In excellent condition, a 1857 flying eagle penny is worth between $200 and $300. However, the value of a coin can vary depending on its grade, condition, and rarity. A coin that is graded "Mint State" (MS) will be worth more than a coin that is graded "About Uncirculated" (AU) or "Extremely Fine" (XF). Similarly, a coin that is free of any damage or wear will be worth more than a coin that has been scratched, dented, or otherwise damaged.