet, “This coin was struck for just three years, then vanished!” Later, we’ll get into just how rare, or not, this series actually is.

Grading
Tens of millions of 1857 and 1858 Flying Eagle cents were struck. Many have survived, and it is these dates you can expect to find when you go out shopping for an example. Because the Flying Eagle cent is so popular with collectors, dealers usually don’t have much trouble turning them over. Prices should soar (like an eagle) because of this, but the large supply of F.E cents out there prevents them from going too high. In Good, an 1857 and 1858 both retail about $22. In Very Good, the retail price is $35, while the price in Fine makes the tiniest of jumps to $39. What does this tell you? It tells you not to even BOTHER paying $35 retail for a VG when for just r four bucks more, you can get a more attractive FINE! Either the Very Good F.E cents are over-priced or the Fine F.E cents are under-priced!

The key to the Flying Eagle cent series is the 1856 date. And that’s the understatement of the century. The 1856 Flying Eagle cent is definitely in the Top 10 of all popular U.S. coin rarities. As mentioned before, only about 1,000 were struck, and these were not meant to circulate, though some did. They are actually out there on the market, but it will take some looking to find one—and if you do MAKE SURE TO HAVE IT AUTHENTICATED!! It will cost you around $6,250 in Good, and around $9,000 in Fine. But if you do manage to lay out the heavy dollars for one, you can at least rest assured you’ll have plenty of eager buyers for it should you ever decide to re-sell.

As the Flying Eagle cent did circulate quite a bit, most examples you will find today will grade Good to Very Good or lower. A Flying Eagle cent in Fine or better, and without problems (these coins are notorious for surviving with rim bumps, nicks and corrosion), is a truly desirable coin. On the obverse, look to see if there is at least 50% feather detail and a full eye on the eagle. This is characteristic of a Fine piece. On the reverse, the wreath should have some leaf and flower detail to be considered Fine or better. Dates on these coins were struck very small, so they appear hard-to-read smudgy or not at all many times.

Mints

 * Philadelphia Mint (No mintmark)