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On February 12, 1959, the Lincoln Memorial design on the U.S. penny went into circulation. It replaced the wheat penny. From the article:
"Lincoln Wheat Cent (1909 – 1958)
In 1909, the Indian Head American penny was discontinued in favor of the Lincoln penny, which commemorated the 100th birthday of President Abraham Lincoln. President Roosevelt considered Lincoln the savior of the Union, the greatest Republican President, and also he considered himself Lincoln's political heir. He hired designer, Victor David Brenner who was a Lithuanian immigrant and a friend of Roosevelt, who knew him as a skilled engraver and designer. Brenner paid the martyred president a lasting tribute, in the form of a sympathetic obverse portrait of Abraham Lincoln. The Lincoln Penny became commonly known as the “Wheat Penny” because the reverse featured two stalks of wheat on the reverse. The Wheat Cent design was coined until 1958 when the reverse was changed to the Memorial design. The Lincoln penny is now the longest-running design in United States Mint history. Abraham Lincoln was the first historical figure to grace a U.S. coin when he was portrayed on the one-cent coin to commemorate his 100th birthday. The Lincoln penny was also the first U.S. cent to include the words "In God We Trust."
Brenner’s obverse design featured a portrait of Lincoln facing right, and the motto IN GOD WE TRUST, for the first time on the cent. Flanking Lincoln’s bust on the left was the inscription LIBERTY, with the date on the right. The reverse design showed two sheaves of wheat, one on either side, framing the inscriptions ONE CENT, E PLURIBUS UNUM and UNITED STATES OF AMERICA.
The first Lincoln pennies prominently displayed the initials of the artist, “VDB” at the base of the reverse side. The 1909 VDB penny made its commercial debut on August 2, 1909. On that day, small boys, pint-sized entrepreneurs with pockets full of shiny new pennies, became impromptu street corner coin dealers.
They offered three new Lincoln pennies for a five cent nickel. However, there were massive public outcries that the “VDB” initials was a tasteless self-advertisement, which prompted the U.S. Mint to quickly remove the designer’s initials. Production was stopped with only 484,000 coins struck at the San Francisco mint. As a result, the Lincoln S-VDB penny is one of the rarest and most coveted coin in the series.
The Lincoln cent was an instant success from the day it was released. People lined up for city blocks just to get a couple examples from their local banks. In fact, Lincoln pennies were already selling for more than face value in the weeks immediately after their release, and there simply weren’t enough available from banks and the U.S. Mint to satisfy the demand!
Lincoln Steel Cent (1943)
In 1943, there was an urgent need for copper to make munitions for the war effort during World War II. That year the copper was removed from the penny and zinc-coated steel cents were made for the first and only time in history. The Philadelphia, Denver, and San Francisco mints each produced these 1943 Lincoln cents. Copper returned to the U.S. penny in 1944, and the Lincoln penny contained mostly copper until 1982.
The 1943 steel cent had a bright white chrome like appearance and had magnetic properties. It is the only regular-issue United States coin that can be picked up with a magnet. The steel cent was also the only coin issued by the United States for circulation that does not contain any copper. All other U.S. coins have some copper, even gold coins at various times contained from slightly over 2% copper to an eventual standardized 10% copper.
The 1943 cent was nicknamed “steelies,” these coins caused confusion because they closely resembled dimes; they also rusted and deteriorated quickly. The public soon complained that the new coins were becoming spotted and stained. As the 1943 steel pennies circulated, the zinc coating started to turn dark gray and almost black. If it was in circulation long enough, the zinc coating completely wore off, and the steel underneath would start to show through. When exposed to moisture the penny would start to rust. This was because zinc and iron form an electromagnetic "couple"; the two metals soon corrode when in contact with each other in a damp atmosphere.
In 1942, the U.S. Mint took all but a trace of tin out of the cent alloy, which technically changed the metal from bronze to brass. Because the Mint had a supply of existing (bronze) coining strip already prepared from the previous year, they accidentally made 1943 Lincoln pennies on bronze planchets. Today, 1943 Cents on Bronze Planchets rank among the most desirable and valuable of all Mint Errors. An estimated 40 examples are believed to have been struck, with approximately 12-15 examples are known to exist today. When 1943 Bronze Cents are auctioned, they sell for well over $1 million.
In an error similar to the 1943 cents, a few 1944 cents were struck on steel planchets left over from 1943. The 1944 steel cent was produced at all three mints. However, only 2 San Francisco-minted 1944-S Steel Cents are known to exist, making it rarest of the 1944 Steel Penny mints. Most experts believe that there are still a few yet to be discovered! The 1944 steel penny has just about as much interest swirling around it as does the 1943 copper cent. Both the 1943 copper Lincoln cent and 1944 steel Lincoln penny are worth an incredible amount of money because they’re so very rare.
Lincoln Memorial Cent (1959 – 2008)
1959 marked the 150th anniversary of Abraham Lincoln’s birth, and the 50th anniversary of the Lincoln cent. The U.S. The Mint celebrated these events by giving the cent a new reverse design depicting the Lincoln Memorial. The reverse was designed by Frank Gasparro, an assistant mint engraver at the time, who later became the Mint’s Chief Engraver.
On Sunday morning, December 21, 1958, President Eisenhower issued a press release announcing that a new reverse design for the cent would begin production on January 2, 1959. The redesign came as a complete surprise, as word of the proposal had not been leaked. The coin was officially released on February 12, 1959, the 150th anniversary of Lincoln's birth.
From 1959 until 1982 pennies were composed of 95% copper and 5% tin and zinc. However, the price of copper began rising, so the United States Treasury decided to change the composition of the Lincoln cent because the price of copper had simply gotten too expensive.
Copper prices began to rise in 1973, to such an extent that the intrinsic value of the coin approached a cent, and citizens began to hoard cents, hoping to realize a profit. The Mint decided to switch to an aluminum cent. Over a million and a half such pieces were struck in the second half of 1973, though they were dated 1974. At congressional hearings, representatives of the vending machine industry testified that aluminum cents would jam their equipment, and the Mint backed away from its proposal. These 1974 aluminum experimental pieces were almost all melted, but some have found their way to private hands. Samples of the aluminum cents had been distributed to members of Congress, but 14 remained missing, with the recipients claiming to not knowing what had happened to them. One aluminum cent was donated to the Smithsonian Institution for the National Numismatic Collection.
In 1982 the price of copper dictated a change in the composition of the Lincoln penny. Because of rising copper prices, the U.S. Treasury authorized the usage of a copper-plated zinc as the composition for the one-cent coin. The mint struck approximately half the 1982 pennies from the copper alloy. The rest were made with a copper plating over a zinc core with a copper composition of only 2.5%. This resulted in some 1982 pennies being made of copper and others being struck with a zinc core. All U.S. pennies made for circulation since 1983 contain a zinc core covered with a thin plating of copper.
The United States Mint produced Lincoln Memorial cents at three different mints: Philadelphia (no mint mark), Denver (D) and San Francisco (S).
Lincoln Shield Cent (2010 – present)
The Lincoln Shield Cent was issued following the four different designs issued for the 2009 Lincoln Bicentennial Cent to celebrate Lincoln’s birth. The same legislation that authorized the four reverse designs, also specified a fifth design to be issued in the following year, 2010, which would be emblematic of Lincoln’s preservation of the United States of America as a single and united country.
Initially, 18 designs were submitted to the Commission of Fine Arts and the Citizens Coinage Advisory Committee. Both organizations submitted their recommended designs to US Treasury Secretary Timothy Geitner, who selected the Union shield design. Lyndall Bass, an associate designer with the US Mint created the design, and Joseph F. Menna was the design sculptor. In 2010, a new permanent reverse design featuring a Union shield was placed on all Lincoln cents was released on February 11, 2010, one day before the 201st anniversary of Lincoln’s birth.
The "Preservation of the Union" reverse design is emblematic of President Abraham Lincoln's preservation of the United States as a single and united country. The design selected features the Union Shield, which dates back to the 1780’s and was used widely during the Civil War. The shield includes thirteen vertical stripes joined by an upper horizontal bar. This represents the thirteen original states joined together in a single compact union in support of the federal government. The design includes the inscriptions “United States of America” around the top of the coin, “E Pluribus Unum” (Out of Many, One) on the header at the top of the shield, and “One Cent” within a scroll draped across the shield. The obverse continues to bear the Lincoln portrait that has appeared on the coin since 1909.
In early January 2017, cents bearing the current date and with the mint mark “P” appeared in circulation. The Mint had made no announcement of such coins, but confirmed their authenticity, stating that the coins had the mint mark to honor the Mint's 225th anniversary. 2017 is the only year that Philadelphia cents have had a mintmark, cents struck in 2018 and after omit the “P” mintmark.
2019-W Lincoln Cents-A U.S Mint First Ever
2019 is scheduled to be a big year for the Lincoln Cent and series enthusiasts. The U.S. Mint has announced plans to include special cents as a premium with three different numismatic product sets.
The fabled West Point U.S. Mint and Bullion Depository will strike three “W” mint marked cents, each featuring a different finish. The standard proof finish featuring frosted devices and mirror-like fields will come standard in separate packaging with the San Francisco-struck Standard Proof Set. The reverse proof cent featuring brilliantly mirrored devices and frosted fields will come standard in separate packaging with the Silver Proof Set, also struck at the San Francisco branch mint. The third West Point-struck cent is the uniform “Uncirculated” finish and will come standard in separate packaging on the Uncirculated Mint Set.
These cents are not the first to be struck at the West Point facility, though they are the first to feature the collectible “W” mint mark. In the seventies the West Point Mint struck cents that featured no Mint mark and are not distinguishable from their Philadelphia and similarly anonymous San Francisco-struck counterparts.
These “W” marked premium cents may become some of the most iconic and beloved in the series and represent an excellent beginning for a broader Lincoln cent collection or a small type set."
"Lincoln Wheat Cent (1909 – 1958)
In 1909, the Indian Head American penny was discontinued in favor of the Lincoln penny, which commemorated the 100th birthday of President Abraham Lincoln. President Roosevelt considered Lincoln the savior of the Union, the greatest Republican President, and also he considered himself Lincoln's political heir. He hired designer, Victor David Brenner who was a Lithuanian immigrant and a friend of Roosevelt, who knew him as a skilled engraver and designer. Brenner paid the martyred president a lasting tribute, in the form of a sympathetic obverse portrait of Abraham Lincoln. The Lincoln Penny became commonly known as the “Wheat Penny” because the reverse featured two stalks of wheat on the reverse. The Wheat Cent design was coined until 1958 when the reverse was changed to the Memorial design. The Lincoln penny is now the longest-running design in United States Mint history. Abraham Lincoln was the first historical figure to grace a U.S. coin when he was portrayed on the one-cent coin to commemorate his 100th birthday. The Lincoln penny was also the first U.S. cent to include the words "In God We Trust."
Brenner’s obverse design featured a portrait of Lincoln facing right, and the motto IN GOD WE TRUST, for the first time on the cent. Flanking Lincoln’s bust on the left was the inscription LIBERTY, with the date on the right. The reverse design showed two sheaves of wheat, one on either side, framing the inscriptions ONE CENT, E PLURIBUS UNUM and UNITED STATES OF AMERICA.
The first Lincoln pennies prominently displayed the initials of the artist, “VDB” at the base of the reverse side. The 1909 VDB penny made its commercial debut on August 2, 1909. On that day, small boys, pint-sized entrepreneurs with pockets full of shiny new pennies, became impromptu street corner coin dealers.
They offered three new Lincoln pennies for a five cent nickel. However, there were massive public outcries that the “VDB” initials was a tasteless self-advertisement, which prompted the U.S. Mint to quickly remove the designer’s initials. Production was stopped with only 484,000 coins struck at the San Francisco mint. As a result, the Lincoln S-VDB penny is one of the rarest and most coveted coin in the series.
The Lincoln cent was an instant success from the day it was released. People lined up for city blocks just to get a couple examples from their local banks. In fact, Lincoln pennies were already selling for more than face value in the weeks immediately after their release, and there simply weren’t enough available from banks and the U.S. Mint to satisfy the demand!
Lincoln Steel Cent (1943)
In 1943, there was an urgent need for copper to make munitions for the war effort during World War II. That year the copper was removed from the penny and zinc-coated steel cents were made for the first and only time in history. The Philadelphia, Denver, and San Francisco mints each produced these 1943 Lincoln cents. Copper returned to the U.S. penny in 1944, and the Lincoln penny contained mostly copper until 1982.
The 1943 steel cent had a bright white chrome like appearance and had magnetic properties. It is the only regular-issue United States coin that can be picked up with a magnet. The steel cent was also the only coin issued by the United States for circulation that does not contain any copper. All other U.S. coins have some copper, even gold coins at various times contained from slightly over 2% copper to an eventual standardized 10% copper.
The 1943 cent was nicknamed “steelies,” these coins caused confusion because they closely resembled dimes; they also rusted and deteriorated quickly. The public soon complained that the new coins were becoming spotted and stained. As the 1943 steel pennies circulated, the zinc coating started to turn dark gray and almost black. If it was in circulation long enough, the zinc coating completely wore off, and the steel underneath would start to show through. When exposed to moisture the penny would start to rust. This was because zinc and iron form an electromagnetic "couple"; the two metals soon corrode when in contact with each other in a damp atmosphere.
In 1942, the U.S. Mint took all but a trace of tin out of the cent alloy, which technically changed the metal from bronze to brass. Because the Mint had a supply of existing (bronze) coining strip already prepared from the previous year, they accidentally made 1943 Lincoln pennies on bronze planchets. Today, 1943 Cents on Bronze Planchets rank among the most desirable and valuable of all Mint Errors. An estimated 40 examples are believed to have been struck, with approximately 12-15 examples are known to exist today. When 1943 Bronze Cents are auctioned, they sell for well over $1 million.
In an error similar to the 1943 cents, a few 1944 cents were struck on steel planchets left over from 1943. The 1944 steel cent was produced at all three mints. However, only 2 San Francisco-minted 1944-S Steel Cents are known to exist, making it rarest of the 1944 Steel Penny mints. Most experts believe that there are still a few yet to be discovered! The 1944 steel penny has just about as much interest swirling around it as does the 1943 copper cent. Both the 1943 copper Lincoln cent and 1944 steel Lincoln penny are worth an incredible amount of money because they’re so very rare.
Lincoln Memorial Cent (1959 – 2008)
1959 marked the 150th anniversary of Abraham Lincoln’s birth, and the 50th anniversary of the Lincoln cent. The U.S. The Mint celebrated these events by giving the cent a new reverse design depicting the Lincoln Memorial. The reverse was designed by Frank Gasparro, an assistant mint engraver at the time, who later became the Mint’s Chief Engraver.
On Sunday morning, December 21, 1958, President Eisenhower issued a press release announcing that a new reverse design for the cent would begin production on January 2, 1959. The redesign came as a complete surprise, as word of the proposal had not been leaked. The coin was officially released on February 12, 1959, the 150th anniversary of Lincoln's birth.
From 1959 until 1982 pennies were composed of 95% copper and 5% tin and zinc. However, the price of copper began rising, so the United States Treasury decided to change the composition of the Lincoln cent because the price of copper had simply gotten too expensive.
Copper prices began to rise in 1973, to such an extent that the intrinsic value of the coin approached a cent, and citizens began to hoard cents, hoping to realize a profit. The Mint decided to switch to an aluminum cent. Over a million and a half such pieces were struck in the second half of 1973, though they were dated 1974. At congressional hearings, representatives of the vending machine industry testified that aluminum cents would jam their equipment, and the Mint backed away from its proposal. These 1974 aluminum experimental pieces were almost all melted, but some have found their way to private hands. Samples of the aluminum cents had been distributed to members of Congress, but 14 remained missing, with the recipients claiming to not knowing what had happened to them. One aluminum cent was donated to the Smithsonian Institution for the National Numismatic Collection.
In 1982 the price of copper dictated a change in the composition of the Lincoln penny. Because of rising copper prices, the U.S. Treasury authorized the usage of a copper-plated zinc as the composition for the one-cent coin. The mint struck approximately half the 1982 pennies from the copper alloy. The rest were made with a copper plating over a zinc core with a copper composition of only 2.5%. This resulted in some 1982 pennies being made of copper and others being struck with a zinc core. All U.S. pennies made for circulation since 1983 contain a zinc core covered with a thin plating of copper.
The United States Mint produced Lincoln Memorial cents at three different mints: Philadelphia (no mint mark), Denver (D) and San Francisco (S).
Lincoln Shield Cent (2010 – present)
The Lincoln Shield Cent was issued following the four different designs issued for the 2009 Lincoln Bicentennial Cent to celebrate Lincoln’s birth. The same legislation that authorized the four reverse designs, also specified a fifth design to be issued in the following year, 2010, which would be emblematic of Lincoln’s preservation of the United States of America as a single and united country.
Initially, 18 designs were submitted to the Commission of Fine Arts and the Citizens Coinage Advisory Committee. Both organizations submitted their recommended designs to US Treasury Secretary Timothy Geitner, who selected the Union shield design. Lyndall Bass, an associate designer with the US Mint created the design, and Joseph F. Menna was the design sculptor. In 2010, a new permanent reverse design featuring a Union shield was placed on all Lincoln cents was released on February 11, 2010, one day before the 201st anniversary of Lincoln’s birth.
The "Preservation of the Union" reverse design is emblematic of President Abraham Lincoln's preservation of the United States as a single and united country. The design selected features the Union Shield, which dates back to the 1780’s and was used widely during the Civil War. The shield includes thirteen vertical stripes joined by an upper horizontal bar. This represents the thirteen original states joined together in a single compact union in support of the federal government. The design includes the inscriptions “United States of America” around the top of the coin, “E Pluribus Unum” (Out of Many, One) on the header at the top of the shield, and “One Cent” within a scroll draped across the shield. The obverse continues to bear the Lincoln portrait that has appeared on the coin since 1909.
In early January 2017, cents bearing the current date and with the mint mark “P” appeared in circulation. The Mint had made no announcement of such coins, but confirmed their authenticity, stating that the coins had the mint mark to honor the Mint's 225th anniversary. 2017 is the only year that Philadelphia cents have had a mintmark, cents struck in 2018 and after omit the “P” mintmark.
2019-W Lincoln Cents-A U.S Mint First Ever
2019 is scheduled to be a big year for the Lincoln Cent and series enthusiasts. The U.S. Mint has announced plans to include special cents as a premium with three different numismatic product sets.
The fabled West Point U.S. Mint and Bullion Depository will strike three “W” mint marked cents, each featuring a different finish. The standard proof finish featuring frosted devices and mirror-like fields will come standard in separate packaging with the San Francisco-struck Standard Proof Set. The reverse proof cent featuring brilliantly mirrored devices and frosted fields will come standard in separate packaging with the Silver Proof Set, also struck at the San Francisco branch mint. The third West Point-struck cent is the uniform “Uncirculated” finish and will come standard in separate packaging on the Uncirculated Mint Set.
These cents are not the first to be struck at the West Point facility, though they are the first to feature the collectible “W” mint mark. In the seventies the West Point Mint struck cents that featured no Mint mark and are not distinguishable from their Philadelphia and similarly anonymous San Francisco-struck counterparts.
These “W” marked premium cents may become some of the most iconic and beloved in the series and represent an excellent beginning for a broader Lincoln cent collection or a small type set."
History of the Penny - ModernCoinMart
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