Have you ever wondered if that old penny tucked away in your drawer or coin jar might be worth more than just one cent? While most of us toss our loose change without a second thought, certain rare coins—particularly the 1857 Flying Eagle Penny—can be worth thousands of dollars to collectors. This short-lived coin, with its distinctive eagle design, has become one of the most sought-after treasures in American numismatics. In exceptional condition, these pennies can fetch upwards of $7,000 or even more at auction.
What makes this particular penny so valuable? Is there a chance you might own one? And how can you tell if your Flying Eagle Penny is worth a small fortune? Let’s dive into the fascinating world of this rare American treasure and discover what makes it so special.
The History and Significance of the Flying Eagle Penny
The Flying Eagle Penny represents a pivotal moment in American coinage history. Introduced in 1856 as a pattern coin and officially circulated in 1857-1858, this penny marked a significant transition from the large copper cents that had been used since the founding of the United States to the smaller, more economical coins we’re familiar with today.
By the 1850s, the price of copper had risen to the point where the large cent coins contained almost their face value in metal, making them impractical to produce. The U.S. Mint needed a solution, and Chief Engraver James B. Longacre designed the Flying Eagle Penny as the answer. Made of 88% copper and 12% nickel (giving it a distinctive lighter color than previous copper cents), the new coin was smaller and more economical to produce.
The obverse (front) of the coin features an eagle in flight, while the reverse displays a simple wreath surrounding the denomination “ONE CENT.” This design, though beautiful, proved difficult to strike properly, which contributed to its short production run and eventual replacement by the Indian Head Penny in 1859.
The Flying Eagle Penny’s brief two-year circulation period (plus the 1856 pattern coins) makes it naturally scarce compared to later penny designs that were produced for decades. Think of it as a brief shooting star in the night sky of American coinage—beautiful, significant, but gone in a flash.
What Makes the 1857 Flying Eagle Penny So Valuable?
Several factors contribute to the extraordinary value of the 1857 Flying Eagle Penny:
Rarity and Condition
While the U.S. Mint produced approximately 17.4 million Flying Eagle Pennies in 1857, relatively few have survived in excellent condition. Most were heavily circulated, and many were lost or damaged over the past 165+ years. The highest-graded specimens—those in Mint State 65 or above—are exceedingly rare, with only a handful known to exist.
The auction record for an 1857 Flying Eagle Penny in pristine condition (MS-66) stands at over $10,000. Even specimens in lower but still collectible grades can command prices from $100 to several thousand dollars, depending on their preservation state.
Historical Significance
As one of the first small-sized cents and part of a short-lived series, the 1857 Flying Eagle Penny holds special historical significance. It represents a transitional period in American coinage when the Mint was adapting to economic realities and changing production methods.
Varieties and Errors
Several varieties of the 1857 Flying Eagle Penny exist, some of which are particularly valuable to collectors:
- Snow-1 (S-1): Shows doubling on the date and lettering
- Snow-9 (S-9): Features a clashed die error
- Snow-3 (S-3): Shows repunched date
These varieties can significantly increase the value of an already collectible coin, with rare error coins sometimes selling for multiples of the standard version’s price.
How to Identify Your 1857 Flying Eagle Penny
If you think you might have this valuable coin in your possession, here’s how to properly identify it:
Step 1: Check the Date and Design
First, confirm that your coin is dated 1857 and features the Flying Eagle design. The obverse should show an eagle in flight, while the reverse displays a simple wreath surrounding “ONE CENT.”
Step 2: Examine the Size and Color
The Flying Eagle Penny is smaller than the large cents that preceded it (approximately 19mm in diameter) and has a distinctive light copper-nickel color rather than the reddish-brown of pure copper cents.
Step 3: Assess the Condition
The value of your coin is heavily dependent on its condition. Numismatists use a 70-point scale to grade coins, with higher numbers indicating better preservation:
| Grade | Description | Estimated Value (2025) |
|---|---|---|
| Good (G-4) | Heavily worn, major details visible | $20-30 |
| Fine (F-12) | Moderate wear, more details evident | $40-60 |
| Very Fine (VF-20) | Light wear with sharp details | $100-150 |
| Extremely Fine (EF-40) | Minimal wear with nearly all details | $200-300 |
| About Uncirculated (AU-50) | Very light wear, almost as struck | $400-600 |
| Mint State (MS-60) | No wear, some minor imperfections | $1,000-1,500 |
| Mint State (MS-63) | No wear, few minor imperfections | $2,000-3,000 |
| Mint State (MS-65) | No wear, exceptional eye appeal | $5,000-7,000 |
| Mint State (MS-66+) | Virtually perfect | $7,000-12,000+ |
Remember that these values are approximate and can fluctuate based on market demand, auction results, and other factors.
Step 4: Look for Varieties and Errors
Examine your coin carefully for any signs of die varieties or striking errors. Use a magnifying glass to check for doubling on the date or lettering, which could indicate a valuable variety. Pay special attention to the date, as repunched dates are among the most valuable varieties.
Step 5: Consider Professional Authentication
If you believe you have a high-grade 1857 Flying Eagle Penny, professional authentication is essential. Services like NGC (Numismatic Guaranty Corporation) or PCGS (Professional Coin Grading Service) can provide expert grading and encapsulation, which not only confirms authenticity but also preserves the coin’s condition.
Where to Find 1857 Flying Eagle Pennies
While the chances of finding an 1857 Flying Eagle Penny in circulation today are extremely slim, these coins do occasionally turn up in unexpected places:
Old Collections and Inheritances
Many valuable coins are discovered in inherited collections. If you have a relative who collected coins, it’s worth carefully examining any old pennies they may have saved.
Estate Sales and Auctions
Estate sales, auctions, and even garage sales can sometimes yield numismatic treasures, including Flying Eagle Pennies. Sellers may not always recognize the value of old coins, potentially allowing you to find a bargain.
Coin Dealers and Shows
Established coin dealers and numismatic shows are reliable sources for purchasing authenticated Flying Eagle Pennies, though you’ll likely pay market prices.
Online Marketplaces
Online platforms like eBay, Heritage Auctions, and specialized numismatic websites offer Flying Eagle Pennies, but exercise caution and only purchase from reputable sellers who provide proper authentication.
Tips for Preserving Your Valuable Coin
If you’re fortunate enough to own this numismatic treasure, proper handling and storage are crucial:
- Never clean your coin – This can significantly reduce its value by removing the original patina and potentially causing microscopic scratches
- Handle only by the edges – Oils from your fingers can damage the surface
- Store in an appropriate holder – Acid-free, PVC-free holders designed for coins are best
- Maintain stable environmental conditions – Avoid extreme temperature or humidity fluctuations
- Consider professional grading and encapsulation – This protects the coin while authenticating its grade
Think of your rare coin as a delicate butterfly wing—beautiful to behold but easily damaged by careless handling. The slightest mishandling can significantly impact its value.
Conclusion
The 1857 Flying Eagle Penny represents a perfect storm of numismatic desirability—historical significance, limited production period, distinctive design, and scarcity in high grades. While finding one worth $7,000 or more would require a specimen in exceptional condition, even moderately preserved examples can be worth significantly more than their face value.
Whether you’re a serious collector or simply curious about the potential value of old coins in your possession, understanding what makes the 1857 Flying Eagle Penny special provides fascinating insight into American monetary history. So check those coin jars, old collections, and family heirlooms—you never know what treasures might be hiding in plain sight!
FAQs About the 1857 Flying Eagle Penny
1. How can I tell if my Flying Eagle Penny is authentic? Authentic Flying Eagle Pennies should have the correct weight (approximately 4.67 grams), diameter (19mm), and composition (copper-nickel giving a light brownish color). The strike should be consistent with known examples, and the details should match official specimens. If you’re uncertain, professional authentication is recommended, as counterfeits do exist.
2. Why was the Flying Eagle Penny only produced for such a short time? The Flying Eagle design, while aesthetically pleasing, proved difficult to strike properly due to the opposing high points of the eagle on the obverse and the wreath on the reverse. This technical challenge led to its replacement by the Indian Head Penny design in 1859, which was easier to produce with full details.
3. Are Flying Eagle Pennies rare in all conditions? No, while high-grade specimens (MS-63 and above) are genuinely rare, the 1857 Flying Eagle Penny is relatively obtainable in circulated grades. Even in worn condition, however, these coins maintain collector interest due to their historical significance and the brief production period of the series.
4. How does the 1857 Flying Eagle Penny compare in value to the 1856 pattern coin? The 1856 Flying Eagle Penny, produced only as a pattern coin in limited quantities (estimated at around 2,000 pieces), is significantly rarer and more valuable than the 1857 issue. The 1856 pattern can command prices from $10,000 in lower grades to several hundred thousand dollars for pristine specimens.
5. Should I clean my Flying Eagle Penny if it looks dirty? Absolutely not! Cleaning is one of the quickest ways to destroy a coin’s numismatic value. Even professional conservation is controversial and should only be performed by experts. If you have a valuable coin, it’s best to leave it in its original condition and seek professional grading and authentication.