The 1858 Flying Eagle Cent holds a significant place in American numismatics, representing a transition in coin design and the evolution of U.S. currency. This article serves as a valuable resource for collectors, investors, and history enthusiasts alike, detailing the characteristics, market value, and care of this intriguing coin. Whether you own one or simply wish to learn more, understanding its value will enhance your appreciation for this iconic piece of American history.
What is the Flying Eagle Cent?
The Flying Eagle Cent is a one-cent coin that the United States Mint produced from 1856 to 1858. It is notable for its innovative design, featuring an eagle in flight, which symbolizes freedom and the spirit of America. Designed by engraver James B. Longacre, the coin marked a departure from the larger cent coins of the past, introducing a smaller size and a more modern aesthetic that appealed to collectors and the general public.
This coin is often referred to as the “flying eagle penny,” and it serves as a cornerstone for many coin collections. Its design and historical significance make it a sought-after item among numismatics, particularly those interested in U.S. coinage evolution.
Historical Context: Why was the Flying Eagle Cent minted?
The introduction of the Flying Eagle Cent came during a transformative period in American history, marked by economic changes and the introduction of smaller denominations. Prior to the Flying Eagle, the U.S. Mint produced larger cents, often made from copper, which were cumbersome for everyday transactions. The need for a more practical and accessible currency led to the creation of the Flying Eagle Cent.
The minting of the 1858 Flying Eagle Cent coincided with the economic challenges of the 19th century, including inflation and the rising cost of copper. By introducing this smaller cent coin, the U.S. Mint aimed to facilitate commerce and address the public’s demand for a more convenient form of currency.
What are the key features of the 1858 Flying Eagle Cent?
The 1858 Flying Eagle Cent features distinct characteristics that set it apart from other coins of its era. The obverse showcases a beautifully rendered eagle in flight, surrounded by the words “One Cent,” while the reverse displays a wreath encircling the denomination. This design was revolutionary for its time and exemplifies the artistic capabilities of the U.S. Mint.
Another notable feature is the coin’s size; the Flying Eagle Cent measures just 19 mm in diameter, making it a “small cent.” Its composition of 88% copper and 12% nickel also distinguishes it from earlier large cents, which were primarily copper. Collectors often seek out coins in various conditions, ranging from “extremely fine” to “uncirculated,” which affects their market value.
How does the 1858 Flying Eagle Cent compare to other coins?
When comparing the 1858 Flying Eagle Cent to other coins of the same era, its unique design and smaller size stand out. The Flying Eagle Cent represents the shift from the large cent coins, such as the “large cent” from earlier decades, to the more compact denominations that would follow, including the Indian Head cent and Lincoln cent.
Moreover, the Flying Eagle Cent paved the way for future designs, influencing not only the Indian Head cent, which succeeded it, but also modern U.S. coinage. Collectors often view the Flying Eagle as a bridge between the past and the evolving landscape of U.S. currency, further enhancing its appeal in coin collections.
What are the different varieties of the 1858 Flying Eagle Cent?
The 1858 Flying Eagle Cent has two main varieties based on the lettering on the obverse: the “large letters” variety and the “small letters” variety. The large letters variety features a more prominent inscription, making it easily recognizable. In contrast, the small letters variety displays a more delicate inscription, which collectors find intriguing due to its rarity.
These varieties can significantly affect the coin’s market value. Generally, the small letters version is rarer and commands higher prices among collectors. Understanding these distinctions is crucial for anyone looking to buy or sell a Flying Eagle Cent, as it directly impacts the overall value and desirability of the coin.
How to determine the grade of the 1858 Flying Eagle Cent?
Grading a coin involves assessing its condition based on a standardized scale, known as the Sheldon coin grading scale. For the 1858 Flying Eagle Cent, collectors often refer to grades such as “extremely fine,” “very fine,” or “uncirculated.” Each grade reflects the coin’s wear, surface quality, and overall appearance.
To accurately grade your Flying Eagle Cent, consider factors like luster, strike quality, and any visible marks or scratches. Professional grading services, such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Company (NGC), offer expert evaluations, which can enhance the coin’s marketability and value in the eyes of potential buyers.
What is the current market value of the 1858 Flying Eagle Cent?
The market value of the 1858 Flying Eagle Cent varies based on its condition, variety, and demand among collectors. As of 2023, prices can range from approximately $50 for a coin in lower grades to several thousand dollars for uncirculated examples or rare varieties. The “small letters” variety, in particular, often fetches higher prices due to its rarity.
Collectors should stay updated on market trends and auction results to gauge the current value accurately. Price guides and online platforms can provide valuable insights, helping you make informed decisions when buying or selling the 1858 Flying Eagle Cent.
Where to buy or sell the 1858 Flying Eagle Cent?
When looking to buy or sell the 1858 Flying Eagle Cent, consider reputable dealers and platforms that specialize in numismatics. Accurate Precious Metals is a well-regarded resource for purchasing gold and silver products, including coins. While they do not currently offer a storage facility for metal products, their expertise in the market can provide guidance for collectors and investors alike.
Additionally, online marketplaces like eBay and collector forums can serve as excellent venues for buying and selling coins. Always conduct thorough research and verify the credibility of sellers to ensure a safe transaction. Understanding market conditions and price trends will help you navigate the buying and selling process more effectively.
How to care for your 1858 Flying Eagle Cent?
Caring for your 1858 Flying Eagle Cent is crucial to preserving its condition and value. Store coins in a cool, dry place, away from direct sunlight and humidity, as these factors can cause tarnishing or damage. Use protective holders or coin flips to keep them safe from scratches and environmental pollutants.
When handling the coin, always hold it by the edges to avoid fingerprints and oils from your skin. Avoid cleaning the coin, as this can diminish its numismatic value. Instead, if necessary, gently wipe it with a soft, lint-free cloth. If you’re ever uncertain about how to best care for your coin, consult professionals or numismatic resources for guidance.
Common questions about the 1858 Flying Eagle Cent
What is the significance of the eagle design on the 1858 Flying Eagle Cent?
The eagle design on the 1858 Flying Eagle Cent symbolizes freedom and the American spirit. It reflects the ideals of the nation during the era and serves as a reminder of the country’s values. The design, created by James B. Longacre, was a significant departure from previous coin designs, showcasing a more modern and artistic approach.
Are there any major errors to look for in the 1858 Flying Eagle Cent?
While the 1858 Flying Eagle Cent has no widely recognized major errors, collectors should always be vigilant for any irregularities that could enhance a coin’s value. Look for coins with unique characteristics, such as misprints or unusual die markings, as these can make a coin exceptionally rare and valuable.
Can the 1858 Flying Eagle Cent be used as legal tender today?
No, the 1858 Flying Eagle Cent is no longer considered legal tender. The U.S. Mint ceased production of this coin in 1858, and it has since become a collectible item rather than a form of currency. However, its historical significance and numismatic value make it a sought-after item among collectors.
How does the 1858 Flying Eagle Cent fit into a larger coin collection?
The 1858 Flying Eagle Cent is an essential piece for any serious coin collector, especially those focused on U.S. numismatics. It represents a transitional period in American currency, making it a key component in understanding the evolution of coinage. Including the Flying Eagle Cent in your collection enhances its historical significance and adds depth to your numismatic portfolio.
Should I get my 1858 Flying Eagle Cent graded?
Getting your 1858 Flying Eagle Cent graded can be beneficial, especially if you plan to sell it or want to assess its market value accurately. Professional grading organizations, such as PCGS and NGC, provide expert evaluations that can significantly enhance the coin’s desirability and marketability. A higher grade often equates to a better price in the market.
Key Takeaways
- The 1858 Flying Eagle Cent marks a significant shift in U.S. coinage design and size.
- Understanding the different varieties (large and small letters) is crucial for collectors.
- Grading the coin accurately can help determine its market value.
- Proper care and storage of the coin will preserve its condition and value.
- Consult reputable dealers and resources for buying, selling, and appraising your coin.
Sources
- G. M. Cohen, “A History of the Flying Eagle Cent.” Numismatica.
- “1858 Flying Eagle Cent.” Coins World.
- “Grading Coins: The Sheldon Scale.” PCGS.
