What is the 1856 flying eagle coin?
The 1856 Flying Eagle cent is a very rare and very expensive coin in the U.S. It may look like an old penny, but this small coin can sell for up to $7,000, or higher if it is in mint condition.
Not many people know anything about this coin, yet collectors love it. If you happen to find one in a dusty old box, garage sale, or attic storage bin, you may be the lucky recipient of a small fortune.
Why is the 1856 flying eagle coin so rare?
This coin is extremely rare because it was the first small-sized penny ever made in America.
Pennies were larger before 1856. They were nearly as big as a half dollar. These “large cents” were made from 1793 to 1857.
The Flying Eagle design was a huge size and design change. For the first time, a penny was similar to pennies today. And because the U.S. Mint produced very few of these coins in 1856, they are extremely difficult to find.
How many were issued?
As many as 1,000 Flying Eagle coins were produced in 1856. They weren’t being produced to enter into normal commerce. Most of them were created to test the new design, and they were distributed to lawmakers and collectors.
Because so few were manufactured, the 1856 issue is much rarer than those that were made in 1857 and 1858. That is why it is worth so much cash.
How much is today’s worth of the coin?
The 1856 Flying Eagle penny is worth more than $6,700 even when it’s worn or in poor condition. When the coin is almost as good as new as a freshly minted coin can look (what collectors call “mint condition”), it’s worth more than $24,000 or more.
These are expert estimates like those of the Professional Coin Grading Service (PCGS), which track prices and grade coins for collectors and investors.
What about the 1857 and 1858 flying eagles?
After the test pieces of 1856, the U.S. Mint started minting Flying Eagle coins for use in 1857 and 1858. The coins are not really so rare but are still worth collecting.
The Mint made over 40 million Flying Eagle coins from 1857 to 1858. Even though these coins don’t sell for thousands of dollars like the type of 1856, they are worth something too.
If it’s in good condition, a 1857 or 1858 Flying Eagle is worth approximately $30 to $50.
If it’s in excellent condition, it could be worth hundreds of dollars or more.
The special varieties of 1858
The U.S. Mint produced three variations of the Flying Eagle penny in 1858:
1. Large letters version
2. Small letters version
3. “8 over 7” error version
The “8 over 7” error coin is also highly valued by collectors. This is where a digit “7” was stamped in error and then covered up with an “8.” This is a mint error type that renders the coin highly valuable.
If you have one of these “8 over 7” error coins in mint condition, then it can be worth well over $12,000.
How to know if you have a genuine flying eagle coin
To discover if and when you have one of these highly coveted coins, examine the year on the obverse (front) of the coin. You’d want 1856, 1857, or 1858.
Look next at the reverse (back) of the coin. You should be able to notice a wreath design. The coin will be smaller than the large cents that preceded it.
And look for the eagle in flight on the front, the reason that the coin is so named. The eagle should be flying to the left, wings wide apart.
If you do have one that meets all of this, and particularly an 1856 coin, it’s time to have it graded by a coin expert.
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Where to find these coins
Even though they’re not so abundant, Flying Eagle coins do exist in locations such as:
- Antique collections
- Estate sales or estate auctions
- Old storage drawers or bins
- Garages, attics, or basements
- Family treasures or grandparent treasures you inherited
Don’t throw away old coins without examining them more closely. That old penny in the drawer could be worth thousands of dollars.
If you believe you have a Flying Eagle coin—especially of 1856, then do the following:
1. Don’t clean it. A cleaned coin will be ruined and its value lost.
2. Handle it gently. Put it on some soft surface or in a small coin album.
3. Have it graded professionally. Bring it to a coin dealer or grading service like PCGS or NGC.
4. Have it graded. Grading will tell you the quality of the condition and what the proper price should be.
5. Check the value. Examine auction sales, eBay sales, and coin price guides.
Are Flying Eagle coins legal money?
They are, Flying Eagle pennies are legal tender in the United States. That is, you theoretically could use one to buy something—but you’d be a fool to do it.
Using a coin worth $7,000 to buy a candy bar is not smart. It’s better to sell it to a collector or dealer who knows its real value.
Where to buy or sell these coins
If you’re interested in buying or selling Flying Eagle coins, here are a few good places to start:
- Certified coin dealers
- Coin shows and conventions
- Online platforms like eBay or Heritage Auctions
- Local coin clubs
Just be a little careful when purchasing online. Ensure the seller is reliable and the coin was graded by a quality service.
Most important things to remember
- The 1856 Flying Eagle penny is extremely scarce and can be sold for $7,000 or more.
- It was the first small-sized penny ever produced in the U.S.
- Only around 1,000 were minted, primarily as test pieces.
- 1857 and 1858 coins are more common but remain valuable.
- The “8 over 7” 1858 error coin will fetch more than $12,000.
- They’re still legal money, though—don’t spend them!
- Always call a coin specialist first to sell or buy.
