Large Copper Cents Replaced By Small Cents
Around the middle of the nineteenth century, the United States Mint faced up to the mounting problems of the one cent denomination
. They were increasingly unpopular with the public due to their size and weight. The coins were often considered filthy. Because the coins were not legal tender, they were often rejected by banks who would only accept silver and gold coinage. Sometimes the cents were accepted but only at a discounted rate. Finally, the rising cost of copper had made the large cent unprofitable for the mint to produce. It cost about $1.06 to produce 100 cents.In order to try to deal with the problem of large cents, several new compositions were considered. This included German silver, which consisted of copper, nickel, zinc, tin, and antimony and billon, which included 90% copper and 10% silver. The Director of the United States Mint eventually settled on a composition consisting of 88% copper and 12% nickel.
In addition to a change in composition, there would also be a smaller size and a different design. The design would feature an eagle in flight on the front of the coin and an agricultural wreath on the back with the denomination in the center. The designer of the coins was James B. Longacre, although the front of the coin was after an earlier version by Christian Gobrecht.
A large number of patterns were prepared for the new Flying Eagle Cents before official production for circulation would begin. There were some concerns that the new format would be rejected by the public, so these patterns were distributed to members of Congress and others for evaluation and approval. The pieces were ultimately accepted.
The public was enthusiastic about the release of the new coins. When they were first available for circulation in 1857, the Mint set up booths in the Mint yard in order to facilitate exchanges with the public. New Flying Eagle Cents were exchanged for old copper cents and foreign silver coins. The newspapers of the day provided coverage of the new design launch and called the coins "nickels" due to their composition.
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