Does anyone have any insight into the actual origin of the term red cent?
I've heard several timelines and possible origins, including cardboard 1/10-of-a-penny coins early in the 20th century, the possibility of "red" meaning "Native (or First) American," and it having been literal in relation to the color of a pure-copper coin.
Best Answer
The "Indian head penny" was first minted in 1859:
However, it's clear that the term was being used well before the design was even conceived:
This was published in 1857, two years before the Indian penny. The term seems to have come about in 1839, two years after pennies switched from pure copper to "95 percent copper, and five percent tin and zinc".
The eagle design was used for those two years in between, but coins kept on breaking due to the design (which is why they switched).
The second coin from the left would have been in circulation when this phrase was coined:
Also note that the the person on the Indian coin is actually a Caucasian woman.