Paula A. asks: When was the first penny minted?
The term “penny” refers to a coin that is part of the English monetary system. The first issue of pennies were the descendants of the “deniers” that were first introduced by Pepin, the father of Charlemagne. Pennies replaced this coin and were introduced into England by Offa, the King of Mercia in about 775 A.D. Pennies were virtually the only denomination in English coinage for almost five centuries. These were silver pennies (weight about 20 grains or 1.3 grams).
The American use of the word “penny” comes from the English tradition but the denomination does not exist in United States coinage. The term “cent”, that is a hundredth of a dollar, was introduced with the first United States cent in 1793. To see an example of one variety of this landmark coinage see 1793 CENT FLOWING HAIR CHAIN REVERSE
Steven D. writes: I Have been trying to locate someone who can give me an intelligent answer concerning the statehood quarter program. I have recently acquired two sealed uncirculated sets of 1999 coins. Contained within these two sets was one quarter that was distinctively yellow in color, one Georgia and one New Jersey. I have been trying to determine if they are worth anything and what has caused this mint error. The coins are clad, but they are distinctively yellow toned.
The following is a definition of a Mint or uncirculated set. Some collectors only buy part of a set forgetting that the there are more than one package included.
Mint Sets consist of regular circulating coins that are inserted into a clear plastic film. For 1999 there are 4 clear coin packages. Two from the Philadelphia Mint consisting of one package with a cent, nickel, dime, half-dollar and a Philadelphia mint token struck on a cent blank and one package that has one example of each State Quarter (5) with a “P” mint mark. These two packs are inserted into a blue and white envelope labeled United States Mint Uncirculated Coin Set Philadelphia.
The other half of the set, consists of two packages similar to the above with each coin having a “D” mint mark. The two Denver packs are in a Dark Red and white envelope labeled Denver. The Philadelphi adn Denver envelopes together make one 1999 uncirculated mint set. Again, outside of their superior condition, they are identical to regular circulating coinage.
All United States coins are made to specific specifications and blanks are cut from prescribed strip. Dimes, quarters and half-dollars are struck on clad blanks and have been made this way since 1965. The specifications of a clad quarter are the following:
The weight is 5.67 grams with an outer layer of copper-nickel (75% copper and 25% nickel) bonded to a core of pure copper. Though nickel doesn’t tone, copper does, especially in the presence of oxidizers such as sulfur compounds and acids, both of which are available at the Mint.
The possibility of quarters being struck on other metals than what is on hand to strike coins is small. Recently, for the first time in United States history a “mule” was created, that is two mismatched dies from other coins. In this case it is a quarter obverse and a Sacagawea dollar reverse struck on a dollar planchet. But dollar planchets are available.
Weighing the coin is diagnostic. Coins struck on other coin blanks happen occasionally but their weights and sizes are different than normal coins (see Prices for U.S. Error Coins for a partial listing).
If your coin weighs more or less than the specified weight you might want to send the coin for diagnosis and authentication.
Betty & Daniel P. write: We have a 1939 New York Worlds Fair coin. Where can we find out it’s value?
Coins are issued by governments of countries and usually show a denomination or value. There might have been some commemorative coins made by foreign countries, sixty-three countries participated in the 1939-1940 New York World’s Fair, but you don’t mention which country that might be. The United States didn’t issue commemorative coins for this event.
There were many different tokens and medals made, some were used as “good-fors” at specific events, there were 50,000 exhibits. There were many Federal displays but none by the United States Mint. There were both official tokens and official medals issued. The most common are 1 1/4 inch in bronze and brass, 2 1/4 inch and 3 inch in bronze. These are of nominal value and quite plentiful. The most collectable are listed below:
Oval shaped – Trylon and Perisphere, NEW YORK WORLD’S FAIR around, the date 1939 below. Rev: within a beaded oval OFFICIAL TOKEN CREATED BY THE EXECUTIVE COMMITTEE MARCH 27TH 1939. Grover W. Whalen (his signature) PRESIDENT. Around the beaded border NEW YORK WORLD’S FAIR 1939 INCORPORATED. This medal was designed by H.C. Kreis and struck by the Medallic Art Co. and sold by Manufactures Trust Co. at a branch established at the Fair. It was called the “World’s Fair Dollar” probably because they charged $1 for each one. This medal was struck in silver and is very scarce. Value Range: $150+.
Palladium “Dollar” – This was privately issued by Baker & Co. which eventually became part of Engelhard Industries. They were sold in four sizes at Baker’s booth at the World’s Fair: 1/2 ounce, 1 ounce, 5 ounce and 10 ounce palladium coins at $26 per ounce. The obverse shows the Trylon and Perisphere with a circular ramp, above, GOLD SILVER AND PLATINUM METALS. Around, BAKER & CO. – PRECIOUS METAL REFINERY – NEWARK, N.J. U.S.A. N.Y.-CHICAGO – SAN FRANCISCO-TORONTO-LONDON-PARIS-TOKIO, below, NEW YORK WORLD’S FAIR 1939. Rev: Statue, at left PALLAS to right, ATHENA. THIS CHARM IS GENUINE PALLADIUM, below, GODDESS OF WISDOM*BESTOWER OF GOOD FORTUNE*GUARDIAN OF HEALTH.
Most of the Palladium pieces were redeemed over the years and so the remaining pieces are quite rare. They are even more valuable if supplied in the original black leatherette jeweler’s box labeled “Baker & Co., Inc Newark, N.J. The numismatic premium over the palladium value would be several multiples.
Mike F. writes: I have a 1999 Connecticut State quarter that is a doubled die coin. The doubling can clearly be seen on the tails side of the coin. The letters that spell Connecticut and the 1788 are clearly doubled by looking at the coin with the naked eye.The doubling can be seen just about every where on this side of the coin with a 5x magnifying glass. Could this really be worth up to $1000?
A “doubled die” error is not an error of striking a coin but an error in manufacturing a die. It is the die that would have the doubling. All coins struck with that die would be identical and show the same defect. There would be thousands or even tens of thousands of a doubled die error. A good example is the 1955 doubled die. At one time, rolls of this error coin were available.
The doubled die effect is caused by multiple hits by the master hub to create a deep impression (in a negative image) in the potential working die. The error comes when the hub rotates slightly so that the subsequent hit to the working die is out of alignment with the previous one. There are many instances of minor doubling on some dies, only the spectacular ones become desirable.
The latest techniques are suppose to eliminate the possibility of doubled dies but then again anything is possible. For your coin to be a doubled die there would have to be many more coins exactly like it.
A more likely explanation is “shelf-doubling” (called so because of the characteristic shelf effect caused on this error). These are unique and are caused by a loose collar that holds the blank in place when it is struck. The collar is a device that holds the planchet (blank) in place while the dies strike the planchet. The collar also contains the reeding that is imparted when the coin is struck. The “chatter” causes a doubled impression but one is in lower relief than the other (the characteristic “shelf”). A workman who discovers the loose collar, simply stops the press and uses a screwdriver to tighten the collar.
Shelf doubled coins are generally unique and unless the doubling is severe and spectacular, they do not bring a premium in the coin market. That is not to say they are not interesting and worthy of study, just that they have no additional beyond their face value. Only true and extreme doubled dies bring a significant price.
William F. asks: Do you know of any special bicentennial pure silver coins minted as gift sets to mint employees? I have been told there were a few of these special pure silver proof sets, is it true and if so what might the value of these coins be? Your help in this matter is greatly appreciated. Thank You.
No, it is not true. The normal composition of U.S. clad coins from 1965 to the present is a copper-nickel sandwich over a pure copper core. The Bicentennial design was issued for two years 1975 and 1976, shows the regular head of George Washington and the dual dates “1776-1976” (There are no quarters, half dollars or dollars dated 1975). The United States Congress mandates or approves coin compositions. Forty percent silver clad issues of the Bicentennial quarter, half dollar and dollar were authorized by Congress, minted at the San Francisco Mint and sold to the public in any quantity until 1982. These sets are abundantly available in the coin market in proof and uncirculated versions for a small premium over their silver content.
The Mints would not have had silver strip available to make planchets (blanks) as there had been no silver coins minted for ten years. If they did, they wouldn’t have been pure silver. Pre-1965 dimes, quarters and half dollars were 90% silver. I will add this story to my collection of Urban Legends.
Lisa R. writes: I bought a roll of Sacagawea dollars at the bank. When I brought them home and opened the roll there was one dollar in there that was not struck (It’s blank on both sides.) Is it worth anything?
Blank planchets are of two types, one with no rims (Type I) and one with upset rims (Type II). The planchet just never went through the press. Finding blanks of most denomiations is not a rare occurrence but dollar blanks are popular right now: Value Range for either type: $10+
Edward Y. writes: I have a 1876 dime that had the back ground off and in its place are the letters p.k., the letters are very fancy. The dime has four small holes drill into it as for a necklace? Any idea about the coin or the value? Thank you Ed Y.
You have a “Love Token”. It was the fashion in the period after the Civil War (1861-1865) to take common coins, have a jeweler plane off one side and engrave the name of ones beau in place of the design and give the resulting piece as a gift.
Love tokens typically show elaborate initials, names and landscapes (scarce). The initials could be that of ones sweetheart or a monogram of the couples initials. Sometimes intricate designs were added or geographical scenes engraved. Love tokens have been made on Large Cents (scarce), nickels (scarce), dimes and quarters (common), half-dollars (scarce), dollars (rare) and $1, $2 1/2 and $5 gold coins (scarce to rare). They also appear on other world coins
Collectors look for the skill of the engraver as a barometer of value. The other side of the coin is not considered. Reengraved coins are often holed to accommodate a necklace or chain. In really good work the hole will be considered as part of the design. Bracelets exists with multiple love tokens, mostly using dimes or half-dimes (rare). Other uses included cufflinks, studs, buttons and money clips. Value Range: $5 and up.
If love tokens appeal to you, join The Love Token Society. Dues are $15 per year.
Gene B. asks: What is the value of an Eisenhower inaugural medal? It has the date of January 20 1955 on the back and Dwight Eisenhower on the front. Please give me any information you can on this medal. Thanks in advance. Gene B.
There are two official Dwight D. Eisenhower Inaugural medals. Note that inaugural medal are dated the years that the Presidents administration begun. Eisenhower’s inaugural medals were struck in 1953, he was elected in November of 1952, and in 1957, as the result of the winning campaign of 1956.
Only the 1953 medal shows Eisenhower alone, the 1957 medal shows the conjoined busts of Dwight D. Eisenhower and Richard M. Nixon. The Medallic Art Company struck the medals under the authority of the Inaugural Committee (Medallic Art appears on the medal’s edge).
The medal shows the head of Dwight David Eisenhower, his name is around and a scroll with the Roman numerals MCMLIII. The Reverse shows an eagle with outstretched wings with the legend below: INAUGURATED PRESIDENT OF THE UNITED STATES OF AMERICA JANUARY 20 1953. The medal sales committee sold 788 medals in silver and 25,685 medals in bronze.
Any other medals than the above are not the official inaugural medal.