| It is safe to say there have been many | | | | saved in some numbers, making it available today |
| important coins in the history of the cent | | | | at just $60 in G-4, $275 in MS-60, and $650 in |
| denomination. Ranging from expensive and scarce | | | | MS-65. The price of a G-4 is unusually close to |
| to rather available and inexpensive, important | | | | the MS-60 simply because the 1908-S was a |
| cents take a number of forms, making the top | | | | bigger deal than we might think today and that |
| 10 an interesting and diverse group. | | | | meant significant saving at the time it was |
| The cent was a high priority for the U.S. Mint | | | | released. |
| from its start, with the first cents being minted | | | | 6. The 1909 V.D.B. Lincoln cent is also a coin of |
| for circulation in 1793, the year after the Mint | | | | great importance. Prior to the 1909 V.D.B. no |
| opened. Here's my list of the 10 best that have | | | | circulating coin of the United States had depicted |
| been produced since then. | | | | a famous American. Although Washington had |
| 1. The design of the 1793 Flowing Hair chain cent | | | | already appeared on the 1900 Lafayette |
| is credited to Henry Voight. It shows Liberty | | | | commemorative silver dollar, the idea of not using |
| facing left, with a chain reverse of 15 links-one for | | | | depictions of real Americans on circulating coins |
| each state in the Union. An estimated 5,000 to | | | | dated from his time. He had joined the House of |
| 10,000 were minted with an abbreviated | | | | Representatives in blocking the use of his image |
| inscription, "UNITED STATES OF AMERI." The | | | | on coins. |
| remainder of this 36,103-mintage coin carried | | | | This held until Teddy Roosevelt came along with |
| "AMERICA." | | | | the idea that the centennial of Lincoln's birth should |
| No sooner had the first cents appeared than the | | | | be noted on a circulating coin. The artist selected |
| critics came out in force. Particularly offensive to | | | | by Roosevelt, Victor D. Brenner, contributed to |
| some were the chains. The idea was to show | | | | the fame of the first Lincoln cent by having his |
| unity, but to some the chain represented | | | | initials on the reverse. |
| captivity. The 1793 Flowing Hair chain cent is | | | | Officials had actually approved that idea, but when |
| extremely popular today. It is usually found | | | | they saw the first Lincoln cent they changed their |
| well-worn. The demand is always far in excess of | | | | minds and the V.D.B. was ordered removed. |
| the supply, which means even a Good-4 | | | | Before the initials could be removed, 27,995,000 |
| commands a $7,750 price tag. | | | | of the new 1909 V.D.B. cents had been produced |
| 2. Next is the 1856 Flying Eagle cent. In fact, the | | | | at Philadelphia, which was enough to make them |
| 1856 Flying Eagle cent is technically a pattern, as | | | | available today at just $9.50 for an MS-60 and |
| the Flying Eagle cent was not even authorized until | | | | $100 for an MS-65. |
| 1857. | | | | The price indicates the heavy saving. Like the |
| The 1856 Flying Eagle cent was basically a test of | | | | 1908-S, the 1909 V.D.B. was much more |
| a new, smaller cent that would not have an | | | | important than we might think. Many opposed the |
| intrinsic value anywhere near its face value. | | | | idea of using famous Americans on the circulating |
| Therefore, it was a bold departure from prior | | | | coins, but eventually the nation's coinage would |
| practice. The first 1,000 were given out to | | | | become literally a portrait gallery of historic |
| congressmen and others in influence in an attempt | | | | figures. That all started with the 1909 Lincoln cent. |
| to win its approval. | | | | 7. The 1909-S V.D.B. Lincoln cent can probably be |
| It was coined for circulation into 1858, and | | | | best described as the 1877 of the following |
| collectors soon realized the 1856 was far tougher | | | | century. What is special about the 1909-S V.D.B. is |
| than the 1857 or the 1858. The Mint at the time | | | | that it had a mintage of just 484,000 before the |
| was a very different sort of place and collectors | | | | order came down to remove the initials. That |
| wanting an 1856 Flying Eagle cent simply went to | | | | made it instantly a valuable and popular cent. |
| the Mint and asked for one. The Mint cheerfully | | | | The 1909-S V.D.B. was readily saved as can be |
| provided the coins. We cannot be sure of the | | | | seen in the numbers of examples available today |
| initial mintage, but most put it at somewhere | | | | in grades like About Uncirculated-50 and up. Even |
| between 1,500 and 3,500. | | | | so, generation after generation of collectors have |
| Over the years the 1856 has not been dismissed | | | | tried to find a 1909-S V.D.B. in circulation, making it |
| as a pattern. From the start it was seen as a | | | | the most desired coin by collectors for years. The |
| prized addition to a cent collection. As such, the | | | | 1909-S V.D.B. lists for $550 in G-4, $1,300 in |
| coins were selling for $1 each as early 1859. | | | | MS-60, and $6,750 in MS-65. |
| The 1856 was hoarded by the wealthy collectors | | | | 8. The cents of 1943 are special as they are |
| of the late 1800s and early 1900s, with famous | | | | really souvenirs of World War II. In an attempt to |
| hoards in some cases topping 500 examples. The | | | | conserve copper for the war effort, it was |
| significance of those hoards can be seen in | | | | decided that an alternative alloy for the cent was |
| today's list price of $6,250 for an 1856 in G-4. | | | | needed and that turned out to be zinc-coated |
| The 1856 ranks as a truly significant coin not only | | | | steel. |
| because it is scarce but also because it opened | | | | The new steel cents, which were subject to |
| the door to the idea of a small cent. | | | | rusting, were unpopular with the public. The 1943 |
| 3. In 1859 an entirely new cent appeared with | | | | zinc-coated steel cents would be produced for |
| James B. Longacre's Indian Head obverse. The | | | | just one year, with cents of the next couple |
| 1859 was important as a one-year transitional | | | | years being made from recycled shell cases. |
| piece. The following year the design on the | | | | The 1943 zinc-coated steel cents, though readily |
| reverse was changed to show an oak wreath and | | | | available at low prices, are popular today because |
| a small shield. | | | | of their link to the war. A set of three MS-65 |
| Fortunately, despite only being produced for one | | | | examples from Philadelphia, San Francisco and |
| year, the 1859 had a high mintage of 36,400,000. | | | | Denver can be had for around $25. |
| It is available today at $12.50 in G-4, $215 in Mint | | | | 9. The numismatic world was surprised back in |
| State-60, and $3,200 in MS-65. | | | | 1955 by the discovery that some 1955 cents |
| 4. The 1877 Indian Head cent is next on my list. It | | | | were doubled on the obverse. The 1955 |
| had a mintage of 852,500 and was quickly | | | | doubled-die cent was a national sensation and it |
| recognized as being scarce. It remains tough | | | | has kept its popularity. Prices today range from |
| today, listing at $590 in G-4, $2,850 in MS-60, and | | | | $1,350 in Extremely Fine-40 to $34,500 in MS-65. |
| $8,750 in MS-65. | | | | 10. The final coin on my list of most important |
| 5. The 1908-S Indian Head cent is important for a | | | | cents is the one everyone takes for granted and |
| very simple reason. It was the first cent to be | | | | that is the 1959 Lincoln cent with the Memorial |
| produced at any facility other than Philadelphia. | | | | reverse. It is readily available, but the real story is |
| Until a couple years earlier, there had been a | | | | not its price, but its creation to mark the 50th |
| stipulation in the law that coins containing no gold | | | | anniversary of the Lincoln cent. |
| or silver could only be produced at Philadelphia. | | | | Under the law, once a coin has been in circulation |
| That somewhat unusual idea had been the result | | | | for 25 years the Treasury Department can order |
| of Western mining interests who wanted nothing | | | | a change without consulting Congress. The Lincoln |
| to do with coins not containing the metals they | | | | Memorial reverse was the last time a Treasury |
| were mining. That feeling was especially strong | | | | secretary changed a design using that power, |
| during the 1870s, when the price of silver was | | | | which makes it an important coin. |
| declining. | | | | It will be interesting to see what happens in 2009, |
| Finally, in the early 1900s, the law was changed, | | | | when this design reaches its half century |
| as lower denominations were needed even in the | | | | anniversary. From the historic to the popular, |
| West, and having them shipped from Philadelphia | | | | from the scarce to the common, the most |
| when there were mints in San Francisco and | | | | important cents of the United States are a |
| Denver was ridiculous. | | | | fascinating group. A few others could probably be |
| The 1908-S was the first cent to be produced in | | | | added to such a list but in every case the 10 |
| San Francisco, with Denver joining in with cent | | | | most important cents have excellent reasons for |
| production starting in 1911. | | | | standing out in what has now been more than |
| It is clear the 1908-S was noticed as it was | | | | two centuries of very interesting cents. |