One Cent 1823 Matron Head, Coin from United States - detailed information

The United States one-cent coin (often called a penny, from the British coin of the same name) is a unit of currency equalling one-hundredth of a United States dollar. The cent's symbol is ¢. It has been the lowest-value physical unit of U.S. currency since the abolition of the half-cent in 1857.

The earliest one cent coins were large and made of copper. The designs changed relatively often. There were three different types in 1793 alone, the Flowing Hair / Chain Cent, the Flowing Hair / Wreath Cent and the Liberty Cap Cent - the latter issued until 1796, after which came the Draped Bust type (1796 to 1807) and the so-called Classic Head Cent (1808 to 1814).

In 1815, no one cent coins were struck because the Philadelphia Mint could not order copper planchets from its supplier Boulton & Watt in England, due to the 1812-185 war between the United States and the United Kingdom. In 1816, the denomination was resumed with a new design generally known as the Liberty Head Cent (which is somewhat confusing, as all large cents had the head of Liberty on the obverse, only in different interpretations), or the Coronet Cent after the coronet (or diadem) that Liberty wears on this design. The obverse was re-worked a couple of times, with the different versions being known as the Matron Head Cent (1816 - 1836) - being the original design, then the Young Head with the portrait showing a somewhat younger Liberty (1837 - 1839), and finally the Braided Hair Cent (1839 - 1857). This first design is by Robert Scot or possibly John Reich.

The large copper format of the one cent denomination was discontinued by the Coinage Act of February 21, 1857 and was replaced by a smaller bronze coin. While withdrawn from circulation and not used any more, these coins have never been officially demonetised though.