The First Verified 1974-D Aluminum Cent

[jeff of pa]

isn't this Cheating ?

“This coin was previously owned by Harry Edmond Lawrence who served as Deputy Superintendent of the Denver Mint at the time it was struck 40 years ago, but its existence only recently came to light when his son brought it to a coin shop in Southern California. This is an amazing discovery, and we estimate the 1974-D aluminum cent will bring a quarter-million dollars or more,” said Imhof.

odds are, it was never made for circulation or even by accident.
My guess Lawrence created it for the money it would eventually bring in.



Rumored to exist for years but not confirmed until now, the first verified 1974 Lincoln cent struck in aluminum at the Denver Mint will be displayed by Heritage Auctions at the upcoming Long Beach Coin, Currency, Stamp & Sports Collectible Expo, January 30 – February 1, 2014. It then will be offered as one of the highlights of the Heritage Signature Auction during the Central States Numismatic Society convention near Chicago, April 23 – 27, 2014.

The First Verified 1974-D Aluminum Cent Will Be Offered By Heritage at Central States Auction - CoinWeek

 

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[Uncle Jeff]

** note to self
1) get job at a US mint
2) strike my own coins out of different material than is used for that denomination
3) sell them years later at a huge profit

 

[Fletch88]

It would be easier to walk out if Ft Knox with a bar of good than a mint with a coin these days!

 

[cazisme]

So can someone help me out here? I seem to recall 1930 ish last minted 20 dollar gold pieces that were not released to circulation some escaped the mint. Secret service hunts them down siezes them. Whats the difference between the penny and those both were never released for circulation? I guess I shouldnt expect our goverment to be consistant.

 

[jeff of pa]

So can someone help me out here? I seem to recall 1930 ish last minted 20 dollar gold pieces that were not released to circulation some escaped the mint. Secret service hunts them down siezes them. Whats the difference between the penny and those both were never released for circulation? I guess I shouldnt expect our goverment to be consistant.

Coin hasn't sold yet.
If it gets a Million Dollar bid they may step in.

Of course this Lawrence guy may have been above the law

 

[JunkShopFiddler]

Sure am glad they only made one! Imagine how many alum pennies would be in the ground right now with signals like pull tabs. Would have been even more junk signals to deal with.

 

[dejapooh]

The coin is well known. Several hundred thousand were made without a mint mark (Philadelphia), and destroyed as a test because the price of copper was getting close to breaking the $.01 per penny mark. A few dozen were brought to congress as samples because it would take an act of congress to change the composition of the coin. Each member of the committee was given a few (3?) to handle and examine. They were supposed to be collected at the end of the session, but a few remain unaccounted for (not surprising. Congresspeople are always walking into and out of sessions as they move from meeting to meeting, they hardly ever stay at one session for its duration). I believe 14 remain unaccounted for. This is not the first aluminum cent found. One turned up a couple of years ago. A former guard at the capital had one in his drawer. A congressman dropped it. The guard picked it up and offered it to the congressman, he was in a hurry, so he just walked away and told the guard to keep it (At least that is what the guards family said. after his death, they brought the coin out and tried to get it authenticated). It is believed that it is legal to own the coins because the Secret service has determined that they were obtained with no criminal intent (not sure what that means, it is from an article of the Numismatist, in 1976). There are records of about 10 being stuck in Denver as a trial.

This contrasts the 1933 $20 Gold coin. They struck a few hundred thousand of them, and melted them when Roosevelt made the dollar nonconvertible into gold. A few made it out of the mint, and all are traced to a jewelry dealer, Israel Switt. His family "found" 10 more of the coins. They were confiscated by the Government because it is the opinion of the government that there was no way to legally get one since they were never issued. The lawyers for the family point to a period in March and April 1933 where they could have been available in exchange for other, older $20 gold coins. I believe this is still working its way through the courts. From 1933 to 1970, any of the coins found were melted (I believe 9 were found). There is one legal one (formerly of the King Farouk Collection). They government issued an export license for the coin, so when the coin turned up, it was decided to sell the coin and split the money between the Government and the owner (with 420 extra going to the Government to cover the loss on the books since 1933).

 

[Uncle Jeff]

It would be easier to walk out if Ft Knox with a bar of good than a mint with a coin these days!

Old wives tale.. we all know there is no gold in Fort Knox anymore

 

[tamrock]

I think I need to get a job at the Denver mint and slip me a titanium blank in the penny die...I casted a Jeff nickel with aluminum in high school shop class. It came out real good and the other guys were passing it around and laughing about how good it looked. Then shop teacher got a hold it and tossed it back in the melting pot. He told me he better not catch me do that again. His right middle finger was shot off in ww2 and he'd lecture you and hammer hard on your skull at the same time with that shot off finger of his.

 

[Jason in Enid]

MAny more had to be made. Whether or not they were destroyed has yet to be seen. The aluminum had to be extruded to the correct thickness and then punched into planchets, loaded into a hopper and fed through the die striker. That can't be done on an individual basis. Those presses kick out more than one coin a second. It may have been a limited run, but there would have been a batch made as a test run of full production.

 

[BigWaveDave]

His right middle finger was shot off in ww2 and he'd lecture you and hammer hard on your skull at the same time with that shot off finger of his.

that's old school, my how times have changed..

 

[JunkShopFiddler]

What about the copper 1943 pennies, is that a real story? When I was a kid I found one in change back in the 60s, but it was copper plated.

 

[dejapooh]

What about the nickel it was made by people at the mint and is selling high dollar.What was it 1913.

In the 19th century, it was relatively common for mint employees to make up fantasy pieces (1804 Dollar type 2 and 3).

 

[dejapooh]

What about the copper 1943 pennies, is that a real story? When I was a kid I found one in change back in the 60s, but it was copper plated.

That is more likely a story of a few blanks sticking in the corner of the bin or being left in the bin at the beginning of the year.

 

[stefen]

A few years back, gold minted coins were confiscated from the owners based on the fact that the coins were the property of the US gov...why is this cent coin any different...or is it a do as I say and not as I do situation...