Indian Head cent

Nevertheless, because of the constitutional clause making only gold and silver legal tender, the government would not accept copper cents for taxes or other payments.

[3] The Flying Eagle cent was issued in exchange for worn Spanish colonial silver coins, which until then had circulated widely in the United States.

The high points on both sides of the coin (the eagle's head and the wreath) opposed each other, and it was difficult to get the design to be brought out fully in the tough copper-nickel alloy.

[4] Mint Director James Ross Snowden suggested a head of Columbus as an obverse design, but Longacre felt the public would not approve of a historic figure on an American coin.

[d][9] According to Walter Breen, Snowden most likely chose the combination of the Indian Head and the laurel wreath because it had the lowest relief of any of the options, and could be expected to strike well.

[10] Longacre advocated his Indian Head design in an August 21, 1858, letter to Snowden: From the copper shores of Lake Superior, to the silver mountains of Potosi from the Ojibwa to the Araucanian, the feathered tiara is as characteristic of the primitive races of our hemisphere, as the turban is of the Asiatic.

These tales were apparently extant at the time, as Snowden, writing to Treasury Secretary Howell Cobb in November 1858, denied that the coin was based "on any human features in the Longacre family".

Later issues depict more accurate Indians, including Bela Lyon Pratt's Indian Head gold pieces (1908), the Buffalo nickel (1913) by James Earle Fraser, who worked from Native American models, and the Oregon Trail Memorial half dollar (1926), designed by Fraser and his wife Laura.

[14][15] Art historian Cornelius Vermeule had mixed emotions about the Indian Head cent: "Longacre enriched the mythology of American coinage in a pleasant if unpretentious fashion.

"[16] In another comparison, Vermeule suggested, "far from a major creation aesthetically or iconographically, and far less attractive to the eye than the [flying eagle], the Indian head cent was at least to achieve the blessing of popular appeal.

As issued for circulation, the pieces differ in some particulars from the pattern 1858 cent of similar design; Longacre sharpened some details.

According to Richard Snow in his guidebook to Flying Eagle and Indian Head cents, this was not due to problems with the "Laurel Wreath" reverse design used in 1859, as full details survive on many extant pieces.

Neil Carothers, in his work on small-denomination currency, challenged this decision as unnecessary—deprived of legal tender status, the remaining Spanish silver would have been eliminated through sales to banks for their bullion.

[20] In October 1860, The Bankers' Magazine and Statistical Register reported that there were ten million cents in commerce in New York City above what was needed, and if anyone wished to order in bulk, they could be purchased at a discount.

There were other means of making change which passed in the emergency, from postage stamps to privately issued tokens, but the public demand was for the cent—the Philadelphia Mint struck record numbers, and set aside part of the production to be transmitted to other cities.

Accordingly, with a small quantity of "nicks", a shopper could make purchases with exact change, without receiving such makeshifts as merchants' credit slips, that others might not accept at the stated value.

In his annual report submitted October 1, 1863, Lincoln Administration Mint Director James Pollock noted that "whilst people expect a full value in their gold and silver coins, they merely want the inferior [base metal] money for convenience in making exact payments".

[28] On March 2, 1864, Pollock wrote urgently to Chase, warning him that the Mint was running out of nickel and that demand for cents was at an all-time high.

Wharton had spent $200,000 to develop his mine and ore refinement machinery, Stevens related, and it was unfair to deprive him of the major use of his metal.

He was rebutted by Iowa Congressman John A. Kasson, chairman of the House Committee on Coinage, Weights, and Measures, who stated that the bronze alloy did not resemble brass, and he could not support the proposition that the government is bound to purchase from a supplier because he has spent money in anticipation of sales.

The legislation made base metal coins legal tender for the first time: both cents and two-cent pieces were acceptable in quantities of up to ten.

[34] The legislation did not allow for the redemption of the old copper-nickel cents; it had been drafted by Pollock, who was hoping that the seignorage income from issuing the new coins would help finance Mint operations, and he did not want it reduced by the recall of the old pieces.

[38] Pursuant to this act, over thirty million copper-nickel cents, of both the Indian Head and Flying Eagle designs, were redeemed; the Mint melted these for recoinage.

[48] The economic Panic of 1893 again caused a decrease in the number of cents produced, as coins accumulated in private hands were spent, creating a surplus.

[56] Writer and friend Witter Bynner recalled that in January 1907, Saint-Gaudens was seriously ill with cancer, and was carried to his studio for ten minutes a day to critique the work of his assistants on current projects, including the cent.

The centenary of the birth of assassinated president Abraham Lincoln would occur in February 1909, and large numbers of privately manufactured souvenirs were already being issued.

This was a break with previous American numismatic tradition; before the Lincoln cent, no regularly circulating U.S. coin had featured an actual person (as opposed to idealized personifications, as of "liberty").

[60] Indian Head cents were popular among coin collectors even in the half-century when they were produced; since then, with the growth of the hobby, interest has increased.

The 1930s introduction of inexpensive coin albums to house the series and encourage collectors to seek a complete set came at a time when the bronze version of the Indian Head cent was still common in pocket change.

They were not widely studied until the 1960s; numismatic writer Tom DeLorey, in his introduction to Snow's book, ascribes this to prejudice among numismatists who grew up with the Indian Head cent as a common circulation piece.

A Spanish colonial two-reales piece ("two bits") from the Potosí Mint (today in Bolivia)
Cornelius Vermeule thought the Indian Head cent was better than Longacre's 1859 pattern half dollar.
Cent-sized Civil War token , which was issued privately as federal coinage and was hoarded.
The 1877 Indian Head cent
1909-S Lincoln cent
Saint-Gaudens' model for the cent obverse: Liberty with an Indian headdress added, the design was later developed for the $10 piece.
'S' mint mark (designated with arrow) on the reverse of a 1908 S Indian head cent