Credit Talk USA Live - The New Penny

When the United States Mint was created in 1792, one of the first coins it made the following year was the one-cent coin, and it looked very different from the modern version. The image on the first cent was of a lady with flowing hair, who symbolized liberty. The coin was larger and made of pure copper, while today's smaller cent is made of copper and zinc.
In 1857, Congress authorized the United States Mint to strike the cent with 88 percent copper and 12 percent nickel. The "shape and size" would be determined by the United States Mint Director, with the approval of the Treasury Secretary. The new cents showed a flying eagle on the front and a wreath on the back. The act of February 21, 1857, also mandated that people could no longer use coins from other countries, a practice that had been necessary because of a lack of domestic coinage.