The 1857-P Flying Eagle Cent, often referred to as the “Small Cents” or “Large Letters” variety, is a key coin in American numismatics. As one of the first issues in the U.S. Mint’s transition from large copper cents to smaller-sized coins, this coin holds a special place in both the history of U.S. coinage and the hearts of collectors. Featuring a distinctive design and historical significance, the 1857 Flying Eagle Cent is an essential piece for those interested in early American coinage.
The Transition to the Flying Eagle Cent
Before 1857, U.S. coins were still struck in large sizes, particularly the cent. However, in the early 19th century, inflation, and the rising cost of metals used in coin production made larger copper coins impractical. The U.S. Mint faced difficulties due to the cost of copper and silver, which led to the need for a smaller, more affordable cent coin. To address these challenges, the Mint introduced the Flying Eagle Cent in 1856 as part of a broader effort to modernize the nation’s coinage system.
The Design of the 1857-P Flying Eagle Cent
The 1857 Flying Eagle Cent features a distinctive design that sets it apart from other U.S. coins of the time. The obverse of the coin features a soaring eagle with outstretched wings, symbolizing liberty and freedom. The eagle is surrounded by the words “UNITED STATES OF AMERICA,” with the date, 1857, positioned below.
Mintage and Rarity of the 1857-P Flying Eagle Cent
The mintage of the 1857-P Flying Eagle Cent was approximately 24 million coins, a relatively high mintage for its time. Despite this large number, the coin is considered scarce today in higher grades due to the wear and corrosion it endured during circulation. The coin’s copper-nickel composition also means that many examples were subjected to harsh conditions, leading to significant wear over time.
Value and Collectibility
The value of the 1857-P Flying Eagle Cent depends on its condition, rarity, and specific variety. Coins with the “Large Letters” variety tend to fetch higher prices than the “Small Letters” version. The condition of the coin plays a significant role in determining its value; coins with minimal wear or those that are in uncirculated condition are particularly valuable.
Historical Significance
The 1857-P Flying Eagle Cent played an important role in the modernization of U.S. currency. Its transition from the large copper cent to a smaller, more practical coin marked the beginning of a new era in American coinage. The Flying Eagle Cent was also the first small cent made from the copper-nickel alloy, setting the stage for future coin production, including the Indian Head Cent that would follow in 1859.
Conclusion
The 1857-P Flying Eagle Cent, with its iconic design and historical significance, is a coin that holds great appeal for collectors. Whether in the more common “Small Letters” variety or the rarer “Large Letters” version, this coin remains a symbol of America’s evolution in both its coinage and its identity. Its beautiful design, coupled with its rarity and connection to the early days of modern U.S. currency, makes the 1857 Flying Eagle Cent a valuable and treasured piece in any collection.
FAQs
1. What is the difference between the Large Letters and Small Letters varieties of the 1857 Flying Eagle Cent?
The Large Letters variety features larger, more spaced-out lettering on the reverse, making it rarer than the Small Letters version, which has smaller, more compact letters.
2. How much is the 1857-P Flying Eagle Cent worth?
The value of the 1857 Flying Eagle Cent varies by condition and rarity. Coins in lower grades may range from $50 to $100, while higher-grade examples, particularly with Large Letters, can fetch $500 or more.
3. Why is the 1857 Flying Eagle Cent historically significant?
The 1857 Flying Eagle Cent marked the transition from large copper cents to smaller, more practical coins. It was also the first U.S. small cent struck from copper-nickel, setting the stage for future coin designs.