The 1857 Flying Eagle Penny is one of the rarest and most valuable coins in American history. Despite its original value of just one cent, this small coin can sell for up to $7,000 at auctions today. But what makes this penny so special? Why do collectors hunt for it? This article explores the history, features, value, and reasons behind its popularity in simple terms.
What Is the 1857 Flying Eagle Penny?
The 1857 Flying Eagle Penny was the first small-sized penny made by the United States. Before this, pennies were much larger and harder to carry. This coin marked a big change in U.S. coinage, making it easier to use in everyday life.
Designed by James B. Longacre, the U.S. Mint’s Chief Engraver, the coin features a flying eagle on the front, giving it the name “Flying Eagle Penny.” Its small size and unique design made it stand out from other coins of its time.
Key Facts About the 1857 Flying Eagle Penny
- Year Minted: 1857
- Designer: James B. Longacre
- Size: 19 mm in diameter
- Material: 88% copper, 12% nickel
- Number Minted: About 24 million
- Value Today: Up to $7,000 for coins in excellent condition
Why Is the 1857 Flying Eagle Penny So Valuable?
The 1857 Flying Eagle Penny is worth a lot because of its rarity, historical importance, and condition. Let’s break down the main reasons:
Rarity
Even though 24 million coins were made, many were lost or damaged over time. Only a small number of these pennies still exist, especially in good condition. Fewer coins mean higher demand, which drives up the price.
Historical Importance
This penny was a game-changer. It was the first small-sized penny, replacing the larger copper cents. This shift made coins more practical for daily use, marking an important moment in U.S. coin history.
Condition Matters
The condition of the coin plays a big role in its value. Coins in mint or near-mint condition (graded MS-63 or higher) can sell for thousands of dollars. Coins with wear or damage are worth much less, sometimes only a few hundred dollars.
What Does the 1857 Flying Eagle Penny Look Like?
The design of the 1857 Flying Eagle Penny is a big reason why collectors love it. The front (obverse) shows an eagle soaring through the air, symbolizing freedom and strength. The words “UNITED STATES OF AMERICA” surround the eagle.
The back (reverse) has a wreath with “1 CENT” in the center, showing the coin’s value. The edge of the coin is plain, with no designs or writing.
Design Features
- Front: Flying eagle with “UNITED STATES OF AMERICA” written above.
- Back: A wreath with “1 CENT” in the middle.
- Edge: Smooth, with no markings.
How Much Is the 1857 Flying Eagle Penny Worth Today?
The value of an 1857 Flying Eagle Penny depends on its condition, rarity, and market demand. Most coins sell for a few hundred dollars, but those in top condition can fetch up to $7,000 or more.
Value by Condition
| Condition | Approximate Value |
|---|---|
| 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 better condition, with sharp details and little wear, are the most valuable.
Where to Buy or Sell an 1857 Flying Eagle Penny
If you want to buy or sell an 1857 Flying Eagle Penny, stick to trusted sources. Reputable coin dealers, auction houses like Heritage Auctions or Stack’s Bowers, and online marketplaces are good options.
For sellers, getting the coin graded by a professional service like PCGS or NGC ensures you get a fair price based on its condition.
Why Collectors Hunt for the 1857 Flying Eagle Penny
Collectors are drawn to the 1857 Flying Eagle Penny for its beauty, history, and rarity. Finding one in great condition is like discovering a piece of American history. The thrill of the hunt—whether at coin shops, shows, or online—makes collecting this penny exciting.
Some collectors even check their pocket change or old coin jars, hoping to stumble upon this rare gem. While it’s unlikely, the possibility adds to the coin’s allure.
Could You Have an 1857 Flying Eagle Penny?
You might not realize it, but an 1857 Flying Eagle Penny could be hiding in your collection or loose change. Look for the flying eagle design, the year 1857, and the small size. If you find one, have it checked by a professional to determine its value.
Conclusion
The 1857 Flying Eagle Penny is more than just a coin—it’s a piece of American history. Its rare status, unique design, and historical significance make it a treasure for collectors. With values reaching up to $7,000, this penny proves that even small change can be worth a fortune. Whether you’re a serious collector or just curious, keep an eye out for this iconic coin. You never know when you might find a valuable 1857 Flying Eagle Penny!
