Recommendations for the Connoisseur: Issues 1859-1878 in EF
to MS-60 grades are recommended for the budget-minded collector. MS-63 and MS-64
are suggested for the connoisseur who wants a good value. MS-65 is ideal for the
connoisseur as well, for MS-65 coins today are cheaper in many instances than
they were 15 years ago! Proof-63 to Proof-65 coins are good buys as well. Among
cents 1879-1909 I recommend MS-60 to MS-64 for the budget-minded buyer, and
MS-65 for the buyer with more money to spend. Proof-63 to Proof-65 coins are
good values as well. Caveat: Be sure to buy coins that have not been cleaned,
coins without spots, coins with evenly-toned, aesthetically pleasing surfaces.
For my money, I would rather have a nice glossy brown EF-45 1877 Indian cent
than a spotty Proof-63! Be fussy!
Elite Recommendations: Take your choice of either MS-65 or
Proof-65, and of a color objective (such as brown, nicely blended red and brown,
or red), and then build a matched set in that category. If you elect to buy
Proofs, you may have to acquire the 1864-L in MS-65 grade (for fewer than 20
Proofs are known) and the 1908-S and 1909-S likewise MS-65 (as no Proofs were
made of branch mint issues). Observe the caveat mentioned above. Such a set does
indeed have excellent investment possibilities, in my opinion, for Indian cents
Lincoln Cents (1909 to Date)
In the summer of 1909, the Lincoln cent made its first
appearance in circulation. The earliest pieces bore on the reverse the initials
V.D.B., for the engraver, Victor David Brenner. A popular rarity was created
during the first year of the Lincoln cent, the 1909-S with V.D.B. on the
reverse. Just 484,000 were struck.
As time progressed, Lincoln cents were produced at the
Denver Mint as well. The series continued more or less regularly, until 1922,
when coins were struck only at the Denver Mint. However, some Denver Mint issues
had the D mintmark clogged or worn away in the dies, creating a mintmarkless
piece which has been designated the 1922 "plain." Choice Uncirculated
examples are worth many thousands of dollars, an interesting instance of a high
price being paid for a poorly struck, defective coin!
Uncirculated Lincoln cents were set aside in quantity
during the first year of issue, 1909, but after that they were generally
ignored, except for a small band of collectors who acquired them by date and
mintmark varieties. Beginning in the mid-1920s, saving coins in bank wrapped
rolls became popular, and from then onward Uncirculated pieces were set aside in
larger quantities. Beginning in the early 1930s, roll hoarding became a passion,
and from that point in time very large quantities were saved. During the same
decade "penny boards," consisting of cardboard sheets with openings
for Lincoln cents and other coin varieties, were distributed by several
individuals and firms, including the Whitman Publishing Company. The widespread
availability of these low cost panels spurred the collecting of Lincoln cents by
dates and mintmarks, and certain earlier issues became the object of desire of
countless thousands of Americans who dreamed of finding valuable 1909-S V.D.B.,
1914-D, and other scarce Lincoln cents in circulation.
