New Lincoln Penny: Redesigning a Standard

This image of the New Lincoln Cent (The Formative Years in Indiana) was forwarded to me from the release celebration in Indiana. Note the picture of Lincoln as a railsplitter, seated and reading a book. The celebration took place May 14, and more than double the number of coin collectors attended as attended the release of the first design in February. Collectors were allowed to purchase six rolls of the new cents.

The Twentieth Century dawned with the Indian Head Cent being the one cent coin produced at the US Mints. The coin was first minted in 1859, and was struck at the Philadelphia Mint. It continued being struck there until it was joined by the Denver Mint in 1908. The final year the coin was struck was 1909, when it was replaced by the Lincoln Cent.

This is the one cent coin that was being struck during the campaign and throughout the Presidency of Abraham Lincoln.

When Theodore Roosevelt saw Victor D. Brenner's plaque of Abraham Lincoln, Roosevelt singled him out as the only sculptor to participate in the formulation of the design for the new Lincoln Penny. The coin was first struck in 1909. The design went unchanged except for minor modifications (eg. placement of the designer's initials was moved) until 1943 when when the United States was involved in World War II. There was a shortage of copper, so the US Mint developed . . .

Zinc-Coated Steel. Although the design remained unchanged, the material change for that one year gave the coin a stunningly different look.

"But," you ask, "how much difference could such a little change make in the war effort?"

The US Government minted 1,093,838,670 of steel pennies between February 27, and December 31, 1943. The copper released by this change was enough to meet the combined needs of 2 cruisers, 2 destroyers, 1,243 flying fortresses, 120 field guns and 120 howitzers. It was enough to produce 1.25 million shells.

The curtain went down on the "Wheatie" Lincoln Cent, and a new act began February 12, 1959. The coin had been in production 50 years, and the US Mint felt that it was time for a change. The obverse (heads) side of the coin was left unchanged, but it was decided that the reverse (tails) of the coin would be redesigned. That task went to Frank Gasparro, then Assistant Engraver at the Philadelphia Mint.

The United States Mint took the law passed by Congress and set out to produce something memorable for the US public. The result of their work was first displayed for the public on September 22, 2008.

The Director of the US Mint, Edmund C. Moy, said:

"This is a momentous occasion in the history of our Nation's coinage because these designs represent the first change in the Lincoln cent in half a century," said Director Moy.

"These coins are a tribute to one of our greatest Presidents whose legacy has had a lasting impact on our country. He believed all men were created equal, and his life was a model for accomplishing the American dream through honesty, integrity, loyalty, and a lifetime of education."

"Birth and Early Childhood in Kentucky" depicts the a log cabin that represents Abraham Lincoln's humble beginnings in Kentucky with the inscriptions, "United States of America," "E Pluribus Unum," "One Cent" and "1809." The coin was designed by United States Mint Artistic Infusion Program (AIP) Master Designer Richard Masters and sculpted by United States Mint Sculptor-Engraver Jim Licaretz.

"Formative Years in Indiana" depicts a young Abraham Lincoln as he developed into a young man while living in Indiana. It is said that Lincoln frequently carried books with him, and he educated himself by reading on his own, even whiled doing arduous difficult work. This coin depicts Lincoln reading while taking a break from working as a rail splitter. It includes the inscriptions "United States of America," "E Pluribus Unum" and "One Cent." It was designed and sculpted by United States Mint Sculptor-Engraver Charles Vickers.

"Professional Life in Illinois" depicts Abraham Lincoln standing in front of the state capitol building in Springfield, Illinois. He had moved to Illinois in 1830. In 1834, Lincoln was elected to the Illinois General Assembly. His interest in government grew, and Lincoln began studying the law in earnest. He was granted a license to practice law in the State of Illinois in September, 1836. He moved his home to Springfield at that time. In 1846 Lincoln was elected to the U.S. House of Representatives, and he ran for the Senate seat held by Stephen Douglas. Although he lost, to the incumbent, Lincoln received the Republican Party's nomination for the Presidency in 1860. This coin portrays a young, professional Lincoln standing in front of the Illinois State Capitol building in Springfield. It includes the inscriptions "United States of America," "E Pluribus Unum" and "One Cent," and was designed by United States Mint AIP Master Designer Joel Iskowitz and sculpted by United States Mint Sculptor-Engraver Don Everhart.

"Presidency in Washington DC" When Lincoln took office in 1861, the US Capitol building was being renovated, and the nation was on the verge of a civil war. Lincoln took the oath of office in front of a building with an unfinished dome. When the war broke out it was determined that work would continue on the building to symbolize to the nation that it was still strong, and that it would survive as a whole. By the time the war came to an end the dome of the Capitol had been completed. It was under that dome that Lincoln laid in state after his assassination. This design was conceived by United States Mint AIP Master Designer Susan Gamble and sculpted by United States Sculptor-Engraver Joseph Menna.

The first penny design was introduced February 12, 2009 in Hodgenville, KY. The obverse of the coin is the classic design by Victor D. Brenner, The obverse of the design depicts a cabin representative of Lincoln's birthplace. The Designer was Richard Masters and the Sculptor was Jim Licaretz. Their initials can be found to the left and right of the cabin. The date 1809 is obvious in the design showing the date of Lincoln's birth.

In 2009 the US Mint also released a new Lincoln Commemorative Silver Dollar celebrating the 200th Anniversary of Lincoln's birth. Featuring a wonderful bust of Lincoln along with a quote from the Gettysburg Address, it is a must have for Lincoln afficionados!
CLICK HERE TO SEE MORE ABOUT THE LINCOLN SILVER DOLLAR!

Sunday, March 22, 2009

The US Mint indicated in its initial publicity that only 500,000 of the Commemorative Silver Dollars would be produced. I have read reports in the last few days that the coins are "sold out," or that they are "backordered." I'll look into this in the next 24 hours and place something on the US Coin Blog!

I am writing this on June 20, a mere 37 days after the introduction of the "Formative Years" Lincoln Cent. Already there are numerous reports of errors on the Formative Years cents surfacing. Lamination errors, cracked dies, even doubled dies are showing up in the coin marketplace. Will they become more valuable as time goes on? I don't know, but they are worth looking at, whether as a curiosity or as a possible investment--especially if you simply find the coin in your pocket change. A coin which you got for one cent that you can sell for several dollars results in a nice little profit.

Title: Professional Life in Illinois
Cast: Abraham Lincoln and the Illinois State House
Debut Date: August 14, 2009

As part of the redesign of the Lincoln Cent, Congress has authorized the design and production of a new Lincoln Cent design starting in the year 2010. The design on the reverse side of the coin is to be emblematic of the country's unity as espoused by our 16th President.

Following the issuance of the 4 new designs in 2009, the Lincoln Cent is slated for a re-design for 2010!

Here are the reported 18 finalists for the design on the coin's reverse!