The Goodwins were born in South Berwick, Maine, the children of Ebenezer and Polly (Fernald) Goodwin. There were six children: Ivory (1808-1868), Mary (1810-1891), Ebenezer (1815-1877), Mark (1817-1875), Charles (1821-1884), and William (1824-1871).

All aspiring businessmen, the brothers attempted a variety of different business ventures. Ivory worked into the lumber business in Bangor, Maine. Ebenezer (Eben) partnered with his brother Mark to build ships in South Berwick. Charles was first a flour merchant and then a cracker merchant in New York City, New York. But it was the 1859 partnership between William and Eben and a "patent pressed" chewing tobacco that led to the brothers' most successful endeavor, Goodwin & Co., located on Water Street in New York City.

In 1876, Goodwin & Co. began selling hand rolled cigarettes. In 1877, after the deaths of both William and Eben, the leadership of the company passed to William's widow, Addreatta (b. 1828), and Mary's son, Charles Goodwin Emery (b. 1836). The company purchased the trademarks of several Utica, New York cigarette brands including "Old Judge" which would become the company's top seller.

In the 1880s, companies began to insert a cardboard stiffener into the cigarette packages to prevent damage during transit. It soon became commonplace for cigarette companies, like Goodwin & Co. to replace the blank stiffener with a printed card that advertised the company's products. Many of these cards included landscape scenes and pop culture images, including actresses, boxers, and baseball players. The largest group of baseball player images was issued by Goodwin & Co. for both its "Old Judge" and "Gypsy Queen" lines.

Goodwin & Co. would continue production until 1890 when, due to increased competition, the decision was made to merge with Duke, Allen & Ginter, Kinney, and Kimball to form the American Tobacco Company with Charles Goodwin Emery in the role of treasurer. With this merger, the company ceased production of the cards.