A Coronet Head Large Penny Set: 1839-57
Private
Updated:
2/2/2026
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"That's when a penny was worth something," cliche, sure; but the purchasing power of that penny in 1850 is just under fifty cents (in today's money) then. It is little wonder that the survival of these coins in higher grades is pretty low. These were used in daily commerce. A twenty dollar gold double eagle had the purchasing power of more than $800 in today's money. Given that the average manufacturing wage was less than a dollar a day (twelve hour day. 365 days per year) a penny then wasn't a lot of money, but it was significant for most working people. A double eagle was more than the majority of Americans would see in month. That also says something about the comparative standard living between today and 1850. Pretty much we have far greater material wealth, while the value of the money has declined, meaning the penny at some point won't be of value in commerce, and probably the nickel and dime will so follow.
The idea of a penny is an old one. Barbara Tuchman in her book "A Distant Mirror" about the 14th Century describes the currency of that century and how the equivalencies were created in a "A Note on Money" on page xx of the Forward. The book itself is an interesting history of a century that gave rise to many things that shaped modern times; and the economics of that era.
Steven Speilberg made a movie in 1997 that portrayed events concerning a Spanish Schooner named Amistad (movie of the same name) in which enslaved people took the ship in an insurrection. They were captured off Cuba and tried in the US courts for their acts. John Quincy Adams, then retired President and member of Congress defended them and because they were not born into slavery US law protected them as people, not subjagated them to merchandise because of the statute of 1807 they were free. That occurred in 1839, the date that the first of these large cents was minted.
A replica of the Amistad is at anchor in Mystic Harbor in Rhode Island, the image at the left, ia an artist's recreation of the events of 1839 that gave rise to the now famous litigation.
This set is complete, but will likely be upgraded to make it more competitive. I doubt it will ever be the top set in the category, but I'll keep improving it when I can.
This set was born on July 3, 2024.
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