The 1858 Flying Eagle penny is an iconic part of American numismatic history. It’s one of the earliest coins to be issued by the US Mint, and it’s widely considered to be among the most beautiful coins in America.
As a result, collectors have been eager to get their hands on these pieces for many years now. This article will provide an overview of what makes this coin so special, including its design, rarity and value.
History Of The 1858 Flying Eagle Penny
The 1858 Flying Eagle penny is a significant specimen in the world of numismatics. It was minted between 1856 and 1858 and is considered to be the first successful attempt at producing small-size US coins. This transition from large cents to smaller denominations represented a major change in American coinage, as it allowed coins to travel farther while still maintaining their value.
At this time, there were two different types of Flying Eagle pennies produced: those with letters or without letters on them. The ones without letters are known as Type 1 coins and had no inscription near the wreath that encircled Lady Liberty’s head.
These pieces make up about 90% of all surviving specimens today, making them much more common than the Type 2 coins which do contain an inscription just below Lady Liberty’s neckline reading “UNITED STATES OF AMERICA”.
Additionally, some rare varieties of both type 1 and type 2 exist, such as double die errors where parts of the design appear twice due to a misalignment during the striking process. Despite its age and relative rarity among certain varieties, demand for this historic piece remains strong among collectors who seek out these classic designs from America’s past.
Design Of The 1858 Flying Eagle Penny
Minting process-wise, the 1858 Flying Eagle Penny was quite a challenge to produce. It was the first small-sized penny from the US Mint, so they had to adjust their procedures accordingly.
Design-wise, the obverse of the penny features an eagle in flight, with the reverse featuring a wreath surrounding the denomination. It’s a great example of how much detail can be packed into a small coin.
Minting Process
It’s interesting to think about the design process behind the 1858 Flying Eagle Penny. This coin was minted for a relatively short period of time, so it holds a certain level of specialness in the numismatic world. To understand this unique penny, let’s take a look at its minting process!
The production of the penny began with Chief Engraver James Barton Longacre designing the obverse and reverse sides. The obverse side featured an eagle in flight while the reverse had a wreath surrounding the words ‘ONE CENT’.
After that, dies were used to strike blank planchets into coins. These coins then went through quality control before being shipped out.
Interestingly enough, due to some difficulties experienced during manufacturing, there are two distinct types of these beautiful pennies – one type has sharp details on both sides while another type has blunt edges and slightly weaker detailing on either or both sides. As such, they provide great opportunities for collectors looking to diversify their collections!
Design Details
The design of the 1858 Flying Eagle Penny was truly unique, and it’s no wonder that its production process involved a lot of effort. Let’s take a closer look at the details which made this coin so special.
Firstly, both the obverse and reverse were designed by Chief Engraver James Barton Longacre himself – the obverse featured an eagle in flight while the reverse had a wreath surrounding ‘ONE CENT’.
Secondly, quality control measures were taken to ensure these coins met certain standards before they left the mint.
Finally, two distinct types emerged due to some difficulties experienced during manufacturing: one type with sharp detail on both sides and another with blunt edges and weaker detailing. This makes them even more desirable for collectors looking for variety!
Rarity And Value Of The 1858 Flying Eagle Penny
The 1858 Flying Eagle Penny is a highly sought after item for numismatists. In fact, it’s so rare that only 2 million were ever minted! These coins are extremely valuable and can be worth up to $2,000 depending on their condition.
If you’re looking to add this coin to your collection, here’s what you need to know:
- Condition of the Coin:
- Grade 1 – Poorly circulated or damaged coins; lowest value range from $15 – $175
- Grade 2 – Visible details still exist but with some obvious wear; mid-value range from $200 -$800
- Grade 3 – All details remain intact without any significant signs of wear; high-value range from $1,000 -$2,000
It is important to note that some 1858 Flying Eagle Pennies have been counterfeited over the years, making it harder for collectors to authenticate them. To ensure authenticity, look out for certain characteristics such as the size and shape of the eagle’s wings and tail feathers.
Additionally, inspect all surfaces closely under magnification for any discrepancies in design elements like lettering and stars.
Ultimately, owning an authenticated 1858 Flying Eagle Penny will make an impressive addition to any numismatic collection due its rarity and historical significance.
Buying And Selling The 1858 Flying Eagle Penny
The 1858 Flying Eagle Penny is a rare find, and the first of its kind. It was the first one-cent piece minted by the U.S. after the Half Cent.
Its rarity makes it highly valuable, and it can fetch a hefty price! Collectors should definitely consider adding this piece to their collection!
It’s worth knowing the story behind it too – it was designed by Chief Engraver James Longacre and released in 1856, and it replaced the Half Cent coin.
Rarity
As a numismatist, I can tell you that the 1858 Flying Eagle Penny is an incredibly rare and valuable coin.
It was minted from 1856-1858 and only 20 million were made during this time period.
The rarity of these coins makes them highly sought after by collectors, so when one comes up for sale it’s usually gone in a flash!
In fact, many times people will pay more than what the book value would suggest just to get their hands on one of these coins.
This means that if you are lucky enough to come across one of these pennies at auction or even through private sales, then you’re likely going to make quite a bit of money off of it.
So next time you see an 1858 Flying Eagle Penny show up on the market, don’t let it slip away – snatch it up while you can!
Value
The value of the 1858 Flying Eagle Penny is what makes it so highly sought after.
It’s not uncommon for people to pay more than book value just to get their hands on one, as these coins are incredibly rare and valuable.
With only 20 million made during its original run from 1856-1858, there aren’t many of them left in circulation today.
So when an opportunity arises to buy or sell a penny like this, you’ll want to take advantage immediately – they don’t come up often!
History
Understanding the history of a coin is an important part of being a numismatist.
When it comes to the 1858 Flying Eagle Penny, knowing its past can give you valuable insight into why it’s so sought after today.
It was first produced in 1856 as a replacement for large-sized copper and silver coins that had grown unpopular with consumers.
Over the course of two years, 20 million were made before production stopped in 1858, making them both rare and desirable.
With such limited availability, these coins are highly prized by numismatists and collectors alike – even if they have to pay above book value just to get their hands on one!
Collecting The 1858 Flying Eagle Penny
Moving on from the buying and selling of the 1858 Flying Eagle Penny, let us examine the collecting aspect. Collecting coins is a hobby that has existed since antiquity, as kings and rulers used to mint their own currency in order to control economic activity within their realms. As such, many collectors have found great joy in being able to acquire coins from various geographical locations or time periods for research purposes or simply for display. The 1858 Flying Eagle Penny holds an especially special place among numismatists due to its rarity and historical significance.
| Design Features | Historical Significance |
|---|---|
| Obverse: Head of eagle with wings spread out wide | First small cent issued after discontinuation of large cents |
| Reverse: Wreath encircling “ONE CENT” value | Issued during Abraham Lincoln’s Presidency |
| Edge: Plain | Minted at Philadelphia only |
The design features of this penny are particularly interesting – it displays an image of an eagle with its wings spread open wide on one side (obverse) while having “One Cent” surrounded by a wreath on the other side (reverse). Furthermore, it also has a plain edge which helps differentiate it from modern-day pennies. These design elements all contribute to making it stand out amongst other American coins, but more importantly they hint at its rich history and cultural significance. In addition, the fact that this penny was minted exclusively at Philadelphia during President Abraham Lincoln’s presidency makes it even more desirable for collectors.
A coin collector may spend years searching for rare specimens like these; thus putting together a complete set can be quite challenging yet incredibly rewarding when done right. With each new acquisition comes deeper appreciation and understanding of U.S history through our nation’s minted currency – something no true numismatist would ever pass up!
Frequently Asked Questions
What Is The Difference Between A Flying Eagle Penny And A Regular Penny?
The difference between a flying eagle penny and regular penny is stark. Like night and day, the two present a striking contrast in design, composition, rarity and value.
The 1858 flying eagle penny has an intricate obverse featuring Liberty with wings spread wide and a powerful reverse of an American bald eagle in full flight; whereas the common penny displays no such grandeur or symbolism.
In addition to being significantly rarer than your average penny, its metal content consists of 88% copper and 12% nickel alloy – making it much more valuable than its traditional counterpart.
As numismatists know, the beauty of these coins lies not only in their intrinsic worth but also within their timeless artwork- truly a sight to behold!
Are There Any Other Flying Eagle Pennies From Other Years?
Yes, there are other flying eagle pennies from different years.
The most common year is 1856, but the series includes coins from 1857-1858.
During those two years, a total of 11 varieties were produced with only minor differences between them.
As such, they’re highly collectible and can be quite valuable depending on their condition.
Numismatists often refer to these as Classic Head Flying Eagle Pennies due to their distinctive design.
Is There A Limit To How Many 1858 Flying Eagle Pennies I Can Collect?
Collecting coins is like a journey, and the 1858 Flying Eagle Penny is a treasure waiting to be discovered. As a numismatist, it’s important to ask questions about availability when considering which pieces should make up your collection.
In the case of the 1858 Flying Eagle Penny, there is no limit on how many you can collect – they all hold unique value due to their scarcity and history.
What Are The Most Common Places To Find A 1858 Flying Eagle Penny?
As a numismatist, finding 1858 flying eagle pennies can be an exciting endeavor. These coins are highly sought after and can often be found in:
- antique stores
- private collections
- flea markets
- coin shows
- even online auctions
While the best places to find these rare coins may vary depending on location and availability of buyers and sellers, it is important to remember that with some research one can always find a great deal for their collection!
Are There Any Counterfeits Of The 1858 Flying Eagle Penny?
Have you ever wondered if there are any counterfeits of rare coins?
The 1858 Flying Eagle Penny is no exception, as some counterfeit versions have been produced.
Numismatists must be especially vigilant when evaluating this coin, as the counterfeits can sometimes appear quite convincing.
Furthermore, it is important to closely examine all aspects of the side and edge design before determining its authenticity.
Conclusion
As a numismatist, I can say that the 1858 Flying Eagle Penny is one of the most sought-after coins by collectors.
It’s an incredibly rare coin and its value increases every year as fewer are available to purchase.
Collecting this penny isn’t easy though – it requires patience and dedication in order to find one in mint condition.
The good news is that there are still plenty of places where you can get your hands on one if you’re willing to look for it.
Just make sure that you stay vigilant and never buy a counterfeit.
With enough effort, you’ll eventually have your very own 1858 Flying Eagle Penny!
