Small Cents vs. Large Cents: History Of The Most Popular U.S. Penny (The Small Cent) First Struck In 1856 + A List Of Rare Small Cent Pennies


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Where were you in 1856? OK, consider that a trick question.

But can you tell me where the small penny was in 1856?

If you answer that with “first being minted for mass circulation” — you’d be right!

The U.S. small cent was officially struck for the first time in 1856.

Below, we’ll explore the interesting history of the small penny (3⁄4 inch diameter, or 19.05 mm) and list some of the rare pennies that you’ll want to search your pocket change and coin dealers’ cases for…

 

Why The U.S. Penny Is Called A Small Cent

We call the pennies of today a small cent because the U.S. Mint also made large cents — which were 1​-1⁄8 inch diameter (28.57 mm).

Large cents preceded the smaller one-cent denomination.

The large penny was the first U.S. one-cent denomination coin. It was  struck from 1793 to 1857 and had many different designs.

As inflation was making the value of the penny go lower, people were having less tolerance for carrying around so many large cents.

Hence, the end of the large cent and the beginning of a legacy of small pennies that continues to this day.

 

The Flying Eagle Cent Started It All (1856-1858)

The first small penny to be officially struck for circulation was the 1856 Flying Eagle cent.

The Flying Eagle cent didn’t last long as a design (it was last was struck in 1858) — but it will forever hold the distinction as the first small cent produced in the United States and is a favorite coin among collectors.

Today, due to the coin’s very short, 3-year run, Flying Eagle pennies are often collected along with Indian Head cents — which came after the Flying Eagle pennies in 1859.

Flying Eagle cents usually cost around $30 to $50 for a decent, worn specimen. Corroded and damaged examples cost much less.

 

The Indian Head Penny Came Next (1859-1909)

In 1859, the small penny began a 50-year journey with the Indian Head cent.

It’s safe to say that the Indian Head cent has grown to enjoy a near-legendary status in American lore. Nearly everybody knows of the Indian Head cent, and (even more importantly for the series) nearly everyone wants to have an example of this coin!

In general, you’d have to have gray hair to remember a time when finding an Indian penny in pocket change was a reasonable possibility.

While the last Indian Head penny was minted in 1909, it was still a fairly common occurrence to spot Indian cents in circulation right into the 1950s and 1960s.

Today, finding an Indian Head penny is a rare and novel find in circulation (though some still do turn up), so most people looking for an example of their own have to turn to coin dealers to buy one.

Even still, an Indian Head cent is not, in and of itself, a rare coin. Many were made by the millions. Worn specimens can be bought for under $5.

 

Then Began The Many Versions Of Lincoln Cents (1909-Present)

And now we come to the Lincoln cent — the longest running obverse design in United States coinage history.

First minted in 1909, the Lincoln cent has grown to become an icon all its own. People around the world recognize the Lincoln penny, and nearly everyone alive in this nation today was born during the series’ run.

When the first Lincoln cents were struck by the United States Mint, millions of Americans applauded the coin commemorating a man who kept our nation whole during the Civil War and proclaimed the freedom of millions of slaves before being assassinated in 1865.

Yet, for all the public admiration of the new Lincoln penny, there was also some public discourse over the coin. Primarily, outcry came from those jeering the prominent display of designer Victor David Brenner’s initials — VDB — on the reverse (tails side) of the coin.

The U.S. Mint quickly removed the initials before restoring them elsewhere on the coin in 1918. Today, you can still see a tiny inscription of VDB just under Lincoln’s shoulder. The 2 wheat stalks remained on the coin’s reverse until 1958.

 

The Lincoln penny has seen other changes over the years:

  • In 1943, the Lincoln cent was produced in steel to help ration copper for the war effort.
    This is a 1943 Lincoln steel cent.
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  • In 1959, the coin’s original reverse design (2 wheat ears) was replaced with an image of the Lincoln Memorial.
    This is a 1959 Lincoln cent - the first year the Lincoln Memorial appeared on U.S. pennies.
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  • In 1982, the composition of the Lincoln penny was changed from primarily copper to mostly zinc, with a thin outer copper plating.
    This is a 1982 Lincoln cent - the year the penny was changed from primarily copper to mostly zinc, with a thin outer copper plating.
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  • In 2009, in honor of the 200th anniversary of Abraham Lincoln’s birth, Lincoln Bicentennial pennies were released into circulation with 4 different reverse designs showing scenes of Abraham Lincoln throughout his personal and professional life. This was the first year since 1958 (when wheat pennies ended) that the reverse of the coin did not have a design of the Lincoln Memorial on it.
    These are the 4 designs that appear on the back of the 2009 Lincoln Bicentennial pennies.
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  • In 2010, the reverse design on the Lincoln penny was changed to a shield. The shield represents President Lincoln’s ability to maintain the Union even during the Civil War — which threatened to rip our nation in two.
    This is the 2010 Lincoln Shield penny - the first year the shield appeared on U.S. pennies.
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Future Of The U.S. Penny

It’s pretty hard to imagine the world without the Lincoln cent.

Of course, pennies also have their naysayers — and some people would like it gone.

Why? For these reasons:

The Lincoln cent has seen its glory days. Once capable of singlehandedly buying candy, getting people into  arcades and parlors, and serving as token payment for any number of trinkets and treats, the U.S. penny today is snubbed by many.

Yet, despite frequently being discarded in the trash, considered unworthy of being picked up off the sidewalk, and disregarded as monetarily worthless by scores of people, the Lincoln cent still manages to live another day!

Having survived numerous attempts of elimination from the American monetary system, the Lincoln penny continues to face threats — due to rising production costs.

And despite the fact that many Americans have been railing against the one-cent coin for years, (and some lawmakers have been very interested in trying to eliminate the U.S. penny altogether), what politician, group, or administration really wants to be responsible for removing from our nation’s economy an historically beloved coin that is produced by the billions each year and continues to honor a man widely considered to be the greatest president ever to serve our nation?!

While  it’s anyone’s guess as to how much longer the U.S. penny has a life as a circulating coin, the significance of this iconic coin is unquestionable — and the love and gratitude our nation has for the man depicted on the coin is undying.

A penny saved is a penny earned — Benjamin Franklin

Who knows?… Perhaps the steel penny will return!

After being made in 1943, steel pennies may again appear in your pocket change — because there is a lot of concern over how much the U.S. government is spending to make copper-coated zinc pennies.

It costs more to make a penny than the coin is actually worth!

This is leading some officials to call for a new steel penny with copper coating to reduce the cost of making the one cent coin.

NOTE: Talk of changes to the nickel (made mostly of copper) is also abuzz.

 

A List Of Rare Small Cent Pennies

Many pennies are worth far more than a single cent. In fact, there are several that will bring you hundreds of dollars… or more!

This list isn’t inclusive of all the scarce pennies, but it’s a good look at the most valuable and rare pennies that coin collectors search for:

  • 1856 — $6,500
  • 1877 — $800
  • 1888/7 — $2,600
  • 1909-S (Indian Head) — $475
  • 1909-S VDB (Lincoln) — $750
  • 1909-S (Lincoln) — $100
  • 1914-D — $225
  • 1922 plain — $700
  • 1931-S — $100
  • 1943 copper (Extremely Fine) — $50,000 to $100,000
  • 1944 steel (Mint State) — $100,000
  • 1955 doubled die — $950
  • 1969-S doubled die (Mint State) — $50,000

*Values are for coins in Good-4 grade unless otherwise indicated.

55 thoughts on “Small Cents vs. Large Cents: History Of The Most Popular U.S. Penny (The Small Cent) First Struck In 1856 + A List Of Rare Small Cent Pennies”

  1. i am a collector since i was 13 years old i have 2- 1858 flying eagel pennys in vf condition also indian head pennys -wheat pennys-two cent pieces-three cent pieces-shield nickels-v nickels-buffalo nickels-barber dimes-mercury dimes-morgan silver dollars-peace silver dollars and the list goes on and on cowboy.rowen[email protected]

    Reply
    • Hi, John —

      Thanks for stopping by The Fun Times Guide to Coins! Please feel free to check out our other posts to see how much all of your coins may be worth!

      Reply
    • Neat find, Devin! 1943 steel cents are common but very popular pieces because they were made from zinc-plated steel to conserve copper for the war effort. Each is worth typically worth 10 to 25 cents.

      Reply
  2. i have a 1943 pennie its not copper nor silver but brass looking almost like gold is that possible it has not been circulated and from what i was told by a coin shop tamperd with but they havent sen anything like it before do u know what it is?

    Reply
    • Branu —

      Does your 1943 penny stick to a magnet? If it does, it’s a regular 1943 steel cent that was coated with another metal, perhaps brass or even gold plating (but gold plating adds perhaps only a few cents to the value of the coin)

      If it doesn’t stick, it sounds like you have a brass replica of a 1943 copper penny.

      Reply
    • Turtleboy, a worn 1969 penny has around 3 cents’ worth of copper, but it can’t be legally melted. So, effectively, it’s worth just one cent.

      Reply
    • Yes, Vamorse – assuming that your 1851 has a typical amount of wear and has no damage (meaning, no holes, bends, discoloration, or signs of cleaning), then your coin is worth at least $12 to $15.

      Reply
  3. My uncle has a penny (not sure what year yet) but it has Lincoln saying “Four score and.”  Any idea what that would be worth?

    Reply
  4. I have a 1975 lincoln penny that has 1976 stamped on the front coverin the whole fron of the penny is this worth money and keeping??

    Reply
  5. I have a 1975 D penny that has covering the whole front of the penny in giant numbers 1976, is it worth anything or something someone did after it was minted?

    Reply
    • Roy, it sounds like you have a novelty bicentennial penny. The 1976 date was added by a private minting company. Such pieces have nominal value, perhaps 50 cents to $1. 

      Reply
  6. I DONT UNDERSTAND WHAT 1888/7 MEANS.  I HAVE AN 1888 WHEATBACK INDIAN HEAD PENNY BUT MY UNDERSTANDING IS THAT THE WHEATBACK DIDNT DEBUT UNTIL 1909.  CAN ANYONE EXPLAIN THESE THINGS FOR ME PLEASE? (THE 1888/7  AND THE 1888 WHEATBACK?)

    Reply
  7. im sorry, it isnt a wheatback penny but it is an 1888 indian head…  still have the question of what does 1888 over 7 mean?  does that mean an 8 was struck over the 7 by mistake or does it mean something else?

    Reply
    • Sherry,

      You’re right, the United States produced 2-cent coins from 1864 through 1873. Would you please post a pic of your coin here in the comments forum so we can take a look at it and try to identify your piece? Thanks!

      Reply
  8. Was beginning to feel ancient tonight at dinner tonight with several friends when old money was brought up and no one remembered the red and green mills.  Were they only used in Missouri? All folks from out east never heard of them and there were some people there older than me!!!!!   Would like come comments….Thanks, Sharon

    Reply
  9. My father in law passed away recently and he had me hold onto his coin collection. My question is… I came across a 1903…2.5 penny. I can not locate any info on the internet about this specifc coin. It is in pristine condition.  Can you provide any information regarding this coin

    Reply
    • Jbrophy,

      Would you please post a pic of your coin here in the comments forum? Perhaps we can determine what type of coin you’re in possession of and what it may be worth.

      Reply
  10. I have a Double Clash 1976 penny. It has the Lincoln Memorial on the obverse side (on top of Abe’s face) , and another Lincoln Memorial on the reverse side (on top of the Linc Mem that should be there)

    Is this coin worth anything?

    Reply
  11. Wheatback Lincoln pennies didn’t debut until 1909 and they replaced the wheatback indian head pennies. Wheatback indian head pennies debuted in 1859 and are worth a little bit more then wheatback Lincoln pennies. I can’t tell you what 1888/7 means though.

    Reply
    • Hi, Hope –

      The 1888/7 refers to an 1887 Indian Head cent coin die (the device that imprints an image upon a coin) that was overwritten so it would produce 1888-dated pennies.

      Reply
  12. Hi, Fernando —

    What you have is a tiny replica penny likely made for a child’s play set. Tiny coins sometimes do have a nominal novelty value (25 to 50 cents) among those who collect exonumia, or coin-like collectibles.

    Best,
    Josh

    Reply
  13. Have this 1976 D cent. I’ve taken it to my local coin store and they couldn’t tell me anything nor can I find anything on the internet. What is your opinion? The maroon color is the original die it seems. My hypothesis on this is simply because the only parts of the coin that show any other color are where there is wear. I’m stumped.

    Reply
    • Hi, Josh —

      This looks like a 1976 cent that was originally toned pretty deeply, but I think somebody must have had some type of caustic agent on their hands when they grasped this coin between their thumb and forefinger. It appears that the typical contact areas of this coin (high points, unprotected areas of the field) were touched by perhaps vinegar or another acidic agent.

      As for value, this coin is worth about two cents for its copper.

      Thank you for your question on this interesting find!

      Best,
      Josh

      Reply
      • Thank you. I am also curious about this one. I did take it into my local coins and collectibles and found out quite abit of information but I still need more if possible. The cent has no mint mark, and also has a letter drop on the outer right rim. The letter is tricky depending on the angle. Another thing I noticed is the 4 in the date is a bit thicker than the 1,9 and 8. Could just be wear. I have heard of these things happening, I’ve never seen one. https://uploads.disquscdn.com/images/8be4f5f5d8d3bbe3fe8babdc7f6d2e0a9c942d79688d1cbcd6fd8fe02b643c68.jpg Any input would be greatly appreciated.

        Reply
        • Hi, Josh —

          In the photo, I don’t see any doubling in Lincoln’s ear or under his chin as is the case with doubled dies. I do see a possible die chip on the rim, near the “4” in the date. Such a piece may be worth $1 to $2.

          I hope this helps provide some answers to your questions!

          Best,
          Josh

          Reply
  14. Josh Hamilton JoshuaTheFunTimesGuide 3 hours ago
    Thank you. I am also curious about this one. I did take it into my local coins and collectibles and found out quite abit of information but I still need more if possible. The cent has no mint mark, and also has a letter drop on the outer right rim. The letter is tricky depending on the angle. Another thing I noticed is the 4 in the date is a bit thicker than the 1,9 and 8. Could just be wear. I have heard of these things happening, I’ve never seen one.
    Thumbnail
    Any input would be greatly appreciated.

    Reply

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