The 1856 Flying Eagle penny stands as a testament to numismatic history, captivating collectors with its rarity and historical significance. This coin, often fetching prices upwards of $25,000, could be the hidden gem in your collection.
A Brief History of the Flying Eagle Penny
Minted between 1856 and 1858, the Flying Eagle cent marked the U.S. Mint’s transition from large copper cents to smaller, more practical coinage. The obverse features a detailed eagle in flight, while the reverse showcases an ornate wreath encircling the denomination “One Cent.” This design was a departure from previous motifs, reflecting a modernization of U.S. coinage.
The 1856 Edition: A Rare Treasure
The 1856 Flying Eagle penny was initially produced as a pattern coin to demonstrate the new design to Congress and other dignitaries. Approximately 634 specimens were distributed for this purpose. Due to its limited mintage and historical context, the 1856 edition is highly coveted among collectors.
Value Assessment: How Much Is the 1856 Flying Eagle Penny Worth?
The value of an 1856 Flying Eagle penny varies significantly based on its condition and rarity. Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation and, consequently, higher value.
| Grade | Estimated Value Range |
|---|---|
| Good (G-4) | $6,500 – $7,000 |
| Fine (F-12) | $11,250 – $13,500 |
| Extremely Fine (EF-40) | $13,500 – $18,000 |
| Uncirculated (MS-63) | $18,000 – $20,000 |
Note: These values are approximate and can fluctuate based on market demand and specific coin characteristics.
Recent Auction Highlights
The 1856 Flying Eagle penny continues to break records in numismatic auctions. In December 2024, a specimen graded Proof 67+ by PCGS sold for an astounding $312,000, setting a new benchmark for this coin type.
Identifying Authentic 1856 Flying Eagle Pennies
Due to its high value, the 1856 Flying Eagle penny is often counterfeited. To ensure authenticity:
- Weight and Dimensions: The coin should weigh approximately 4.67 grams and have a diameter of 19 millimeters.
- Design Specifics: Examine the eagle’s feathers and the wreath’s details for consistency with known authentic specimens.
- Professional Grading: Consulting with a reputable coin grading service can provide certification and peace of mind.
Preservation Tips for Optimal Value
Maintaining the coin’s condition is crucial for preserving its value:
- Proper Storage: Store the coin in a climate-controlled environment, away from humidity and temperature fluctuations.
- Handling: Always handle the coin by its edges and consider wearing gloves to prevent oils from your skin from causing damage.
- Avoid Cleaning: Cleaning can diminish the coin’s value; it’s best to leave it in its natural state.
The 1856 Flying Eagle penny is more than just a piece of currency; it’s a slice of American history and a prized possession for any collector. Its rarity and the stories it carries make it a valuable asset, both monetarily and historically.
FAQs
Why is the 1856 Flying Eagle penny so valuable?
Its limited mintage and historical significance contribute to its high value.
How can I determine the grade of my 1856 Flying Eagle penny?
Consulting a professional coin grading service is recommended for accurate assessment.
Are there counterfeit 1856 Flying Eagle pennies?
Yes, due to its value, counterfeits exist. Authenticity can be verified through professional grading services.
