 After a rise in commodity prices , the Mint to sought to replace the large copper cent with a smaller version . Beginning in 1850 , a number of pattern coins were struck in attempts to find a replacement coin . Designs and formats varied ; at first , Mint authorities considered an annular , or holed , cent . In 1854 and 1855 , much experimentation was done , some with a Liberty Head design as featured on the large cent ; others with a flying eagle design adapted by Longacre from the Gobrecht dollar of 1836 . Gobrecht 's design said to have been modeled on Peter the eagle , a tame bird which frequented the Philadelphia Mint in the 1830s until it was caught up in machinery and killed ; Peter , in stuffed form , was subsequently placed on exhibit at the Philadelphia Mint . 
